10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the Quarterly Period Ended: September 30, 2021

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number: 333-207488

HOMETOWN INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Nevada	46-5705488
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

500 W. 5th Street, Suite 800

PMB # 57

Winston Salem, NC 27101 

(Address of principal executive offices) (Zip Code)

+853 6666 8542

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

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

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	N/A	N/A

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company filer, or an emerging growth company filer, See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		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 ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐  No ☒

As of November 15, 2021, the registrant had 7,797,004 shares of its common stock issued and outstanding.

HOMETOWN INTERNATIONAL INC.

QUARTERLY REPORT ON FORM 10-Q

SEPTEMBER 30, 2021

TABLE OF CONTENTS

		PAGE
PART I - FINANCIAL INFORMATION		1
Item 1.	Financial Statements	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	2
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	6
Item 4.	Controls and Procedures	6
PART II - OTHER INFORMATION		7
Item 1.	Legal Proceedings	7
Item 1A.	Risk Factors	7
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	7
Item 3.	Defaults Upon Senior Securities	7
Item 4.	Mine Safety Disclosure	7
Item 5.	Other Information	7
Item 6.	Exhibits	7
SIGNATURES		8

i

PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

The following unaudited interim financial statements of Hometown International, Inc. (referred to herein as the “Company,” “we,” “us” or “our”) are included in this quarterly report on Form 10-Q:

Hometown International, Inc.

Financial Statements for the Three and Nine Months Ended September 30, 2021

Index to the Condensed Consolidated Financial Statements

	Page
Condensed Consolidated Balance Sheets at September 30, 2021 (Unaudited) and December 31, 2020	F-1
Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2021 and 2020 (Unaudited)	F-2
Condensed Consolidated Statement of Stockholders’ Equity (Deficit) for the Three and Nine Months Ended September 30, 2021 and 2020 (Unaudited)	F-3
Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2021 and 2020 (Unaudited)	F-4
Notes to the Condensed Consolidated Financial Statements (Unaudited)	F-5

1

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

Condensed Consolidated Balance Sheets

	September 30, 2021			December 31, 2020
	(Unaudited)
ASSETS
Current Assets
Cash	$	1,222,934		$	1,398,006
Prepaid expenses and other current assets		-			6,594
Inventory		2,648			954
Note receivable - related parties, net		-			150,000
Interest receivable - related parties		-			872
Total Current Assets		1,225,582			1,556,426
Leasehold improvements and equipment, net		32			237
Operating lease asset		9,596			2,914
Total Assets	$	1,235,210		$	1,559,577
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable and accrued expenses	$	6,788		$	2,388
Due to related party		-			3,452
Operating lease liability, current		5,278			2,914
Due to former officers		62,297			61,297
Total Current Liabilities		74,363			70,051
Long Term Liabilities
Operating lease liability, net of current		4,318			-
Total  Liabilities		78,681			70,051
Commitments and Contingencies (See Note 8)		-			-
Stockholders’ Equity
Common stock, $0.0001 par value; 250,000,000 shares authorized, 7,797,004  and 7,797,004 issued and outstanding, respectively		780			780
Additional paid-in capital		2,978,593			2,927,022
Accumulated deficit		(1,822,844	)		(1,438,276	)
Total Stockholders’ Equity		1,156,529			1,489,526
Total Liabilities and Stockholders’ Equity	$	1,235,210		$	1,559,577

See accompanying notes to condensed consolidated unaudited financial statements

F-1

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

Condensed Consolidated Statements of Operations

(Unaudited)

	For the Three Months Ended			For the Three Months Ended			For the Nine Months Ended			For the Nine Months Ended
	September 30, 2021			September 30, 2020			September 30, 2021			September 30, 2020
Sales	$	2,387		$	1,894		$	13,980		$	5,471
Costs and Expenses
Food, beverage and supplies		4,118			1,039			14,149			3,903
Labor		1,080			-			1,499			-
Direct operating and occupancy		3,037			1,485			6,177			5,720
Depreciation		54			1,805			205			5,428
Consulting  - related parties		-			120,000			160,000			200,000
Consulting		22,500			-			30,000			-
Professional fees		33,198			18,158			96,031			146,233
General and administrative		42,746			37,385			95,390			75,971
Total cost and expenses		106,733			179,872			403,451			437,255
Loss from Operations		(104,346	)		(177,978	)		(389,471	)		(431,784	)
Other Income (Expenses)
Other Income		-			1,000			-			1,000
Interest Income - related parties		32			69			4,903			260
Interest Expense		-			-			-			(9,091	)
Total Other Income (Expenses)		32			1,069			4,903			(7,831	)
LOSS FROM OPERATIONS BEFORE INCOME TAXES		(104,314	)		(176,909	)		(384,568	)		(439,615	)
Provision for Income Taxes		-			-			-			-
NET LOSS	$	(104,314	)	$	(176,909	)	$	(384,568	)	$	(439,615	)
Net Loss Per Share  - Basic and Diluted	$	(0.01	)	$	(0.02	)	$	(0.05	)	$	(0.06	)
Weighted average number of shares outstanding during the period - Basic and Diluted		7,797,004			7,797,004			7,797,004			6,841,567

See accompanying notes to condensed consolidated unaudited financial statements 

F-2

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

Condensed Consolidated Statement of Stockholders’ Equity (Deficit)

For the three and nine months ended September 30, 2021 and 2020

(Unaudited)

					Additional					Total
	Common stock				paid-in		Accumulated			Stockholders’
	Shares		Amount		capital		Deficit			Equity
Balance, June 30, 2021 (Unaudited)		7,797,004	$	780	$	2,950,593	$	(1,718,530	)	$	1,232,843
In kind contribution of services		-		-		28,000		-			28,000
Net loss for the three months ended September  30, 2021		-		-		-		(104,314	)		(104,314	)
Balance, September 30, 2021 (Unaudited)		7,797,004	$	780	$	2,978,593	$	(1,822,844	)	$	1,156,529
Balance, December 31, 2020		7,797,004	$	780	$	2,927,022	$	(1,438,276	)	$	1,489,526
In kind contribution of services		-		-		51,571		-			51,571
Net loss for the nine months ended September 30, 2021		-		-		-		(384,568	)		(384,568	)
Balance, September 30, 2021 (Unaudited)		7,797,004	$	780	$	2,978,593	$	(1,822,844	)	$	1,156,529

	Common stock					Treasury			Additional paid-in		Accumulated			Total Stockholders’ Equity
	Shares			Amount		Shares			capital		Deficit			(Deficit)
Balance, December 31, 2019		5,235,340		$	523	$	-		$	334,759	$	(806,920	)	$	(471,638	)
Conversion of note payable - related party to common shares ($1.00/share)		100,000			10		-			99,990		-			100,000
Repurchase of common shares ($1.00/share)		(38,336	)		-		(38,336	)		-		-			(38,336	)
Common stock issued for cash ($1.00/share)		2,500,000			250		-			2,499,750		-			2,500,000
In kind contribution of services		-			-		-			23,142		-			23,142
Net loss for the nine months ended September 30, 2020		-			-		-			-		(439,615	)		(439,615	)
Balance, September 30, 2020 (Unaudited)		7,797,004		$	783	$	(38,336	)	$	2,957,641	$	(1,246,535	)	$	1,673,553
Balance, June 30, 2020 (Unaudited)		7,797,004		$	783	$	(38,336	)	$	2,949,927	$	(1,069,626	)	$	1,842,748
In kind contribution of services		-			-		-			7,714		-			7,714
Net loss for the three months ended September 30, 2020		-			-		-			-		(176,909	)		(176,909	)
Balance, September 30, 2020 (Unaudited)		7,797,004		$	783	$	(38,336	)	$	2,957,641	$	(1,246,535	)	$	1,673,553

See accompanying notes to condensed consolidated unaudited financial statements 

F-3

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	For the Nine Months Ended			For the Nine Months Ended
	September 30, 2021			September 30, 2020
Cash Flows From Operating Activities:
Net Loss	$	(384,568	)	$	(439,615	)
Adjustments to reconcile net loss to net cash used in operations
In-kind contribution of services		51,571			23,142
Depreciation expense		205			5,428
Amortization of operating lease assets		3,887			4,006
Changes in operating assets and liabilities:
Decrease in prepaid expenses and other current assets		6,594			-
(Increase) in inventory		(1,694	)		(109	)
Decrease in interest receivable - related parties		872			-
Increase in accounts payable and accrued expenses		4,400			(54,227	)
Decrease in operating lease liability		(3,887	)		(4,006	)
Net Cash Used In Operating Activities		(322,620	)		(465,381	)
Cash Flows From Investing Activities:
Note receivable - related parties		(150,000	)		-
Repayment of note receivable - related parties		300,000			-
Net Cash Provided By Investing Activities		150,000			-
Cash Flows From Financing Activities:
Proceeds from common stock issuance for cash		-			2,500,000
Proceeds from/due to former officers		1,000			8,090
Proceeds from/due to related party		4,993			-
Repayment of due to related party		(8,445	)		-
Repayment of note payable - related party		-			(332,104	)
Proceeds from note payable - related party		-			70,000
Purchase of treasury stock		-			(38,336	)
Net Cash Provided by (Used in) Financing Activities		(2,452	)		2,207,650
Net (Decrease) Increase in Cash		(175,072	)		1,742,269
Cash at Beginning of Period		1,398,006			5,382
Cash at End of Period	$	1,222,934		$	1,747,651
Supplemental disclosure of cash flow information:
Cash paid for interest	$	-		$	9,091
Cash paid for taxes	$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Operating lease asset obtained for operating lease liability upon remeasurement	$	10,569		$	-
Note payable - related party, converted into 100,000 shares of common stock	$	-		$	100,000

See accompanying notes to condensed consolidated unaudited financial statements 

F-4

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

(A) Organization and Basis of Presentation

The accompanying condensed consolidated unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all the information necessary for a comprehensive presentation of financial position and results of operations.

These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 26, 2021.

It is management’s opinion that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year.

Hometown International, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on May 19, 2014. Through its wholly owned subsidiary, Your Hometown Deli, LLC, the Company is the originator of a new “Delicatessen” concept (“Your Hometown Deli”). The Company intends that its delicatessens will feature “home-style” sandwiches and other entrees in a casual friendly atmosphere, designed to be comfortable community gathering places for guests of all ages. Targeted towards smaller towns and communities, the Company’s first and only store is located in Paulsboro, New Jersey.

On January 18, 2014, Your Hometown Deli, LLC was formed under the laws of the State of New Jersey. On May 29, 2014, Your Hometown Deli, LLC, entered into a Membership Interest Purchase Agreement with Hometown International, Inc. For accounting purposes, this transaction is being accounted for as a merger of entities under common control and has been treated as a recapitalization of Hometown International, Inc. with Your Hometown Deli, LLC, as the accounting acquirer. The historical financial statements of the accounting acquirer became the financial statements of the registrant. The Company did not recognize goodwill or any intangible assets in connection with the transaction. The 5,000,000 shares issued to the shareholder of Your Hometown Deli, LLC, in conjunction with the share exchange transaction has been presented as outstanding for all periods.

On May 12, 2021, shareholder’s holding  77% of the Company’s voting power removed Paul Morina and Christine Lindenmuth as members of the Company’s board of directors, by written consent. On May  13, 2021, the Company’s board of directors, removed Paul Morina from all officer positions he held with the Company, including Chief Executive Officer, Chief Financial Officer and Treasurer, and removed Christine Lindenmuth from all officer positions she held with the Company, including Vice President and Secretary. In connection with Mr. Morina’s removal, he was removed from his roles as the Company’s “Principal Executive Officer” and “Principal Financial and Accounting Officer” for Securities and Exchange Commission (“SEC”) reporting purposes. Effective immediately upon the removals of Mr. Morina and Ms. Lindenmuth, Peter Coker Jr., the Company’s Chairman of the Company’s board of directors, was appointed as the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary and Treasurer. In connection with his appointments, Mr. Coker was designated as the “Principal Executive Officer” and “Principal Financial and Accounting Officer” of the Company for SEC reporting purposes. Mr. Morina and Ms. Lindenmuth remain principals of the Company’s operating subsidiary, Your Hometown Deli, LLC, and the Company’s delicatessen in Paulsboro, New Jersey remains open. The Company continues to seek and investigate and, if such investigation warrants, will engage in, a business combination with a private entity whose business presents an opportunity for its shareholders

F-5

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

The Company was forced to temporarily close the delicatessen due to the stay-at-home order issued by the Governor of New Jersey on March 9, 2020, resulting from the outbreak of COVID-19. The delicatessen was re-opened on September 8, 2020, with a “soft opening” to a limited audience, prior to its “Grand Re-Opening” to the public on September 22, 2020. The temporary closure and other effects of COVID-19 had a material impact on the Company’s business during 2020. It is anticipated that the COVID-19 pandemic will continue to impact the Company’s business in 2021.

Going forward, the Company intends to seek, investigate and, if such investigation warrants, engage in a business combination with a private entity whose business presents an opportunity for our shareholders. The Company has no particular business combination in mind and has not entered into any negotiations regarding such a combination.

The Company’s accounting year end is December 31, which is the year end of Your Hometown Deli, LLC.

(B) Principles of Consolidation

The accompanying September 30, 2021 and 2020 unaudited condensed consolidated financial statements include the accounts of Hometown International, Inc. and its wholly owned subsidiary, Your Hometown Deli, LLC. All intercompany accounts have been eliminated upon consolidation.

(C) Use of Estimates

In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Significant estimates include valuation of in-kind contribution of service, valuation of deferred tax assets and operating lease assets and liabilities. Actual results could differ from those estimates.

(D) Cash and Cash Equivalents

The Company considers all highly liquid temporary cash investments with an original maturity of 90 days or less to be cash equivalents. At September 30, 2021 and December 31, 2020, the Company had no cash equivalents.

(E) Loss Per Share

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB ASC No. 260, “Earnings Per Share.” Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period”. For September 30, 2021 and 2020, warrants were not included in the computation of income/ (loss) per share because their inclusion is anti-dilutive.

