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): June 7, 2006
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))
Item 8.01 Other Event
On June 7, 2006, Capital Alliance Income Trust, Ltd. announced notice of
non-compliance with the American Stock Exchange listing requirement. A copy of
the press release is attached as Exhibit 99.1.
Exhibit 99.1 Press release dated June 7, 2006
Press Release
CAPITAL ALLIANCE INCOME TRUST LTD. RECEIVES NOTICE
OF NONCOMPLIANCE WITH AN AMEX LISTING REQUIREMENT
SAN FRANCISCO - (BUSINESS WIRE) - June 7, 2006 - Capital Alliance Income Trust
Ltd. ("CAIT") (AMEX:CAA-News) a residential mortgage REIT, has received notice
from the American Stock Exchange ("Exchange") of noncompliance with the
Exchange's continued listing standards due to CAIT's delay in filing Form 10-QSB
with the Securities and Exchange Commission for the three months ending March
31, 2006.
Richard Wrensen, CAIT's Executive Vice President and Chief Financial Officer
explained that the additional time required to reclassify and report CAIT's
taxable subsidiary, Capital Alliance Funding Corporation ("CAFC"), as an asset
held for disposal at year end December 31, 2005 had delayed the filing of CAIT's
Form 10-KSB and has caused the late filing of 2006's first quarter Form 10-QSB.
The Exchange has granted an extension until June 16, 2006 to file Form 10-QSB.
At this time CAIT's management expects Form 10-QSB to be filed on or before June
16, 2006.
CAIT is a specialty residential lender, which invests in conforming and high
yielding, non-conforming residential mortgage loans on one-to-four unit
residential properties located primarily in California. Only residential loans
with a combined loan-to-value of 75% or less are originated for CAIT's mortgage
investment portfolio. Due to the disposal of CAFC, unsold mortgages with a
loan-to-value greater than 75% may be transferred to CAIT.
This document contains "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, operations and liquidity may differ
materially from those anticipated in these forward-looking statements because of
changes in the level and composition of CAIT's investments and unseen 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 of fluctuations in interest rates and levels of mortgage payments,
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, EVP & 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: June 14, 2006 By: /s/ Richard Wrensen
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Richard J. Wrensen,
Chief Financial Officer