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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
1053 210.0 2719 2413 Tull' Fqiii, »IA 414.2 5014 »LI N., twit» C4fad 3128 »9.1 4133 167.1 Dac Pace NWC 3121 339.1 4133 117.1 ilisi.Tain Mix 011 00 0.0 00 1.9410(14 011 00 00 «0 T•A4 (WI 103.0 247.1 270.7 279.2 1,i( Nei 19AL »3 160 173 II. 1 74n Is lisfinniin if .49414
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
1053 210.0 2719 2413 Tull' Fqiii, »IA 414.2 5014 »LI N., twit» C4fad 3128 »9.1 4133 167.1 Dac Pace NWC 3121 339.1 4133 117.1 ilisi.Tain Mix 011 00 0.0 00 1.9410(14 011 00 00 «0 T•A4 (WI 103.0 247.1 270.7 279.2 1,i( Nei 19AL »3 160 173 II. 1 74n Is lisfinniin if .49414
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
1053 210.0 2719 2413 Tull' Fqiii, »IA 414.2 5014 »LI N., twit» C4fad 3128 »9.1 4133 167.1 Dac Pace NWC 3121 339.1 4133 117.1 ilisi.Tain Mix 011 00 0.0 00 1.9410(14 011 00 00 «0 T•A4 (WI 103.0 247.1 270.7 279.2 1,i( Nei 19AL »3 160 173 II. 1 74n Is lisfinniin if .49414
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