PHOENIX, June 24, 2015 /PRNewswire/ -- American Housing Income Trust, Inc. ("AHIT" or the "Company") (OTC: AFFWD) today announced the completion of a 1-for-1,000 reverse stock split of issued shares of AHIT common stock. AHIT stock has begun trading on a split-adjusted basis on the OTC market under the new temporary Ticker Symbol AFFWD. AFFWD is an assigned temporary symbol by FINRA. In twenty business days, the symbol will be permanently changed to AHIT.
About American Housing Income Trust, Inc.
Through its wholly-owned subsidiary, American Realty Partners, LLC, the Company currently holds title to 34 residential properties. AHIT acquires, renovates, leases and manages primarily single-family residential properties, and engages in such other activities as are reasonably incidental to the foregoing. More specifically, AHIT intends on engaging in the business of purchasing real estate for the purpose of making cosmetic changes, repairs, and other enhancements in order to increase the value of the properties, and then rent such property to tenants. AHIT intends to take all the necessary steps to qualify as a real estate investment trust ("REIT") under the Internal Revenue Code, as amended, and pursuant to the applicable Maryland statutes. However, no assurance can be given that it will qualify or remain qualified as a REIT.
Forward Looking Statement
This press release contains forward looking statements. Although management believes that the assumptions underlying the forward looking statements included in this filing are reasonable, they do not guarantee our future performance, and actual results could differ from those contemplated by these forward looking statements. The assumptions used for purposes of the forward-looking statements specified in the following information represent estimates of future events and are subject to uncertainty as to possible changes in economic, legislative, industry, and other circumstances. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. In the light of these risks and uncertainties, there can be no assurance that the results and events contemplated by the forward-looking statements contained in this filing will in fact transpire. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. We do not undertake any obligation to update or revise any forward-looking statements. Please refer to AHIT's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") for the year ended January 31, 2015, and subsequently filed reports with the SEC for further information.
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34225 N. 27th Dr. Bldg 5, Suite 238
Phoenix, AZ 85085
SOURCE American Housing Income Trust, Inc