The computation of basic and diluted loss per share for September 30, 2021 and September 30, 2020 excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:

	September 30, 2021		September 30, 2020
	(Unaudited)		(Unaudited)
Class A Warrants (Exercise price - $1.25/share)		38,985,020		38,985,020
Class B Warrants (Exercise price - $1.50/share)		38,985,020		38,985,020
Class C Warrants (Exercise price - $1.75/share)		38,985,020		38,985,020
Class D Warrants (Exercise price - $2.00/share)		38,985,020		38,985,020
Total		155,940,080		155,940,080

F-6

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

(F) Income Taxes

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

(G) Property and Equipment

Property and equipment is recorded at cost and depreciated or amortized using the straight-line method over the estimated useful life of the asset or the underlying lease term for leasehold improvements, whichever is shorter onset the property and equipment is put into service.

(H) Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”. The standard states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

The Company generates revenue operating a delicatessen. Revenues from the operations of Company-owned delicatessen are recognized when sales occur.

(I) Fair Value of Financial Instruments

The Company measures its financial assets and liabilities in accordance with GAAP. For certain of our financial instruments, including cash, accounts payable, and the short-term portion of long-term debt, the carrying amounts approximate fair value due to their short maturities.

We adopted accounting guidance for financial and non-financial assets and liabilities (ASC 820). The adoption did not have a material impact on our results of operations, financial position or liquidity. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

● Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

● Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

● Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.

F-7

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

(J) Concentrations

The Company maintains various bank accounts at one bank, which, at times, may have balances that exceed federally insured limits. The Company believes it is not exposed to any significant credit risk on its cash balances and has not experienced any losses in such accounts. At September 30, 2021 and December 31, 2020, the Company had cash balances in excess of FDIC limits of $970,393 and $1,147,290, respectively.  

(K) Recent Accounting Pronouncements

All newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable.

(L) Business Segments

The Company operates in one segment and therefore segment information is not presented.

(M) Inventories

Inventories consist of food and beverages, and are stated at cost. 

(N) Advertising

Advertising costs are expensed as incurred. These costs are included in direct operating & occupancy expenses and totaled $1,956 and $96 for the nine months ended September 30, 2021 and 2020, respectively.

Advertising costs are expensed as incurred. These costs are included in direct operating & occupancy expenses and totaled $1,080 and $96 for the three months ended September 30, 2021 and 2020, respectively.

NOTE 2 LEASEHOLD IMPROVEMENT AND EQUIPMENT

Leasehold improvement and equipment consist of the following at September 30, 2021 and December 31, 2020:

	September 30,			December 31,
	2021			2020
	(Unaudited)
Leasehold Improvements		33,455			33,455
Equipment		3,120			3,120
Leasehold Improvements and Equipment		36,575			36,575
Less: Accumulated Depreciation		(36,543	)		(36,338	)
Leasehold Improvements and Equipment, Net	$	32		$	237

Depreciation expense was $54 and $1,805 for the three months ended September 30, 2021 and 2020, respectively.

Depreciation expense was $205 and $5,428 for the nine months ended September 30, 2021 and 2020, respectively.

NOTE 3 NOTES RECEIVABLE – RELATED PARTIES

On February 12, 2021, the Company received an unsecured promissory note from Med Spa Vacations, Inc., a related party, in exchange for $150,000. Pursuant to the terms of the note, the note is bearing interest at the rate of 6%, unsecured, and due on or before February 11, 2022. As of May 12, 2021, the Company has an interest receivable balance of $2,250. On May 12, 2021, the full principal of the note receivable and $2,250 of related accrued interest receivable were fully paid by the noteholder (See Note 9).

On November 25, 2020, the Company received an unsecured promissory note from E-Waste Corp., a related party, in exchange for $150,000. Pursuant to the terms of the note, the note is bearing interest at the rate of 6%, unsecured, and due on or before November 25, 2021. On March 1, 2021, the Company collected $2,250 of interest receivable. As of April 14, 2021, the Company has an interest receivable balance of $1,184. On April 14, 2021, the full principal of the note receivable and $1,184 of related accrued interest receivable were fully paid by the noteholder (See Note 9).

F-8

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

NOTE 4 NOTE PAYABLE – RELATED PARTY

On March 18, 2020, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $50,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured, and due on March 31, 2021. As of April 24, 2020, the Company accrued $406 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On February 13, 2020, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $20,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on February 13, 2021. As of April 24, 2020, the Company accrued $315 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On December 31, 2019, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $10,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on December 31, 2020. As of April 24, 2020, the Company accrued $255 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On December 31, 2019, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $175,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on September 30, 2020. As of April 24, 2020, the Company accrued $4,462 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On December 31, 2019, the Company and a related party note holder agreed to combine the principal and accrued interest of multiple notes, and issued a new unsecured promissory note in the amount of $144,979. The note is bearing 8% interest, unsecured and due on December 31, 2020.

On March 18, 2020, the Company, entered into a Debt Exchange Agreement with a related party pursuant to which $100,000 of the principal amount of debt owed by the Company was converted to 100,000 shares of the Company’s common stock. The remaining principal balance owed to such party in the amount of $44,979, plus any accrued and unpaid interest, is due and payable on December 31, 2020. As of April 24, 2020, the Company accrued $2,885 in interest expense. On April 24, 2020, the remaining note principal and accrued interest were repaid in full (See Notes 7 (E) and 9).

On December 31, 2019, the Company and Peter L. Coker, Jr., the Company’s Chairman of the Board, agreed to combine the principal and accrued interest of a note and issued a new unsecured promissory note in the amount of $30,126. The note is bearing 8% interest, unsecured and due on December 31, 2020. As of April 24, 2020, the Company accrued $768 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On October 16, 2014, the Company entered into an unsecured promissory note with a related party in the amount of $2,000. Pursuant to the terms of the note, the note is non-interest bearing, unsecured and is due on demand. On January 25, 2020, the note principal was repaid in full (See Note 9).

NOTE 5 DUE TO FORMER OFFICERS

During the nine months ended September 30, 2021, certain former officers paid a net aggregate $1,000 in expenses on the Company’s behalf as an advance. Pursuant to the terms of the note, the note is non-interest bearing, unsecured and due on demand. As of September 30, 2021, the balance due to former officers was $62,297 (See Note 9).

NOTE 6 DUE TO RELATED PARTY

As of March 31, 2021, the Company owed to its Chairman $4,993 for corporate expense reimbursement. The amount was repaid on April 12, 2021 (See Note 9).

As of December 31, 2020, the Company owed to its Chairman $3,452 for corporate expense reimbursements. The amount was repaid on January 20, 2021 (See Note 9).

F-9

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

NOTE 7 STOCKHOLDERS’ EQUITY

(A) Increase in Authorized Shares

On March 23, 2020, the Company filed a Certificate of Amendment to the Company’s Articles of Incorporation with the Secretary of State of the State of Nevada, increasing the number of shares of common stock the Company is authorized to issue from 100,000,000 to 250,000,000, with a par value of $0.0001 per share.

(B) In-kind Contribution of Services

For the three months ended September 30, 2021 and 2020, the Company recorded $0 and $7,714, respectively, as in-kind contribution of services provided by the former President and former Vice President of the Company (See Note 9).

For the nine months ended September 30, 2021 and 2020, the Company recorded $11,571 and $23,142, respectively, as in-kind contribution of services provided by the former President and former Vice President of the Company (See Note 9).

For the three months ended September 30, 2021 and 2020, the Company recorded $28,000 and $0, respectively, as in-kind contribution of services provided by the current President of the Company (See Note 9).

For the nine months ended September 30, 2021 and 2020, the Company recorded $40,000 and $0, respectively, as in-kind contribution of services provided by the current President of the Company (See Note 9).

(C) Common Stock Repurchase

On March 18, 2020, the Company repurchased an aggregate of 38,336 shares of the Company’s common stock from a total of 11 shareholders, at a purchase price of $1.00 per share.

(D) Warrant Issuance

On March 18, 2020, the Board of Directors of the Company authorized the issuance of warrants to the shareholders of record as of the issuance date. As of such date, the Company was to issue each shareholder of record (i) five Class A Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.25 per share, (ii) five Class B Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.50 per share, (iii) five Class C Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.75 per share and (iv) five Class D Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $2.00 per share, with each warrant expiring on March 31, 2035. On March 31, 2020, the record date for the issuance of the warrants as extended to April 15, 2020.

On April 15, 2020, the Company issued twenty warrants for every one share of common stock held to shareholders of record as of April 15, 2020. The warrants were issued to the shareholders of record on a pro-rata basis on the issuance date. There was no consideration in exchange for the issuance of these warrants and, therefore, these warrants are treated as a shareholder’s distribution with a net effect of zero on the stockholder’s equity.

The Company issued the following warrants:

● 38,985,020 Class A Warrants

● 38,985,020 Class B Warrants

● 38,985,020 Class C Warrants

● 38,985,020 Class D Warrants 

F-10

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

As of the date of this report, no warrants have been exercised.

	Number of Warrants		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)
Balance, December 31, 2020		155,940,080		1.625		14.25
Granted		-		-		-
Exercised		-		-		-
Cancelled/Forfeited		-		-		-
Balance, September 30, 2021 (Unaudited)		155,940,080	$	1.625		13.51
Intrinsic Value	$	1,890,773,470		-		-

For the nine months ended September 30, 2021, the following warrants were outstanding:

Exercise Price Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
$	1.25		38,985,020		13.51	$	487,312,750
$	1.50		38,985,020		13.51	$	477,566,495
$	1.75		38,985,020		13.51	$	467,820,240
$	2.00		38,985,020		13.51	$	458,073,985

For the year ended December 31, 2020, the following warrants were outstanding:

Exercise Price Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
$	1.25		38,985,020		14.25	$	467,820,240
$	1.50		38,985,020		14.25	$	458,073,985
$	1.75		38,985,020		14.25	$	448,327,730
$	2.00		38,985,020		14.25	$	438,581,475

(E) Common Stock Issued on Debt Conversion

On March 18, 2020, the Company entered into a Debt Exchange Agreement with a related party pursuant to which $100,000 of the principal amount of debt owed by the Company was converted to 100,000 shares of the Company’s common stock (See Notes 4 and 9).

(F) Common Stock Issued for Cash

In April 2020, the Company sold 663,750 shares of common stock to an unrelated party for $663,750 in cash. The funds were received by the Company on April 14, 2020.

In April 2020, the Company sold 1,380,000 shares of common stock to an unrelated party for $1,380,000 in cash. The funds were received by the Company on April 15, 2020.

In April 2020, the Company sold 456,250 shares of common stock to an unrelated party for $456,250 in cash. The funds were received by the Company on April 14, 2020.

F-11

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

NOTE 8 COMMITMENTS AND CONTINGENCIES

Consulting Agreements

Effective as of April 26, 2021, the Company also entered into a Consulting Agreement with Benchmark Capital, LLC Limited, a company formed under the laws of New Jersey (“Benchmark”). Pursuant to this agreement, Benchmark was engaged as a consultant to the Company, to assist with all filings requirements with the SEC. The term of the agreement is month-to-month; 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, Benchmark shall receive $7,500 per month, during the term of the agreement, starting on June 1, 2021, in addition to reimbursement of expenses approved in advance by the Company.

Effective as of May 1, 2020, the Company entered into a Consulting Agreement with Tryon Capital Ventures LLC, a North Carolina limited liability company (“Tryon”), which is 50% owned by the father of Peter L. Coker, Jr., our Chairman of the Board. Pursuant to this agreement, Tryon was engaged as a consultant to the Company, to, among other things, support in the research, development, and analysis of product, financial and strategic matters. The term of the Tryon Consulting Agreement was one year; provided, however, that each party had the right to terminate the agreement upon 30 days’ prior written notice to the other. Pursuant to the agreement, Tryon was to receive $15,000 per month during the term of the agreement, in addition to reimbursement of expenses approved in advance by the Company. On April 26, 2021, the Company terminated the consulting agreement with Tryon (See Note 9). 

Effective as of May 1, 2020, the Company 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 the Company’s 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. Upon expiration, the agreement was not renewed. (See Note 9). 

Operating Lease Agreement

On July 1, 2014, the Company entered into a five-year non-cancelable operating lease with a related party for its store space at a monthly rate of $500. On September 21, 2015, the Company executed the lease and opened the delicatessen on October 14, 2015. On December 29, 2015, the Company signed an addendum to the lease for the lease agreement to start 30 days after the opening of the delicatessen. The delicatessen opened on October 14, 2015, and the first payments would have been due on November 15, 2015, however, since the delicatessen was not fully functioning, the first monthly rent payment was due January 1, 2016. On August 12, 2019, the Company was granted a two-year extension of non-cancelable operating lease with a related party for its store space at a monthly rate of $500. On March 22, 2021, the Company was granted an additional two-year extension of non-cancelable operating lease with a related party for its store space at a monthly rate of $500 (See Note 9). The Company accounts for lease in accordance with ASC Topic 842, “Leases”. For the nine months ended September 30, 2021 and 2020, the Company had a rent expense of $4,500 and $4,500, respectively.

Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The operating lease right-of-use (ROU) asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred, if any. In calculating the present value of the revised lease payments, the Company elected to utilize its incremental borrowing rate based on the revised lease terms as of the March 22, 2021, re-measurement date. This rate was determined to be 10%, and the Company determined the initial present value, at inception, of $10,569.

The lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the balance sheet as operating lease assets, current operating lease liabilities and non-current operating lease liabilities.

F-12

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

Supplemental consolidated balance sheet information related to leases was as follows:

Operating Leases
	September 30, 2021 (Unaudited)
Operating lease assets - right of use	$	9,596
Lease liability is summarized below:
Lease Liability	$	9,596
Less: operating lease liability, current		(5,278	)
Long term operating lease liability	$	4,318
Maturities of lease liabilities at September 30, 2021 are as follows:
2021	$	1,500
2022		6,000
2023		3,000
Total lease liability		10,500
Less: present value discount		(904	)
Total lease liability	$	9,596

Supplemental disclosures of cash flow information related to leases were as follows:

	For the nine months ended September 30, 2021		For the nine months ended September 30, 2020
	(Unaudited)		(Unaudited)
Cash paid for operating lease liabilities	$	4,500	$	4,500

	For the nine months ended September 30, 2021		For the nine months ended September 30, 2020
	(Unaudited)		(Unaudited)
Operating lease asset obtained for operating lease liability upon remeasurement	$	10,569	$	-

For the three months ended September 30, 2021 and 2020, the total lease costs were $1,500 and $1,500, respectively. The Company did not incur any variable lease cost for both periods.

