Hometown Enterprises Inc history

The company began marketing its products in October of 1972.

American Express Bank in 1992 accused Coker Sr. of fraudulently shifting hundreds of thousands of dollars of assets to prevent collection of the money he owed the bank.

In the summer of 1995, MFJ began an extensive move to its landmark location at 300 Industrial Park Road.

In 1996, MFJ began making some of its own components used in the production of antenna tuners.

Hometown was originally incorporated in New York as Dealerco in March 1997.

Most dealership groups that had previously gone public totaled revenues in the $1 billion range, yet Hometown went forward with its initial public stock offering in July 1998, meeting with a less than enthusiastic response.

The company's optimism, however, was not borne out by reality in 1999, although the acquisition of new dealerships did increase revenues somewhat.

Hometown stock fell below $1, dipping as low as 31 cents in December 2000, and after trading below the $1 threshold for an extended period was eventually de-listed by Nasdaq and moved to the over-the-counter bulletin board.

Hometown also announced that it planned to cut $2 million in overhead expenses for 2001 and, if necessary, would unload under-performing dealerships.

In 2006, he successfully appealed sanctions issued by an SEC administrative law judge in a case where he was accused of manipulating the price of a Nasdaq-listed stock.

SEC records show that an assistant director at the commission emailed Coker Sr. in 2012 with questions about a firm called Troy Inc.

Jaclin is also cc’ed in a May 2014 email from the SEC to Ramon Tejeda, CEO of TablacaleraYsidron, whose address in Chapel Hill, North Carolina, is the same as an address Coker Sr. has used.

Hometown International, which has traded on the over-the-counter market since 2019, catapulted out of obscurity last week after hedge fund manager David Einhorn mentioned its bizarrely high market capitalizaton in a letter to clients.