Business Description
InnSuites Hospitality Trust (IHT), listed on the NYSE American exchange since 1971 and based in Phoenix, Arizona, owns and operates hotels under the InnSuites Hotels brand and has paid dividends to shareholders every year since its founding. The trust has roughly 12 million total shares and partnership units outstanding and is currently taxed as a corporation by the IRS. Looking to broaden its portfolio, IHT invested $1 million in UniGen, a startup developing efficient, liquid-cooled natural gas generators, receiving a convertible bond and 1.7 million warrants as part of the deal. UniGen has remained on schedule and within budget since beginning final engine design in January 2020, and has already secured orders for 30 units.
