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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
f !III I/ 9754 3)6W /AO el 19 Or 36.14 foal Immo Mum.Coovabee OM 964 ci0.04.1104144 P.2642 Mos Ted 9711 Pk. Pictine4114441 00 Pin MIDAS, Immau 0.0 I t Caplol Valor 0.131.2 Loa Cul & Fiposlesia Camorlw Oahe MilduLD414 Doidool Vold Be. 12"MP Ba iS.yon 7 NA NMF NMF Asset Testot Y
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
f !III I/ 9754 3)6W /AO el 19 Or 36.14 foal Immo Mum.Coovabee OM 964 ci0.04.1104144 P.2642 Mos Ted 9711 Pk. Pictine4114441 00 Pin MIDAS, Immau 0.0 I t Caplol Valor 0.131.2 Loa Cul & Fiposlesia Camorlw Oahe MilduLD414 Doidool Vold Be. 12"MP Ba iS.yon 7 NA NMF NMF Asset Testot Y
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
f !III I/ 9754 3)6W /AO el 19 Or 36.14 foal Immo Mum.Coovabee OM 964 ci0.04.1104144 P.2642 Mos Ted 9711 Pk. Pictine4114441 00 Pin MIDAS, Immau 0.0 I t Caplol Valor 0.131.2 Loa Cul & Fiposlesia Camorlw Oahe MilduLD414 Doidool Vold Be. 12"MP Ba iS.yon 7 NA NMF NMF Asset Testot Y
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