Tag: Jersey

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Health

New Jersey has totally vaccinated 4.7 million individuals, Gov. Murphy says

New Jersey Gov. Murphy defends eligibility criteria

New Jersey Governor Phil Murphy (D) speaks at the coronavirus press conference in Trenton, New Jersey.

Michael Brochstein | Barcroft Media | Getty Images

New Jersey has achieved its goal of fully vaccinating more than 4.7 million people living, working and studying in the state about two weeks before its original target date, June 30, Governor Phil Murphy said Friday.

The milestone comes after an aggressive vaccination campaign that included door knocking and incentives for the state’s residents like free beer and wine, free tickets to state parks, and even a dinner with Murphy and his wife.

The state also exceeded President Joe Biden’s goal of vaccinating 70% of adults with at least one dose by July 4th. According to data from the Centers for Disease Control and Prevention, New Jersey vaccinated about 77% of its adults with at least one dose.

“With the millions of you who have stepped forward today to protect yourself, your families and our communities, we are proud to announce that we have exceeded our original goal now and 12 days before our self-appointed deadline “said Murphy Friday at a press conference.

The New Jersey outbreak, which peaked in January with a seven-day average of more than 6,000 new cases per day, has since declined to a daily average of around 260 cases per day over the past week. New Jersey has seen more than 1 million Covid cases and 26,000 Covid deaths since data collection began.

Covid deaths in the state peaked in April 2020 with a seven-day average of 345 deaths per day. The number has since fallen to an average of 6 deaths per day.

The state previously defied the CDC’s recommendations to allow vaccinated people to wear a mask indoors, but passed the CDC guidelines two weeks later.

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Business

E-Waste, firm linked to New Jersey deli, broadcasts reverse merger

$100 million New Jersey deli company owner kills consulting deal with shareholder

Hometown Deli, Paulsboro, N.J.

Mike Calia | CNBC

E-Waste, a shell company linked to a nearly $100 million company that owns just one New Jersey deli, announced Tuesday it will enter into a reverse merger with a privately held electric vehicle corporation called EZRAider Global Inc.

E-Waste, which itself has a sky-high market capitalization of $110 million despite having no business operations, had been marketed along with deli company Hometown International for such a reverse merger or similar transaction.

“This demonstrates that there is a credible process in place for [E-Waste] to complete a merger with an appropriate private company,” said a person with knowledge of the situation who declined to be named. “The merger will be an efficient and robust manner for EZRAider to access the U.S. capital markets.”

E-Waste’s mailing address is in a North Carolina office building and is the same address as a company connected to Peter Coker Sr., whose son, Peter Coker Jr., is chairman and CEO of Hometown International. The deli owner until recently held a $150,000 promissory note from E-Waste.

EZRAider described itself in an April news release as a proprietary electric vehicle platform that comes in 2-, 4- and 6-wheel-drive options “when combined with the Ecart trailer.”

“It was originally developed in Israel for military troop mobility in the field and has since become available to governments and consumer markets in numerous countries, including the US,” EZRaider said in its release at the time.

“When paired with accessories, EZRaider vehicles are competitive for a wide variety of uses including urban commuting & errands, agriculture, off-road work and adventure, search and rescue, fire, security, military, enhanced mobility for disabled persons, golf, tourism, hunting, fishing, camping, facilities maintenance, micro-deliveries and more.”

In March, EZRaider Global Inc. said it had obtained a $50 million investment commitment from Luxembourg-based Global Emerging Markets Group to take the company public.

A Securities and Exchange Commission filing by E-Waste on Tuesday noted GEM’s involvement in the reverse merger.

CNBC in April detailed the fact that E-Waste before fall 2020 was registered at the Manhattan office of GEM Group. That article also noted that as of early 2020 four of the five biggest shareholders of E-Waste were, in order of size of shares held: the Valletta, Malta-based GEM Global Yield Fund LLC SCS, and three individuals whose address was that of something called GEM Advisors, located on Madison Avenue in New York.

At the time, E-Waste’s president, treasurer and secretary was a man named Peter de Svastich, who is a managing director at the GEM Group.

GEM, which had been E-Waste’s controlling shareholder, sold 6 million restricted shares of the company’s stock last year for $30,000 to Global Equity Limited — a Macau, China-based entity.

Global Equity Limited is also the biggest single shareholder of record in Hometown International, the deli company.

E-Waste’s filing Tuesday with the SEC detailed the series of transactions that will underlay its reverse merger with EZRaider.

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The company said another company, the privately held EZ Global, will acquire a limited liability company called EZ Raider LLC, which will include the rights to acquire a fourth company, based in Israel, called DS Raider Ltd.

“EZ Global will enter into a reverse merger with E-Waste and a newly-formed acquisition subsidiary of E-Waste,” the SEC filing said.

“All the outstanding shares of capital stock of EZ Global will be transferred to E-Waste in exchange for shares of E-Waste Common Stock.”

The filing said that after the reverse merge, E-Waste will conduct a private placement offering of its securities on the terms described below to complete the acquisition of DS Israel by EZ Global.

The transaction is expected to be completed on or before June 30.

“Following the completion of all necessary business and legal due diligence after the execution of this Term Sheet, EZ Global will offer and sell a minimum of … $2,000,000.00 … and a maximum of …$3,000,000 … principal amount of EZ Global’s senior secured convertible notes,” the filing said. It added that those “will be sold to a limited number of sophisticated investors and/or non-US persons.”

According to the filing, “GEM Global Yield Fund LLC SCS or its affiliate, agent, or assign (‘GEM’) has entered into a purchase agreement with EZ Global to purchase up to $50,000,000 of EZ Global’s issued and outstanding shares of registered and freely tradeable common stock issued pursuant to the Securities Act for a period of thirty-six months.”

Both E-Waste and Hometown International, whose stock trades on the over-the-counter Pink market, disavowed weeks ago their preposterously high market capitalizations in SEC filings, which noted that their share price did not reflect the value of their businesses.

Hometown International in mid-April drew widespread attention when hedge fund manager David Einhorn, in a client letter, noted that it recently had a more than $100 million market capitalization despite owning only the small deli in Paulsboro, New Jersey.

Since then, CNBC has detailed how the tangled history of arrests, lawsuits and regulatory sanctions involving a number of people connected to Hometown and E-Waste, among them Coker Sr., his business partner, a lawyer involved in the creation of the deli company, and others.

E-Waste’s former president, John Rollo, last month resigned from that post, which he had assumed after a career that included winning Grammy Awards as a music sound engineer and working as a patient transporter at a New Jersey hospital.

Rollo was replaced by 31-year-old Elliot Mermel, a California resident whose business background includes founding a company that raised crickets as human food and a partnership in a cannabis-related business with Paul Pierce, the former Boston Celtics superstar basketball player.

Shortly after Rollo quit, Hometown International’s shareholder fired the deli company CEO, Paul Morina, who is the principal and head wrestling coach at Paulsboro High School, and replaced him with Coker Jr.

A person familiar with the situation confirmed to CNBC that the moves to replace the executives were part of ongoing housecleaning effort at both companies. The person insisted on anonymity in order to speak freely about the circumstances of the moves.

Categories
Politics

$100 million New Jersey deli gross sales elevated in early 2021

Hometown International, NJ deli owner, worth millions in stock

Sales at this mysterious $ 100 million deli in New Jersey rose nearly a whopping 50% in the first quarter of 2021 – but that was just measly sandwiches, sodas, and fries valued at $ 5,305, a new financial file revealed on Monday.

Losses at deli owner Hometown International also skyrocketed, rising to $ 173,658 in the first three months of this year. That’s about $ 97,000 more in losses than in the same period last year.

The recent filing from Hometown International also highlights a number of previously unreported developments at this strange company.

The moves, like others recently, appear to be designed to clean the house and make the company an attractive takeover candidate for a private company. This seems to be the real reason investors in Hong Kong and Macau have taken large stakes in Hometown International as opposed to the love of selling cheesesteaks.

These developments include the decision not to renew a $ 25,000 per month advisory contract with a Macau-based company that is a major investor in Hometown International. This was based on the company’s quarterly 10-Q filing with the Securities and Exchange Commission.

This includes the full repayment of two curious $ 150,000 loans to Shell companies made to Shell companies closely linked to the father of Hometown International Chairman and new President Peter Coker Jr.

Hometown International drew attention in mid-April when hedge fund manager David Einhorn stated in a customer letter that the company recently had a market capitalization of more than $ 100 million, despite sales of less in 2019 and 2020 combined than had made $ 37,000 at his Paulsboro restaurant.

CNBC has since detailed the criminal history and government penalties of a number of people linked to the company, as well as other strange details about the deli owner.

Following these articles, Hometown International’s controlling shareholders announced a $ 15,000 monthly advisory agreement with Tryon Capital, a North Carolina company controlled by Peter Coker Sr. who is a major investor in the deli owner.

Hometown International then fired its President Paul Morina, who is daytime principal and head wrestling coach at the nearby Paulsboro High School. The company has also canned its only other senior executive, Christine Lindenmuth, who is an administrator at the same high school.

Both Hometown International and an affiliate Shell company, E-Waste, have declined their sky-high market caps, claiming their stock prices in the over-the-counter market were unfounded on financial grounds.

The 10-Q, which like other filings from the deli owner was delayed by about a week, contains details that are inconsistent for most companies with nearly 8 million common shares outstanding.

The company’s stock closed at $ 12.10 per share on Monday, down 40 cents per share. Only 423 shares changed hands. On paper at least, Hometown International’s market capitalization based on common stock alone is more than $ 97 million, while its intrinsic value, including tens of millions of stocks available through stock warrants, is a whopping $ 1.8 billion .

Among the odd details in the new filing is the fact that the deli had a labor cost of $ 126 in the first quarter.

In the same period a year ago, no labor costs were reported at all.

Revenue, which was just $ 3,577 in the first quarter of 2020, rose to $ 5,305.

“The increase in sales is mainly due to an increase in customers [sic] Visits after our delicatessen reopened as a result of the easing of restrictions related to the COVID-19 pandemic, “the 10-Q file says.

This filing also shows that Hometown International’s advisory agreement with VCH Limited, an investor in the company, expired on April 30th and was “not renewed”.

That deal had paid VCH Limited $ 25,000 a month.

VCH Limited is one of four companies that are major shareholders of Hometown International and whose postal addresses are in Macau, a special administrative region in China.

The 10-Q announcement notes that $ 120,000 of the $ 178,963 in operating expenses for the first quarter was chewed through Hometown International’s advisory agreements with VCH Limited and Tryon Capital.

Filing indicates that by April 14, Hometown International had received full principal payments and over $ 1,000 accrued interest on a $ 150,000 loan to Shell company E-Waste, which works closely with Coker Sr. is connected November.

In a move that reflected Molina’s layoff, John Rollo, president of E-Waste, recently resigned from the company after CNBC published articles on E-Waste, which has no business operations but a market cap of over $ 112 million.

Hometown International loaned $ 150,000 in February to another company affiliated with Coker Sr. – Med Spa Vacations Inc. – which Rollo remains in charge of.

The deli owner’s 10-Q filing reveals that on May 12, “the full principal of the bond and related accrued interest claims of $ 2,250 were paid in full by the debtor,” Med Spa Vacations.

Both loans had an interest rate of 6%.

Categories
Business

$100 million New Jersey deli firm fires CEO Paul Morina

$100 million New Jersey deli company fires CEO Paul Morina

Paulsboro coach Paul Morina cheers on George Worthy as he takes on Bergen Catholic s Wade Unger in the 152-pound bout during a wrestling match at The Palestra in Philadelphia,

Joe Warner | USAToday

The shareholders of the mystery $100 million New Jersey deli company Hometown International fired CEO Paul Morina — a high school principal and renowned wrestling coach — after weeks of questions about the firm and his role there, a financial filing revealed late Friday.

Hometown International’s majority shareholders also voted to remove the company’s only other executive, vice president and secretary Christine Lindenmuth, who works with Morina as an administrator at nearby Paulsboro High School. The deli, located just across the Delaware River from Philadelphia, is Hometown’s only operating business asset.

Their ousters came a week after a previously unreported resignation of the president of a shell company, E-Waste, which has multiple connections to to Hometown International

Securities and Exchange Commission filings show that the shareholders voting to remove Morina and Lindenmuth almost certainly included all or some members of two different groups of investment entities, one based in Hong Kong, the other based in Macao, a special administrative region in Hong Kong.

Morina, 62, held a slew of other titles at Hometown International before he was removed. According to financial filings, he owns 1.5 million common shares of the deli owner, making him, on paper at least, worth more than $18 million.

Morina was replaced as chief executive officer by Peter Coker Jr., who is Hometown International’s chairman.

Coker Jr., who is based in Hong Kong, is aligned with investment entities there that have major stakes in the deli owner.

Coker Jr.’s father, North Carolina businessman Peter Coker Sr., himself is a major investor in the company.

The related shell company E-Waste also has replaced its president, John Rollo, 66, after similar questions were raised by CNBC about him, that company and its similarly preposterous sky-high market capitalization despite a total lack of ongoing business.

Rollo, a Grammy-winning recording engineer, until recently was working as patient transporter at a New Jersey hospital.

Rollo, also a New Jersey resident, was replaced as E-Waste’s president by 31-year-old Elliot Mermel, a California resident who is getting paid $8,000 per month in that role.

Mermel’s colorful business background includes founding a company that raised crickets as human food, and a partnership in a cannabis-related business with Paul Pierce, the former Boston Celtics superstar basketball player.

Pierce, who won an NBA title with the Celtics, last month was fired as an analyst by ESPN for a racy Instagram Live poss that showed him in a room with exotic dancers.

On Saturday, the Boston Globe reported that Pierce will be inducted into the Basketball Hall of Fame as part of its 2021 class.

Mermel also founded a biotech company and an artificial intelligence company, and was a business development consultant to a fertilizer company, according to a financial filing.

Mermel, a Colby University graduate, has another company, Benzions LLC, that had been collecting $4,000 each month since December under a consulting agreement with E-Waste.

That agreement was terminated as part of his taking over management of E-Waste, according to a Securities and Exchange Commission filing on Thursday.

Boston Celtics forward Paul Pierce waves to the crowd after reaching No. 2 on the all-time Celtics scoring list, surpassing Larry Bird, during the second half of an NBA basketball game against the Charlotte Bobcats in Boston on Tuesday, Feb. 7, 2012. (AP Photo/Elise Amendola)

Elise Amendola

SEC filings show that Benzions in March signed another consulting agreement with a second shell company, Med Spa Vacations, connected to Peter Coker Sr., which likewise pays Mermel’s firm $4,000 per month.

CNBC has reached out for comment from Morina, Lindenmuth, Rollo, Mermel, Hometown International’s lawyer and a spokesman for the Hong Kong investors.

The current president of Med Spa Vacations is former E-Waste president Rollo, who took that job in February, according to filings.

The changes in executive leadership at both Hometown International and E-Waste were disclosed in 8-K filings with the SEC.

The deli owner’s filing gave no reason why shareholders who control 6 million shares of common stock — which represents about 77% of the company’s voting power — voted out Morina and the 46-year-old Lindenmuth. At least 5.5 million of Hometown International’s common shares are controlled by the Hong Kong and Macao investors.

Both Morina and Lindenmuth remain principals in the deli itself, according to the SEC filing.

Morina also is involved in an entity that leases the deli space to Hometown International.

E-Waste’s filing said that Rollo resigned as president on May 7, a day after CNBC reported on the opaque nature of the Macao group of investors.

Your Hometown Deli in Paulsboro, N.J.

Google Earth

The moves appear — like other recent ones by each of the money-losing companies — to be an attempt to eliminate controversial issues that could harm their joint goal of merging with other firms in a transaction that would exploit their status as publicly traded companies on U.S. markets.

Hometown International first drew widespread attention last month when hedge fund manager David Einhorn, in a letter to clients, pointed out the company’s market capitalization, which had topped $100 million despite owning only a single small Italian deli.

That eatery had sales of less than $37,000 in sales for the past two years combined and was closed for nearly half of 2020 due to the coronavirus pandemic.

Einhorn noted the incongruity of Morina being Hometown International’s CEO while working his day jobs as high school principal and wrestling coach.

Hometown Deli in Paulsboro, N.J.

CNBC

Morina’s team at Paulsboro high school is a perennial contender for state titles, and he is among the most successful coaches in New Jersey wrestling history.

But he has no apparent history of operating either a publicly traded company or food service business before the Hometown Deli opened in his own hometown.

However, Morina, whose brother is a New Jersey county sheriff, wrestled in the 1970s at Paulsboro High School with a man named James Patten, who works at Coker Sr.’s firm Tryon Capital.

Patten was barred by FINRA, the broker-dealer regulator, from acting as a stockbroker or associating with broker-dealers, according to the regulator’s database.

Before that sanction, Patten was the subject of repeated disciplinary actions by FINRA, which included not complying with an arbitration award of more than $753,000 for violating securities laws, unauthorized trading and churning a client’s account.

Since Einhorn’s letter, CNBC has reported other eyebrow-raising details about Hometown International and E-Waste, whose stocks, traded on the low-tier Pink over-the-counter market, in the past year have risen to stunning levels as ties have been formed between them.

Among those questions was why some investors would pay so much to buy shares in either thinly traded company, given their lack of meaningful revenue in the deli owner’s case, or, in E-Waste’s case, a lack of any revenue at all.

