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DEFINITIONS FOR NEXT QUESTION:
Definition of Accredited Investors:This commonly used term is defined as an individual that has made $200,000 or more on an annual basis for the past two out of three years and is likely to make that same amount this year. If it is a couple qualifying together that amount is raised to $300,000. If they do not meet the income requirements, they can qualify using a net worth of over $1 million excluding their primary residence. Definition of Sophisticated Investors:A sophisticated investor is defined as someone that has superior knowledge of business and financial matters, and who has sufficient experience and knowledge to weigh the risks and merits of an investment opportunity.