Investor Information
Accredited Investors
What Does Accredited Investor Mean?
- a bank, insurance company, registered investment company, business development company, or small business investment company;
- an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
- a charitable organization, corporation, or partnership with assets exceeding $5 million;
- a director, executive officer, or general partner of the company selling the securities;
- a business in which all the equity owners are accredited investors;
- a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase;
- a natural person with income exceeding $200,000 in each of the two most recent years or joint income income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or
- a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.
For more information visit www.sec.gov/answers/accred.htm
Non-Accredited Investors
What Does Non-Accredited Investor Mean?
An investor who does not meet the net worth requirements for an accredited investor under the Securities & Exchange Commission’s Regulation D. A non-accredited individual investor is one that has a net worth of less than $1 million (including spouse) and who has earned less than $200,000 annually ($300,000 with spouse) in the last two years. In order to participate in a drilling program, a purchaser who is not an accredited investor must either alone or with a purchaser representative(s) have such knowledge and experience in financial and business matters that he or she is capable of evaluating the merits and risks of the perspective investment.