American Housing Income Trust, Inc. (OTCMKTS:AHIT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement
Consulting Agreement with International Monetary, Inc.
On or about May 8, 2017, American Housing Income Trust, Inc. (the
Company), entered into a Consulting Agreement (Agreement) with
International Monetary, Inc., a California corporation
(International Monetary). The effective date of the Agreement is
April 17, 2017, though the Agreement was not fully executed and
returned to the Company until May 8, 2017. As such, the Company
did not deem the Agreement a reportable event until May 8, 2017.
The term of the Agreement is six (6) months from the effective
to the Agreement, International Monetary will provide a variety
of services to the Company, including, but not limited to,
corporate and management services; financial services;
shareholder relations and corporate communication services;
business development services; investor relations coordination
and services; and guidance to maximize shareholder value with a
concentrated focus on assisting with specific corporate
governance requirements for an up listing to a major listed
exchange. A full list of proposed services may be found under
Section 1 of the Agreement. In exchange for these services, the
Company will issue to International Monetary restricted shares of
common stock in an amount equal to two percent (2%) of the
Companys issued and outstanding common stock (the Stock
Compensation). The Stock Compensation shall be made in two
payments, one percent (1%) of the issued and outstanding stock as
of April 17, 2017 shall be issued upon the execution of the
Agreement, and the remaining one percent (1%) shall be issued
ninety (90) days thereafter.
In addition to the Stock Compensation, the Company will pay a
monthly cash management fee of $5,000 per month (the Management
Fee). The Management Fee will be made on the first of every month
for the duration of the Agreement.
Prior to the execution of the Agreement, there was no material
relationship between International Monetary and the Company, nor
International Monetary and any of the Companys affiliates. A copy
of the Agreement are attached hereto.
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SECTION 9 FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01. Financial Statements and Exhibits
|Incorporated by reference|
|Exhibit||Exhibit Description||Filed herewith||Form||Period ending||Exhibit||Filing date|
|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 0.720 with 100 shares trading hands.