It said Morina s positions have been assumed by Hometown s chairman, Paul Coker Jr.
That came days after Hometown terminated a $15,000-a-month consulting contract with a firm led by Coker s father, Hometown cited negative publicity in making that move.
Hometown drew widespread attention last month after a hedge fund operator noted the company s thinly traded stock was implausibly valued at about $100 million on the over-the-counter market, even though deli revenues were only about $14,000 last year.
The SEC in September 2020 asked Hometown why it should not be considered a shell company, or a publicly held firm with no or nominal operations.
Shell companies can be used by private businesses that want to become publicly held enterprises with few or no regulatory hurdles.
CEO of $100 Million New Jersey Deli Has Reportedly onenewspage.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from onenewspage.com Daily Mail and Mail on Sunday newspapers.
The shell company Europa Acquisition I Inc. was one of eight shell entities set up in 2010 by Peter Reichard and Peter Coker Sr., the North Carolina-based investors in deli owner Hometown International.
After Reichard and Coker sold them, most of those shell companies including the one later purchased by Trump s former real estate tax lawyer Allan Schwartz ended up having their registrations revoked by the Securities and Exchange Commission for failing to keep current in their disclosure filings, records show.
Your Hometown Deli in Paulsboro, N.J., is no mere neighborhood delicatessen. Despite racking up less than $40,000 in sales over the past two years, the deli s parent company has a $100 million valuation on the over-the-counter stock market.