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<SEC-DOCUMENT>0000950123-10-055837.txt : 20100604
<SEC-HEADER>0000950123-10-055837.hdr.sgml : 20100604
<ACCEPTANCE-DATETIME>20100604122234
ACCESSION NUMBER:		0000950123-10-055837
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100521
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
FILED AS OF DATE:		20100604
DATE AS OF CHANGE:		20100604

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NETREIT
		CENTRAL INDEX KEY:			0001080657
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				330841255
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53673
		FILM NUMBER:		10878183

	BUSINESS ADDRESS:	
		STREET 1:		1282 PACIFIC OAKS PLACE
		CITY:			ESCONDIDO
		STATE:			CA
		ZIP:			92029-2900
		BUSINESS PHONE:		760-471-8536

	MAIL ADDRESS:	
		STREET 1:		1282 PACIFIC OAKS PLACE
		CITY:			ESCONDIDO
		STATE:			CA
		ZIP:			92029-2900
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>c02089e8vkza.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K/A</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<DIV style="font-size: 10pt">
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K/A</B><BR>
<FONT style="font-size: 10pt"><B>(Amendment No. 1)</B>
</FONT>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): May 21, 2010</B>

<P align="center" style="font-size: 24pt"><B>NetREIT<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>CALIFORNIA</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>000-53673</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>33-0841255</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>1282 Pacific Oaks Place<BR>Escondido, California <BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>92029</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(760) 471-8536</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>&nbsp;</B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">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:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Explanatory Note</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 5%">This amendment to the Current Report on Form 8-K filed with the Securities and Exchange
Commission filed on May&nbsp;27, 2010 (the &#147;Form&nbsp;8-K&#148;) by NetREIT (the &#147;Company&#148;) amends and restates
the Form 8-K to include (i)&nbsp;information unintentionally omitted, (ii)&nbsp;the results of the reconvened
meeting of the Company&#146;s shareholders held on May&nbsp;28, 2008 and (iii)&nbsp;corrects the item number of
such Form 8-K to reference Item&nbsp;5.07 instead of Item&nbsp;8.01.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;5.07. Submission of Matters to a Vote of Security Holders.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Annual Meeting of the Shareholders of NetREIT (the &#147;Company&#148;) was held on May&nbsp;21, 2010 (the
&#147;Annual Meeting&#148;). Of the 10,746,555 shares of common stock issued and outstanding and eligible
to vote as of the record date of March&nbsp;30, 2010, a quorum of 6,251,258&nbsp;million shares, or 58.17% of
the eligible shares, were present in person or represented by proxy. Of the 50,200 shares of
Series&nbsp;AA Preferred Stock issued and outstanding and eligible to vote as of the record date of
March&nbsp;30, 2010, 13,800 shares, or 27.5% of the eligible shares, were present in person or
represented by proxy. Because the number of shares of Series&nbsp;AA Preferred Stock present in person
or represented by proxy was less than a quorum of such class, the meeting was adjourned pursuant to
Proposal 5 with regards to Proposal 2 and Sub-Proposals 3A, 3E and 3I (summarized below), each of
which required the separate class vote of the holders of Series&nbsp;AA Preferred Stock, to be
recommenced at the Company&#146;s headquarters at 9:00 a.m. on May&nbsp;28, 2010. The meeting was
recommenced at 9:00 a.m. on May&nbsp;28, 2010 (the &#147;Recommenced Meeting&#148;), and a quorum of 31,800 shares
of Series&nbsp;AA Preferred Stock, or 63.35% of the eligible shares of Series&nbsp;AA Preferred Stock, were
present in person or represented by proxy.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The following actions were taken at the Annual Meeting and the Recommenced Meeting.
</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Proposal 1: Reelection of the following Directors of the Company.</DIV></TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="66%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Withheld</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Voted For</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Authority</B></TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William Allen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,144,831</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106,427</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">David Bruen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,142,889</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">108,370</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Larry G. Dubose</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,142,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">108,649</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jack K. Heilbron</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,143,164</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">108,095</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sumner J. Rollings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,148,401</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">102,857</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Thomas E. Schwartz</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,133,527</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">117,731</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bruce Staller</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,137,097</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">114,161</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Proposal 2: Approval of a change in the Company&#146;s state of incorporation from
California to Maryland by means of merger of the Company with and into a newly
formed, wholly owned subsidiary Maryland corporation (the &#147;Reincorporation&#148;). The
voting results were (i)&nbsp;6,022,562 shares of common stock voting for, 106,493 shares
of common stock voting against, and 122,203 shares of common stock abstaining, with
no broker non-votes and (ii)&nbsp;31,800 shares of Series&nbsp;AA Preferred Stock voting for,
no shares of Series&nbsp;AA Preferred Stock voting against, and no shares of Series&nbsp;AA
Preferred Stock abstaining.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3A)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3A: Approval of an amendment of the range of authorized Directors and
fixing the number of Directors at eight (8). The voting results were (i)&nbsp;6,028,207
shares of common stock voting for, 91,561 shares of common stock voting against, and
131,490 shares of common stock abstaining, with no broker non-votes and (ii)&nbsp;31,800
shares of Series&nbsp;AA Preferred Stock voting for, no shares of Series&nbsp;AA Preferred
Stock voting against, and no shares of Series&nbsp;AA Preferred Stock abstaining.</DIV></TD>
</TR>

