(a) the individual investor has a net worth, or a joint net worth with such investor's spouse, at the time of purchase which exceeds One Million Dollars ($1,000,000); or
(b) the investor had individual income in excess of Two Hundred Thousand Dollars ($200,000) in each of the two (2) years preceding the date of such investor's subscription, or a joint income with such investor's spouse in excess of Three Hundred Thousand Dollars ($300,000) in each of those years, and reasonably expects to reach the same income level during the year of such investor's subscription