For the nine months ended September 30, 2021 and 2020, the total lease costs were $4,500 and $4,500, respectively. The Company did not incur any variable lease cost for both periods.

NOTE 9 RELATED PARTY TRANSACTIONS

On July 1, 2014, the Company entered into a five-year non-cancelable operating lease with a related party for its store space at a monthly rate of $500. On September 21, 2015, the Company executed the lease and opened the delicatessen on October 14, 2015. On December 29, 2015, the Company signed an addendum to the lease for the lease agreement to start 30 days after the opening of the delicatessen. The delicatessen opened on October 14, 2015, and the first payment would have been due on November 15, 2015, however, since the delicatessen was not fully functioning, the first monthly rent payment was due January 1, 2016. On August 12, 2019, the Company was granted a two-year extension of non-cancelable operating lease with a former related party for its store space at a monthly rate of $500. On March 22, 2021, the Company was granted an additional two-year extension of non-cancelable operating lease with a former related party for its store space at a monthly rate of $500. For the nine months ended September 30, 2021 and 2020, the Company had a rent expense of $4,500 and $4,500, respectively (See Note 8). 

F-13

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

On October 16, 2014, the Company entered into an unsecured promissory note with a former related party in the amount of $2,000. Pursuant to the terms of the note, the note is non-interest bearing, unsecured and due on demand. On January 25, 2020, the note principal was repaid in full (See Note 4).

For the three months ended September 30, 2021 and 2020, the Company recorded $0 and $7,714, respectively, as in-kind contribution of services provided by the former President and former Vice President of the Company (See Note 7 (B)).

For the nine months ended September 30, 2021 and 2020, the Company recorded $11,571 and $23,142, respectively, as in-kind contribution of services provided by the former President and former Vice President of the Company (See Note 7 (B)).

For the three months ended September 30, 2021 and 2020, the Company recorded $28,000 and $0, respectively, as in-kind contribution of services provided by the current President of the Company (See Note 7 (B)).

For the nine months ended September 30, 2021 and 2020, the Company recorded $40,000 and $0, respectively, as in-kind contribution of services provided by the current President of the Company (See Note 7 (B)).

During the nine months ended September 30, 2021, certain former officers paid a net aggregate $1,000 in expenses on Company’s behalf as an advance. Pursuant to the terms of the note, the note was non-interest bearing, unsecured and due on demand. As of September 30, 2021, the balance due to former officers was $62,297 (See Note 5).

As of March 31, 2021, the Company owed to its Chairman $4,993 for corporate expense reimbursement. The amount was repaid on April 12, 2021 (See Notes 6 and 11).

As of December 31, 2020, the Company owed to its Chairman $3,452 for corporate expense reimbursements. The amount was repaid on January 20, 2021 (See Note 6).

On December 31, 2019, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $10,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on December 31, 2020. As of April 24, 2020, the Company accrued $255 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4)

On December 31, 2019, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $175,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on September 30, 2020. As of April 24, 2020, the Company accrued $4,462 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4).

On December 31, 2019, the Company and a related party note holder agreed to combine the principal and accrued interest of multiple notes, and issued a new unsecured promissory note in the amount of $144,979. The note is bearing 8% interest, unsecured and due on December 31, 2020. On March 18, 2020, the Company entered into a Debt Exchange Agreement with a related party pursuant to which $100,000 of the principal amount of debt owed by the Company was converted to 100,000 shares of the Company’s common stock (See Note 7 (E)). The remaining principal balance owed to such party in the amount of $44,979, plus any accrued and unpaid interest, is due and payable on December 31, 2020. As of April 24, 2020, the Company accrued $2,885 in interest expense. On April 24, 2020, the remaining note principal and accrued interest were repaid in full (See Note 4).

On December 31, 2019, the Company and Peter L. Coker, Jr., the Company’s Chairman of the Board, agreed to combine the principal and accrued interest of a note and issued a new unsecured promissory note in the amount of $30,126. The note is bearing 8% interest, unsecured and due on December 31, 2020. As of April 24, 2020, the Company accrued $768 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4).

F-14

HOMETOWN INTERNATIONAL, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

(UNAUDITED)

On March 18, 2020, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., its Chairman, in the amount of $50,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured, and due on March 31, 2021. As of April 24, 2020, the Company accrued $406 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4).

On February 13, 2020, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., its Chairman, in the amount of $20,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on February 13, 2021. As of April 24, 2020, the Company accrued $315 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4). 

Effective as of May 1, 2020, the Company entered into a Consulting Agreement with Tryon Capital Ventures LLC, a North Carolina limited liability company (“Tryon”), which is 50% owned by the father of Peter L. Coker, Jr., the Company’s Chairman of the Board. Pursuant to this agreement, Tryon was engaged as a consultant to the Company, to, among other things, support in the research, development, and analysis of product, financial and strategic matters. The term of the Tryon Consulting Agreement was one year; provided, however, that each party had the right to terminate the agreement upon 30 days’ prior written notice to the other. Pursuant to the agreement, Tryon was to receive $15,000 per month during the term of the agreement, in addition to reimbursement of expenses approved in advance by the Company. On April 26, 2021, the Company terminated the consulting agreement with Tryon (See Notes 8 and 11). 

Effective as of May 1, 2020, the Company 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 the Company’s 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. Upon expiration, the agreement was not renewed (See Notes 8 and 11). 

On November 25, 2020, the Company received an unsecured promissory note from E-Waste Corp., a related party, in exchange for $150,000. Pursuant to the terms of the note, the note is bearing interest at the rate of 6%, unsecured, and due on or before November 25, 2021. On March 1, 2021, the Company collected $2,250 of interest receivable. As of April 14, 2021, the Company has interest receivable balance of $1,184. On April 14, 2021, the full principal of the note receivable and $1,184 of related accrued interest receivable were fully paid by the noteholder (See Note 3).

On February 12, 2021, the Company received an unsecured promissory note from Med Spa Vacations, Inc., a related party, in exchange for $150,000. Pursuant to the terms of the note, the note is bearing interest at the rate of 6%, unsecured, and due on or before February 11, 2022. As of May 12, 2021, the Company has interest receivable balance of $2,250 of interest receivable (See Note 3). On May 12, 2021, full principal of the note receivable and $2,250 of related accrued interest receivable were fully paid by the noteholder (See Note 3)

NOTE 10 LIQUIDITY

As reflected in the accompanying condensed consolidated unaudited financial statements, the Company used cash in operations of $322,620, has an accumulated deficit of $1,822,844, and has a net loss of $384,568 for the nine months ended September 30, 2021.

On March 23, 2020, the Company temporarily closed the delicatessen due to the stay-at-home order issued by the Governor of New Jersey. Although the Stay at Home at Home Order was lifted, on October 24, 2020, the Governor signed Executive Order No. 191 extending the Public Health Emergency for another 30 days. The deli was re-opened on September 8, 2020, with a “soft opening” to a limited audience, prior to its “Grand Re-Opening” to the public on September 22, 2020. It is anticipated that the COVID-19 pandemic will continue to impact our business in 2021.

The Company is slowly regaining its customer base since reopening. Even though the delicatessen has been re-opened, the Company may have a slowdown in customer’s visit due to the current economic condition. There can be no assurance that the Company will generate sufficient revenues to continue its operations. The Company expects the growth rate and sales to be volatile in the near term.

As of September 30, 2021, the Company had $1,222,934 of cash on hand. The Company estimates its cash burn rate of approximately $20,000 per month. Management believes that the current working capital are sufficient to sustain its current operations for the next 12 months. Management believes that the actions taken in respect of the COVID-19 pandemic and current working capital are sufficient to sustain its current operations at its current spending levels for the next 12 months. However, the Company is unable to estimate the ultimate impact of the COVID-19 pandemic on its financial condition and future results of operations.

F-15

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The information set forth in this Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including, among others (i) expected changes in our revenue and profitability, (ii) prospective business opportunities and (iii) our strategy for financing our business. Forward-looking statements are statements other than historical information or statements of current condition. Some forward-looking statements may be identified by use of terms such as “believes”, “anticipates”, “intends” or “expects”. These forward-looking statements relate to our plans, liquidity, ability to complete financing and purchase capital expenditures, growth of our business including entering into future agreements with companies, and plans to successfully develop and obtain approval to market our product. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.

Although we believe that our expectations with respect to the forward-looking statements are based upon reasonable assumptions within the bounds of our knowledge of our business and operations, in light of the risks and uncertainties inherent in all future projections, the inclusion of forward-looking statements in this Quarterly Report should not be regarded as a representation by us or any other person that our objectives or plans will be achieved.

We assume no obligation to update these forward-looking statements to reflect actual results or changes in factors or assumptions affecting forward-looking statements.

Our revenues and results of operations could differ materially from those projected in the forward-looking statements as a result of numerous factors, including, but not limited to, the following: the risk of significant natural disaster, the inability of our company to insure against certain risks, inflationary and deflationary conditions and cycles, currency exchange rates, and changing government regulations domestically and internationally affecting our products and businesses.

You should read the following discussion and analysis in conjunction with the Financial Statements and Notes attached hereto, and the other financial data appearing elsewhere in this Quarterly Report.

US Dollars are denoted herein by “USD”, “$” and “dollars”.

Overview and Recent Developments

Hometown International, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on May 19, 2014. The Company is the originator of a new Delicatessen concept. Through our wholly-owned subsidiary, Your Hometown Deli Limited Liability Company (“Your Hometown Deli”), we operate a delicatessen store that features “home-style” sandwiches and other entrees in a casual and friendly atmosphere. The store is designed to offer local patrons of all ages with a comfortable community gathering place. Targeted towards smaller towns and communities, the Company’s first and only store is located in Paulsboro, New Jersey.

We were forced to temporarily close the delicatessen due to the stay-at-home order issued by the Governor of New Jersey on March 9, 2020, resulting from the outbreak of COVID-19. The delicatessen was re-opened on September 8, 2020, with a “soft opening” to a limited audience, prior to its “Grand Re-Opening” to the public on September 22, 2020. The temporarily closure and other effects of COVID-19 had a material impact on our business during 2020. It is anticipated that the COVID-19 pandemic will continue to impact our business in 2021.

The delicatessen was temporarily closed, beginning on August 1, 2021, while we changed management of Your Hometown Deli and hired a new operations manager for the store in Paulsboro, New Jersey. The delicatessen reopened on September 11, 2021, with increased staff and expanded hours.

2

Going forward, we intend to seek, investigate and, if such investigation warrants, engage in a business combination with a private entity whose business presents an opportunity for our shareholders. Our objectives discussed below are extremely general and are not intended to restrict discretion of our board of directors to search for and enter into potential business opportunities or to reject any such opportunities. We have no particular business combination in mind and have not entered into any negotiations regarding such a combination. Neither our officers nor any of our affiliates has engaged in any negotiations with any representative of any company regarding the possibility of an acquisition or combination between our company and such other company. We have not yet entered into any agreement, nor do we have any commitment or understanding to enter into or become engaged in a transaction.

We will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business. Further, we may acquire or combine with a venture that is in its preliminary or early stages of development, one that is already in operation or one that is in a more mature stage of its corporate existence. Accordingly, business opportunities may be available in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities difficult and complex.

The analysis of new business opportunities will be undertaken by or under the supervision of our executive officers and directors, none of whom is a business analyst. Therefore, it is anticipated that outside consultants or advisors may be utilized to assist us in the search for and analysis of qualified target companies.

Results of Operations

Three Months Ended September 30, 2021 Compared to Three Months Ended September 30, 2020

We generated revenue of $2,387 and $1,894 for the three months ended September 30, 2021 and 2020, respectively. The increase in revenue is mainly attributed to an increase in customer’s visits following the re-opening of our delicatessen as a result of the easing of restrictions related to the COVID-19 pandemic.

Our total cost and expenses were $106,733 for the three months ended September 30, 2021, compared to $179,872 for the three months ended September 30, 2020. The total cost and expenses decreased by approximately 41% primarily attributable to a decrease of $120,000 in consulting fees paid to related parties during the three months ended September 30, 2020, offset by an increase of $22,500 in consulting fees paid during the three months ended September 30, 2021, an increase of $15,040 in professional fees attributable to fees paid for filings with the Securities and Exchange Commission, an increase in food costs of $3,079, an increase in labor costs of $1,080, and an increase of $5,361 in general and administrative expenses. The increase in general and administrative fees was attributable to fees required in connection with filings with the SEC and an increase in general business expenses.

We incurred a loss from operations of $104,346 and $177,978 for the nine months ended September 30, 2021 and 2020, respectively. The decrease in loss from operations is mainly attributable to a decrease in total costs and expenses, slightly offset by our increase in revenue during the three months ended September 30, 2021, as compared to the same period ended September 30, 2020.

Other income for the three months ended September 30, 2020 was $1,000 resulting from the New Jersey Economic Development Authority grant received from the NJEDA Small Business Emergency Assistance Phase 2 Grant assistance program in light of the impact of the coronavirus pandemic.

Interest income – related parties decreased by $37 to $32 for the three months ended September 30, 2021, from $69 for the three months ended September 30, 2020. The decrease was primarily due to interest on notes receivable – related parties as a result of a decreased note receivable due to repayment. 

Interest expense was $0 for the three months ended September 30, 2021, compared to $0 for the three months ended September 30, 2020.

Due to the described factors above, we had a net loss of $104,314 and $176,909 for the three months ended September 30, 2021 and 2020, respectively.

3

Nine Months Ended September 30, 2021 Compared to Nine Months Ended September 30, 2020

We generated revenue of $13,980 and $5,471 for the nine months ended September 30, 2021 and 2020, respectively. The increase in revenue is mainly attributed to an increase in customer’s visits following the re-opening of our delicatessen as a result of the easing of restrictions related to the COVID-19 pandemic.

Our total cost and expenses were $403,451 for the nine months ended September 30, 2021, compared to $437,255 for the nine months ended September 30, 2020. The total cost and expenses decreased by approximately 8% primarily as a result of a decrease of $40,000 in consulting fees paid to related parties and a decrease of $50,202 in professional fees related to the preparation and filing of a registration statement by the Company during the nine months ended September 30, 2020, offset by an increase in food costs of $10,246 and labor costs of $1,499, an increase of $30,000 in consulting fees paid during the nine months ended September 30, 2021, and an increase of $19,419 in general and administrative expenses. The increase in general and administrative fees was attributable to fees required in connection with filings with the SEC and an increase in general business expenses.

