Hometown Deli, Paulsboro, N.J.
Mike Calia | CNBC
The shell company E-Waste on Monday disavowed its own sky-high stock market valuation of $106 million, three days after an identical move by the mysterious corporation that owns just a single New Jersey deli.
The deli company, Hometown International, has multiple connections to E-Waste. Both companies have a market capitalization of about $100 million, which does not reflect their meager business operations.
“The management of E-Waste Corp. … disavows the price of its publicly quoted stock on the OTC Markets under the trading symbol ‘EWST,'” the company said in an 8-K filing with the SEC.
“Management is aware of no basis to support the Company’s stock price, based upon its revenue or assets,” the filing said.
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