Inscription on the Observer badge?

[Ponomarev]

Hi!
I have a very strange badge.
Looks like an old broken Observer badge but the form and pin not usual.
May be somebody know manufacturer of the same badges?
With attached swastika(I'm sure not new made but selfmade).
Silver contents mark - 925.
And most interesting on the back side - 12 surnames!!!
Some of them I can read:

Schmidt
Pauli
Kocha
Lueber
Govnick(may be wrong)
Ecllo(may be wrong)
Krause
Schultz

I'll be thankfull for any answers and information!
Thank You!

Alex Ponomarev

[stogieman]

uh...

.... I think you have a total fantasy piece. It's Meybauer-styled, but the wreath and details are wrong and look like a cast copy. Pin's wrong too...