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

22.5% 1.119**Schole9. Pommel, IF lump—m..441r call option) ci.SiN(di) • Xe'T "N(s12) di — (1r4St/X)*(r +.5(42)(T4))/(9Cr•l)n ) Q — dn • v1~9r0 Put-Call Parity ~ DesgMtn Amount — c, • Si + XeCT" lapea (I) SS- Value of the Company's total equity 5286,500 (2) X- Value of the Company's total equity

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

22.5% 1.119**Schole9. Pommel, IF lump—m..441r call option) ci.SiN(di) • Xe'T "N(s12) di — (1r4St/X)*(r +.5(42)(T4))/(9Cr•l)n ) Q — dn • v1~9r0 Put-Call Parity ~ DesgMtn Amount — c, • Si + XeCT" lapea (I) SS- Value of the Company's total equity 5286,500 (2) X- Value of the Company's total equity

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

22.5% 1.119**Schole9. Pommel, IF lump—m..441r call option) ci.SiN(di) • Xe'T "N(s12) di — (1r4St/X)*(r +.5(42)(T4))/(9Cr•l)n ) Q — dn • v1~9r0 Put-Call Parity ~ DesgMtn Amount — c, • Si + XeCT" lapea (I) SS- Value of the Company's total equity 5286,500 (2) X- Value of the Company's total equity