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 Exchange Commission. The parties believe that such termination will reduce distractions and enable the Company to move forward with its planned acquisition strategy, the filing said.
$100 million New Jersey deli company kills consulting deal with firm run by chairman s father
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$100 Million New Jersey Deli Company Kills Consulting Deal With Firm Run by Chairman s Father
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Hometown International s stock has soared over the past year, giving it a market capitalization of a $100 million or more despite sales at its Paulsboro, N.J., deli of only about $35,000 combined in the past two years.
The stock, which had traded as low as $4.75 per share last year, closed Wednesday on the OTCQB market at $13.07 per share, up 2.51% from the prior day.
Cromwell Coulson, the CEO of OTC Markets Group, tweeted late Wednesday: $HWIN Delisted from OTCQB for not complying with the rules and marked CE for public interest concerns.
$HWIN Delisted from OTCQB for not complying with the rules and marked CE for public interest concerns https://t.co/pMKO55Uq2B Cromwell Coulson (@cromwellc) April 22, 2021