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Exhibit 16-5
-Refer to the graph in the exhibit.What is the free market exchange rate?
Regulation A
Regulation A is an exemption from the registration requirements mandated by the SEC, allowing smaller companies to raise capital through the sale of equity or debt securities without having to adhere to traditional public offering rules.
Term Loans
Direct business loans of, typically, one to five years.
Private Debt
Loans and debt financing instruments that are not publicly traded, typically provided by private investors or non-bank financial entities.
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