Even if both companies achieve their goal of engaging in reverse mergers or similar transactions with private firms looking to become publicly traded, current investors will not receive payments that reflect — in any way — the trading price of the stocks.

On Friday, just 205 shares of Hometown International were traded, closing at $12.40 per share. Given the company’s nearly 8 million shares of common stock outstanding, that gives it a market capitalization of $96.68 million.

E-Waste closed Friday at $9 per share, after no shares traded hands. With 12.5 million shares outstanding, E-Waste has a market cap of $112.5 million.

In recent weeks, both the deli owner and E-Waste disavowed their stock prices, saying in extraordinary SEC filings that there was no financial justification for their market capitalizations.

The moves followed the demotion of Hometown International from a more prestigious OTCQB over-the-counter market platform for what OTC Markets Group called “irregularities” in their public disclosures, and OTC Markets telling CNBC that it would be eyeing E-Waste as well.

A trio of Hong Kong investment entities led by Maso Capital, which last year became some of the largest investors in Hometown International’s biggest investors, are understood to be involved in likewise positioning E-Waste as a reverse merger candidate.

The Hong Kong investors include entities that are investment arms of Duke and Vanderbilt universities.

E-Waste’s biggest single investor, Macao-based Global Equity Limited, is also the largest investor in the deli owner, and in Med Spa Vacations, another shell company linked to Coker Sr..

The office building on Avenida Da Praia Grande in Macao, China, the address for multiple entities listed as investors in Hometown International, the owner of a single New Jersey deli.

Catarina Domingues | CNBC

Rollo remains the president of Med Spa Vacations, a shell company with no business operations whose office address is that of a business operated by Coker Sr.

Hometown International loaned Med Spa Vacations $150,000 in February, records show.

That loan came after E-Waste was loaned an identical amount by Hometown International in November, according to an SEC filing.

Records show that Coker Sr. loaned E-Waste $255,000 last September, most of which was used to pay the prior owners of E-Waste before they sold their shares to Global Equity Lmiited.

CNBC’s articles have detailed how Coker Sr., a former college basketball star who has refused to comment when contacted by a reporter, has been sued for allegedly hiding assets from a creditor to whom he owed nearly $900,000 and for business-related fraud. He denied wrongdoing in those cases.

He also has been arrested for soliciting a prostitute, according to a Raleigh, North Carolina, police report, and for exposing himself to and trying to proposition three underage girls, according to a 1992 newspaper article.

Peter Lee Coker mugshot from the Raleigh/Wake City-County Bureau of Identification (CCBI).

Source: Raleigh/Wake City-County Bureau of Identification

A firm controlled by Coker Sr., Tryon Capital, had until recently been collecting $15,000 a month from Hometown International under a consulting agreement. E-Waste was paying Tryon Capital $2,500 per month for its own consulting agreement.

Those agreements were terminated last month after CNBC articles described those deals and Coker’s tangled legal history.

SEC filings show that Med Spa Vacations is paying Tryon Capital $2,500 per month for its own consulting agreement.

Coker Sr.’s partner in Tryon Capital, Peter Reichard, in 2011 was convicted in a North Carolina court of his role in a scheme that facilitated the illegal contributions of thousands of dollars to the successful 2008 campaign for governor by Bev Perdue, a Democrat.

The scheme involved the use of bogus consulting contracts with Tryon Capital. Coker Sr. was not charged in that case.

Peter Reichard, a top Perdue aide, takes the oath before his apearance in Wake County Court, Wednesday, December 14, 2011 in Raleigh, N.C.

John Rottet | The News & Observer | AP

Reichard is also a managing member, with Coker Sr., of an entity called Europa Capital Investments, which owns 90,400 common shares of Hometown International, and has warrants for another 1.9 million shares.

Reichard is the son of Ram Dass, the late spiritual and LSD guru who gained renown in the 1960s and 1970s.

CNBC earlier this week detailed how Coker Sr. and Reichard in 2010 created eight shell companies that were later sold off to other owners.

Most of those shell companies, after they were sold, ended up having their registrations revoked by the SEC for failing to keep current in their disclosure filings, records show.

One of the companies ended up being owned by a real estate tax lawyer in New York named Allan Schwartz, who did work for former President Donald Trump decades ago in connection with Trump’s real estate holdings. Schwartz told CNBC he knew nothing about Reichard and Coker Sr., or the deli owner.

Hometown Deli, Paulsboro, N.J.

Mike Calia | CNBC

Records show that a securities lawyer named Gregg Jaclin was involved in the creation of those shell companies. Jaclin also was involved three years later in the creation of Hometown International.

Jaclin was disbarred as an attorney last year after pleading guilty to federal criminal charges related to his creation of shell companies to sell to individuals “who used those shell companies as publicly traded vehicles for market manipulation schemes,” court records show.

None of the shells in that scheme were one of the ones created by Coker Sr. and Reichard, or to Hometown International.

Categories
Business

New Jersey will nonetheless require masks indoors regardless of new CDC pointers

New Jersey will still require masks indoors despite new CDC guidelines

Phil Murphy, New Jersey Governor, second from left, greets the police sergeant during a tour of the Morris County’s Covid-19 vaccination facility at Townsquare Mall in Rockaway, New Jersey, USA, on Friday, January 8, 2021.

Sarah Blesener | Bloomberg | Getty Images

New Jersey Governor Phil Murphy said Friday that the state had maintained its mandate on inner masks despite newly relaxed guidelines from the Centers for Disease Control and Prevention.

The CDC updated its guidelines on Thursday stating that it is safe for fully vaccinated Americans to throw away their masks in most environments, whether indoors or outdoors.

While fully vaccinated New Jersey residents can remove their masks outdoors, Murphy said those who are not vaccinated should continue to wear masks outdoors when in “close proximity” to others.

The New Jersey outbreak, which peaked in January with a 7-day average of more than 6,000 new cases per day, has since subsided to a daily average of around 500 cases last week.

The announcement comes when other states decide whether to include new CDC guidelines in state policies.

Hawaii Governor David Ige said his state’s mask mandate will remain in effect for anyone vaccinated or unvaccinated, despite the CDC’s new recommendations. Hawaii had its highest 7-day average of about 250 cases per day in late August. There are currently fewer than 90 new cases recorded on average each day.

Texas lifted its mask mandate in March before the CDC announced it by two months. Texas hit a seven-day high averaging more than 23,000 cases in January, just two months before it lifted its mask mandate. In the past week, an average of just over 2,200 new cases were registered each day.

The Texas Department of Health told CNBC that the agency has agreed to the new CDC guidelines and is currently updating its recommendations.

New York Governor Andrew Cuomo said the state is reviewing its mask work with experts from neighboring states following the new CDC recommendations. New York state reported a high of nearly 17,000 cases averaging seven days in January. A little over 2,000 cases are currently recorded daily.

In New York City, Mayor Bill de Blasio hailed the move as a “monumental day in the fight against Covid-19” and said the city was reviewing its own guidelines.

Categories
Politics

$100 million New Jersey deli has Macao buyers who’re onerous to search out

$100 million New Jersey deli has Macao investors who are hard to find

Das Bürogebäude an der Avenida Da Praia Grande in Macao, China, ist die Adresse für mehrere Unternehmen, die als Investoren in Hometown International, dem Eigentümer eines einzigen Delikatessengeschäfts in New Jersey, aufgeführt sind.

Catarina Domingues | CNBC

Sie können ein echtes Sandwich in diesem mysteriösen Delikatessengeschäft in New Jersey kaufen – aber viel Glück beim Finden einiger der größten Investoren in dem 100-Millionen-Dollar-Unternehmen, das nur dieses eine Restaurant besitzt.

Ein Reporter von CNBC versuchte am Mittwoch erfolglos, eine Gruppe von vier Investmentgesellschaften mit Sitz in Macao zu finden, die die größte Aktionärsgruppe des Deli-Eigentümers Hometown International bilden.

Einer dieser Investoren – kryptisch VCH Limited genannt – sammelt außerdem 25.000 US-Dollar pro Monat von Hometown International für eine Beratungsvereinbarung im Zusammenhang mit den Bemühungen des geldverlierenden Sandwichverkäufers, sich mit einem privaten Unternehmen zusammenzuschließen.

E-Waste, ein Shell-Unternehmen mit mehreren Verbindungen zu Hometown International, wird nach Angaben der Securities and Exchange Commission ebenfalls für eine solche Transaktion positioniert.

Während Hometown International in Paulsboro, New Jersey, ein echtes italienisches Delikatessengeschäft betreibt – wenn auch ein bescheidenes mit einem Gesamtumsatz von weniger als 37.000 US-Dollar in den letzten zwei Jahren -, hat E-Waste keinen tatsächlichen Geschäftsbetrieb.

