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

tudy [Moroney Study $Maher Study [Trout Study [Standard Research Consultants Study [Silber Study [Management Planning, Inc. Study [FMV Study [Hertzel - Smith Study [ Johnson Study [ Average a Average Discount Median Discount 32.6% NA 33.0% 33.0% 35.6% 33.0% 35.4% 33.3% 33.5% NA NA 45.0% 33.8%

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

tudy [Moroney Study $Maher Study [Trout Study [Standard Research Consultants Study [Silber Study [Management Planning, Inc. Study [FMV Study [Hertzel - Smith Study [ Johnson Study [ Average a Average Discount Median Discount 32.6% NA 33.0% 33.0% 35.6% 33.0% 35.4% 33.3% 33.5% NA NA 45.0% 33.8%

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

tudy [Moroney Study $Maher Study [Trout Study [Standard Research Consultants Study [Silber Study [Management Planning, Inc. Study [FMV Study [Hertzel - Smith Study [ Johnson Study [ Average a Average Discount Median Discount 32.6% NA 33.0% 33.0% 35.6% 33.0% 35.4% 33.3% 33.5% NA NA 45.0% 33.8%