Gamestop : WTF et WSB

[Lexington]

Quand tu regardes le profil des officers de la boîte selon la SEC, tu te dis wtf déjà:

 

  Citation

Paul F. Morina, President, CEO, CFO, Treasurer and Director - Paul F. Morina, President, CEO, CFO, Treasurer and Director - Since 2008, Mr. Morina has been the Principal of Paulsboro (NJ) High School and as the Head Wrestling Coach since 1986. Mr. Morina has spent his entire career in the Paulsboro Public School District where he began as an Elementary School Physical Education Teacher and Health Instructor in 1982. He has held the positions of High School Physical Education and Health Instructor, Head Coach, and High School Athletic Director. While at James Madison University, he was a two-time NCAA Eastern Regional champion. Mr. Morina has been highly successful coaching high school wrestling for over 27 years in his hometown of Paulsboro, N. J. Named the 1994 State Wrestling Man-of-the-Year by Wrestling USA Magazine, his teams have won 25 class state championships, 24 district championships and 25 conference titles. He has a 550-34-4 overall record and has led the Paulsboro wrestling program to exceed 1,000 victories. In addition to his work within the Paulsboro public school systems, Mr. Morina served as a Member of Paulsboro Town Council from 2005 to 2011. Mr. Morina earned his B. A. from James Madison University and his M. Ed. degree from Widener University. We believe that Mr. Morina’s in-depth knowledge and extensive experience makes him a valuable member of our board of directors. We believe that Mr. Morina’s in-depth knowledge and extensive experience makes him a valuable member of our board of directors.

 

Christine T. Lindenmuth, Vice President, Secretary and Director - Since September 2012, Ms. Lindenmuth has been a Math Teacher at Paulsboro High School, where she is also active in the Paulsboro Education Association, Mentor Club, Renaissance Committee and Alternative Education Program. Prior to Paulsboro High, Ms. Lindenmuth was a Student Advisor at Salem Community College from 2010 through 2012. She has also served as a School Counselor at Gateway Regional High School, Lindenwold High School and Salem County Vocational School. Ms. Lindenmuth started her career as a Math Teacher in 1997 at the PG-CP Regional High School, where she taught accelerated students at the Academy of Science and Engineering. Ms. Lindenmuth currently serves on Salem County School Employee Federal Credit Union Loan Committee, as an Association Representative for the Penns Grove Chapter of the New Jersey Teachers Union, and as a representative on the State Educational Policy Committee for the New Jersey Education Association. Ms. Lindenmuth earned her B.A. from Rider University and her M. Ed. from Wilmington University. We believe that Ms. Lindenmuth’s in-depth knowledge and extensive experience makes her a valuable member of our board of directors. We believe that Ms. Lindenmuth’s in-depth knowledge and extensive experience makes her a valuable member of our board of directors. 

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Le chairman, ça pue le truc pas clair, pour une société de 20k$ de CA en 2020..

 

  Citation

Peter L. Coker Jr., Chairman – Peter L. Coker Jr., Chairman – Since February 2013, Mr. Coker has been the Chairman (Executive Director) of South Shore Holdings Limited, a Hong Kong listed company. He is also a member of that company’s Finance and Investment Committee, Disclosure Committee and Executive Committee, and a director of its various subsidiaries. Mr. Coker was the Managing Partner of Pacific Advisers, and was also a partner of TDR Capital Investment Ltd (a Shenzhen-based private equity firm) from 2009 to 2013. From 2006 to 2009, Mr. Coker served as Chairman of Global Trading Offshore Pte (Singapore). From 2002 to 2005, Mr. Coker served as the Chairman of Wellington Securities (New Zealand). Mr. Coker served as an officer of the Bridge Companies prior to joining Wellington Securities (New Zealand) in 2002. During his service with the Bridge Companies, Mr. Coker held the title of Managing Director-Asia, Chief Executive Officer of E-Bridge and Managing Director of Bridge Asia where he was responsible for the firm’s equity business in Japan and South East Asia/Australia. From 2000 to 2001, Mr. Coker served as the Chairman of IRESS Market Technology Limited (formerly BridgeDFS) (ASX: IRE). Mr. Coker graduated from Lehigh University in the United States with a Bachelor of Arts degree in 1990. Our board of directors believes Mr. Coker’s industry experience, as well as his extensive finance and operations experience, uniquely position him to lead the Company through our next phase as a company. Our board of directors believes Mr. Coker’s industry experience, as well as his extensive finance and operations experience, uniquely position him to lead the Company through our next phase as a company.

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Et des transactions entre related parties dans tous les sens quand tu lis leurs documents, ça pue tout autant :

 

  Citation

Effective as of May 1, 2020, we also entered into a Consulting Agreement with VCH Limited, a company formed under the laws of Macau (“VCH”) which owns in excess of 10% of our common stock. Pursuant to this agreement, VCH was engaged as a consultant to the Company, to, among other things, create and build a presence with high net worth and institutional investors. The term of the agreement is one year; provided, however, that each party has the right to terminate the agreement upon 30 days’ prior written notice to the other. Pursuant to the agreement, VCH shall receive $25,000 per month during the term of the agreement, in addition to reimbursement of expenses approved in advance by the Company (See Note 7). 

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Ca sent bon les hommes de paille.

 

J'aurais dit blanchiment, en achetant des actions 200 et en les revendant 100, mais 100 propres.