Ihr Deli in Ihrer Heimatstadt in Paulsboro, NJ

Google Earth

Trotz dieser Tatsache hat die Marktkapitalisierung beider Unternehmen in den letzten Wochen 100 Millionen US-Dollar überschritten, da die Preise ihrer dünn gehandelten Aktien seit dem letzten Jahr, als ausländische Investoren anfingen, sich an den Unternehmen zu beteiligen, scheinbar unerklärlich gestiegen sind.

Der größte Einzelinhaber in beiden außerbörslich gehandelten Unternehmen ist eine Macao-Gesellschaft namens Global Equity Limited, die 42 Millionen Stammaktien und Optionsscheine an Hometown International hält.

Global Equity ist bei weitem auch der mit Abstand größte Anteilseigner eines dritten Unternehmens namens Med Spa Vacations, dessen einziger leitender Angestellter, John Rollo, der Präsident von E-Waste ist.

Eine SEC-Anmeldung zeigt, dass Hometown International Med Spa Vacations im Februar 150.000 USD zu einem Zinssatz von 6% verliehen hat. Med Spa Vacations gibt in seinen Unterlagen an, dass es sich wie E-Waste um ein Shell-Unternehmen ohne laufenden Betrieb handelt, das ebenfalls versucht, sich mit einer privaten Einrichtung zusammenzuschließen.

Drei weitere in Macao registrierte Unternehmen – VCH Limited, IPC-Trading Company und RTO Limited – halten jeweils 10,5 Millionen Aktien und Optionsscheine am Deli-Eigentümer.

Laut Akten befinden sich VCH Limited, IPC-Trading Company, RTO Limited und Global Equity Limited im selben Bürogebäude in der Innenstadt von Macao, einer speziellen Verwaltungsregion Chinas und einem wichtigen Glücksspiel-Mekka, das weniger als 60 km von Hongkong entfernt liegt.

Geheimnis in Macao

Mit Ausnahme von VCH, dessen angegebene Adresse sich im fünften Stock dieses Bürogebäudes befindet, befinden sich die anderen Unternehmen gemäß ihren Angaben im Handelsregister von Macao im ersten Stock.

Ein Reporter fand jedoch keine tatsächlichen Büros der Entitäten im Gebäude oder andere Anzeichen dafür.

Stattdessen fand der Reporter die Büros einer Wirtschaftsprüfungsgesellschaft und einer verwandten Unternehmensdienstleistungsfirma, die anscheinend als Postabwurf für die Investoren fungieren und möglicherweise andere Funktionen bereitstellen.

Diese anderen physischen Unternehmen im Gebäude sind mit einer der größten und renommiertesten Anwaltskanzleien in Macao verbunden.

Ebenso waren an der Adresse nirgends die Personen zu finden, die in den SEC-Unterlagen als ihre Manager und Kontrolleure ihrer Aktienbestände identifiziert wurden.

Diese Personen tauchen auch nicht bei der Suche nach SEC-Unterlagen für ein anderes Unternehmen als Hometown International, E-Waste oder Med Spa Vacations auf.

Die Eigentümer von Global Equity, deren Registrierung besagt, dass das Unternehmen 2016 seinen Betrieb aufgenommen hat, sind als zwei Männer aufgeführt, Michael Tyldesley und Ibrahima Thiam.

Tyldesley ist auch als Geschäftsführer von VCH aufgeführt, das im Mai 2017 gegründet wurde.

Die Eigentümer von IPC-Trading sind als Thiam und als jemand namens Lan Moi Lilia aufgeführt. Der börsennotierte Eigentümer von RTO Ltd. ist eine Person namens Nathalie Tina Pasaywon.

Einreichungen zeigen, dass RTO am selben Tag im Mai 2016 wie Global Equity erstellt wurde.

IPC-Trading wurde vier Monate zuvor in Betrieb genommen.

Das Bürogebäude an der Avenida Da Praia Grande in Macao, China, ist die Adresse für mehrere Unternehmen, die als Investoren in Hometown International, dem Eigentümer eines einzigen Delikatessengeschäfts in New Jersey, aufgeführt sind.

Catarina Domingues | CNBC

Das Rätsel um Paulsboro

Deli in der Heimatstadt, Paulsboro, NJ

Mike Calia | CNBC

Am vergangenen Freitag hat Hometown International in einer außerordentlichen SEC-Meldung seine Marktkapitalisierung abgelehnt und erklärt, dass weder seine Einnahmen noch seine Vermögenswerte einen so hohen Aktienkurs rechtfertigten. E-Waste gab drei Tage später eine identische Ablehnung seines eigenen Aktienkurses heraus.

Der Anwalt von Hometown International hat keine Bitte um Stellungnahme von CNBC zu diesem Artikel zurückgesandt.

Nicht alle Eigentümer von Hometown International sind ein Rätsel – oder ebenso ein Rätsel – wie die in Macao.

Der Investor mit dem vielleicht größten öffentlichen Profil, Paul Morina, ist CEO und Präsident von Hometown International. Er hält satte 30,5 Millionen Stammaktien und Optionsscheine im Unternehmen.

Morina ist in New Jersey High School Wrestling-Kreisen als Trainer des Paulsboro High School-Teams bekannt, das häufig staatliche Titel gewinnt.

Er ist außerdem Principal bei Paulsboro High, zu dessen weiteren Administratoren Christine Lindemuth gehört, die einzige andere Führungskraft von Hometown International. Lindenmuth besitzt nach den neuesten SEC-Unterlagen keine Aktien des Unternehmens.

Morinas Bruder Carmel Morina ist der gewählte Sheriff von Gloucester County, zu dessen Umgebung Paulsboro gehört, eine kleine Stadt direkt gegenüber dem Delaware River von Philadelphia.

Paul Morina hat in den letzten drei Wochen nicht auf wiederholte Anfragen von CNBC nach Kommentaren geantwortet.

Coker-Verbindungen

Hometown International hat drei Hauptaktionäre mit Sitz in Hongkong.

Einer von ihnen, Maso Capital Partners, gründete im vergangenen Jahr eine von Nasdaq gehandelte Zweckgesellschaft, zu deren Vorstandsmitgliedern der Vorsitzende von Hometown International, Coker Jr., gehört, der ebenfalls in Hongkong ansässig ist.

Zu den eigenen Unternehmensinteressen von Coker gehört ein finanziell angeschlagenes Hotel in Macao – The 13 – das sich ursprünglich als das luxuriöseste Hotel der Welt vermarktet hatte.

Das Hotel, zu dessen ersten Investoren Steve Cohens SAC Capital Advisors, Fidelity International und Omega Advisors gehörten, ist seit Februar 2020 wegen der Covid-19-Pandemie für Gäste geschlossen.

Zu den Führungskräften von Maso Capital gehört Manoj Jain, ein ehemaliger Geschäftsführer des zuvor als Och-Ziff bekannten Vermögensverwalters.

Jain besitzt die alleinige Stimm- und Investitionsbefugnis für die beiden anderen Investoren von Hometown International in Hongkong. Diese Investoren sind Unternehmenszweige der Investmentfonds der beiden amerikanischen Universitäten Duke und Vanderbilt.

Jain kontrolliert über die Unternehmen in Hongkong mehr als 52 Millionen Stammaktien und Optionsscheine für Hometown International.

Letzte Woche war Jain die erste Person, die mit dem Deli-Eigentümer verbunden war und in den Wochen, seit er für seine bizarre Aktienbewertung bekannt wurde, öffentlich Stellung nahm.

Jain sagte gegenüber CNBC in einer Erklärung, dass er “sehr besorgt” über “schwerwiegende Vorwürfe” in Bezug auf Cokers Vater Peter Coker Sr. und andere Mitglieder der North Carolina Company des älteren Coker sei.

Sein Kommentar kam, nachdem CNBC die chaotischen rechtlichen und regulatorischen Probleme dokumentiert hatte, an denen Coker Sr. – ein wichtiger Investor in Hometown International – und Personen, die mit Coker Sr. verbunden sind, sowie die Wirtschaftsprüfungsgesellschaft von Hometown International und der erste Anwalt des Unternehmens beteiligt waren.

Die Firma Tryon Capital von Coker Sr. erhielt von Hometown International 15.000 USD pro Monat und von E-Waste 2.500 USD pro Monat für Beratungsarbeiten, bevor diese Verträge im letzten Monat beendet wurden.

Eine SEC-Anmeldung zeigt, dass Tryon Capital im Februar damit begann, Büroflächen an das dritte Unternehmen, Med Spa Vacations, zu vermieten, das ebenfalls in diesem Monat einen einjährigen Beratungsvertrag abschloss, der Tryon Capital 2.500 USD pro Monat zahlt.

