Current Report Filing (8-k)
September 05 2017 - 4:57PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 24, 2017
INNSUITES
HOSPITALITY TRUST
(Exact
Name of Registrant as Specified in Charter)
Ohio
|
|
001-07062
|
|
34-6647590
|
(State
or Other Jurisdiction
of
Incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
InnSuites
Hotels Centre,
1625
E. Northern Avenue, Suite 105
|
|
|
Phoenix,
AZ
|
|
85020
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code
(602) 944-1500
Not
Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item
1.01
|
Enter
Into a Material Definitive Agreement
|
On
August 24, 2017, InnSuites Hospitality Trust (“IHT” or the “Trust”) entered into a Promissory Note Agreement
(the “Agreement”) with RepublicBankAz, N.A. for a $150,000 revolving line of credit with a maturity date August 24,
2018. Interest only payments are due monthly and the variable interest rate is 1.50% above the highest prime rate as published
in the Wall Street Journal. No prepayment penalty exists. Collateral on this loan is all inventory, equipment and accounts receivables
of the Trust.
The
foregoing description is not intended to be complete and is qualified in its entirety by reference to the full text of the Agreement,
which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item
2.03
|
Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
|
The
information set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.
Item
9.01
|
Financial
Statements and Exhibits.
|
10.1
|
Promissory
Note, dated August 24, 2017, executed by InnSuites Hospitality Trust as borrower, in favor of RepublicBankAz, N.A.
|
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 hereunto duly authorized.
|
InnSuites
Hospitality Trust
|
|
|
|
By
:
|
/s/
Adam B. Remis
|
|
|
Adam
B. Remis
|
|
|
Chief
Financial Officer
|
Date:
September 5, 2017
EXHIBIT
INDEX
Innsuites Hospitality (AMEX:IHT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Innsuites Hospitality (AMEX:IHT)
Historical Stock Chart
From Apr 2023 to Apr 2024