</TABLE>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(3B)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3B: Approval of the grant of authority to the Board to adjust the
Company&#146;s quorum requirements. The voting results were 5,975,094 shares of common
stock voting for, 138,638 shares of common stock voting against, and 137,527 shares
of common stock abstaining, with no broker non-votes.
The approval of the Series&nbsp;AA Preferred Stock was not required for this Sub-Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3C)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3C: Approval of the grant of authority to the Board to amend the
Company&#146;s bylaws. The voting results were 5,900,779 shares of common stock voting
for, 198,142 shares of common stock voting against, and 152,337 shares of common
stock abstaining, with no broker non-votes. The approval of the Series&nbsp;AA Preferred
Stock was not required for this Sub-Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3D)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3D: Approval of changes to the Company&#146;s charter amendment provisions.
The voting results were 5,902,788 shares of common stock voting for, 186,722 shares
of common stock voting against, and 161,748 shares of common stock abstaining, with
no broker non-votes. The approval of the Series&nbsp;AA Preferred Stock was not required
for this Sub-Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3E)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3E: Approval of the modification of the director election rights of
the Series&nbsp;AA Preferred Stock. The voting results were (i)&nbsp;5,926,850 shares of
common stock voting for, 160,763 shares of common stock voting against, and 163,645
shares of common stock abstaining, with no broker non-votes and (ii)&nbsp;31,800 shares
of Series&nbsp;AA Preferred Stock voting for, no shares of Series&nbsp;AA Preferred Stock
voting against, and no shares of Series&nbsp;AA Preferred Stock abstaining.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3F)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3F: Approval of modification to restrictions on the transfer of the
Company&#146;s shares. The voting results were 5,930,099 shares of common stock voting
for, 144,460 shares of common stock voting against, and 176,700 shares of common
stock abstaining, with no broker non-votes. The approval of the Series&nbsp;AA Preferred
Stock was not required for this Sub-Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3G)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3G: Approval of the addition of certain shareholder nomination and
proposals requirements to the Company&#146;s charter. The voting results were 5,952,697
shares of common stock voting for, 137,818 shares of common stock voting against,
and 160,744 shares of common stock abstaining, with no broker non-votes. The
approval of the Series&nbsp;AA Preferred Stock was not required for this Sub-Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3H)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3H: Approval of the removal of the provisions of the Company&#146;s bylaws
pertaining to its Investment Policies and Advisory Contracts. The voting results
were 5,858,484 shares of common stock voting for, 201,655 shares of common stock
voting against, and 191,120 shares of common stock abstaining, with no broker
non-votes. The approval of the Series&nbsp;AA Preferred Stock was not required for this
Sub-Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3I)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3I: Approval of a change in the par value of the Company&#146;s stock. The
voting results were (i)&nbsp;5,881,090 shares of common stock voting for, 183,566 shares
of common stock voting against, and 186,603 shares of common stock abstaining, with
no broker non-votes and (ii)&nbsp;31,800 shares of Series&nbsp;AA Preferred Stock voting for,
no shares of Series&nbsp;AA Preferred Stock voting against, and no shares of Series&nbsp;AA
Preferred Stock abstaining.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3J)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3J: Approval of (a)&nbsp;the removal of the &#147;business combinations&#148;
provisions of the Company&#146;s bylaws, and (b)&nbsp;the Company&#146;s election to be subject to
the provisions of the Maryland Business Combination Statute. The voting results
were 5,922,983 shares of common stock voting for, 166,978 shares of common stock
voting against, and 161,298 shares of common stock abstaining, with no broker
non-votes. The approval of the Series&nbsp;AA Preferred Stock was not required for this
Sub-Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3K)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Sub-Proposal 3K: Approval of the removal of the Company&#146;s annual shareholder
meeting deadline. The voting results were 5,834,813 shares of common stock voting
for, 245,291 shares of common stock voting against, and 171,155 shares of common
stock abstaining, with no broker non-votes. The approval of the Series&nbsp;AA Preferred
Stock was not required for this Sub-Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Proposal 4: Ratification of the selection of Squar, Milner, Peterson, Miranda &#038;
Williamson, LLP to serve as the Company&#146;s independent auditors for the fiscal year
ending December&nbsp;31, 2010. The voting results were 6,025,502 shares of common stock
voting for, 75,128 shares of common stock voting against, and 150,629 shares of
common stock abstaining, with no broker non-votes. The approval of the Series&nbsp;AA
Preferred Stock was not required for this Proposal.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Proposal 5: Approval of the adjournment of the Annual Meeting, if deemed necessary,
to permit further solicitation of proxies, regardless of whether there are
sufficient shares represented at the meeting to constitute a quorum for transaction
of business. The voting results were 5,947,125 shares of common stock voting for,
147,406 shares of common stock voting against, and 156,728 shares of common stock
abstaining, with no broker non-votes. The approval of the Series&nbsp;AA Preferred Stock
was not required for this Proposal.</DIV></TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>SIGNATURES</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

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<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">NetREIT<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: June 4, 2010&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>/s/ Kenneth Elsberry</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Kenneth Elsberry&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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