Ein von Coker Sr. kontrolliertes Unternehmen namens Hometown Global Services ist nach Global Equity Ltd. der zweitgrößte Anteilseigner von Med Spa Vacations. In seinem im März eingereichten Jahresbericht sagte Med Spa Vacations, dass es für 2020 keine Einnahmen gab, das Jahr ohne Bargeld beendete und für dieses Jahr einen Verlust von mehr als 46.000 USD verzeichnete.

Im Gegensatz zu Jain haben die Macao-Investoren inmitten der Kontroversen um Coker Sr. und Hometown International Mutter gehalten.

Ein Besuch in den Büros in Macao

Am Mittwoch besuchte ein Reporter seine Rechtsadresse in der Avenida Da Praia Grande 759, einem 15-stöckigen Gebäude namens Lun Pong.

Das Gebäude befindet sich im zentralen Geschäftsviertel von Macao und ist von Architektur aus der Zeit umgeben, als Macao eine portugiesische Kolonie war. Es liegt fünf Minuten vom Senado-Platz entfernt, dem Mittelpunkt der Stadt und Teil des UNESCO-historischen Zentrums von Macao World Kulturerbe.

Das Bürogebäude an der Avenida Da Praia Grande in Macao, China, ist die Adresse für mehrere Unternehmen, die als Investoren in Hometown International, dem Eigentümer eines einzigen Delikatessengeschäfts in New Jersey, aufgeführt sind.

Catarina Domingues | CNBC

Die unteren fünf Stockwerke des Gebäudes gehören Rui Jose da Cunha, einem Gründungspartner von C & C Lawyers and Notaries – einer der führenden Anwaltskanzleien in Macao -, die dort ihre Büros hat.

Keiner der Investoren von Hometown International oder einer ihrer Manager oder Eigentümer ist im Verzeichnis in der Lobby des Gebäudes namentlich aufgeführt.

Eine Firma namens Gestores de Projetos Limitada – oder Project Managers Limited auf Portugiesisch – ist als Mieter im ersten Stock aufgeführt.

Dieselbe Etage – deren Wände mit chinesischer Kalligraphie und einem Gemälde der Ruinen von St. Pauls, einem katholischen religiösen Komplex in Macao, versehen sind – ist die rechtliche Adresse für alle Investoren von Hometown International in der Stadt mit Ausnahme von VCH.

Gestores de Projetos Limitada, auch bekannt als GEP, bietet Buchhaltungsdienstleistungen für kleine und mittlere Unternehmen in Macao an.

“Unabhängig davon, ob Sie Ihre Gehaltsabrechnungsaufgaben auslagern oder eine Expertenmeinung zu einer Investitionsmöglichkeit in Macao einholen müssen, können wir Sie zeitnah und kostengünstig unterstützen”, heißt es auf der Website von GEP.

“Wir arbeiten auch eng mit einer der größten Anwaltskanzleien in Macao zusammen, um sicherzustellen, dass Ihr Unternehmen die Gesetze von Macao einhält, und um Sie bei einer Vielzahl von Dienstleistungen zu unterstützen, einschließlich der Gründung oder Ernennung und Abberufung von Direktoren”, heißt es auf der Website .

Als der Reporter einen GEP-Mitarbeiter fragte, ob er etwas über Global Equity Limited wisse, sagte diese Person, dass GEP “Dienstleistungen für dieses Unternehmen” erbringe, was darauf hinweist, dass Global Equity eine Adresse im Büro von GEP hat.

Der Mitarbeiter rief dann einen Partner von GEP an, Rui Pedro Cunha, der CNBC mitteilte, dass er mit den Namen der Unternehmen, die als Investoren von Hometown International bekannt sind, nicht vertraut sei.

Cunha sagte, dass GEP Dienstleistungsunternehmen, die eine Adresse in Macao wollen. Diese Kundenunternehmen erhalten Post an GEP, die sie dann an die Unternehmen weiterleitet, sagte er.

“Normalerweise tun wir das bei Unternehmen, die unsere Buchhaltungsdienstleistungen in Anspruch nehmen”, sagte Cunha, dessen Vater Eigentümer der unteren fünf Stockwerke des Gebäudes und der Anwaltskanzlei C & C ist.

Cunha sagte, er werde prüfen, ob die Investoren von Hometown International zu den Kunden von GEP gehören.

Cunha schickte später eine E-Mail an CNBC und sagte: “Ich kann nicht bestätigen, welches Unternehmen ein Kunde von GEP ist (oder nicht), aber wenn GEP E-Mails für ein Unternehmen bearbeitet und E-Mails für diese erhält, wird GEP diese sicher weiterleiten.”

CNBC antwortete daraufhin und bat ihn, Anfragen an die Investoren von Hometown International und assoziierte Personen weiterzuleiten, damit sie einen Reporter kontaktieren, damit sie Fragen zu diesem Artikel beantworten und Kommentare dazu abgeben können.

Im fünften Stock des Gebäudes – dem angeblichen Standort des Investors VCH – befindet sich ein weiteres Unternehmen namens C & C Secretariado Limitada oder C & C Corporate Services Limited.

Dieses Unternehmen bietet Wirtschaftsprüfungs- und Buchhaltungsdienstleistungen sowie Domizilierungs- und Verwaltungsdienstleistungen für Unternehmen an, die in Macao nicht physisch präsent sind.

Eine Person in dieser Firma lehnte es ab, sich zu CNBC zu äußern

Korrektur: In einer früheren Version wurde der Nachname von Michael Tyldesley falsch geschrieben.

– Catarina Domingues in Macao für CNBC gemeldet.

Categories
Politics

E-Waste disavows inventory value days after $100 million New Jersey deli firm does identical

$100 million New Jersey deli company owner kills consulting deal with shareholder

Hometown deli, Paulsboro, NJ

Mike Calia | CNBC

Shell company E-Waste Corp. rejected its own sky-high market valuation of $ 106 million on Monday, three days after an identical move by the mysterious company that owns only one small deli in New Jersey.

The deli company Hometown International has multiple links with E-Waste, which has no actual business operations.

Both companies are thinly traded on the over-the-counter market at best.

The successive denials of their respective market capitalizations in filings with the Securities and Exchange Commission came after more than two weeks of articles from CNBC setting out legal and regulatory issues relating to individuals and organizations related to Hometown International and E-Waste.

Maso Capital, a Hong Kong-based company, continues to seek to position both companies as vehicles for acquisition by privately held companies in order to be publicly traded in the US stock markets.

In its filing with the SEC on Monday, E-Waste’s management stated that it “is opposed to the price of its publicly listed shares in the OTC markets under the symbol” EWST. “

“Management has no basis for basing the company’s stock price on its earnings or assets,” it says in a language consistent with the filing made by Hometown International last Friday.

Last week, both Hometown International and E-Waste entered into advisory agreements on the same day with a North Carolina company controlled by the Hometown chairman’s father.

The moves quoting the “recent negative press” were praised by Maso Capital founder Manoj Jain. He said, “We look forward to both public companies moving forward with their stated acquisition plans.”

E-Waste raised $ 2.5 million last month from several institutional investors in a private placement offering, according to the announcement filed on Monday.

“Management announced that the proceeds from this private placement would be used for working capital and general corporate purposes to seek, investigate, and, if appropriate, operate a business combination with a private company whose business presents an opportunity for the company’s shareholders,” said the filing.

The filing was signed by E-Waste President John Rollo, whose company reported a net loss of nearly $ 58,000 for the past nine months in November.

66-year-old Rollo, a Grammy-awarded sound engineer, worked as a patient truck in a New Jersey hospital last year.

According to the OTC Markets Group, E-Waste’s share price closed at $ 8.50 per share on Monday with no business in the pink market.

With 12.5 million shares outstanding, E-Waste has a market capitalization of $ 106.25 million.

Hometown International’s stock, also traded on the Pink Market, closed at $ 13.40 per share, with just 2,866 of the nearly 7.8 million outstanding common shares trading in trading.

This share price gives the company a market capitalization of $ 97.85 million. That’s many times the combined revenue of just $ 35,000 in his hometown Deli in Paulsboro, New Jersey, for the past two years.

On April 21, OTC Markets Group downgraded Hometown International from the more prestigious OTCQB platform to its pink market due to “irregularities” in its public announcements. The stock also had a “buyers watch out” label affixed to it by OTC Markets, which CNBC told CNBC at the time that it was also reviewing E-Waste’s financial reports.

It remains unclear why anyone – either close to either company or not – would have paid a lot for both stocks in the past year, let alone updated them from their current valuations, given that they didn’t have any significant business.

Both companies have stated bluntly in their public statements that there is no guarantee that they can survive in their current condition.

E-waste was supposedly created to start an e-waste recycling business in 2012. However, these efforts have ceased and no revenue has been reported for years.

A key figure associated with both companies is Peter Coker Sr., the father of Hometown International Chairman Peter Coker Jr. The elder Coker is an investor in Hometown International.

