Epstein Secrets

WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307294 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S

value for the Company's equity. Please see Exhibits F and G for further details related to our analysis utilizing the Income Approach. • PCMMM of the Market Approach. This methodology was considered as a reasonableness check in our analysis, but ultimately not relied upon due to differences between the Company an

WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307193 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S

value for the Company's equity. Please see Exhibits F and G for further details related to our analysis utilizing the Income Approach. • PCMMM of the Market Approach. This methodology was considered as a reasonableness check in our analysis, but ultimately not relied upon due to differences between the Company an

WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307395 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S

value for the Company's equity. Please see Exhibits F and G for further details related to our analysis utilizing the Income Approach. • PCMMM of the Market Approach. This methodology was considered as a reasonableness check in our analysis, but ultimately not relied upon due to differences between the Company an