 

Edit: https://www.cnbc.com/2021/04/19/hometown-international-nj-deli-linked-legal-problems.html

[Lexington]

Vue intéresssante, sur le pourquoi de la situation, et, en filigrane, l'intérêt de la vente à découvert pour donner les incentives au marché à avoir une "vraie" valorisation https://www.bloomberg.com/opinion/articles/2021-04-20/-100-million-new-jersey-deli-is-representative-of-nothing

[Lexington]

Sur Hometown Deli, ça serait un SPAC

 

https://markets.businessinsider.com/news/stocks/new-jersey-deli-spac-hometown-international-100-million-hong-kong-2021-4-1030371894

 

Ou une caricature de SPAC à ce stade... Via un fonds à HK (Maso Capital). Le tout avec une autre société +- louche, sans activité mais valorisée 100M+$. https://www.cnbc.com/2021/05/03/e-waste-disavows-stock-price-days-after-100-million-new-jersey-deli-company-does-same.html

 

Tout cela ressemble à une farce

[Lameador]

Maso Capital  . Tout un programme.

[AX-poulpe]

  Le 24/05/2021 à 17:30, Lameador a dit :

Maso Capital  . Tout un programme.

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Ils investissent dans le gaz de schiste ?

[Neomatix]

https://www.ft.com/content/da4135f9-6e4d-4896-87c3-91691d3a9b41

 

Two arrested on fraud charges linked to ‘$100mn deli’ in New Jersey
 

 

  Révéler le contenu masqué

A New Jersey sandwich shop with a valuation of $100mn, which became a symbol of stock market exuberance, was at the centre of an international conspiracy that defrauded investors and wrecked the ambitions of two high school teachers, according to an indictment unsealed in federal court on Monday. Federal agents in North Carolina arrested Peter Coker, 80, and James Patten, 63, on securities fraud charges related to their alleged role in inflating the share price of Hometown International. Coker’s 53-year-old son Peter Coker Jr also faces charges and is still at large. The deli gained notoriety on Wall Street in April last year after Hometown International was named by hedge fund manager David Einhorn as an example of the “quasi-anarchy” that he said had taken hold in financial markets. “The pastrami must be amazing,” Einhorn quipped at the time. Hometown’s share price soared from $1 in October 2019 to nearly $14 by April 2021, even as revenue hovered at about $40,000 and lawyers for the company acknowledged that it was having “limited success operating its . . . delicatessen”. Prosecutors say the inflated valuation was the result of co-ordinated trades that were designed to create the false impression that there was real market interest in the securities. They added that some of the trades were placed by the defendants themselves, using brokerage accounts belonging to their friends and associates. On one occasion last January, an account belonging to a Staten Island resident who was an associate of Patten was used to sell shares at a price of $13.99, prosecutors said. The buyer, who lives in New Jersey, turned out to be a close relative of Patten’s romantic partner, they added. Both orders were allegedly traced by law enforcement to an internet connection serving Patten’s home. Prosecutors claim some of the allegedly manipulative transactions were placed by an unindicted co-conspirator based in Hong Kong. They said Coker Jr also lives in Hong Kong. The charges filed by New Jersey prosecutors, together with a parallel civil action by the SEC, shed new light on one of the strangest episodes to emerge from the financial frenzy that seized Wall Street during the pandemic. The saga began in 2014, when two employees at Paulsboro High School began making plans to open a delicatessen in the dusty refinery town. Patten, who had known one of the teachers since his youth, offered to lend a hand, prosecutors alleged. “Unbeknownst to the deli owner . . . Patten and his associates began positioning Hometown International as a vehicle for a reverse merger that would yield substantial profit to them,” prosecutors said on Monday. Recommended News in-depthSpecial purpose acquisition companies The strange case of the ‘$100m deli’ and the universities that own a slice Shares in Hometown International began changing hands on OTC Marketplace, a trading venue for illiquid small-cap stocks, in October 2019. By last year, shareholders included the endowments of Duke and Vanderbilt universities, two of the most prestigious seats of learning in the US. The universities invested via a Hong Kong-based hedge fund that saw Hometown as a kind of special purpose acquisition vehicle that would merge with a company seeking a stock market listing, the Financial Times reported last year. In an email that Coker Jr allegedly sent last January, he seemed to envisage a similar strategy. “The ‘announcement of [a reverse merger] deal’ would lead to a ‘massive’ increase in the trading volume of [Hometown],” prosecutors wrote, summarising the contents of the email. The surge in trading would allow the co-conspirators “to more easily dump their shares into the market”, the prosecutors added. “Such manipulative schemes diminish the trust investors must have in the integrity of the markets, and we will pursue those who engage in such wrongdoing,” said Scott Thompson, associate director of enforcement at the SEC’s Philadelphia regional office, in a statement. Patten is charged with wire fraud and money laundering, which carry a maximum sentence of 20 years. He also faces charges of securities fraud and conspiracy to manipulate securities prices along with the Coker duo. The SEC is separately seeking a court order banning the trio from participating in penny stock offerings. The defendants could not be reached for comment, and it could not be learned whether they had retained lawyers. The school workers who founded the Paulsboro deli left the company last year after “rais[ing] significant concerns with Patten regarding the negative news” surrounding its stock market listing, prosecutors said. Hometown merged with Makamer Holdings, a California-based bioplastics company, in March this year, and ceased operating the deli three months later.