We incurred a loss from operations of $389,471 and $431,784 for the nine months ended September 30, 2021 and 2020, respectively. The decrease in loss from operations is mainly attributable to an increase in total costs and expenses and slightly offset by our increase in revenue during the nine months ended September 30, 2021, as compared to the same period ended September 30, 2020.

Other income for the nine months ended September 30, 2020 was $1,000 resulting from the New Jersey Economic Development Authority grant received from the NJEDA Small Business Emergency Assistance Phase 2 Grant assistance program in light of the impact of the coronavirus pandemic.

Interest income – related parties increased by $4,643 to $4,903 for the nine months ended September 30, 2021, from $260 for the nine months ended September 30, 2020. The increase was primarily due to interest on notes receivable – related parties as a result of increased note receivable. 

Interest expense was $0 for the nine months ended September 30, 2021, compared to $9,091 for the nine months ended September 30, 2020. This decrease was due to a lower interest expense on loans as a result of a decrease in debt outstanding.

Due to the described factors above, we had a net loss of $384,568 and $439,615 for the nine months ended September 30, 2021 and 2020, respectively.

Liquidity and Capital Resources

As of September 30, 2021, we had current assets of $1,225,582, consisting of $1,222,934 in cash and $2,648 in inventory. Our current liabilities as of September 30, 2021, were $74,363, which is comprised of $62,297 due to certain former officers, $6,788 in accounts payable and accrued expenses, and $5,278 in current operating lease liability. Our long-term liabilities as of September 30, 2021, were $4,318, which is comprised of long-term operating lease liability.

4

The following is a summary of our cash flows provided by (used in) operating, investing, and financing activities for the nine months ended September 30, 2021 and 2020:

	For the nine months ended September 30, 2021			For the nine months  ended September 30, 2020
	(Unaudited)
Net Cash Used in Operating Activities	$	(322,620	)	$	(465,381	)
Net Cash Provided by Investing Activities	$	150,000		$	-
Net Cash (Used in) Provided by Financing Activities	$	(2,452	)	$	2,207,650
Net (Decrease) Increase in Cash and Cash Equivalents	$	(175,072	)	$	1,742,269

For the nine months ended September 30, 2021, net cash used in operations of $322,620 was the result of a net loss of $384,568, offset by in-kind contribution of services by $51,571, depreciation expense of $205, a decrease in prepaid expenses and other current assets of $6,594, an increase in inventory of $1,694, a decrease in interest receivable of $872, and an increase in accounts payable and accrued expense of $4,400.

For the nine months ended September 30, 2020, net cash used in operations of $465,381 was the result of a net loss of $439,615, offset by in-kind contribution of services of $23,142, depreciation expense of $5,428, a decrease in operating lease right of use of $4,006, an increase of inventory of $109, a decrease of accounts payable and accrued expenses of $54,227, and a decrease in operating lease liability of $4,006.

Net cash provided by our investing activities were $150,000 and $0 for the nine months ended September 30, 2021 and September 30, 2020, respectively. The increase was attributable to issuance of note receivable - related party of $150,000 and a repayment of note receivable – related party of $300,000.

Our financing activities resulted in a cash outflow of $2,452 for the nine months ended September 30, 2021, which is represented by $1,000 in proceeds from due to former officers, $4,993 due to President – related party for corporate expense reimbursement and a $8,445 repayment of due to President – related party.

Our financing activities resulted in a cash inflow of $2,207,650 for the nine months ended September 30, 2020, which is represented by $2,500,000 proceeds from issuance of common stock, $8,090 proceeds from a shareholder loan payable, $332,104 loan repayment to related party, $70,000 proceeds from note payable- related party and $38,336 purchase of treasury stock.

As reflected in the accompanying condensed consolidated unaudited financial statements, the Company used cash in operations of $322,620, has an accumulated deficit of $1,822,844 and has a net loss of $384,568 for the nine months ended September 30, 2021.

The Company is slowly regaining its customer base since re-opening. However, even though the delicatessen has been re-opened, the Company may have a slowdown in customer visits due to the current economic condition. There can be no assurance that we will generate sufficient revenues to continue our operations. The Company expects the growth rate and sales to be volatile in the near term.

Critical Accounting Policies and Estimates

Use of Estimates in Financial Statements

In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Significant estimates include valuation of in-kind contribution of service and valuation of deferred tax assets. Actual results could differ from those estimates.

Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”. The standard states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

The Company generates revenue operating a delicatessen. Revenues from the operations of Company-owned delicatessen are recognized when sales occur.

5

Leases

The Company accounts for lease in accordance with ASC Topic 842, “Leases”.

Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The operating lease right-of-use (ROU) asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred, if any.

The lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the balance sheet as operating lease assets, current operating lease liabilities and non-current operating lease liabilities.

Off Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, sales or expenses, results of operations, liquidity or capital expenditures, or capital resources that are material to an investment in our securities.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable because we are an emerging growth company.

ITEM 4. CONTROLS AND PROCEDURES.

Disclosure Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), the Company carried out an evaluation, with the participation of the Company’s management, including the Company’s Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based upon that evaluation, the Company’s CEO and CFO concluded that our disclosure controls and procedures were not effective as of September 30, 2021 for the material weakness described below.

Management’s Report on Internal Control over Financial Reporting

The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting for the Company. Our internal control system was designed to, in general, provide reasonable assurance to the Company’s management and board regarding the preparation and fair presentation of published financial statements, but because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Our management assessed the effectiveness of the Company’s internal control over financial reporting as of September 30, 2021. The framework used by management in making that assessment was the criteria set forth in the document entitled “Internal Control – Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework). Based on this assessment, our management has concluded that our internal controls were not effective as of September 30, 2021 for the material weaknesses describe as follows: (i) lack of an independent board of directors, (ii) our accounting personnel lack U.S. GAAP expertise and (iii) lack of segregated duties.

Changes in Internal Controls over Financial Reporting

No change in our internal control over financial reporting occurred during the third fiscal quarter ended September 30, 2021 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

6

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

From time to time, we may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results.

ITEM 1A. RISK FACTORS.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None, other than as previously disclosed in a Current Report on Form 8-K.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

None. 

ITEM 6. EXHIBITS.

Exhibits #	Title
31.1/31.2*	Certification of Principal Executive Officer and Principal Financial and Accounting Officer pursuant to Exchange Act Rule 13a-14(a)/15d-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1/32.2*	Certification of Principal Executive Officer and Principal Financial and Accounting Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema Document
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document
104*	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

* Filed herewith

7

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, thereunto duly authorized.

Date: November 15, 2021	HOMETOWN INTERNATIONAL, INC.
		/s/ Peter Coker Jr.
	Name:	Peter Coker Jr.
	Title:	President, Chief Executive Officer,
		Chief Financial Officer, Secretary
		Treasurer and Chairman of the Board of Directors
		(Principal Executive Officer and Principal Financial and Accounting Officer

8

EX-31.1

Exhibit 31.1/31.2

CERTIFICATION

OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302

OF THE SARBANES-OXLEY ACT OF 2002

I, Peter Coker Jr., certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Hometown International, Inc. for the period ended September 30, 2021:

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrants’ other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 15, 2021	/s/ Peter Coker Jr.
	Peter Coker Jr.
	President, Chief Executive Officer,
	Chief Financial Officer, Secretary
	Treasurer and Chairman of the Board of Directors
	(Principal Executive Officer and
	Principal Financial and Accounting Officer)

EX-32.1

Exhibit 32.1/32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code), the undersigned officer of Hometown International, Inc. (the “Company”), does hereby certify, to such officer’s knowledge, that:

The Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (the “Form 10-Q”) of the Company fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company as of, and for, the periods presented in the Form 10-Q.

Date: November 15, 2021	/s/ Peter Coker Jr.
	Peter Coker Jr.
	President, Chief Executive Officer,
	Chief Financial Officer, Secretary
	Treasurer and Chairman of the Board of Directors
	(Principal Executive Officer and
	Principal Financial and Accounting Officer)

The foregoing certification is being furnished as an exhibit to the Form 10-Q pursuant to Item 601(b)(32) of Regulation S-K and Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code) and, accordingly, is not being filed as part of the Form 10-Q for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

XML

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 15, 2021
Document Information Line Items
Entity Registrant Name	HOMETOWN INTERNATIONAL, INC.
Trading Symbol	N/A
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		7,797,004
Amendment Flag	false
Entity Central Index Key	0001632081
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-207488
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	46-5705488
Entity Address, Address Line One	500 W. 5th Street
Entity Address, Address Line Two	Suite 800
Entity Address, Address Line Three	PMB # 57
Entity Address, City or Town	Winston Salem
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27101
City Area Code	853
Local Phone Number	6666 8542
Title of 12(b) Security	None
Security Exchange Name	NONE
Entity Interactive Data Current	Yes

XML

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current Assets
Cash	$ 1,222,934	$ 1,398,006
Prepaid expenses and other current assets		6,594
Inventory	2,648	954
Note receivable - related parties, net		150,000
Interest receivable - related parties		872
Total Current Assets	1,225,582	1,556,426
Leasehold improvements and equipment, net	32	237
Operating lease asset	9,596	2,914
Total Assets	1,235,210	1,559,577
Current Liabilities
Accounts payable and accrued expenses	6,788	2,388
Due to related party		3,452
Operating lease liability, current	5,278	2,914
Due to former officers	62,297	61,297
Total Current Liabilities	74,363	70,051
Long Term Liabilities
Operating lease liability, net of current	4,318
Total Liabilities	78,681	70,051
Commitments and Contingencies (See Note 8)
Stockholders’ Equity
Common stock, $0.0001 par value; 250,000,000 shares authorized, 7,797,004 and 7,797,004 issued and outstanding, respectively	780	780
Additional paid-in capital	2,978,593	2,927,022
Accumulated deficit	(1,822,844)	(1,438,276)
Total Stockholders’ Equity	1,156,529	1,489,526
Total Liabilities and Stockholders’ Equity	$ 1,235,210	$ 1,559,577

XML

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	7,797,004	7,797,004
Common stock, shares outstanding	7,797,004	7,797,004

XML

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Sales	$ 2,387	$ 1,894	$ 13,980	$ 5,471
Costs and Expenses
Food, beverage and supplies	4,118	1,039	14,149	3,903
Labor	1,080		1,499
Direct operating and occupancy	3,037	1,485	6,177	5,720
Depreciation	54	1,805	205	5,428
Consulting - related parties		120,000	160,000	200,000
Consulting	22,500		30,000
Professional fees	33,198	18,158	96,031	146,233
General and administrative	42,746	37,385	95,390	75,971
Total cost and expenses	106,733	179,872	403,451	437,255
Loss from Operations	(104,346)	(177,978)	(389,471)	(431,784)
Other Income (Expenses)
Other Income		1,000		1,000
Interest Income - related parties	32	69	4,903	260
Interest Expense				(9,091)
Total Other Income (Expenses)	32	1,069	4,903	(7,831)
LOSS FROM OPERATIONS BEFORE INCOME TAXES	(104,314)	(176,909)	(384,568)	(439,615)
Provision for Income Taxes
NET LOSS	$ (104,314)	$ (176,909)	$ (384,568)	$ (439,615)
Net Loss Per Share - Basic and Diluted (in Dollars per share)	$ (0.01)	$ (0.02)	$ (0.05)	$ (0.06)
Weighted average number of shares outstanding during the period - Basic and Diluted (in Shares)	7,797,004	7,797,004	7,797,004	6,841,567

XML

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Shares	Total
Balance at Dec. 31, 2019	$ 523	$ 334,759	$ (806,920)		$ (471,638)
Balance (in Shares) at Dec. 31, 2019	5,235,340
Conversion of note payable - related party to common shares ($1.00/share)	$ 10	99,990			100,000
Conversion of note payable - related party to common shares ($1.00/share) (in Shares)	100,000
Repurchase of common shares ($1.00/share)				$ (38,336)	(38,336)
Repurchase of common shares ($1.00/share) (in Shares)	(38,336)
Common stock issued for cash ($1.00/share)	$ 250	2,499,750			2,500,000
Common stock issued for cash ($1.00/share) (in Shares)	2,500,000
In kind contribution of services		23,142			23,142
Net loss			(439,615)		(439,615)
Balance at Sep. 30, 2020	$ 783	2,957,641	(1,246,535)	(38,336)	1,673,553
Balance (in Shares) at Sep. 30, 2020	7,797,004
Balance at Jun. 30, 2020	$ 783	2,949,927	(1,069,626)	(38,336)	1,842,748
Balance (in Shares) at Jun. 30, 2020	7,797,004
In kind contribution of services		7,714			7,714
Net loss			(176,909)		(176,909)
Balance at Sep. 30, 2020	$ 783	2,957,641	(1,246,535)	$ (38,336)	1,673,553
Balance (in Shares) at Sep. 30, 2020	7,797,004
Balance at Dec. 31, 2020	$ 780	2,927,022	(1,438,276)		1,489,526
Balance (in Shares) at Dec. 31, 2020	7,797,004
In kind contribution of services		51,571			51,571
Net loss			(384,568)		(384,568)
Balance at Sep. 30, 2021	$ 780	2,978,593	(1,822,844)		1,156,529
Balance (in Shares) at Sep. 30, 2021	7,797,004
Balance at Jun. 30, 2021	$ 780	2,950,593	(1,718,530)		1,232,843
Balance (in Shares) at Jun. 30, 2021	7,797,004
In kind contribution of services		28,000			28,000
Net loss			(104,314)		(104,314)
Balance at Sep. 30, 2021	$ 780	$ 2,978,593	$ (1,822,844)		$ 1,156,529
Balance (in Shares) at Sep. 30, 2021	7,797,004

XML

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals)	9 Months Ended
	Sep. 30, 2020 $ / shares
Statement of Stockholders' Equity [Abstract]
Conversion of note payable - related party to common shares, per share	$ 1
Repurchase of common shares, per share	1
Common stock issued for cash, per share	$ 1

XML

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows From Operating Activities:
Net Loss	$ (384,568)	$ (439,615)
Adjustments to reconcile net loss to net cash used in operations
In-kind contribution of services	51,571	23,142
Depreciation expense	205	5,428
Amortization of operating lease assets	3,887	4,006
Changes in operating assets and liabilities:
Decrease in prepaid expenses and other current assets	6,594
(Increase) in inventory	(1,694)	(109)
Decrease in interest receivable - related parties	872
Increase in accounts payable and accrued expenses	4,400	(54,227)
Decrease in operating lease liability	(3,887)	(4,006)
Net Cash Used In Operating Activities	(322,620)	(465,381)
Cash Flows From Investing Activities:
Note receivable - related parties	(150,000)
Repayment of note receivable - related parties	300,000
Net Cash Provided By Investing Activities	150,000
Cash Flows From Financing Activities:
Proceeds from common stock issuance for cash		2,500,000
Proceeds from/due to former officers	1,000	8,090
Proceeds from/due to related party	4,993
Repayment of due to related party	(8,445)
Repayment of note payable - related party		(332,104)
Proceeds from note payable - related party		70,000
Purchase of treasury stock		(38,336)
Net Cash Provided by (Used in) Financing Activities	(2,452)	2,207,650
Net (Decrease) Increase in Cash	(175,072)	1,742,269
Cash at Beginning of Period	1,398,006	5,382
Cash at End of Period	1,222,934	1,747,651
Supplemental disclosure of cash flow information:
Cash paid for interest		9,091
Cash paid for taxes
Supplemental disclosure of non-cash investing and financing activities:
Operating lease asset obtained for operating lease liability upon remeasurement	10,569
Note payable - related party, converted into 100,000 shares of common stock		$ 100,000

XML

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Converted into shares of common stock		100,000

XML

Summary of Significant Accounting Policies and Organization

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

(A) Organization and Basis of Presentation

The accompanying condensed consolidated unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all the information necessary for a comprehensive presentation of financial position and results of operations.

