Page 2 - Tryon Capital News Today

The New Jersey deli owned by Hometown International will not be operated by the merged company.

Hometown International Inc, which owns a single deli in Paulsboro, New Jersey baffled observers earlier this year when its parent company soared in value in over-the-counter trading.

Hometown International has a massive stock market capitalization despite owning just a small New Jersey deli.

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 Trumps 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 di...

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...

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 wee...

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Paulsboro deli operator cites negative press in ending agreement AP Top Stories April 27 Replay Video UP NEXT PAULSBORO - A deli firm thats drawn widespread attention for its curious finances has ended a business agreement due to "negative press." Hometown International Inc., which has attracted deep-pocketed investors for a business with a single Paulsboro sandwich shop, said its ended a $15,000-per-month consulting agreement with Tryon Capital LLC of North Carolina. © Chris LaChall/Courier...

The termination agreement was signed by Morina and Peter L. Coker, a Tryon partner and the father of Hometowns chairman, Peter L. Coker Jr. Hometown, which last year had its status questioned by the U.S. Securities and Exchange Commission, drew widespread publicity earlier this month after a skeptical assessment by a hedge fund operator. David Einhorn of Greenlight Capital noted Hometown had 2020 revenue of just $14,000 from its Mantua Avenue deli, but an eye-popping stock value of  bout $1...

The elder Coker is also a shareholder in Hometown International, whose sales in the past two years combined were about $10,000 less than what the company paid Tryon Capital in consulting fees. "In light of the recent negative press regarding the Company and the principals of Tryon, the parties determined that it was in the best interests of the Company and its shareholders to terminate the Consulting Agreement at this time," Hometown International said in its 8-K filing with the Securities and ...