Both companies are thinly traded, at best, on the over-the-counter market.
They also come as a Hong Kong-based firm, Maso Capital, continues trying to position both companies as vehicles for acquisition by privately held companies to become publicly traded on U.S. stock markets.
In its filing Monday with the SEC, the management of E-Waste said it disavows the price of its publicly quoted stock on the OTC Markets under the trading symbol EWST. Management is aware of no basis to support the Company s stock price, based upon its revenue or assets, the filing said in language that mirrored that of Hometown International s filing last Friday.
The shares of Duke and Vanderbilt, among the biggest stakes in Hometown International, were acquired in the past year as part of what financial filings indicate is an effort to use Hometown International as well as a shell company called E-Waste as vehicles for private companies to become publicly traded on U.S. stock markets through either reverse mergers or similar maneuvers.
It is not clear whether Duke and Vanderbilt are among the would-be buyers of shares in E-Waste, which last week announced it was offering to sell stock for $2.5 million. E-Waste, which is tied to people connected to Hometown, and which has borrowed money from the deli owner, has no ongoing business, but despite that has a market capitalization of more than $100 million.
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.
POLITICO
Get the New Jersey Playbook newsletter
Email
Sign Up
By signing up you agree to receive email newsletters or updates from POLITICO and you agree to our privacy policy and terms of service. You can unsubscribe at any time and you can contact us here. This sign-up form is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Presented by Uber Driver Stories
Good Thursday morning!
It just got harder for the Democrats who control Bergen and Hudson counties to hold onto their ICE contracts at local jails.
Essex County announced yesterday that now that it has an agreement with Union County to house its inmates, it’s going to end its contract with the federal immigration enforcement agency. The last ICE inmates will leave by the end of August.
Ben Gilbert/Insider
A single deli in a small New Jersey town is valued at over $100 million on the stock market. The pastrami must be amazing, hedge fund manager David Einhorn joked while highlighting the stock.
We had to find out for ourselves, so we visited the deli for lunch this week.
Against all logic, a small New Jersey deli is worth just over $100 million on the stock market.
Your Hometown Deli, which is owned by Hometown International, reported sales of about $36,000 in the last two years. At the same time, the company s stock exploded in value: from $1.25 in October 2019 to $13 currently.