Fish-like Evolution

Reader RJ emails:

Hi Tian, Can you help me out with this t-shirt? The O'neill International's a sponsored surf competition. Any help would be great! Thanks."

The two vertical phrases are 嚴懲假冒 and 注冊商標, which mean "counterfeit(ers) [will be] sternly punished" and "registered trademark".

嚴 = strict, rigorous, rigid; stern
懲 = punish, reprimand; warn
假冒= to counterfeit; to assume the identity of somebody else

注冊 =to register
商標 = trademark

The phrase on top is read from right to left as 進化魚精. In this context, I think it was meant to be translated as "fish-like evolution" or equivalent. Especially, there are two characters 魚化 written in red color and means "fish-like".

But it is interesting to know that 魚精 by itself in Japanese, it also means "milt" or "fish semen".

進化 = evolution
魚精 = milt; fish semen