Accredited Investor / Sophisticated Investor
In order to receive the Swine Flu Financial Report, you must qualify as an Accredited Investor or as a Sophisticated Investor. If you don't qualify for any of the following, you may be granted access to some of the information listed on the report.
Accredited Investor
"Accredited Investor" shall mean any person who comes within any of the following categories, or who the Issuer reasonably believes comes within any of the following categories, at the time of the sale of the securities to that person:
- Any natural person with an income in excess of $200,000 in each of the two most recent years or joint income with a spouse in excess of $300,000 for those years and a reasonable expectation of the same income level in the current year;
- Natural persons with a net worth individually or jointly with spouse of at least $1 million;
Directors, executive officers, and general partners of the issuer;
- Any entity in which all the equity owners are accredited investors;
- Banks, insurance companies, registered investment companies, business development companies, or small business investment companies;
- Certain employee benefit plans for which investment decisions are made by a bank, insurance company, or registered investment adviser;
- Any employee benefit plan (within the meaning of Title I of the Employee Retirement Income Security Act) with total assets in excess of $5 million;
- Charitable organizations, corporations or partnerships with assets in excess of $5 million;
- Trusts with assets of at least $5 million, not formed to acquire the securities offered, and whose purchases are directed by a sophisticated person who either alone or with his purchaser representative has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the prospective investment.
Sophisticated Investor
Investors that meet the standards for participation in a non-public offering under Section 4(2) of the Securities Act of 1933, as amended, ("Act"), under Section 25102(f) of the California Corporate Securities Law of 1968, as amended, ("California Act"), and under the laws of other states.
These investors do not have to have the net worth or income of an Accredited Investor, but may invest in the same type offerings by qualifying under the "sophisticated investor" status.
The investor should be able to hold his investment for an indefinite period of time and have sufficient net worth to sustain a loss of his entire investment in the event such loss should occur.
The investor must have, either alone or with his purchaser representative, such knowledge and experience in financial and business matters that he/they is/are capable of evaluating the merits and risks of any investment contemplated.
The investor represents that he has made other investments of a similar nature to any contemplated now or in the future and, by reason of this business and financial experience and of the business and financial experience of those persons he has retained to advise him with respect to any investments contemplated now or in the future, has acquired the capacity to protect his own interest. He will carefully evaluate his financial resources and investment position and the risks associated with any investment and acknowledge that he is (will be at the time of investment) able to bear the economic risks of any contemplated investment now or in the future.
The investor represents that any contemplated investment will not exceed 20% of his net worth at the time of purchase (including home, furnishings, and automobiles).
