The Securities and Exchange Commission (SEC) determines how an investor qualifies to be an accredited investor. At least one of the following must be met in order to be considered an accredited investor:

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• Net Worth: Have individual net worth, or joint net worth with spouse, that exceeds $1 million (excluding the value of primary residence).

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• Individual Income: Have individual income exceeding $200,000, in each of the past two years and expect to reach the same this year.

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• Joint Income: Have combined income with spouse exceeding $300,000, in each of the past two years and expect to reach the same this year.

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• Business: Invest on behalf of a business or investment company with more than $5 million in assets and/or all the equity owners are accredited.

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