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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
334. 11.1M P/IIN li tlICLIMEM row 'lemur (10$%I 004 1354%1 OPT 3.70 42. 122*. NA 17.20 NA 11.4% 1931113A 4%1.1% 113.0%1 (11}.1%) AVALLE! 19.90 663% IBM 2012% 134.0%1 0015%1 AVALLE! NA NA Taal Amos NA 1113%1 5.931 734% NA NA IIISIORICAL SEGMENT INFORMATION jo•%.414.14
296 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 20, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Al
334. 11.1M P/IIN li tlICLIMEM row 'lemur (10$%I 004 1354%1 OPT 3.70 42. 122*. NA 17.20 NA 11.4% 1931113A 4%1.1% 113.0%1 (11}.1%) AVALLE! 19.90 663% IBM 2012% 134.0%1 0015%1 AVALLE! NA NA Taal Amos NA 1113%1 5.931 734% NA NA IIISIORICAL SEGMENT INFORMATION jo•%.414.14
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
334. 11.1M P/IIN li tlICLIMEM row 'lemur (10$%I 004 1354%1 OPT 3.70 42. 122*. NA 17.20 NA 11.4% 1931113A 4%1.1% 113.0%1 (11}.1%) AVALLE! 19.90 663% IBM 2012% 134.0%1 0015%1 AVALLE! NA NA Taal Amos NA 1113%1 5.931 734% NA NA IIISIORICAL SEGMENT INFORMATION jo•%.414.14
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