American Housing Income Trust, Inc. (OTCMKTS:AHIT) Files An 8-K Entry into a Material Definitive Agreement

American Housing Income Trust, Inc. (OTCMKTS:AHIT) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01. Entry into a Material Definitive Agreement

Securities Purchase Agreement with FirstFire Global
Opportunities Fund, LLC

On April 17, 2017, American Housing Income Trust, Inc., (the
Company) entered into a Securities Purchase Agreement (Agreement)
with FirstFire Global Opportunities Fund, LLC, a Delaware limited
liability company (FirstFire). The effective date of the
Agreement is April 4, 2017, though the SPA and its related
agreements (as discussed below) were not executed until April 17,
2017. The Agreement outlines FirstFires purchase of a Senior
Convertible Promissory Note in the amount of $525,000 (the Note),
as well as the Companys issuance of a warrant to purchase 787,500
shares of the Companys common stock (the Warrant).

to the Agreement, FirstFire agrees to buy, and the Company agrees
to sell, the Note for $200,000. The principal sum of the Note is
$525,000, which amount is the $500,000 actual amount of the
purchase price (the Consideration) hereof plus a prorated 5%
original issue discount (the OID). The principal amount earns
interest at a rate of 2% per annum from the date of issuance
until the same becomes payable. FirstFire shall pay $210,000 of
the Consideration (the First Tranche) within a reasonable amount
of time after the execution of the Note. Additional payments (or
tranches) of the Consideration may be made thereafter by
FirstFire at FirstFires sole discretion. Each tranche payment
becomes due and owing six months after issuance. to the Note,
FirstFire has the right to convert all or any portion of the then
outstanding and unpaid principal amount of the Note and interest
into fully paid and non-assessable shares of the Companys common
stock, subject to several limitations outlined in Article I of
the Note.

In conjunction with the execution of the Agreement and the Note,
the Company entered into a Security Agreement (Security
Agreement) with FirstFire. to the Security Agreement, the
Companys obligations and indebtedness evidenced by the Note are
secured by the Companys collateral, including, but not limited
to, the Companys accounts, chattel paper, contracts, bank
accounts, inventory, permits, and other items of value. A
complete list of the collateral subject to the Security Agreement
is attached as Exhibit A to the Security Agreement, and is
incorporated herein by reference. Certain properties owned by the
Company are not included in the collateral, and are identified in
Exhibit B to the Security Agreement.

The Warrant entered into between the Company and FirstFire allows
FirstFire, subject to several limitations, to exercise the option
to purchase from the Company up to 1,050,000 shares of the
Companys common stock (Warrant Shares). The Warrant is issued by
the Company in connection with the Securities Purchase Agreement.
The number of Warrant Shares FirstFire may purchase correlates to
the funding of each tranche under the Note. At the time of the
Holders funding of each tranche under the Note, the Warrant
Shares outstanding shall immediately and automatically increase
by the quotient of the total amount of the respective tranche
funded, plus the applicable OID divided by $0.50. By way of
example, after FirstFires funding of the First Tranche, the
Warrant Shares shall initially equal 420,000 (or 210,000/.5). The
purchase price of the Warrant Shares is $0.50 per share, but may
be adjusted from time to time based on distribution of assets or
to protect against dilution, to Section 2 of the Warrant.

Prior to the execution of the SPA, Note, Security Agreement, and
other related agreements, there was no material relationship
between FirstFire and the Company, nor FirstFire and any of the
Companys affiliates. Copies of the SPA, Note, Warrant, and
Security Agreement are attached hereto.


Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Incorporated by reference
Exhibit Exhibit Description Filed herewith Form Period ending Exhibit Filing date
10.1 Securities Purchase Agreement X
10.2 Senior Secured Convertible Promissory Note X
10.3 Security Agreement X
10.4 Common Stock Purchase Warrant X
31.1 Board of Directors Consent X

About American Housing Income Trust, Inc. (OTCMKTS:AHIT)

American Housing Income Trust, Inc. is engaged in the business of acquiring and operating residential properties. The Company acquires, renovates, rehabilitates and, in turn, rents single-family residences. The Company invests in apartments, condominiums, and single-family residences, which are primarily located in the western United States (including Phoenix, Las Vegas, Tucson, and California). The Company also involves in leasing and sale of residential properties. The Company operates through related-party/affiliate entities in holding title to those single-family residences in its portfolio, including American Realty Partners, LLC (American Realty), ARP Borrower, LLC (ARP Borrower), ARP Borrower II, LLC and AHIT Valfre, LLP. It focuses on engaging in the business of purchasing real estate for the purpose of making cosmetic changes, repairs and enhancements, and then renting such properties to tenants. It holds title to over 46 residential properties in Arizona, Nevada and Texas.

American Housing Income Trust, Inc. (OTCMKTS:AHIT) Recent Trading Information

American Housing Income Trust, Inc. (OTCMKTS:AHIT) closed its last trading session 00.000 at 0.690 with 100 shares trading hands.

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