IMPORTANT NOTICE: THIS IS A PRIVATE OFFERING. THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
AN INVESTMENT IN THE SECURITIES DESCRIBED HEREIN IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK. INVESTORS COULD LOSE ALL OR A SUBSTANTIAL PORTION OF THEIR INVESTMENT. THE SECURITIES ARE "ILLIQUID," MEANING THERE IS NO PUBLIC MARKET FOR THEM, AND INVESTORS MAY BE REQUIRED TO HOLD THEM FOR AN INDEFINITE PERIOD OF TIME.
TAX MATTERS: PROSPECTIVE INVESTORS ARE NOT TO CONSTRUE THE CONTENTS OF THIS DOCUMENT OR ANY PRIOR OR SUBSEQUENT COMMUNICATIONS FROM THE COMPANY OR ITS AFFILIATES AS LEGAL, TAX, OR INVESTMENT ADVICE. EACH INVESTOR SHOULD CONSULT THEIR OWN COUNSEL, ACCOUNTANT, AND OTHER PROFESSIONAL ADVISORS AS TO LEGAL, TAX, AND OTHER MATTERS CONCERNING AN INVESTMENT IN THE COMPANY.