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t voice messages to individual or group contacts (vs. traditional methods of texting and emailing). Furthermore, the Company expects to release its Armstrong activity band in July 2011, which will primarily target physically active urban adults. The Company's products received various accolades and awards
WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307294 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S
t voice messages to individual or group contacts (vs. traditional methods of texting and emailing). Furthermore, the Company expects to release its Armstrong activity band in July 2011, which will primarily target physically active urban adults. The Company's products received various accolades and awards
WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307193 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S
t voice messages to individual or group contacts (vs. traditional methods of texting and emailing). Furthermore, the Company expects to release its Armstrong activity band in July 2011, which will primarily target physically active urban adults. The Company's products received various accolades and awards
WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307395 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S
Entities connected to both Armstrong and ALIPHCOM

Jeffrey Epstein
PERSON
United States
LOCATIONLeon Black
PERSON
George W. Bush
PERSON
Scarlett Johansson
PERSON
Michael Jackson
PERSON
Eric Trump
PERSON
Donald Trump
PERSON
the Board of Directors
ORGANIZATION
Bloomberg L.P.
ORGANIZATION
Michael Douglas
PERSON
Federal Reserve
ORGANIZATIONRhode Island Street
ORGANIZATION
Samantha Power
PERSON
Joi Ito
PERSON
the Internal Revenue Service
ORGANIZATION
New York Stock Exchange
ORGANIZATION
Wilbur Ross
PERSON
Eric Holder
PERSONMary McCord
PERSON