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This is reminiscent of a sub shop making $35K/yr that was publicly traded and valued at around $100MM. Turned out to be a Chinese shell company. [0]

[0]: https://www.cnbc.com/2021/04/15/theres-a-single-new-jersey-d...



This is even crazier though. That was an OTC stock. This is traded on the NASDAQ and has SEC filing obligations.


I remember that story, although the article doesn’t mention any Chinese shell company?


CNBC followup the next day:

https://www.cnbc.com/2021/04/16/lawyer-hometown-internationa...

> In a 2015 letter to Hometown International, SEC staff wrote, “We believe you are a shell company.”




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