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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
ma 14A673 14.631.5 144014 15.1105 Gab Inta Immeg 1145921 (3.079.51 02441 11.147.3) Cale Mtn branatu C.155.91 1997.51 (12214/ 11.744.0) Otimmama .1 Amain 2.2593 25111 2.2363 2.174.3 Cape) I' troialut, bbnexis 1121221 1761.01 (9103/ 191751 44681 tuna A.M. 1553.992 1572119 5524613
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
ma 14A673 14.631.5 144014 15.1105 Gab Inta Immeg 1145921 (3.079.51 02441 11.147.3) Cale Mtn branatu C.155.91 1997.51 (12214/ 11.744.0) Otimmama .1 Amain 2.2593 25111 2.2363 2.174.3 Cape) I' troialut, bbnexis 1121221 1761.01 (9103/ 191751 44681 tuna A.M. 1553.992 1572119 5524613
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
ma 14A673 14.631.5 144014 15.1105 Gab Inta Immeg 1145921 (3.079.51 02441 11.147.3) Cale Mtn branatu C.155.91 1997.51 (12214/ 11.744.0) Otimmama .1 Amain 2.2593 25111 2.2363 2.174.3 Cape) I' troialut, bbnexis 1121221 1761.01 (9103/ 191751 44681 tuna A.M. 1553.992 1572119 5524613
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