These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 26, 2021.

It is management’s opinion that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year.

Hometown International, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on May 19, 2014. Through its wholly owned subsidiary, Your Hometown Deli, LLC, the Company is the originator of a new “Delicatessen” concept (“Your Hometown Deli”). The Company intends that its delicatessens will feature “home-style” sandwiches and other entrees in a casual friendly atmosphere, designed to be comfortable community gathering places for guests of all ages. Targeted towards smaller towns and communities, the Company’s first and only store is located in Paulsboro, New Jersey.

On January 18, 2014, Your Hometown Deli, LLC was formed under the laws of the State of New Jersey. On May 29, 2014, Your Hometown Deli, LLC, entered into a Membership Interest Purchase Agreement with Hometown International, Inc. For accounting purposes, this transaction is being accounted for as a merger of entities under common control and has been treated as a recapitalization of Hometown International, Inc. with Your Hometown Deli, LLC, as the accounting acquirer. The historical financial statements of the accounting acquirer became the financial statements of the registrant. The Company did not recognize goodwill or any intangible assets in connection with the transaction. The 5,000,000 shares issued to the shareholder of Your Hometown Deli, LLC, in conjunction with the share exchange transaction has been presented as outstanding for all periods.

On May 12, 2021, shareholder’s holding  77% of the Company’s voting power removed Paul Morina and Christine Lindenmuth as members of the Company’s board of directors, by written consent. On May  13, 2021, the Company’s board of directors, removed Paul Morina from all officer positions he held with the Company, including Chief Executive Officer, Chief Financial Officer and Treasurer, and removed Christine Lindenmuth from all officer positions she held with the Company, including Vice President and Secretary. In connection with Mr. Morina’s removal, he was removed from his roles as the Company’s “Principal Executive Officer” and “Principal Financial and Accounting Officer” for Securities and Exchange Commission (“SEC”) reporting purposes. Effective immediately upon the removals of Mr. Morina and Ms. Lindenmuth, Peter Coker Jr., the Company’s Chairman of the Company’s board of directors, was appointed as the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary and Treasurer. In connection with his appointments, Mr. Coker was designated as the “Principal Executive Officer” and “Principal Financial and Accounting Officer” of the Company for SEC reporting purposes. Mr. Morina and Ms. Lindenmuth remain principals of the Company’s operating subsidiary, Your Hometown Deli, LLC, and the Company’s delicatessen in Paulsboro, New Jersey remains open. The Company continues to seek and investigate and, if such investigation warrants, will engage in, a business combination with a private entity whose business presents an opportunity for its shareholders

The Company was forced to temporarily close the delicatessen due to the stay-at-home order issued by the Governor of New Jersey on March 9, 2020, resulting from the outbreak of COVID-19. The delicatessen was re-opened on September 8, 2020, with a “soft opening” to a limited audience, prior to its “Grand Re-Opening” to the public on September 22, 2020. The temporary closure and other effects of COVID-19 had a material impact on the Company’s business during 2020. It is anticipated that the COVID-19 pandemic will continue to impact the Company’s business in 2021.

Going forward, the Company intends to seek, investigate and, if such investigation warrants, engage in a business combination with a private entity whose business presents an opportunity for our shareholders. The Company has no particular business combination in mind and has not entered into any negotiations regarding such a combination.

The Company’s accounting year end is December 31, which is the year end of Your Hometown Deli, LLC.

(B) Principles of Consolidation

The accompanying September 30, 2021 and 2020 unaudited condensed consolidated financial statements include the accounts of Hometown International, Inc. and its wholly owned subsidiary, Your Hometown Deli, LLC. All intercompany accounts have been eliminated upon consolidation.

(C) Use of Estimates

In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Significant estimates include valuation of in-kind contribution of service, valuation of deferred tax assets and operating lease assets and liabilities. Actual results could differ from those estimates.

(D) Cash and Cash Equivalents

The Company considers all highly liquid temporary cash investments with an original maturity of 90 days or less to be cash equivalents. At September 30, 2021 and December 31, 2020, the Company had no cash equivalents.

(E) Loss Per Share

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB ASC No. 260, “Earnings Per Share.” Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period”. For September 30, 2021 and 2020, warrants were not included in the computation of income/ (loss) per share because their inclusion is anti-dilutive.

The computation of basic and diluted loss per share for September 30, 2021 and September 30, 2020 excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:

	September 30, 2021		September 30, 2020
	(Unaudited)		(Unaudited)
Class A Warrants (Exercise price - $1.25/share)		38,985,020		38,985,020
Class B Warrants (Exercise price - $1.50/share)		38,985,020		38,985,020
Class C Warrants (Exercise price - $1.75/share)		38,985,020		38,985,020
Class D Warrants (Exercise price - $2.00/share)		38,985,020		38,985,020
Total		155,940,080		155,940,080

(F) Income Taxes

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

(G) Property and Equipment

Property and equipment is recorded at cost and depreciated or amortized using the straight-line method over the estimated useful life of the asset or the underlying lease term for leasehold improvements, whichever is shorter onset the property and equipment is put into service.

(H) Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”. The standard states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

The Company generates revenue operating a delicatessen. Revenues from the operations of Company-owned delicatessen are recognized when sales occur.

(I) Fair Value of Financial Instruments

The Company measures its financial assets and liabilities in accordance with GAAP. For certain of our financial instruments, including cash, accounts payable, and the short-term portion of long-term debt, the carrying amounts approximate fair value due to their short maturities.

We adopted accounting guidance for financial and non-financial assets and liabilities (ASC 820). The adoption did not have a material impact on our results of operations, financial position or liquidity. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

● Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

● Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

● Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.

(J) Concentrations

The Company maintains various bank accounts at one bank, which, at times, may have balances that exceed federally insured limits. The Company believes it is not exposed to any significant credit risk on its cash balances and has not experienced any losses in such accounts. At September 30, 2021 and December 31, 2020, the Company had cash balances in excess of FDIC limits of $970,393 and $1,147,290, respectively.  

(K) Recent Accounting Pronouncements

All newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable.

(L) Business Segments

The Company operates in one segment and therefore segment information is not presented.

(M) Inventories

Inventories consist of food and beverages, and are stated at cost. 

(N) Advertising

Advertising costs are expensed as incurred. These costs are included in direct operating & occupancy expenses and totaled $1,956 and $96 for the nine months ended September 30, 2021 and 2020, respectively.

Advertising costs are expensed as incurred. These costs are included in direct operating & occupancy expenses and totaled $1,080 and $96 for the three months ended September 30, 2021 and 2020, respectively.

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Leasehold Improvement and Equipment

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

LEASEHOLD IMPROVEMENT AND EQUIPMENT

NOTE 2 LEASEHOLD IMPROVEMENT AND EQUIPMENT

Leasehold improvement and equipment consist of the following at September 30, 2021 and December 31, 2020:

	September 30,			December 31,
	2021			2020
	(Unaudited)
Leasehold Improvements		33,455			33,455
Equipment		3,120			3,120
Leasehold Improvements and Equipment		36,575			36,575
Less: Accumulated Depreciation		(36,543	)		(36,338	)
Leasehold Improvements and Equipment, Net	$	32		$	237

Depreciation expense was $54 and $1,805 for the three months ended September 30, 2021 and 2020, respectively.

Depreciation expense was $205 and $5,428 for the nine months ended September 30, 2021 and 2020, respectively.

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Notes Receivable – Related Parties

9 Months Ended

Sep. 30, 2021

Notes Receivable To Related Party Disclosures [Abstract]

NOTES RECEIVABLE – RELATED PARTIES

NOTE 3 NOTES RECEIVABLE – RELATED PARTIES

On February 12, 2021, the Company received an unsecured promissory note from Med Spa Vacations, Inc., a related party, in exchange for $150,000. Pursuant to the terms of the note, the note is bearing interest at the rate of 6%, unsecured, and due on or before February 11, 2022. As of May 12, 2021, the Company has an interest receivable balance of $2,250. On May 12, 2021, the full principal of the note receivable and $2,250 of related accrued interest receivable were fully paid by the noteholder (See Note 9).

On November 25, 2020, the Company received an unsecured promissory note from E-Waste Corp., a related party, in exchange for $150,000. Pursuant to the terms of the note, the note is bearing interest at the rate of 6%, unsecured, and due on or before November 25, 2021. On March 1, 2021, the Company collected $2,250 of interest receivable. As of April 14, 2021, the Company has an interest receivable balance of $1,184. On April 14, 2021, the full principal of the note receivable and $1,184 of related accrued interest receivable were fully paid by the noteholder (See Note 9).

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Note Payable – Related Party

9 Months Ended

Sep. 30, 2021

Notes Payable To Related Party Disclosures [Abstract]

NOTE PAYABLE – RELATED PARTY

NOTE 4 NOTE PAYABLE – RELATED PARTY

On March 18, 2020, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $50,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured, and due on March 31, 2021. As of April 24, 2020, the Company accrued $406 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On February 13, 2020, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $20,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on February 13, 2021. As of April 24, 2020, the Company accrued $315 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On December 31, 2019, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $10,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on December 31, 2020. As of April 24, 2020, the Company accrued $255 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On December 31, 2019, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $175,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on September 30, 2020. As of April 24, 2020, the Company accrued $4,462 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On December 31, 2019, the Company and a related party note holder agreed to combine the principal and accrued interest of multiple notes, and issued a new unsecured promissory note in the amount of $144,979. The note is bearing 8% interest, unsecured and due on December 31, 2020.

On March 18, 2020, the Company, entered into a Debt Exchange Agreement with a related party pursuant to which $100,000 of the principal amount of debt owed by the Company was converted to 100,000 shares of the Company’s common stock. The remaining principal balance owed to such party in the amount of $44,979, plus any accrued and unpaid interest, is due and payable on December 31, 2020. As of April 24, 2020, the Company accrued $2,885 in interest expense. On April 24, 2020, the remaining note principal and accrued interest were repaid in full (See Notes 7 (E) and 9).

On December 31, 2019, the Company and Peter L. Coker, Jr., the Company’s Chairman of the Board, agreed to combine the principal and accrued interest of a note and issued a new unsecured promissory note in the amount of $30,126. The note is bearing 8% interest, unsecured and due on December 31, 2020. As of April 24, 2020, the Company accrued $768 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 9).

On October 16, 2014, the Company entered into an unsecured promissory note with a related party in the amount of $2,000. Pursuant to the terms of the note, the note is non-interest bearing, unsecured and is due on demand. On January 25, 2020, the note principal was repaid in full (See Note 9).

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Due to Former Officers

9 Months Ended

Sep. 30, 2021

Due To Related Party Disclosure [Abstract]

DUE TO FORMER OFFICERS

NOTE 5 DUE TO FORMER OFFICERS

During the nine months ended September 30, 2021, certain former officers paid a net aggregate $1,000 in expenses on the Company’s behalf as an advance. Pursuant to the terms of the note, the note is non-interest bearing, unsecured and due on demand. As of September 30, 2021, the balance due to former officers was $62,297 (See Note 9).

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Due To Related Party

9 Months Ended

Sep. 30, 2021

Due To Related Party [Abstract]

DUE TO RELATED PARTY

NOTE 6 DUE TO RELATED PARTY

As of March 31, 2021, the Company owed to its Chairman $4,993 for corporate expense reimbursement. The amount was repaid on April 12, 2021 (See Note 9).

As of December 31, 2020, the Company owed to its Chairman $3,452 for corporate expense reimbursements. The amount was repaid on January 20, 2021 (See Note 9).

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Stockholders’ Equity

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 7 STOCKHOLDERS’ EQUITY

(A) Increase in Authorized Shares

On March 23, 2020, the Company filed a Certificate of Amendment to the Company’s Articles of Incorporation with the Secretary of State of the State of Nevada, increasing the number of shares of common stock the Company is authorized to issue from 100,000,000 to 250,000,000, with a par value of $0.0001 per share.

(B) In-kind Contribution of Services

For the three months ended September 30, 2021 and 2020, the Company recorded $0 and $7,714, respectively, as in-kind contribution of services provided by the former President and former Vice President of the Company (See Note 9).

For the nine months ended September 30, 2021 and 2020, the Company recorded $11,571 and $23,142, respectively, as in-kind contribution of services provided by the former President and former Vice President of the Company (See Note 9).

For the three months ended September 30, 2021 and 2020, the Company recorded $28,000 and $0, respectively, as in-kind contribution of services provided by the current President of the Company (See Note 9).

For the nine months ended September 30, 2021 and 2020, the Company recorded $40,000 and $0, respectively, as in-kind contribution of services provided by the current President of the Company (See Note 9).

