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."
The acronym "CE" stands for "caveat emptor," the Latin phrase that means "buyer beware." OTC Markets Groups operates the OTCQX Best Market, OTCQB Venture Market and Pink Market for about 11,000 U.S. and foreign securities. Earlier Wednesday, in announcing the Caveat Emptor label on Hometown International, the OTC Markets Group's Twitter account linked to its explanation of the label.
Hometown International's CEO, Paul Morina, is the principal and head wrestling coach at Paulsboro High School, which is located near the company's Your Hometown Deli. He holds common stock and warrants totaling 30.5 million shares.Neither has the company's chairman, Hong Kong-based Peter Coker Jr., or his father, Peter Coker Sr., a key investor in Hometown International, whose firm Tryon Capital has a $15,000 per month consulting deal with the deli owner.
Other than Morina's holdings, most of the company's shares are held by two sets of entities in Hong Kong and Macao, China. Each set of entities shares the same address in their respective cities.
The Pink Sheets have rules?
So when will we see the article about what happens to the Wallies connect to the company. Oh im sorry im losing my mind wall street has there own rules. deadbrokersociety
So many questions I don't know where to start. How does a deli making $35K a year get listed? A school principal worth millions with foreign investors in a single store deli operation? What?
The $100 Million and that picture - do not align. :)
Don't be so quick to discount the international franchise opportunity of the Hometown International deli. 🙈
Womp womp
$100 million fraud and the authorities don’t really care? White collar crime is clearly the best kind of crime.
I know a good amount about fraud and these guys are clearly laundering money
No way! 100M deli that wasn’t following rules I don’t believe it! These guys seem like they have a giant financial legal team
Someone make a movie
Wait there’s rules on the pink sheets? Rules for fraud?
by 'not complying with rules' do you mean 'being an obvious fraud?'