Last year after a Macau, China-based company called Global Equity Limited bought 6 million restricted shares in E-Waste, a controlling interest, E-Waste’s registration and phone number were moved to Coker Sr.’s Carrboro office , North Carolina. and started paying $ 250 a month for a one-year lease there.

Global Equity is also the largest shareholder in Hometown International.

E-Waste began paying $ 2,500 per month to Tryon Capital from Coker Sr. under an advisory agreement last year.

And Coker Sr. has personally loaned E-Waste $ 255,000 at an annual rate of 8%, according to financial reports. Tryon Capital also raised an additional $ 15,000 per month from an advisory agreement with Hometown International.

These consultancy contracts were terminated last week after CNBC reviewed the agreements.

In late November, E-Waste Hometown International issued a $ 150,000 bond at a rate of at least 6% per annum. This emerges from an SEC filing. This notice indicates that Hometown International loaned this amount to the Shell company.

The promissory note was recognized by Paul Morina, CEO of Hometown International, who is the director of Paulsboro High School, whose prestigious wrestling team he also coaches.

Hometown deli, Paulsboro, NJ

Mike Calia | CNBC

Categories
Health

New Jersey to present free beer to Covid vaccine recipients

New Jersey to give free beer to Covid vaccine recipients

New Jersey Governor Phil Murphy speaks at a press conference after touring the vaccination site at the New Jersey Convention and Exposition Center Covid-19 in Edison, New Jersey on January 15, 2021.

Mark Kauzlarich | Bloomberg | Getty Images

New Jersey Governor Phil Murphy announced a new offer on Monday to promote coronavirus vaccinations: get your first dose in May and get a free beer.

“We’re not going to be afraid to try new things,” said Murphy as he presented the new program, called “Shot and a Beer”, at a press conference.

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Thirteen New Jersey-based breweries are participating in the program, which Murphy says is only available to citizens 21 and older.

These New Jerseyers must show their vaccination cards as evidence before receiving their reward, the Democratic governor said.

The breweries themselves pay for the cost of the free drinks, said Murphy, who suggested that more beer makers could be added to the list soon.

The breweries currently participating are: Battle River Brewing, Bradley Beer Project, Bolero Snort Brewing Company, Brix City Brewing Company, Carton Brewing Company, Flounder Brewing Company, Flying Fish Brewing Company, Gaslight Brewery and Restaurant, Hackensack Brewing Company, Kane Brewing Company, Little Dog Brewing Company, Magnify Brewing Company, and River Horse Brewing Company.

The program came from the New Jersey Department of Health in association with the Brewer’s Guild of New Jersey.

The Garden State is hardly the first to suggest an incentive for people to get vaccinated.

West Virginia Republican Governor Jim Justice announced an initiative last week to give $ 100 savings bonds to younger citizens who get vaccinated.

Connecticut has its own alcoholic incentive with its “Drinks On Us” campaign: residents who get fully vaccinated and show their vaccination cards at certain restaurants will receive a free drink between May 19 and 31.

Incentive or no, vaccination rates are increasing. More than 29% of the US population is fully vaccinated, and cases and deaths from Covid are declining, according to Johns Hopkins University.

But a significant number of Americans say they are not ready to get vaccinated. A survey by Monmouth University published in mid-April found that roughly one in five Americans said they didn’t get the shot.

This is causing health officials and leaders at all levels of government to urge more people to seek and get their vaccinations.

The “Shot and a Beer” campaign is just part of New Jersey’s broader programs aimed at bringing the state back to a more normal summer as the fight against the pandemic continues.

Murphy announced the free beer plan after detailing the “Grateful for the Shot” initiative, which allows parishioners to walk straight to vaccination sites from church services.

It’s “maybe on the other end of the spectrum” of incentives, Murphy said.

Categories
Politics

$100 million New Jersey deli firm proprietor kills consulting cope with shareholder

$100 million New Jersey deli company owner kills consulting deal with shareholder

Hometown deli, Paulsboro, NJ

Mike Calia | CNBC

The mysterious $ 100 million corporation, which as of Monday owns a single delicatessen store in New Jersey, killed the advisory deal that has been paying $ 15,000 a month to a company controlled by its chairman’s father since last May.

Hometown International’s move to terminate the consultancy agreement with Tryon Capital LLC by mutual agreement came after articles from CNBC detailing the close relationships between Tryon Capital partner Peter Coker Sr. and the deli owner, chairman Peter Coker Jr from Hong Kong.

The elder Coker is also a shareholder in Hometown International, whose combined revenue for the past two years has been about $ 10,000 less than what the Tryon Capital company paid in consulting fees.

“Given the recent negative press against the company and Tryon’s clients, the parties determined that it was in the best interests of the company and its shareholders to terminate the advisory agreement at this point,” Hometown International said in its 8-K Filing with the Securities and Exchange Commission.

“The parties believe such termination will reduce distractions and allow the company to advance its proposed acquisition strategy,” the file said.

The registration was signed by Paul Morina, CEO of Hometown International, who is also a Principal and Head Wrestling Coach at Paulsboro High School in Paulsboro, New Jersey, where the deli is located.

At the same time, E-Waste – a Shell company affiliated with both Coker Sr. and Hometown International – terminated its own consultancy agreement on Monday that paid Tryon Capital $ 2,500 a month.

Hometown deli in Paulsboro, NJ

CNBC

In E-Waste’s own 8-K report, which announced the end of the consulting contract, “the recent negative press” regarding this company “and Tryon’s clients” was also mentioned.

The end of the contracts was praised by Manoj Jain, founder of Maso Capital in Hong Kong, a major investor in Hometown International. Maso Capital uses Hometown International and E-Waste as vehicles for acquisitions.

Jain made a statement referring to CNBC’s coverage last week of controversy surrounding Peter Coker Sr., others associated with Tryon Capital, and E-Waste.

“We are very concerned about these serious allegations and are pleased that the relationship between the two companies and Tryon Consulting has now ended,” Jain said in a statement to CNBC.

“We look forward to both public companies advancing their stated acquisition plans,” said Jain.

Jain owns sole voting rights over approximately 2.5 million common shares of Hometown International, or more than 20% of the nearly 8 million common shares outstanding. The stock closed at $ 13.29 per share on Monday, up 0.38%.

An SEC filing by Hometown International in April 2020 and a similar filing by E-Waste earlier this month suggest that both companies intend to raise investments from Jain and others to fund efforts to evaluate potential merger candidates with other companies, particularly private companies, to use.

The filings of the individual companies almost exactly one year apart show that they have either sold or sold 2.5 million shares apiece as part of these efforts.

While Hometown International has combined sales of around $ 36,000 in its Paulsboro delicatessen store in the past two years and E-Waste has no significant business, both companies could be attractive to private companies looking to become US public companies through the use of reverse merger or other means.

Tryon Capital’s advisory agreements expire days after Hometown International was delisted from the more prestigious OTCQB and relegated to the less prestigious Pink market for “public interest reasons”.

Hometown International has also been given a “Buyers Attention” warning sign by the OTC Markets Group, which operates these marketplaces.

OTC Markets executives said the downgrade was due to “irregularities” in Hometown International’s public statements.

OTC Markets executives also said they were watching filings from E-Waste, whose mailing address is that of another North Carolina company affiliated with Coker Sr. that has borrowed more than $ 200,000 from E-Waste.

E-waste also owes Hometown International $ 150,000, according to a promissory note filed with the SEC.

E-waste, which trades on the Pink market, saw no stock sales on Monday and ended the day at $ 8.41 per share, a staggering $ 105 million market cap.

CNBC has detailed how Peter Coker Sr., who holds more than 63,000 common shares of Hometown, has been sued in the past for allegedly hiding money from creditors and corporate-related fraud. He has denied these allegations.

In August 1992, Coker Sr. was arrested in Allentown, Pennsylvania, and “charged with prostitution and other crimes after allegedly exposing himself to three girls while driving around a school one night,” The Morning Call reported at the time . Coker Sr. and his son did not respond to repeated requests for comment.

CNBC has also detailed Coker Sr.’s links with E-Waste.

Coker Sr.’s partner in Tryon Capital, Peter Reichard, stepped in in 2011 on a criminal case that resulted in his conviction of an illegal donation program of thousands of dollars to the successful 2008 campaign for the governor of North Carolina at Bev Perdue , a Democrat.

The program involved the use of a fake advisory contract between Tryon Capital Ventures and a fast food franchisee who wanted to endorse Perdue. Coker Sr. was not charged in this case.

Reichard is also a managing director with Coker Sr. of a company called Europa Capital Investments, which owns 90,400 common shares of Hometown International and has warrants for an additional 1.9 million shares.

James Patten, a financial analyst at Tryon Capital, wrestled with Morina, CEO of Hometown International, in high school.

