SOURCE: HQ Sustainable Maritime Industries, Inc.

January 09, 2007 08:08 ET

HQSM Clarifies Process Required Following a Stock Split

SEATTLE, WA -- (MARKET WIRE) -- January 9, 2007 -- HQ Sustainable Maritime Industries, Inc. (OTCBB: HQSM), a leader in toxin-free integrated aquaculture and aquatic product processing, is pleased to provide stockholders with information about the required legal steps following a stock split becoming effective.

The Reverse Stock Split of HQSM shares, at a ratio of 1 for 20, described in the 14(c) Information Statement received by all stockholders of record as of December 1, 2006, became effective on December 28, 2006, as stated.

The Company then filed an amendment to its Certificate of Incorporation with the State of Delaware, reflecting the Company's reverse stock split, as required by law and described in the Information Statement stockholders received.

The Company is undertaking to ensure that these and all other necessary steps are finalized in the next two weeks.

About HQ Sustainable Maritime Industries, Inc.

HQ Sustainable Maritime Industries, Inc. is an integrated aquaculture and aquatic product processing company, with operations based in the environmentally pristine island province of Hainan, in the South China Sea. HQ practices cooperative sustainable aquaculture, using nutraceutically enriched feeds and conducting fish processing and sales. The company is dedicated to sustainable toxin-free methods giving its customers the purest products possible. The Company holds HACCP certification from the U.S. FDA and the EU Code assignment of quality, permitting its products to be sold in these international markets. It owns a nutraceuticals and health products company, which is HACCP certified, and produces and sells products subject to stringent laboratory tests certified by the China Ministry of Health. This plant produces nutraceuticals, which enrich feed used by HQ's cooperative aquaculture operations. In addition to headquarters in Seattle HQ has operational offices in Haikou, Hainan. (http://www.hqfish.com).

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of HQ Sustainable Maritime Industries, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."

Consulting For Strategic Growth I, Ltd. ("CFSG") provides HQ Sustainable Maritime Industries, Inc. (HQ) with consulting, business advisory, investor relations, public relations and corporate development services, for which CFSG receives a fixed monthly fee for the duration of the agreement. Independent of CFSG's receipt of cash compensation from HQ, CFSG may choose to purchase the common stock of the company and thereafter sell those shares at any time it deems appropriate to do so.

Contact Information

  • Contacts:

    Norbert Sporns
    Chief Executive Officer
    HQ Sustainable Maritime Industries, Inc.
    Tel: 206-621-9888
    Fax: 206-621-0318
    Email Contact

    Stan Wunderlich
    CEO
    Consulting For Strategic Growth 1
    Tel: 1-800-625-2236
    Fax: 212-337-8089
    Email: Email Contact

    Daniel Stepanek
    Media Relations
    CFSG1
    Tel: 212-896-1202
    Fax: 212-697-0910
    Email Contact