Contact Information: Contact: Star Maritime Acquisition Corp. 103 Foulk Road Wilmington, Delaware 19803 www.starmaritimecorp.com Investor Relations / Financial Media: Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel. (212) 661-7566 E-mail: nbornozis@capitallink.com www.capitallink.com
Star Maritime Acquisition Corp. Announces That It Received an Audit Report Containing a Going Concern Qualification
| Source: Star Maritime Acquisition Corp.
NEW YORK, NY -- (MARKET WIRE) -- May 10, 2007 --Star Maritime Acquisition Corp. (AMEX : SEA )
("Star Maritime") today announced that it received an audit report, which
is included in the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2006, that contains a going concern qualification.
This announcement is made in compliance with Section 610(B) of the American
Stock Exchange Company Guide.
About Star Maritime
Star Maritime is a blank check company that was formed for the specific
purpose of consummating a business combination. Star Maritime raised net
proceeds of approximately $189.0 million through its initial public
offering consummated in December 2005 and has dedicated its time since the
initial public offering to seeking and evaluating business combination
opportunities.
Forward-Looking Statements
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that term is
defined by the United States Private Securities Litigation Reform Act of
1995. Any such forward-looking statements contained herein are based on
current expectations, but are subject to a number of risks and
uncertainties that may cause actual results to differ materially from
expectations such as material adverse events affecting the Company, the
ability of Company to satisfy the conditions to completion of the business
combination and those other risks and uncertainties detailed in the
Company's filings with the Securities and Exchange Commission.