(C) Common Stock Repurchase

On March 18, 2020, the Company repurchased an aggregate of 38,336 shares of the Company’s common stock from a total of 11 shareholders, at a purchase price of $1.00 per share.

(D) Warrant Issuance

On March 18, 2020, the Board of Directors of the Company authorized the issuance of warrants to the shareholders of record as of the issuance date. As of such date, the Company was to issue each shareholder of record (i) five Class A Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.25 per share, (ii) five Class B Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.50 per share, (iii) five Class C Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.75 per share and (iv) five Class D Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $2.00 per share, with each warrant expiring on March 31, 2035. On March 31, 2020, the record date for the issuance of the warrants as extended to April 15, 2020.

On April 15, 2020, the Company issued twenty warrants for every one share of common stock held to shareholders of record as of April 15, 2020. The warrants were issued to the shareholders of record on a pro-rata basis on the issuance date. There was no consideration in exchange for the issuance of these warrants and, therefore, these warrants are treated as a shareholder’s distribution with a net effect of zero on the stockholder’s equity.

The Company issued the following warrants:

● 38,985,020 Class A Warrants

● 38,985,020 Class B Warrants

● 38,985,020 Class C Warrants

● 38,985,020 Class D Warrants 

As of the date of this report, no warrants have been exercised.

	Number of Warrants		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)
Balance, December 31, 2020		155,940,080		1.625		14.25
Granted		-		-		-
Exercised		-		-		-
Cancelled/Forfeited		-		-		-
Balance, September 30, 2021 (Unaudited)		155,940,080	$	1.625		13.51
Intrinsic Value	$	1,890,773,470		-		-

For the nine months ended September 30, 2021, the following warrants were outstanding:

Exercise Price Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
$	1.25		38,985,020		13.51	$	487,312,750
$	1.50		38,985,020		13.51	$	477,566,495
$	1.75		38,985,020		13.51	$	467,820,240
$	2.00		38,985,020		13.51	$	458,073,985

For the year ended December 31, 2020, the following warrants were outstanding:

Exercise Price Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
$	1.25		38,985,020		14.25	$	467,820,240
$	1.50		38,985,020		14.25	$	458,073,985
$	1.75		38,985,020		14.25	$	448,327,730
$	2.00		38,985,020		14.25	$	438,581,475

(E) Common Stock Issued on Debt Conversion

On March 18, 2020, the Company entered into a Debt Exchange Agreement with a related party pursuant to which $100,000 of the principal amount of debt owed by the Company was converted to 100,000 shares of the Company’s common stock (See Notes 4 and 9).

(F) Common Stock Issued for Cash

In April 2020, the Company sold 663,750 shares of common stock to an unrelated party for $663,750 in cash. The funds were received by the Company on April 14, 2020.

In April 2020, the Company sold 1,380,000 shares of common stock to an unrelated party for $1,380,000 in cash. The funds were received by the Company on April 15, 2020.

In April 2020, the Company sold 456,250 shares of common stock to an unrelated party for $456,250 in cash. The funds were received by the Company on April 14, 2020.

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 8 COMMITMENTS AND CONTINGENCIES

Consulting Agreements

Effective as of April 26, 2021, the Company also entered into a Consulting Agreement with Benchmark Capital, LLC Limited, a company formed under the laws of New Jersey (“Benchmark”). Pursuant to this agreement, Benchmark was engaged as a consultant to the Company, to assist with all filings requirements with the SEC. The term of the agreement is month-to-month; 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, Benchmark shall receive $7,500 per month, during the term of the agreement, starting on June 1, 2021, in addition to reimbursement of expenses approved in advance by the Company.

Effective as of May 1, 2020, the Company entered into a Consulting Agreement with Tryon Capital Ventures LLC, a North Carolina limited liability company (“Tryon”), which is 50% owned by the father of Peter L. Coker, Jr., our Chairman of the Board. Pursuant to this agreement, Tryon was engaged as a consultant to the Company, to, among other things, support in the research, development, and analysis of product, financial and strategic matters. The term of the Tryon Consulting Agreement was one year; provided, however, that each party had the right to terminate the agreement upon 30 days’ prior written notice to the other. Pursuant to the agreement, Tryon was to receive $15,000 per month during the term of the agreement, in addition to reimbursement of expenses approved in advance by the Company. On April 26, 2021, the Company terminated the consulting agreement with Tryon (See Note 9). 

Effective as of May 1, 2020, the Company 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 the Company’s 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. Upon expiration, the agreement was not renewed. (See Note 9). 

Operating Lease Agreement

On July 1, 2014, the Company entered into a five-year non-cancelable operating lease with a related party for its store space at a monthly rate of $500. On September 21, 2015, the Company executed the lease and opened the delicatessen on October 14, 2015. On December 29, 2015, the Company signed an addendum to the lease for the lease agreement to start 30 days after the opening of the delicatessen. The delicatessen opened on October 14, 2015, and the first payments would have been due on November 15, 2015, however, since the delicatessen was not fully functioning, the first monthly rent payment was due January 1, 2016. On August 12, 2019, the Company was granted a two-year extension of non-cancelable operating lease with a related party for its store space at a monthly rate of $500. On March 22, 2021, the Company was granted an additional two-year extension of non-cancelable operating lease with a related party for its store space at a monthly rate of $500 (See Note 9). The Company accounts for lease in accordance with ASC Topic 842, “Leases”. For the nine months ended September 30, 2021 and 2020, the Company had a rent expense of $4,500 and $4,500, respectively.

Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The operating lease right-of-use (ROU) asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred, if any. In calculating the present value of the revised lease payments, the Company elected to utilize its incremental borrowing rate based on the revised lease terms as of the March 22, 2021, re-measurement date. This rate was determined to be 10%, and the Company determined the initial present value, at inception, of $10,569.

The lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the balance sheet as operating lease assets, current operating lease liabilities and non-current operating lease liabilities.

Supplemental consolidated balance sheet information related to leases was as follows:

Operating Leases
	September 30, 2021 (Unaudited)
Operating lease assets - right of use	$	9,596
Lease liability is summarized below:
Lease Liability	$	9,596
Less: operating lease liability, current		(5,278	)
Long term operating lease liability	$	4,318
Maturities of lease liabilities at September 30, 2021 are as follows:
2021	$	1,500
2022		6,000
2023		3,000
Total lease liability		10,500
Less: present value discount		(904	)
Total lease liability	$	9,596

Supplemental disclosures of cash flow information related to leases were as follows:

	For the nine months ended September 30, 2021		For the nine months ended September 30, 2020
	(Unaudited)		(Unaudited)
Cash paid for operating lease liabilities	$	4,500	$	4,500

	For the nine months ended September 30, 2021		For the nine months ended September 30, 2020
	(Unaudited)		(Unaudited)
Operating lease asset obtained for operating lease liability upon remeasurement	$	10,569	$	-

For the three months ended September 30, 2021 and 2020, the total lease costs were $1,500 and $1,500, respectively. The Company did not incur any variable lease cost for both periods.

For the nine months ended September 30, 2021 and 2020, the total lease costs were $4,500 and $4,500, respectively. The Company did not incur any variable lease cost for both periods.

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Related Party Transactions

9 Months Ended

Sep. 30, 2021

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 9 RELATED PARTY TRANSACTIONS

On July 1, 2014, the Company entered into a five-year non-cancelable operating lease with a related party for its store space at a monthly rate of $500. On September 21, 2015, the Company executed the lease and opened the delicatessen on October 14, 2015. On December 29, 2015, the Company signed an addendum to the lease for the lease agreement to start 30 days after the opening of the delicatessen. The delicatessen opened on October 14, 2015, and the first payment would have been due on November 15, 2015, however, since the delicatessen was not fully functioning, the first monthly rent payment was due January 1, 2016. On August 12, 2019, the Company was granted a two-year extension of non-cancelable operating lease with a former related party for its store space at a monthly rate of $500. On March 22, 2021, the Company was granted an additional two-year extension of non-cancelable operating lease with a former related party for its store space at a monthly rate of $500. For the nine months ended September 30, 2021 and 2020, the Company had a rent expense of $4,500 and $4,500, respectively (See Note 8). 

On October 16, 2014, the Company entered into an unsecured promissory note with a former related party in the amount of $2,000. Pursuant to the terms of the note, the note is non-interest bearing, unsecured and due on demand. On January 25, 2020, the note principal was repaid in full (See Note 4).

For the three months ended September 30, 2021 and 2020, the Company recorded $0 and $7,714, respectively, as in-kind contribution of services provided by the former President and former Vice President of the Company (See Note 7 (B)).

For the nine months ended September 30, 2021 and 2020, the Company recorded $11,571 and $23,142, respectively, as in-kind contribution of services provided by the former President and former Vice President of the Company (See Note 7 (B)).

For the three months ended September 30, 2021 and 2020, the Company recorded $28,000 and $0, respectively, as in-kind contribution of services provided by the current President of the Company (See Note 7 (B)).

For the nine months ended September 30, 2021 and 2020, the Company recorded $40,000 and $0, respectively, as in-kind contribution of services provided by the current President of the Company (See Note 7 (B)).

During the nine months ended September 30, 2021, certain former officers paid a net aggregate $1,000 in expenses on Company’s behalf as an advance. Pursuant to the terms of the note, the note was non-interest bearing, unsecured and due on demand. As of September 30, 2021, the balance due to former officers was $62,297 (See Note 5).

As of March 31, 2021, the Company owed to its Chairman $4,993 for corporate expense reimbursement. The amount was repaid on April 12, 2021 (See Notes 6 and 11).

As of December 31, 2020, the Company owed to its Chairman $3,452 for corporate expense reimbursements. The amount was repaid on January 20, 2021 (See Note 6).

On December 31, 2019, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $10,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on December 31, 2020. As of April 24, 2020, the Company accrued $255 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4)

On December 31, 2019, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., the Company’s Chairman of the Board, in the amount of $175,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on September 30, 2020. As of April 24, 2020, the Company accrued $4,462 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4).

On December 31, 2019, the Company and a related party note holder agreed to combine the principal and accrued interest of multiple notes, and issued a new unsecured promissory note in the amount of $144,979. The note is bearing 8% interest, unsecured and due on December 31, 2020. On March 18, 2020, the Company entered into a Debt Exchange Agreement with a related party pursuant to which $100,000 of the principal amount of debt owed by the Company was converted to 100,000 shares of the Company’s common stock (See Note 7 (E)). The remaining principal balance owed to such party in the amount of $44,979, plus any accrued and unpaid interest, is due and payable on December 31, 2020. As of April 24, 2020, the Company accrued $2,885 in interest expense. On April 24, 2020, the remaining note principal and accrued interest were repaid in full (See Note 4).

On December 31, 2019, the Company and Peter L. Coker, Jr., the Company’s Chairman of the Board, agreed to combine the principal and accrued interest of a note and issued a new unsecured promissory note in the amount of $30,126. The note is bearing 8% interest, unsecured and due on December 31, 2020. As of April 24, 2020, the Company accrued $768 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4).

On March 18, 2020, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., its Chairman, in the amount of $50,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured, and due on March 31, 2021. As of April 24, 2020, the Company accrued $406 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4).

On February 13, 2020, the Company entered into an unsecured promissory note with Peter L. Coker, Jr., its Chairman, in the amount of $20,000. Pursuant to the terms of the note, the note is bearing 8% interest, unsecured and due on February 13, 2021. As of April 24, 2020, the Company accrued $315 in interest expense. On April 24, 2020, the note principal and accrued interest were repaid in full (See Note 4). 

Effective as of May 1, 2020, the Company entered into a Consulting Agreement with Tryon Capital Ventures LLC, a North Carolina limited liability company (“Tryon”), which is 50% owned by the father of Peter L. Coker, Jr., the Company’s Chairman of the Board. Pursuant to this agreement, Tryon was engaged as a consultant to the Company, to, among other things, support in the research, development, and analysis of product, financial and strategic matters. The term of the Tryon Consulting Agreement was one year; provided, however, that each party had the right to terminate the agreement upon 30 days’ prior written notice to the other. Pursuant to the agreement, Tryon was to receive $15,000 per month during the term of the agreement, in addition to reimbursement of expenses approved in advance by the Company. On April 26, 2021, the Company terminated the consulting agreement with Tryon (See Notes 8 and 11). 

Effective as of May 1, 2020, the Company 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 the Company’s 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. Upon expiration, the agreement was not renewed (See Notes 8 and 11). 

On November 25, 2020, the Company received an unsecured promissory note from E-Waste Corp., a related party, in exchange for $150,000. Pursuant to the terms of the note, the note is bearing interest at the rate of 6%, unsecured, and due on or before November 25, 2021. On March 1, 2021, the Company collected $2,250 of interest receivable. As of April 14, 2021, the Company has interest receivable balance of $1,184. On April 14, 2021, the full principal of the note receivable and $1,184 of related accrued interest receivable were fully paid by the noteholder (See Note 3).

On February 12, 2021, the Company received an unsecured promissory note from Med Spa Vacations, Inc., a related party, in exchange for $150,000. Pursuant to the terms of the note, the note is bearing interest at the rate of 6%, unsecured, and due on or before February 11, 2022. As of May 12, 2021, the Company has interest receivable balance of $2,250 of interest receivable (See Note 3). On May 12, 2021, full principal of the note receivable and $2,250 of related accrued interest receivable were fully paid by the noteholder (See Note 3)

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Liquidity

9 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

LIQUIDITY

NOTE 10 LIQUIDITY

As reflected in the accompanying condensed consolidated unaudited financial statements, the Company used cash in operations of $322,620, has an accumulated deficit of $1,822,844, and has a net loss of $384,568 for the nine months ended September 30, 2021.

On March 23, 2020, the Company temporarily closed the delicatessen due to the stay-at-home order issued by the Governor of New Jersey. Although the Stay at Home at Home Order was lifted, on October 24, 2020, the Governor signed Executive Order No. 191 extending the Public Health Emergency for another 30 days. The deli was re-opened on September 8, 2020, with a “soft opening” to a limited audience, prior to its “Grand Re-Opening” to the public on September 22, 2020. It is anticipated that the COVID-19 pandemic will continue to impact our business in 2021.

