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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 connect...

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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 that's 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 it's ended a $15,000-per-month consulting agreement with Tryon Capital LLC of North Carolina. © Chris LaChall/Courier-Post Paulsboro High School wrestling coach Paul Morina instructs during the wrestling match be...

The termination agreement was signed by Morina and Peter L. Coker, a Tryon partner and the father of Hometown's 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 $100 million. "The pastrami must be amazing," David Einhorn of Greenlight Capital reportedly said i...

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 ...