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Note: This material does not constitute an offer to sell nor is it a solicitation of an offer to buy any securities.
> ACCREDITED INVESTOR: Your individual income has been $200,000 or more in the past two years, and you have a reasonable expectation of reaching the same income level this year. OR Your joint income with your spouse has been $300,000 or more in the past two years, and you have a reasonable expectation of reaching the same income level this year. OR Your individual net worth (or joint net worth with your spouse) exceeds $1,000,000, excluding your primary residence.
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> SOPHISTICATED INVESTOR: You have sufficient knowledge and experience in financial and business matters to make you capable of evaluating the merits and risks of the prospective investment.