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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
r on dewy. ?Morals Mob*, sills sl.prodim prasocully n shr UndidStroh Chtu. Brant an, Sovirert IN convoy a !used in ubob..a.IlionA As or jumly M. MI. Muscat Moblny 116%060..104. (NYSE:MN1114014410 0,441.410,0* 04MMo04 $0114011% la SIX' Eut0144 Nib" Eff044/40 NYSE 19.001 1.00111.444 Vol Labs Mal Duna LTM S
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
r on dewy. ?Morals Mob*, sills sl.prodim prasocully n shr UndidStroh Chtu. Brant an, Sovirert IN convoy a !used in ubob..a.IlionA As or jumly M. MI. Muscat Moblny 116%060..104. (NYSE:MN1114014410 0,441.410,0* 04MMo04 $0114011% la SIX' Eut0144 Nib" Eff044/40 NYSE 19.001 1.00111.444 Vol Labs Mal Duna LTM S
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
r on dewy. ?Morals Mob*, sills sl.prodim prasocully n shr UndidStroh Chtu. Brant an, Sovirert IN convoy a !used in ubob..a.IlionA As or jumly M. MI. Muscat Moblny 116%060..104. (NYSE:MN1114014410 0,441.410,0* 04MMo04 $0114011% la SIX' Eut0144 Nib" Eff044/40 NYSE 19.001 1.00111.444 Vol Labs Mal Duna LTM S
Entities connected to both Rhode Island Street and Muscat Moblny
ALIPHCOM
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the Board of Directors
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ORGANIZATIONMichael Tamaru
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