One of those investors cryptically named VCH Limited also collects $25,000 per month from Hometown International for a consulting agreement related to efforts by the money-losing sandwich seller to merge with a private entity.
While Hometown International operates a real Italian deli in Paulsboro, New Jersey albeit a modest one with less than $37,000 in combined sales in the past two years E-Waste has no actual business operations.
Google Earth
Your Hometown Deli in Paulsboro, N.J.
Despite that fact, the market capitalization of both companies has topped $100 million in recent weeks, due to a seemingly inexplicable rise in the prices of their thinly traded stocks since last year, when overseas investors began taking stakes in the companies.
Management is aware of no basis to support the Company s stock price, based upon its revenue or assets, said that filing.
The document was signed by Hometown International Chairman Peter Coker Jr., who is based on Hong Kong.
Other recent SEC filings by Hometown International have been signed by its CEO and president, Paul Morina.
The 62-year-old Morina is the principal at Paulsboro, New Jersey, High School, where he also coaches that school s renowned wrestling team. Hometown s only other executive officer, Christine Lindenmuth, is an administrator at Paulsboro HS.
HWIN closed trading Friday on the Pink market at $12.55 per share, down 3.46%. Just 852 of its nearly 8 million common stock shares outstanding having changed hands.