Common use of Sophisticated Investors Clause in Contracts

Sophisticated Investors. The Investors are sophisticated investors (as described in Rule 506(b)(2)(ii) of Regulation D) and a accredited investor (as defined in Rule 501 of Regulation D), and have such experience in business and financial matters that they are capable of evaluating the merits and risks of an investment in the Units. The Investors acknowledge that an investment in the Common Stock is speculative and involves a high degree of risk.

Sophisticated Investors. The Investors are sophisticated investors (as described in Rule 506(b)(2)(ii506(b)(2)(11) of Regulation D) and a accredited investor (as defined in Rule 501 of Regulation D), and have such experience in business and financial matters that they are capable of evaluating the merits and risks of an investment in the Units. The Investors acknowledge that an investment in the Common Stock is speculative and involves a high degree of risk.

Sophisticated Investors. The Investors are each sophisticated investors (as described in Rule 506(b)(2)(ii) of Regulation D) and a accredited investor investors (as defined in Rule 501 of Regulation D), and have each of the Investors has such experience in business and financial matters that they are it is capable of evaluating the merits and risks of an investment in the UnitsPreferred Stock and Warrants. The Investors acknowledge that an investment in the Common Preferred Stock and Warrants is speculative and involves a high degree of risk.

Sophisticated Investors. The Investors are sophisticated investors (as described in Rule 506(b)(2)(ii) of Regulation D) and a accredited investor (as defined in Rule 501 of Regulation D), and have such experience in business and financial matters that they are capable of evaluating the merits and risks of an investment in the UnitsCommon Shares. The Investors acknowledge that an investment in the Common Stock is speculative and involves a high degree of risk.

Sophisticated Investors. The Investors are each sophisticated investors (as described in Rule 506(b)(2)(ii) of Regulation D) and a accredited investor investors (as defined in Rule 501 of Regulation D), and have each of the Investors has such experience in business and financial matters that they are it is capable of evaluating the merits and risks of an investment in the UnitsPreferred Stock and Common Stock. The Investors acknowledge that an investment in the Preferred Stock and Common Stock is speculative and involves a high degree of risk.