Item 8.01. Other Events.

     On or about February 2, 2007, the board of directors of Nitches, Inc. (the "Company," "we," "our" or "us"), solicited the consent and ratification from our shareholders of the issuance of 600,000 shares (the "Shares") of our common stock to Taresha, LLC ("Taresha"). The Shares were issued to Taresha under the terms of the Asset Purchase and Sale Agreement entered into between us and Taresha as of July 1, 2006, pursuant to which we acquired substantially all of the assets related to Taresha’s Home Décor line of business in exchange for the Shares. We solicited the consent and ratification of the issuance of the Shares by written consent in lieu of a meeting of shareholders.

     To approve and ratify the issuance of the Shares, we had to obtain approval from shares representing a majority of the outstanding shares of our common stock entitled to vote, or 2,326,754 shares. As of February 27, 2007, we received consents representing (i) 2,327,776 shares approving and ratifying the issuance of the Shares, and (ii) 12,644 shares voting against the issuance of the Shares. Shareholders representing 336 shares abstained from voting. As such, the issuance of the Shares was approved and ratified by our shareholders effective as of February 27, 2007.

     As a result of obtaining such shareholder approval and ratification, the lock up agreement entered into between us and Taresha expired effective February 27, 2007. The lock up agreement restricted the transfer, voting and dividend rights of the Shares until such time, if ever, that we received shareholder approval for the issuance of the Shares.

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