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

Date and discussions with management 47 Bloomberg and Capital IQ 33 Bloomberg and Capital IQ 10 The Articles and discussions with management mmon Stock Analysis • Capitalization table • Option and warrant detail Conversion rights, dividends, preferences, and voting rights Current value of underlying

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

Date and discussions with management 47 Bloomberg and Capital IQ 33 Bloomberg and Capital IQ 10 The Articles and discussions with management mmon Stock Analysis • Capitalization table • Option and warrant detail Conversion rights, dividends, preferences, and voting rights Current value of underlying

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

Date and discussions with management 47 Bloomberg and Capital IQ 33 Bloomberg and Capital IQ 10 The Articles and discussions with management mmon Stock Analysis • Capitalization table • Option and warrant detail Conversion rights, dividends, preferences, and voting rights Current value of underlying