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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
1091 Oa, 118> OS) Cush eta) Fleanow 153. 1201 104) OM Ckfte.W144. 41 Artsm. IA ter 04 16 Cmriul Etp.4.44.4. 1061 11.91 0133 1321 Lima Shot ISM ~I AVMS 5304 011.6 331 R .0 rust...M.44 HA 111 134 118 Toed 1.3.1., 189 17.1 112 13,8 Na Werlit8 C1109 122 10 54 L0 MN it« N
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
1091 Oa, 118> OS) Cush eta) Fleanow 153. 1201 104) OM Ckfte.W144. 41 Artsm. IA ter 04 16 Cmriul Etp.4.44.4. 1061 11.91 0133 1321 Lima Shot ISM ~I AVMS 5304 011.6 331 R .0 rust...M.44 HA 111 134 118 Toed 1.3.1., 189 17.1 112 13,8 Na Werlit8 C1109 122 10 54 L0 MN it« N
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
1091 Oa, 118> OS) Cush eta) Fleanow 153. 1201 104) OM Ckfte.W144. 41 Artsm. IA ter 04 16 Cmriul Etp.4.44.4. 1061 11.91 0133 1321 Lima Shot ISM ~I AVMS 5304 011.6 331 R .0 rust...M.44 HA 111 134 118 Toed 1.3.1., 189 17.1 112 13,8 Na Werlit8 C1109 122 10 54 L0 MN it« N
Entities connected to both Rhode Island Street and Lima Shot
ALIPHCOM
ORGANIZATION
the Board of Directors
ORGANIZATION
Michael Jackson
PERSONAH Capital Management
ORGANIZATIONSequoia Capital
ORGANIZATIONMichael Tamaru
PERSON
Mao Zedong
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Emory
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ORGANIZATIONJulie
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ORGANIZATION