Patten is banned from working as a stockbroker or working with broker-dealers by FINRA, the broker-dealer regulator, according to the regulator’s database, which lists several disciplinary actions taken against Patten over the course of his career.

Hometown International conducted a full audit for nearly two weeks after hedge fund manager David Einhorn found the company’s market cap exceeded $ 100 million despite only owning a tiny deli.

A major investor in both Hometown and E-Waste is a Macau, China-based company called Global Equity Limited.

An owner of Global Equity, Michael Tyldesley, is listed in the financial statements as the director of another Macau company, VCH Limited, which also has interests in Hometown International.

VCH Limited has entered into an advisory agreement with Hometown International which, according to SEC filings, pays $ 25,000 per month.

That agreement was not mentioned in the filings filed on Monday announcing the termination of Tryon Capital’s advisory agreements with Hometown International and E-Waste.

Categories
Politics

$100 million New Jersey deli linked to shell firm E-Waste

Hometown International, NJ deli owner, worth millions in stock

Ihr Deli in Ihrer Heimatstadt in Paulsboro, NJ

Google Earth

Wir werden haben, was sie haben.

Ein mysteriöses 100-Millionen-Dollar-Unternehmen, das nur ein kleines Delikatessengeschäft in New Jersey besitzt, ist in mehrfacher Hinsicht mit einem anderen Unternehmen verbunden, E-Waste Corp.

Die Aktien von E-Waste, wie die des Deli-Besitzers Hometown International, sind im vergangenen Jahr stark angestiegen und haben Anfang dieses Monats eine Marktkapitalisierung von mehr als 100 Millionen US-Dollar erzielt. Dieser Anstieg ereignete sich, obwohl E-Waste kein wirklich laufendes Geschäft hat, wie Aufzeichnungen belegen.

Aus den Unterlagen geht auch hervor, dass Hometown International Ende letzten Jahres E-Waste 150.000 US-Dollar geliehen hat. Das Delikatessengeschäft war im vergangenen Jahr wegen der Covid-Pandemie für mehr als fünf Monate geschlossen.

Und wie der CEO von Hometown International, ein Schulleiter und Head Wrestling-Trainer aus New Jersey, hatte John Rollo, CEO von E-Waste, kürzlich einen Job, der für den Leiter eines Unternehmens ungewöhnlich ist, das auf dem Papier einen Wert von mehreren zehn Millionen Dollar hat. Er war ein Patiententransporter in einem Krankenhaus im Norden von New Jersey und arbeitet offenbar immer noch im selben Gesundheitssystem.

Die Karrieregeschichte des CEO von E-Waste ist voller anderer überraschender Umwege. Der 66-jährige Rollo, der keinen Anruf mit der Bitte um einen Kommentar erwiderte, gewann zuvor zwei Grammy-Preise während seiner langen Karriere als Toningenieur und Produzent auf Alben von Künstlern wie The Kinks, Joe Cocker, Whitney Houston, Kool & the Gang und Quiet Riot , zeichnet Zustand auf.

Außerdem war er fast 18 Jahre lang Vice President für Operations bei Comus International, einem in New Jersey ansässigen Schalt- und Sensorhersteller. Rollo wurde 2019 von Comus entlassen, laut einer Klage, die er in diesem Jahr im Zusammenhang mit seiner Kündigung eingereicht hatte.

Zu den Verbindungen zwischen E-Waste und Hometown International, deren Your Hometown Deli in Paulsboro in den letzten zwei Jahren zusammen einen Umsatz von nur etwa 35.000 US-Dollar erzielt hatte, gehört, dass dasselbe Unternehmen in Hongkong ihre größten Anteilseigner sind, ähnliche Beratungsverträge mit Unternehmen, die von Investoren kontrolliert werden, und deren Unternehmen derzeitige Nutzung derselben New Yorker Anwaltskanzlei.

Und genau wie bei frühen Finanzanträgen von Hometown International zeigen die ersten behördlichen Einreichungen von E-Waste die Beteiligung eines Anwalts, der später von der Securities and Exchange Commission wegen Beteiligung an betrügerischen Vorhaben zur Gründung von Unternehmen verklagt wurde.

Der Anwalt für E-Waste war ein anderer als der ursprünglich von Hometown International verwendete – Hometowns früherer Anwalt wurde im Gegensatz zu E-Waste wegen verwandter Bundesverbrechen angeklagt und verurteilt.

Eine weitere Ähnlichkeit zwischen den Unternehmen besteht darin, dass niemand, der mit ihnen in Verbindung steht, Anrufe oder E-Mails von CNBC zurückgegeben hat.

Eine Schlüsselfigur in beiden Unternehmen ist Peter Coker Sr., ein 78-jähriger Geschäftsmann aus North Carolina, dessen Sohn Peter Coker Jr. Vorsitzender von Hometown International ist.

Der jüngere Coker ist Executive Chairman von South Shore Holdings Ltd., einem Unternehmen in Hongkong, das ein finanziell angeschlagenes Hotel in Macau, China, besitzt: The 13.

Zu den ersten Investoren dieser überaus luxuriösen Immobilie gehörten Steve Cohens SAC Capital Advisors, Fidelity International und Omega Advisors. Die Website der 13 gibt an, dass sie seit dem 15. Februar 2020 wegen der Coronavirus-Pandemie geschlossen ist.

Aufzeichnungen zeigen, dass Coker Sr. ein Investor in Hometown International ist, ebenso wie ein Unternehmen von ihm, Europa Capital.

Zu den größten Anteilseignern von Hometown International gehören drei separate Unternehmen in Hongkong, die alle dieselbe Adresse haben, und vier separate Unternehmen in Macau, die dort ebenfalls alle dieselbe Adresse haben.

Paul Morina, der CEO des Deli-Besitzers und Direktor und Wrestling-Trainer der örtlichen High School, ist ebenfalls ein Hauptaktionär von Hometown.

Ein Nettoverlust und große Verbindlichkeiten

E-Waste, das sich in den von der Securities and Exchange Commission eingereichten Unterlagen als Shell-Unternehmen bezeichnet hat, hatte im November eine Bilanzsumme von fast 183.000 USD und Verbindlichkeiten von fast 412.400 USD, wie aus der jüngsten 10-Q-Meldung bei der SEC hervorgeht.

Das Unternehmen hatte in den neun Monaten zum 30. November einen Nettoverlust von fast 58.000 USD.

Das Unternehmen wurde 2012 in Florida gegründet, “um ein E-Abfall-Recycling-Geschäft aufzubauen”, aber “war in seinen Bemühungen nicht erfolgreich und hat diesen Geschäftsbereich eingestellt”, so die SEC-Unterlagen.

Seitdem ist das Unternehmen ein Shell-Unternehmen und möchte “einen Unternehmenszusammenschluss mit einem privaten Unternehmen eingehen, dessen Geschäft seinen Aktionären eine Chance bietet”, heißt es in der Akte.

Aus dieser Einreichung geht auch hervor, dass erhebliche Zweifel daran bestehen, dass E-Waste im nächsten Jahr im Geschäft bleiben kann, und dass das Unternehmen “seit seiner Gründung erhebliche Verluste erlitten hat und nicht in der Lage ist, ausreichende Einnahmen zu erzielen”, um rentabel zu werden .

“Es kann nicht garantiert werden, dass rentable Operationen jemals erreicht werden oder, falls sie erreicht werden, auf kontinuierlicher Basis aufrechterhalten werden können”, heißt es in der Akte.

“Wenn das Unternehmen kein zusätzliches Kapital erhält, muss das Unternehmen den Umfang seiner Geschäftsentwicklungsaktivitäten reduzieren oder den Betrieb einstellen.”

Trotz dieser äußerst schlechten Aussichten geht es der Aktie von E-Waste recht gut.

Die Aktie, die offenbar im Juli letzten Jahres mit 2 Cent pro Aktie gehandelt wurde – danach wurden die Aktien wochenlang für deutlich unter 1 USD pro Stück verkauft – ist seitdem stark gestiegen.

Letzte Woche erreichte die Aktie, von der 10 Millionen Stammaktien im Umlauf sind, einen Höchststand von 10,25 USD je Aktie. Es gab dem Unternehmen eine Marktkapitalisierung von 100,25 Millionen US-Dollar. E-Waste schloss am Mittwoch mit 8,26 USD je Aktie, was einem Rückgang von 17,4% entspricht, was einer Marktkapitalisierung von 82,6 Mio. USD entspricht.

Am 12. April schloss E-Waste einen sogenannten “Zeichnungsvertrag … mit drei” akkreditierten Investoren “ab, die 2,5 Millionen Einheiten der Wertpapiere des Unternehmens zu einem Preis von 1 USD pro Einheit kauften, was 2,5 Millionen US-Dollar entspricht ein Unternehmen, das bei der SEC einreicht. Jede Einheit besteht aus einer Stammaktie und einem Optionsschein zum Kauf von zwei weiteren Stammaktien zu einem Ausübungspreis von 4,50 USD pro Aktie.

