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c., Long-Term Study 098o-1996r (Chapter 5) in Robert F. Reilly and Robert P. Schweihs, eds. The Handbook of Advanced Business Valuation (New York: McGraw-Hill, 2000). CONFIDENTIAL I WTAS LLC 94 EFTA00307489 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June so, 2011 • PMV Studyn. FMV conducte
estricted stocks of companies whose unrestricted shares are freely traded and (ii) studies of private transactions prior to initial public offerings el PO"). While both the restricted stock and pre-IPO studies have been used by appraisers to derive adjustments for lack of marketability, we believe tha
c., Long-Term Study 098o-1996r (Chapter 5) in Robert F. Reilly and Robert P. Schweihs, eds. The Handbook of Advanced Business Valuation (New York: McGraw-Hill, 2000). CONFIDENTIAL I WTAS LLC 94 EFTA00307388 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June so, 2011 • PMV Studyn. FMV conducte
estricted stocks of companies whose unrestricted shares are freely traded and (ii) studies of private transactions prior to initial public offerings el PO"). While both the restricted stock and pre-IPO studies have been used by appraisers to derive adjustments for lack of marketability, we believe tha
c., Long-Term Study 098o-1996r (Chapter 5) in Robert F. Reilly and Robert P. Schweihs, eds. The Handbook of Advanced Business Valuation (New York: McGraw-Hill, 2000). CONFIDENTIAL I WTAS LLC 94 EFTA00307287 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June so, 2011 • PMV Studyn. FMV conducte
estricted stocks of companies whose unrestricted shares are freely traded and (ii) studies of private transactions prior to initial public offerings el PO"). While both the restricted stock and pre-IPO studies have been used by appraisers to derive adjustments for lack of marketability, we believe tha
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