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230 Requirements) CONFIDENTIAL I WTAS LLC EFTA00307397 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
OpMe < al op...1. 1 a own re. Reset 04~941 hoontr 41 19%490 1~ %no Caen Cam. %des i 4 < ..w000 • Salmi.; 5. %la 2 5.4.3.1,4 It .4.1%, Creme 9. ion uo, Op.. Maw ~ion 0,11.» .493 Sº41 Usiaahoe Labli UM( LIMP( Miltif Matil lidokiMO 1141.1.44s) MILIMal Ole". 441.4~.1 ~Pt (
230 Requirements) CONFIDENTIAL I WTAS LLC EFTA00307296 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
OpMe < al op...1. 1 a own re. Reset 04~941 hoontr 41 19%490 1~ %no Caen Cam. %des i 4 < ..w000 • Salmi.; 5. %la 2 5.4.3.1,4 It .4.1%, Creme 9. ion uo, Op.. Maw ~ion 0,11.» .493 Sº41 Usiaahoe Labli UM( LIMP( Miltif Matil lidokiMO 1141.1.44s) MILIMal Ole". 441.4~.1 ~Pt (
230 Requirements) CONFIDENTIAL I WTAS LLC EFTA00307195 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
OpMe < al op...1. 1 a own re. Reset 04~941 hoontr 41 19%490 1~ %no Caen Cam. %des i 4 < ..w000 • Salmi.; 5. %la 2 5.4.3.1,4 It .4.1%, Creme 9. ion uo, Op.. Maw ~ion 0,11.» .493 Sº41 Usiaahoe Labli UM( LIMP( Miltif Matil lidokiMO 1141.1.44s) MILIMal Ole". 441.4~.1 ~Pt (
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