IX Biotechnology, Inc entered into a stock exchange agreement to acquire American Housing Income Trust, Inc. (OTCPK:AHIT) in a reverse merger transaction on March 1, 2017. Under the terms, American Housing Income Trust will issue 10 million shares of its restricted common stock in exchange for all issued and outstanding stock of IX Biotechnology. As a result of the stock exchange agreement, American Housing Income Trust will become IX Biotechnology’s sole shareholder, making IX Biotechnology a wholly owned subsidiary of American Housing Income Trust. On March 1, 2017, Sean Zarinegar submitted his notice of resignation as Chairman of the Board and Officer to the Board of Directors of American Housing Income Trust, subject to closing of the transaction. Sean Zarinegar will remain on the American Housing Income Trust’s Board of Directors as a Director and a member of the Real Estate Committee. On March 7, 2017, Michael Ogburn, was appointed as Chairman of the Board of the Board of Directors, Chief Executive Officer/President, and Chief Financial Officer/Treasurer of American Housing Income Trust, subject to closing of the transaction. Brian Werner and Joaquin Flores were appointed to the Board of Directors of American Housing Income Trust on March 7, 2017, subject to the closing of the transaction. Les F. Gutierrez and Kenneth Hedrick, Board of Directors of American Housing Income Trust, were appointed to the Real Estate Committee on March 7, 2017. American Housing Income Trust's current single family residential portfolio will be managed by the Real Estate Committee, as a subcommittee to the Board of Directors. The transaction is subject to conditions including American Housing Income Trust’s formation of a real estate committee tasked with management of American Housing Income Trust’s real estate portfolio, appointment of Directors to serve on American Housing Income Trust’s real estate committee, the Board of Directors’ adoption of the second amended bylaws formalizing the governance of the real estate committee, IX Biotechnology’s redemption of all issued and outstanding IX Biotechnology Stock from its shareholders, IX Biotechnology’s Board of Directors execution and delivery of all required board resolutions to close the stock exchange agreement, American Housing Income Trust’s execution of all board resolutions necessary to execute the stock exchange agreement, American Housing Income Trust and IX Biotechnology performing due diligence review of each companies’ financials and further negotiations, execution of Board Approval of IX Biotechnology, adoption of amended article of Incorporation, opinion of legal opinion of IX Biotechnology, execution of non-competing agreement, production of confidential bad actor disqualification event statement of Michal Ogburn among other conditions. The transaction is unanimously approved by Board of Directors of American Housing Income Trust. In connection with the closing of the stock purchase agreement, American Housing Income Trust and IXB entered into a restrictive covenant agreement. American Housing Income Trust processed its company-related action notification form with the Financial Industry Regulatory Authority on March 1, 2017, which was approved on March 3, 2017. All the conditions precedent to the closing of the transaction were satisfied as of March 13, 2017. Paesano Akkashian, P.C. acted as legal advisor for American Housing Income Trust. IX Biotechnology, Inc completed the acquisition of American Housing Income Trust, Inc. (OTCPK:AHIT) on March 13, 2017.