E-Waste erklärte in seiner Einreichung, dass es beabsichtige, den Erlös aus dem Verkauf der Einheiten für “Betriebskapital, allgemeine Unternehmenszwecke” zu verwenden und einen Unternehmenszusammenschluss mit einer privaten Einrichtung zu suchen, zu untersuchen und gegebenenfalls zu betreiben, deren Das Geschäft ist eine Chance für unsere Aktionäre. “

Weitere Verbindungen zwischen Heimatstadt, E-Waste

Der Bestand von E-Waste und Hometown International wird im Freiverkehr gehandelt. Das Handelsvolumen in beiden Unternehmen war im vergangenen Jahr in der Regel sehr gering.

Das Volumen der Hometown International-Aktien hat sich jedoch nach einer spöttischen Erwähnung der Unternehmensbewertung in einem Brief an Kunden des Hedgefonds-Managers David Einhorn am Donnerstag erhöht, der sagte: “Der Pastrami muss erstaunlich sein.”

Die Aktie von Hometown International stieg von 3,25 USD pro Aktie Ende März 2020 – als die Covid-19-Pandemie ihr Delikatessengeschäft für mehr als fünf Monate geschlossen hatte – auf bis zu 14 USD pro Aktie Anfang dieses Monats.

Der eigene Anstieg von E-Waste an der Börse erfolgte nach einem großen Wechsel in Eigentümer und Management des Unternehmens, der vor Herbst 2020 bei einer Firma in der Park Avenue in Manhattan, GEM Group, registriert wurde.

Anfang letzten Jahres waren vier der fünf größten Anteilseigner von E-Waste in der Reihenfolge der Größe der gehaltenen Anteile: der in Valletta, Malta, ansässige GEM Global Yield Fund LLC SCS, und drei Personen, deren Adresse die eines sogenannten GEM war Berater in der Madison Avenue in New York.

Zu dieser Zeit war der Präsident, Schatzmeister und Sekretär von E-Waste ein Mann namens Peter de Svastich, der Geschäftsführer der GEM Group ist.

Als CNBC am Mittwoch de Svastich anrief, schnappte er: “Ich weiß nicht, wer Sie sind, und ich spreche nicht mit Reportern” – bevor er auflegte.

GEM, der Mehrheitsaktionär von E-Waste, verkaufte im vergangenen Jahr 6 Millionen eingeschränkte Aktien des Unternehmens für 30.000 USD an Global Equity Limited – ein in Macau, China, ansässiges Unternehmen.

Global Equity Limited ist der größte Einzelaktionär von Hometown International, dem Deli-Eigentümer, dessen Vorsitzender der Sohn von Coker Sr. ist.

De Svastich trat im Rahmen dieses Verkaufsvertrags für E-Waste-Aktien an Global Equity Limited zurück – und Rollo, der Musikproduzent und Patiententransporter, übernahm die alleinige Geschäftsführung bei E-Waste.

Die Registrierung und Telefonnummer von E-Waste wurde ebenfalls in das Büro von Coker Sr. in Carrboro, North Carolina, geändert. Das Unternehmen schloss einen einjährigen Mietvertrag für das dortige Büro zu einem monatlichen Preis von 250 US-Dollar ab, teilte das Unternehmen in seiner SEC-Meldung mit.

Im selben Monat erhielt E-Waste von Coker Sr. ein Darlehen in Höhe von 255.000 USD. Dies geht aus der Einreichung hervor, wonach die Zinsen für dieses Darlehen 8% pro Jahr betragen.

E-Waste zahlt der Firma Tryon Capital von Coker Sr. monatlich Beratungsgebühren in Höhe von 2.500 USD, wie aus einer SEC-Meldung hervorgeht.

Hometown International zahlt Tryon Capital außerdem eine monatliche Beratungsgebühr von 15.000 USD. Dieser Deal bedeutet, dass Hometown über drei Monate mehr Beratungsgebühren zahlt als das zugrunde liegende Deli-Geschäft, das in den letzten zwei Jahren im Verkauf getätigt wurde.

Die Heimatstadt leiht E-Waste Geld

Ende November gab E-Waste Hometown International einen Schuldschein über 150.000 US-Dollar aus, aus dem hervorgeht, dass Hometown dem anderen Unternehmen einen Kredit in dieser Höhe gewährt hat. Der Zinssatz für diese Schulden gegenüber Hometown wird in der Anmeldung in einem offensichtlichen Tippfehler sowohl mit 8% als auch mit 6% angegeben.

Die Notiz wurde von Rollo unterzeichnet und von Morina, dem Präsidenten und CEO von Hometown International, als akzeptiert unterzeichnet.

Morina, 62, ist Direktorin der Paulsboro High School, die sich in der Nähe des Delikatessengeschäfts befindet, das Hometown International besitzt. Er ist auch Cheftrainer des renommierten Wrestling-Teams dieser Schule, das unter seiner Führung häufig staatliche Meisterschaften gewonnen hat.

Morinas 1,5 Millionen Stammaktien von Hometown International haben auf dem Papier einen Wert von mindestens mehr als 19 Millionen US-Dollar. Er verfügt über Optionsscheine für weitere 30 Millionen Aktien, die theoretisch einen Wert von fast 400 Millionen US-Dollar zum aktuellen Aktienkurs von Hometown International haben.

Der Schuldschein von E-Waste an Hometown International gab die Firmenadresse des Deli-Eigentümers als Wohnsitz in Woodstown, New Jersey, an, wo Christine Lindenmuth wohnt.

Lindenmuth ist Vizepräsident und Sekretär von Hometown International. Sie ist außerdem Mathematiklehrerin und Administratorin an der Paulsboro High School.

Von Morristown nach Indien

Laut einer SEC-Meldung ist Rollo seit März 2020 als Patiententransporter für Atlantic Health Systems in New Jersey tätig.

Ein Vorgesetzter im Büro für Patiententransport in einer der Einrichtungen des Unternehmens, dem Morristown Medical Center, teilte CNBC mit, dass Rollo zuvor in dieser Abteilung gearbeitet habe, derzeit aber an anderer Stelle in Atlantic Health Systems arbeite.

CNBC hat Sprecher von Atlantic Health kontaktiert, um zu fragen, wo Rollo derzeit arbeitet.

Laut SEC-Unterlagen von E-Waste war Rollo von Januar 2010 bis November 2019 auch “Vorstandsvorsitzender von Switching Technologies Gunther, LTD (‘STG’) in Chennai, Indien”, einem Unternehmen, das früher an der BSE notiert war bekannt als die Bombay Stock Exchange.

Dieser Zeitrahmen überschneidet sich mit Rollos Arbeit bei Comus, die sich selbst als einer der führenden Hersteller von Schaltern auszeichnet.

Aufzeichnungen zeigen, dass Rollo CEO eines anderen Unternehmens ist, Med Spa Vacations, dessen Postanschrift auch das Carrboro-Büro von Coker Sr. ist.

SEC-Einreichungen von Med Spa Vacations zeigen, dass zu seinen Aktionären Global Equity Limited gehört.

Global Equity Limited hält außerdem 2 Millionen Stammaktien von Hometown International, die das Unternehmen im April 2020 von Peter Coker Jr., dem Vorsitzenden des Unternehmens, gekauft hat. Global Equity Limited verfügt über Optionsscheine für weitere 40 Millionen Aktien von Hometown International.

Die Eigentümer von Global Equity Limited sind als zwei Personen aufgeführt, Michael Tyldesley und Ibrahima Thiam.

Laut Angaben von Med Spa Vacations besitzen Tyldesley und Thiam “90% bzw. 10% der Anteile an Global Equity Limited und verfügen über eine gemeinsame Stimm- und Investitionsbefugnis über die Aktien, die direkt im Besitz von Global Equity Limited sind.”

Tyldesley ist auch als Geschäftsführer von VCH Limited aufgeführt, einem weiteren Unternehmen in Macau, das 500.000 Stammaktien von Hometown International besitzt und über Optionsscheine für weitere 10 Millionen Aktien verfügt.

Im vergangenen Mai hat Hometown International, wie aus den Unterlagen hervorgeht, einen Beratungsvertrag mit VCH Limited geschlossen, der vom Deli-Eigentümer monatlich 25.000 US-Dollar ausgezahlt wird.

Diese monatliche Zahlung ist nur etwa 10.000 US-Dollar weniger als die Delikatessen von Hometown International, die in den letzten zwei Jahren in italienischen Hoagies, Cheesesteaks und Pommes Frites verkauft wurden.

Die Geschichte von Coker Sr.