Such Purchaser has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the Company and the Shares;

such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of purchasing the Securities, including the risk that the Purchaser could lose the entire value of the Securities, and has so evaluated the merits and risks of such purchase;

HOLDER has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks of purchasing the Shares and is able to bear the economic risk of such investment, including a complete loss.

Experience of the Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated the merits and risks of such investment. The Purchaser can bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment.