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iemn.dgrIll bxn~antnall «MK& Piffent. sid ..MC” &ix». t ki °minty op., if. 4, int. miemeils. Vann& P.~16 sail 'Aka Coakitscen& Ile autpviii. Pained Penland( 4(9~4 nick& p:(40(49.17(C21. anli u na.9 4019.44146 ktii994(6 ,44414.4. 4..241.4% suvu1ia111 n.0 Web( ma. bealaci 2.4.4.440a kW, nu«, (Nay, N6. 4
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307490 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
iemn.dgrIll bxn~antnall «MK& Piffent. sid ..MC” &ix». t ki °minty op., if. 4, int. miemeils. Vann& P.~16 sail 'Aka Coakitscen& Ile autpviii. Pained Penland( 4(9~4 nick& p:(40(49.17(C21. anli u na.9 4019.44146 ktii994(6 ,44414.4. 4..241.4% suvu1ia111 n.0 Web( ma. bealaci 2.4.4.440a kW, nu«, (Nay, N6. 4
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307389 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
iemn.dgrIll bxn~antnall «MK& Piffent. sid ..MC” &ix». t ki °minty op., if. 4, int. miemeils. Vann& P.~16 sail 'Aka Coakitscen& Ile autpviii. Pained Penland( 4(9~4 nick& p:(40(49.17(C21. anli u na.9 4019.44146 ktii994(6 ,44414.4. 4..241.4% suvu1ia111 n.0 Web( ma. bealaci 2.4.4.440a kW, nu«, (Nay, N6. 4
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307288 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
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