SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 31, 2019

HOMETOWN INTERNATIONAL, INC.

(Exact name of Company as specified in its charter)

25 E. Grant Street

Woodstown, NJ, 08098 

(Address of principal executive offices) (Zip Code)

(856) 759-9034

(Registrant's Telephone Number)  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

On December 31, 2019, Hometown International, Inc., a Nevada corporation (the “Company”) received a loan of $175,000 from Peter Coker, Jr. (the “Loan”). To evidence the Loan, the Company issued to Mr. Coker a Promissory Note in the principal amount of $175,000 (the “Promissory Note”). The principal amount of the Promissory Note, plus accrued and unpaid interest at 8% per annum, is due and payable on June 30, 2020. The Company may prepay any amounts due under the Promissory Note without penalty or premium. The proceeds from the Loan will be used to repay certain debts and other obligations of the Company and for working capital and general corporate purposes.

The foregoing summary of the Promissory Note does not purport to be complete and is qualified in its entirety by reference to the Promissory Note, a copy of which is filed as Exhibit 4.1 to this report and incorporated herein by reference.

On December 31, 2019, each of Paul F. Morina and Christine T. Lindenmuth, the principal officers and directors and majority shareholders of the Company, entered into separate Stock Purchase Agreements with Mr. Coker, which provided for the sale by each of them of 1,000,000 shares of common stock of the Company (the “Purchased Shares”) to Mr. Coker. The consideration paid for the Purchased Shares, which represents approximately 38% of the issued and outstanding share capital of the Company, was an aggregate of $3,000. The source of the cash consideration for the Purchased Shares was personal funds of Mr. Coker.

The foregoing summaries of the Stock Purchase Agreements do not purport to be complete and are qualified in its entirety by reference to the Stock Purchase Agreements, copies of which are filed as Exhibits 10.1 and 10.2 to this report and incorporated herein by reference.

(d)   Exhibits

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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