The Company is slowly regaining its customer base since reopening. Even though the delicatessen has been re-opened, the Company may have a slowdown in customer’s visit due to the current economic condition. There can be no assurance that the Company will generate sufficient revenues to continue its operations. The Company expects the growth rate and sales to be volatile in the near term.

As of September 30, 2021, the Company had $1,222,934 of cash on hand. The Company estimates its cash burn rate of approximately $20,000 per month. Management believes that the current working capital are sufficient to sustain its current operations for the next 12 months. Management believes that the actions taken in respect of the COVID-19 pandemic and current working capital are sufficient to sustain its current operations at its current spending levels for the next 12 months. However, the Company is unable to estimate the ultimate impact of the COVID-19 pandemic on its financial condition and future results of operations.

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Accounting Policies, by Policy (Policies)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Organization and Basis of Presentation

(A) Organization and Basis of Presentation

The accompanying condensed consolidated unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all the information necessary for a comprehensive presentation of financial position and results of operations.

These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 26, 2021.

It is management’s opinion that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year.

Hometown International, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on May 19, 2014. Through its wholly owned subsidiary, Your Hometown Deli, LLC, the Company is the originator of a new “Delicatessen” concept (“Your Hometown Deli”). The Company intends that its delicatessens will feature “home-style” sandwiches and other entrees in a casual friendly atmosphere, designed to be comfortable community gathering places for guests of all ages. Targeted towards smaller towns and communities, the Company’s first and only store is located in Paulsboro, New Jersey.

On January 18, 2014, Your Hometown Deli, LLC was formed under the laws of the State of New Jersey. On May 29, 2014, Your Hometown Deli, LLC, entered into a Membership Interest Purchase Agreement with Hometown International, Inc. For accounting purposes, this transaction is being accounted for as a merger of entities under common control and has been treated as a recapitalization of Hometown International, Inc. with Your Hometown Deli, LLC, as the accounting acquirer. The historical financial statements of the accounting acquirer became the financial statements of the registrant. The Company did not recognize goodwill or any intangible assets in connection with the transaction. The 5,000,000 shares issued to the shareholder of Your Hometown Deli, LLC, in conjunction with the share exchange transaction has been presented as outstanding for all periods.

On May 12, 2021, shareholder’s holding  77% of the Company’s voting power removed Paul Morina and Christine Lindenmuth as members of the Company’s board of directors, by written consent. On May  13, 2021, the Company’s board of directors, removed Paul Morina from all officer positions he held with the Company, including Chief Executive Officer, Chief Financial Officer and Treasurer, and removed Christine Lindenmuth from all officer positions she held with the Company, including Vice President and Secretary. In connection with Mr. Morina’s removal, he was removed from his roles as the Company’s “Principal Executive Officer” and “Principal Financial and Accounting Officer” for Securities and Exchange Commission (“SEC”) reporting purposes. Effective immediately upon the removals of Mr. Morina and Ms. Lindenmuth, Peter Coker Jr., the Company’s Chairman of the Company’s board of directors, was appointed as the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary and Treasurer. In connection with his appointments, Mr. Coker was designated as the “Principal Executive Officer” and “Principal Financial and Accounting Officer” of the Company for SEC reporting purposes. Mr. Morina and Ms. Lindenmuth remain principals of the Company’s operating subsidiary, Your Hometown Deli, LLC, and the Company’s delicatessen in Paulsboro, New Jersey remains open. The Company continues to seek and investigate and, if such investigation warrants, will engage in, a business combination with a private entity whose business presents an opportunity for its shareholders

The Company was forced to temporarily close the delicatessen due to the stay-at-home order issued by the Governor of New Jersey on March 9, 2020, resulting from the outbreak of COVID-19. The delicatessen was re-opened on September 8, 2020, with a “soft opening” to a limited audience, prior to its “Grand Re-Opening” to the public on September 22, 2020. The temporary closure and other effects of COVID-19 had a material impact on the Company’s business during 2020. It is anticipated that the COVID-19 pandemic will continue to impact the Company’s business in 2021.

Going forward, the Company intends to seek, investigate and, if such investigation warrants, engage in a business combination with a private entity whose business presents an opportunity for our shareholders. The Company has no particular business combination in mind and has not entered into any negotiations regarding such a combination.

The Company’s accounting year end is December 31, which is the year end of Your Hometown Deli, LLC.

Principles of Consolidation

(B) Principles of Consolidation

The accompanying September 30, 2021 and 2020 unaudited condensed consolidated financial statements include the accounts of Hometown International, Inc. and its wholly owned subsidiary, Your Hometown Deli, LLC. All intercompany accounts have been eliminated upon consolidation.

Use of Estimates

(C) Use of Estimates

In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Significant estimates include valuation of in-kind contribution of service, valuation of deferred tax assets and operating lease assets and liabilities. Actual results could differ from those estimates.

Cash and Cash Equivalents

(D) Cash and Cash Equivalents

The Company considers all highly liquid temporary cash investments with an original maturity of 90 days or less to be cash equivalents. At September 30, 2021 and December 31, 2020, the Company had no cash equivalents.

Loss Per Share

(E) Loss Per Share

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB ASC No. 260, “Earnings Per Share.” Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period”. For September 30, 2021 and 2020, warrants were not included in the computation of income/ (loss) per share because their inclusion is anti-dilutive.

The computation of basic and diluted loss per share for September 30, 2021 and September 30, 2020 excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:

	September 30, 2021		September 30, 2020
	(Unaudited)		(Unaudited)
Class A Warrants (Exercise price - $1.25/share)		38,985,020		38,985,020
Class B Warrants (Exercise price - $1.50/share)		38,985,020		38,985,020
Class C Warrants (Exercise price - $1.75/share)		38,985,020		38,985,020
Class D Warrants (Exercise price - $2.00/share)		38,985,020		38,985,020
Total		155,940,080		155,940,080

Income Taxes

(F) Income Taxes

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Property and Equipment

(G) Property and Equipment

Property and equipment is recorded at cost and depreciated or amortized using the straight-line method over the estimated useful life of the asset or the underlying lease term for leasehold improvements, whichever is shorter onset the property and equipment is put into service.

Revenue Recognition

(H) Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”. The standard states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

The Company generates revenue operating a delicatessen. Revenues from the operations of Company-owned delicatessen are recognized when sales occur.

Fair Value of Financial Instruments

(I) Fair Value of Financial Instruments

The Company measures its financial assets and liabilities in accordance with GAAP. For certain of our financial instruments, including cash, accounts payable, and the short-term portion of long-term debt, the carrying amounts approximate fair value due to their short maturities.

We adopted accounting guidance for financial and non-financial assets and liabilities (ASC 820). The adoption did not have a material impact on our results of operations, financial position or liquidity. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

● Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

● Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

● Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.

Concentrations

(J) Concentrations

The Company maintains various bank accounts at one bank, which, at times, may have balances that exceed federally insured limits. The Company believes it is not exposed to any significant credit risk on its cash balances and has not experienced any losses in such accounts. At September 30, 2021 and December 31, 2020, the Company had cash balances in excess of FDIC limits of $970,393 and $1,147,290, respectively.  

Recent Accounting Pronouncements

(K) Recent Accounting Pronouncements

All newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable.

Business Segments

(L) Business Segments

The Company operates in one segment and therefore segment information is not presented.

Inventories

(M) Inventories

Inventories consist of food and beverages, and are stated at cost. 

Advertising

(N) Advertising

Advertising costs are expensed as incurred. These costs are included in direct operating & occupancy expenses and totaled $1,956 and $96 for the nine months ended September 30, 2021 and 2020, respectively.

Advertising costs are expensed as incurred. These costs are included in direct operating & occupancy expenses and totaled $1,080 and $96 for the three months ended September 30, 2021 and 2020, respectively.

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Summary of Significant Accounting Policies and Organization (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Schedule of basic and diluted loss per share

	September 30, 2021		September 30, 2020
	(Unaudited)		(Unaudited)
Class A Warrants (Exercise price - $1.25/share)		38,985,020		38,985,020
Class B Warrants (Exercise price - $1.50/share)		38,985,020		38,985,020
Class C Warrants (Exercise price - $1.75/share)		38,985,020		38,985,020
Class D Warrants (Exercise price - $2.00/share)		38,985,020		38,985,020
Total		155,940,080		155,940,080

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Leasehold Improvement and Equipment (Tables)

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

Schedule of leasehold improvement and equipment

	September 30,			December 31,
	2021			2020
	(Unaudited)
Leasehold Improvements		33,455			33,455
Equipment		3,120			3,120
Leasehold Improvements and Equipment		36,575			36,575
Less: Accumulated Depreciation		(36,543	)		(36,338	)
Leasehold Improvements and Equipment, Net	$	32		$	237

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Stockholders’ Equity (Tables)

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Schedule of no warrant

	Number of Warrants		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)
Balance, December 31, 2020		155,940,080		1.625		14.25
Granted		-		-		-
Exercised		-		-		-
Cancelled/Forfeited		-		-		-
Balance, September 30, 2021 (Unaudited)		155,940,080	$	1.625		13.51
Intrinsic Value	$	1,890,773,470		-		-

Schedule of warrants outstanding

Exercise Price Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
$	1.25		38,985,020		13.51	$	487,312,750
$	1.50		38,985,020		13.51	$	477,566,495
$	1.75		38,985,020		13.51	$	467,820,240
$	2.00		38,985,020		13.51	$	458,073,985

Exercise Price Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
$	1.25		38,985,020		14.25	$	467,820,240
$	1.50		38,985,020		14.25	$	458,073,985
$	1.75		38,985,020		14.25	$	448,327,730
$	2.00		38,985,020		14.25	$	438,581,475

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Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of balance sheet information related to leases

Operating Leases
	September 30, 2021 (Unaudited)
Operating lease assets - right of use	$	9,596
Lease liability is summarized below:
Lease Liability	$	9,596
Less: operating lease liability, current		(5,278	)
Long term operating lease liability	$	4,318
Maturities of lease liabilities at September 30, 2021 are as follows:
2021	$	1,500
2022		6,000
2023		3,000
Total lease liability		10,500
Less: present value discount		(904	)
Total lease liability	$	9,596

Schedule of supplemental disclosures of cash flow information related to leases

	For the nine months ended September 30, 2021		For the nine months ended September 30, 2020
	(Unaudited)		(Unaudited)
Cash paid for operating lease liabilities	$	4,500	$	4,500

	For the nine months ended September 30, 2021		For the nine months ended September 30, 2020
	(Unaudited)		(Unaudited)
Operating lease asset obtained for operating lease liability upon remeasurement	$	10,569	$	-

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Summary of Significant Accounting Policies and Organization (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	May 29, 2014	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	May 12, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies and Organization (Details) [Line Items]
Cash balances in excess of FDIC		$ 970,393		$ 970,393			$ 1,147,290
Advertising expense		$ 1,080	$ 96
Business Combination [Member]
Summary of Significant Accounting Policies and Organization (Details) [Line Items]
Voting percentage						77.00%
Direct Operating & Occupancy Expenses [Member]
Summary of Significant Accounting Policies and Organization (Details) [Line Items]
Advertising expense				$ 1,956	$ 96
Your Hometown Deli, LLC [Member]
Summary of Significant Accounting Policies and Organization (Details) [Line Items]
Stock issued in connection with intangible assets (in Shares)	5,000,000

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Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share - shares	Sep. 30, 2021	Sep. 30, 2020
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share [Line Items]
Total	155,940,080	155,940,080
Class A Warrants [Member]
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share [Line Items]
Total	38,985,020	38,985,020
Class B Warrants [Member]
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share [Line Items]
Total	38,985,020	38,985,020
Class C Warrants [Member]
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share [Line Items]
Total	38,985,020	38,985,020
Class D Warrants [Member]
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share [Line Items]
Total	38,985,020	38,985,020

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Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share (Parentheticals)	Sep. 30, 2021 $ / shares
Class A Warrants [Member]
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share (Parentheticals) [Line Items]
Warrants exercise price	$ 1.25
Class B Warrants [Member]
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share (Parentheticals) [Line Items]
Warrants exercise price	1.5
Class C Warrants [Member]
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share (Parentheticals) [Line Items]
Warrants exercise price	1.75
Class D Warrants [Member]
Summary of Significant Accounting Policies and Organization (Details) - Schedule of basic and diluted loss per share (Parentheticals) [Line Items]
Warrants exercise price	$ 2

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Leasehold Improvement and Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 54	$ 1,805	$ 205	$ 5,428

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Leasehold Improvement and Equipment (Details) - Schedule of leasehold improvement and equipment - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Leasehold Improvements and Equipment	$ 36,575	$ 36,575
Less: Accumulated Depreciation	(36,543)	(36,338)
Leasehold Improvements and Equipment, Net	32	237
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Leasehold Improvements and Equipment	33,455	33,455
Equipment [Member]
Property, Plant and Equipment [Line Items]
Leasehold Improvements and Equipment	$ 3,120	$ 3,120

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Notes Receivable – Related Parties (Details) - USD ($)					1 Months Ended
	May 12, 2021	Apr. 14, 2021	Mar. 01, 2021	Feb. 12, 2021	Nov. 25, 2020
Notes Receivable – Related Parties (Details) [Line Items]
Interest receivable	$ 2,250	$ 1,184	$ 2,250
Med Spa Vacations [Member]
Notes Receivable – Related Parties (Details) [Line Items]
Related party transaction amount				$ 150,000
Interest rate				6.00%
Related party due date				Feb. 11, 2022
Interest receivable	$ 2,250
E-Waste Corp [Member]
Notes Receivable – Related Parties (Details) [Line Items]
Related party transaction amount					$ 150,000
Interest rate					6.00%
Related party due date					Nov. 25, 2021
Interest receivable		$ 1,184

