Epstein Secrets

397 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 20, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Al

cash flows for its capital owners. Any future sale or transaction is expected to be based on the Company's future cash flow expectations. As such, the Income Approach was the primary methodology used in arriving at a value for the Company's equity. Please see Exhibits F and G for further details related to our an

296 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 20, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Al

cash flows for its capital owners. Any future sale or transaction is expected to be based on the Company's future cash flow expectations. As such, the Income Approach was the primary methodology used in arriving at a value for the Company's equity. Please see Exhibits F and G for further details related to our an

195 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 20, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Al

cash flows for its capital owners. Any future sale or transaction is expected to be based on the Company's future cash flow expectations. As such, the Income Approach was the primary methodology used in arriving at a value for the Company's equity. Please see Exhibits F and G for further details related to our an