b'theirgrossannualincome(whicheverisgreater).Thisopensupanew audience for issuers who cant access enough accredited investors to fund their deals, and who already know a lot of non-accredited investors who would like to invest with them.BothTier1andTier2issuerscantestthewatersbyfloating advertising materials amongst the public to gauge interest prior to approval of the offering. This can help Regulation A+ issuers figure out what to offer, and to build a prospective list of interested investors prior to launch of the offering. Until the offering has been approved by the applicable regulators, however, Regulation A+ issuers cannot collect any money. Like Rule 506(c), Regulation A+ prohibits participation by certain bad actors. For more detailed information about Regulation A+, please go to our Book Bonus page at: https://RaiseCapitalForRealEstate.com/BookBonus Regulation A+, Tier 1 Regulation A+, Tier 1 is an amended version of the former Regulation A. Tier 1 issuers may now raise up to $20 million as opposed to the pre-JOBS Act $5 million limit. Tier 1 does not have any audit requirements. This is great if you are an issuer looking to save on audit and accounting costs, as audits can be expensive, but the tradeoff is that audits give investors peace of mind and a sense of transparency. As a Tier 1 issuer, you are still required to get federal and state pre-approval of the offering before your company is allowed to collect funds. This means that in order to sell its 66'