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Note Payable – Related Party (Details) - USD ($)					1 Months Ended				9 Months Ended		12 Months Ended
	May 12, 2021	Apr. 14, 2021	Mar. 01, 2021	Feb. 13, 2020	Apr. 24, 2020	Mar. 18, 2020	Dec. 31, 2019	Oct. 16, 2014	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2019	Feb. 12, 2021
Note Payable – Related Party (Details) [Line Items]
Interest rate							8.00%				8.00%
Unsecured promissory note amount												$ 150,000
Converted shares of common stock (in Shares)						100,000
Interest receivable	$ 2,250	$ 1,184	$ 2,250
Related party amount									$ 4,993
Due on March 31, 2021 [Member]
Note Payable – Related Party (Details) [Line Items]
Note payable - related party						$ 50,000
Interest rate						8.00%
Accrued interest expense					$ 406
Due on February 13, 2021 [Member]
Note Payable – Related Party (Details) [Line Items]
Note payable - related party				$ 20,000
Interest rate				8.00%
Accrued interest expense					315
Due on December 31, 2020 [Member]
Note Payable – Related Party (Details) [Line Items]
Note payable - related party						$ 44,979
Interest rate							8.00%
Accrued interest expense					255
Principal amount of debt owed						$ 100,000	$ 10,000
Unsecured promissory note amount							$ 144,979				$ 144,979
Bearing interest							8.00%
Converted shares of common stock (in Shares)						100,000
Interest receivable					2,885
Accrued interest expense					768
Due on December 31, 2020 [Member] | Peter L. Coker, Jr [Member]
Note Payable – Related Party (Details) [Line Items]
Principle and accrued interest							$ 30,126				30,126
Due on June 30, 2020 [Member]
Note Payable – Related Party (Details) [Line Items]
Note payable - related party							$ 175,000				$ 175,000
Interest rate							8.00%
Accrued interest expense					$ 4,462
Unsecured Promissory Note [Member]
Note Payable – Related Party (Details) [Line Items]
Related party amount								$ 2,000

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Due to Former Officers (Details)	9 Months Ended
	Sep. 30, 2021 USD ($)
Due to Former Officers (Details) [Line Items]
Due to officers - related parties	$ 62,297
Officer [Member]
Due to Former Officers (Details) [Line Items]
Related party transaction, amounts of transaction	$ 1,000

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Due To Related Party (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Due To Officers [Abstract]
Corporate expense	$ 4,993	$ 3,452

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Stockholders’ Equity (Details)	1 Months Ended		3 Months Ended		9 Months Ended
	Apr. 30, 2020 USD ($) shares	Mar. 18, 2020 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2020 USD ($) shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2020 USD ($) shares	Dec. 31, 2020 $ / shares shares	Mar. 23, 2020 $ / shares shares
Stockholders’ Equity (Details) [Line Items]
Common stock, authorized (in Shares)			250,000,000		250,000,000		250,000,000
Common stock, par value (in Dollars per share) | $ / shares			$ 0.0001		$ 0.0001		$ 0.0001	$ 0.0001
Kind contribution of services | $					$ 51,571	$ 23,142
Repurchase of common stock (in Shares)		38,336
Number of shareholders		11
Purchase price (in Dollars per share) | $ / shares		$ 1
Common stock at an exercise price, description		the Board of Directors of the Company authorized the issuance of warrants to the shareholders of record as of the issuance date. As of such date, the Company was to issue each shareholder of record (i) five Class A Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.25 per share, (ii) five Class B Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.50 per share, (iii) five Class C Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $1.75 per share and (iv) five Class D Warrants entitling the holder thereof to purchase five shares of common stock at an exercise price of $2.00 per share, with each warrant expiring on March 31, 2035.
Issuance of warrants (in Shares)			155,940,080	155,940,080	155,940,080	155,940,080
Principal amount of debt | $		$ 100,000
Number of shares converted in to common stock (in Shares)		100,000
Minimum [Member]
Stockholders’ Equity (Details) [Line Items]
Common stock, authorized (in Shares)								100,000,000
Maximum [Member]
Stockholders’ Equity (Details) [Line Items]
Common stock, authorized (in Shares)								250,000,000
Class A Warrants [Member]
Stockholders’ Equity (Details) [Line Items]
Issuance of warrants (in Shares)			38,985,020	38,985,020	38,985,020	38,985,020
Class B Warrants [Member]
Stockholders’ Equity (Details) [Line Items]
Issuance of warrants (in Shares)			38,985,020	38,985,020	38,985,020	38,985,020
Class C Warrants [Member]
Stockholders’ Equity (Details) [Line Items]
Issuance of warrants (in Shares)			38,985,020	38,985,020	38,985,020	38,985,020
Class D Warrants [Member]
Stockholders’ Equity (Details) [Line Items]
Issuance of warrants (in Shares)			38,985,020	38,985,020	38,985,020	38,985,020
Vice President [Member]
Stockholders’ Equity (Details) [Line Items]
Kind contribution of services | $			$ 0	$ 7,714	$ 11,571	$ 23,142
Current President [Member]
Stockholders’ Equity (Details) [Line Items]
Kind contribution of services | $			$ 28,000	$ 0	$ 40,000	$ 0
Unrelated Party [Member]
Stockholders’ Equity (Details) [Line Items]
Shares of common stock sold, shares (in Shares)	663,750
Shares of common stock sold, shares | $	$ 663,750
Unrelated Party One [Member]
Stockholders’ Equity (Details) [Line Items]
Shares of common stock sold, shares (in Shares)	1,380,000
Shares of common stock sold, shares | $	$ 1,380,000
Unrelated Party Two [Member]
Stockholders’ Equity (Details) [Line Items]
Shares of common stock sold, shares (in Shares)	456,250
Shares of common stock sold, shares | $	$ 456,250

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Stockholders’ Equity (Details) - Schedule of no warrant	9 Months Ended
	Sep. 30, 2021 USD ($) $ / shares shares
Schedule of no warrant [Abstract]
Number of Warrants, beginning (in Shares) | shares	155,940,080
Weighted average exercise price, beginning	$ 1.625
Weighted average remaining contractual life (in years), Beginning	14 years 3 months
Number of Warrants, granted (in Shares) | shares
Weighted average exercise price, granted
Weighted average remaining contractual life (in years), granted
Number of Warrants, exercised (in Shares) | shares
Weighted average exercise price, exercised
Weighted average remaining contractual life (in years), exercised
Number of Warrants, cancelled/forfeited (in Shares) | shares
Weighted average exercise price, cancelled/forfeited
Weighted average remaining contractual life (in years), cancelled/forfeited
Number of Warrants, ending (in Shares) | shares	155,940,080
Weighted average exercise price, ending	$ 1.625
Weighted average remaining contractual life (in years), ending	13 years 6 months 3 days
Number of Warrants, intrinsic value (in Dollars) | $	$ 1,890,773,470
Weighted average exercise price, intrinsic Value (in Dollars) | $
Weighted average remaining contractual life (in years), intrinsic Value (in Dollars) | $

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Stockholders’ Equity (Details) - Schedule of warrants outstanding - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Exercise Prices One [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding, Exercise Price	$ 1.25	$ 1.25
Warrants Exercisable, Number Exercisable	38,985,020	38,985,020
Warrants Outstanding, Weighted - Average Remaining Contractual Life	13 years 6 months 3 days	14 years 3 months
Warrants Aggregate Intrinsic Value	$ 487,312,750	$ 467,820,240
Exercise Prices Two [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding, Exercise Price	$ 1.5	$ 1.5
Warrants Exercisable, Number Exercisable	38,985,020	38,985,020
Warrants Outstanding, Weighted - Average Remaining Contractual Life	13 years 6 months 3 days	14 years 3 months
Warrants Aggregate Intrinsic Value	$ 477,566,495	$ 458,073,985
Exercise Prices Three [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding, Exercise Price	$ 1.75	$ 1.75
Warrants Exercisable, Number Exercisable	38,985,020	38,985,020
Warrants Outstanding, Weighted - Average Remaining Contractual Life	13 years 6 months 3 days	14 years 3 months
Warrants Aggregate Intrinsic Value	$ 467,820,240	$ 448,327,730
Exercise Prices Four [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding, Exercise Price	$ 2	$ 2
Warrants Exercisable, Number Exercisable	38,985,020	38,985,020
Warrants Outstanding, Weighted - Average Remaining Contractual Life	13 years 6 months 3 days	14 years 3 months
Warrants Aggregate Intrinsic Value	$ 458,073,985	$ 438,581,475

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Commitments and Contingencies (Details) - USD ($)			1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 22, 2021	May 01, 2020	Apr. 26, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Aug. 12, 2019	Jul. 01, 2014
Commitments and Contingencies (Details) [Line Items]
Non-cancelable operating lease with a related party	$ 500							$ 500
Rent expense						$ 4,500	$ 4,500
Rate determined percent	10.00%
Initial present value	$ 10,569
Operating Lease Agreement [Member]
Commitments and Contingencies (Details) [Line Items]
Non-cancelable operating lease with a related party								$ 500	$ 500
Lease [Member]
Commitments and Contingencies (Details) [Line Items]
Rent expense				$ 1,500	$ 1,500	$ 4,500	$ 4,500
Tryon Capital Ventures LLC [Member]
Commitments and Contingencies (Details) [Line Items]
Consulting agreement fee per month		$ 15,000	$ 7,500
Ownership percentage		50.00%
VCH Limited [Member]
Commitments and Contingencies (Details) [Line Items]
Consulting agreement fee per month		$ 25,000
Ownership percentage		10.00%

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Commitments and Contingencies (Details) - Schedule of balance sheet information related to leases	9 Months Ended
	Sep. 30, 2021 USD ($)
Schedule of balance sheet information related to leases [Abstract]
Operating lease assets - right of use	$ 9,596
Lease liability is summarized below:
Lease Liability	9,596
Less: operating lease liability, current	(5,278)
Long term operating lease liability	4,318
Maturities of lease liabilities at September 30, 2021 are as follows:
2021	1,500
2022	6,000
2023	3,000
Total lease liability	10,500
Less: present value discount	(904)
Total lease liability	$ 9,596

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Commitments and Contingencies (Details) - Schedule of supplemental disclosures of cash flow information related to leases - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Schedule of supplemental disclosures of cash flow information related to leases [Abstract]
Cash paid for operating lease liabilities	$ 4,500	$ 4,500
Operating lease asset obtained for operating lease liability upon remeasurement	$ 10,569

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Related Party Transactions (Details) - USD ($)			1 Months Ended				3 Months Ended			9 Months Ended		12 Months Ended
	May 01, 2020	Feb. 13, 2020	Apr. 26, 2021	Mar. 18, 2020	Mar. 18, 2020	Dec. 31, 2019	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Nov. 25, 2021	May 12, 2021	Apr. 14, 2021	Mar. 22, 2021	Mar. 01, 2021	Feb. 12, 2021	Apr. 24, 2020	Aug. 12, 2019	Oct. 16, 2014	Jul. 01, 2014
Related Party Transactions (Details) [Line Items]
Non-cancelable operating lease with a related party																	$ 500				$ 500
Rent expenses										$ 4,500	$ 4,500
Kind contribution of services										51,571	23,142
Corporate expense reimbursements								$ 4,993				$ 3,452
Interest Rate						8.00%							8.00%
Due date													Dec. 31, 2020
Excess percentage	10.00%
Interest receivable															$ 2,250
Accrued interest Receivable															$ 2,250	$ 1,184
Unsecured promissory note																			$ 150,000
Peter L. Coker, Jr [Member]
Related Party Transactions (Details) [Line Items]
Due date													Dec. 31, 2020
Peter L. Coker, Jr [Member]
Related Party Transactions (Details) [Line Items]
Due date													Dec. 31, 2020
Debt Exchange Agreement [Member]
Related Party Transactions (Details) [Line Items]
Accrued Interest expense																				$ 2,885
Principal amount of debt owed					$ 100,000
Converted shares of common stock (in Shares)					100,000
Remaining principal balance owed				$ 44,979	$ 44,979
Unsecured Promissory Note [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party																						$ 2,000
Notes bearing interest rate																			6.00%
Interest receivable																$ 1,184		$ 2,250
Unsecured Promissory Note Two [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party						$ 175,000							$ 175,000
Interest Rate						8.00%
Accrued Interest expense																				4,462
Tryon Capital Ventures LLC [Member]
Related Party Transactions (Details) [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Consulting agreement fee per month	$ 15,000		$ 7,500
VCH Limited [Member]
Related Party Transactions (Details) [Line Items]
Equity Method Investment, Ownership Percentage	10.00%
Consulting agreement fee per month	$ 25,000
President [Member]
Related Party Transactions (Details) [Line Items]
Kind contribution of services							$ 0		$ 7,714		23,142
Vice President [Member]
Related Party Transactions (Details) [Line Items]
Kind contribution of services							0		7,714	11,571	23,142
Current President [Member]
Related Party Transactions (Details) [Line Items]
Kind contribution of services							28,000		$ 0	40,000	$ 0
Unsecured Promissory Note [Member]
Related Party Transactions (Details) [Line Items]
Officers paid an aggregate expenses										1,000
Balance due to officers							$ 62,297			$ 62,297
Board of Directors Chairman [Member]
Related Party Transactions (Details) [Line Items]
Due date													Sep. 30, 2020
Equity Method Investment, Ownership Percentage	50.00%
Board of Directors Chairman [Member] | Unsecured Promissory Note [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party						$ 10,000							$ 10,000
Interest Rate													8.00%
Accrued Interest expense																				255
Board of Directors Chairman [Member] | Unsecured Promissory Note One [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party						$ 175,000							$ 175,000
Accrued Interest expense																				4,462
Notes bearing interest rate						8.00%							8.00%
Board of Directors Chairman [Member] | Unsecured Promissory Note Two [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party						$ 30,126							$ 30,126
Accrued Interest expense																				768
Related Party Note Holder [Member] | Unsecured Promissory Note [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party						$ 144,979							$ 144,979
Interest Rate													8.00%
Chairman [Member] | Unsecured Promissory Note [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party				$ 50,000	$ 50,000
Accrued Interest expense																				406
Notes bearing interest rate				8.00%	8.00%
Due date		Feb. 13, 2021		Mar. 31, 2021
Chairman [Member] | Unsecured Promissory Note One [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party		$ 20,000
Accrued Interest expense																				$ 315
Notes bearing interest rate		8.00%
Forecast [Member] | Unsecured Promissory Note [Member]
Related Party Transactions (Details) [Line Items]
Note payable - related party														$ 150,000
Notes bearing interest rate														6.00%
Operating Lease Agreement [Member]
Related Party Transactions (Details) [Line Items]
Non-cancelable operating lease with a related party																							$ 500

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Liquidity (Details)	9 Months Ended
	Sep. 30, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash in operations	$ 322,620
Accumulated deficit	1,822,844
Net loss of liquidity	(384,568)
Cash on hand	1,222,934
Cash burn rate per month	$ 20,000