UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): July 29, 2005
Commission File Number: 333-11625
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CAPITAL ALLIANCE INCOME TRUST LTD.,
A REAL ESTATE INVESTMENT TRUST
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(Exact name of registrant as specified in its charter)
Delaware 94-3240473
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(State or other Jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
100 Pine Street
Suite 2450
San Francisco, California 94111
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(Address of principal executive office) (zip code)
(415) 288-9575
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(Registrant's telephone number, including area code)
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 CRF
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CRF
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(d) under the Exchange
Act (17 CRF 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CRF 240.13e-4(c))
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Item 8.01 Other Event
On July 29, 2005, Capital Alliance Income Trust, Ltd. announced its new
auditors. A copy of the press release is attached as Exhibit 99.1.
Exhibit 99.1 Press release dated July 29, 2005.
Press Release
CAPITAL ALLIANCE INCOME TRUST LTD.
ANNOUNCES NEW AUDITORS
SAN FRANCISCO - (BUSINESS WIRE) - July 29, 2005 - Capital Alliance Income Trust
Ltd. ("CAIT") (AMEX: CAA-news) a residential mortgage REIT announced the
engagement of Rothstein, Kass and Company, P.C. ("Rothstein Kass") as their new
auditor. Rothstein Kass is a PCAOB registered accountant, with offices in New
Jersey, San Francisco, Beverly Hills, New York City, Dallas, Denver and the
Cayman Islands.
Rothstein Kass audits multiple publicly traded companies and has significant
experience with investment companies as well as companies requiring Section 404
Sarbanes-Oxley audit opinions. Rothstein Kass replaces the former accountants
who withdrew as CAIT's auditors to effect their complete cessation of auditing
services to SEC registrants. CAIT was the former auditor's only SEC-registered
client.
The Audit Committee noted that Rothstein Kass' expertise and its commitment to
auditing mid-size and smaller publicly owned companies satisfied the Committee's
two most important engagement conditions.
CAIT, a specialty residential lender invests in conforming and high-yielding,
non-conforming residential mortgage loans on one-to-four-unit-residential
properties located primarily in California and other western states. Only
residential loans with a combined loan-to-value of 75% or less are retained in
CAIT's portfolio of mortgage investments.
This document may contain "forward-looking statements" (within the meaning of
the Private Securities Litigation Reform Act of 1995) that inherently involve
risks and uncertainties. CAIT's actual results and liquidity can differ
materially from those anticipated in these forward-looking statements because of
changes in the level and composition of CAIT's investments and unforeseen
factors. As discussed in CAIT's filings with the Securities and Exchange
Commission, these factors may include, but are not limited to, changes in
general economic conditions, the availability of suitable investments,
fluctuations in and market expectations for fluctuations in interest rates and
levels of mortgage prepayments, deterioration in credit quality and ratings, the
effectiveness of risk management strategies, the impact of leverage, the
liquidity of secondary markets and credit markets, increases in costs and other
general competitive factors.
Contact: Capital Alliance Income Trust Ltd., San Francisco
Richard J. Wrensen, Executive Vice President and CFO, 415/288-9575
rwrensen@calliance.com
www.calliance.com
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SIGNATURES
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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.
CAPITAL ALLIANCE INCOME TRUST, LTD.,
A Real Estate Investment Trust
Dated: August 2, 2005 By: /s/ Richard Wrensen
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Richard J. Wrensen,
Chief Financial Officer