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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
Man:alamen Garant( Lol Intlabodm thlo.ht. Mottx.f.A AWna Ria Hm%9nmCmmmm,v nJ >kt"( Caipailann.•milrafilmtGo..../routtanvill»c hann and Mat< of Sinas< ~Mig («MIJ« Supe C•0044921 ltd.m131.9141~1 .c.eillu.4nnL PMS 1 n. 7. E tamst Matte/nl vlas 1.Ps 4.11. Ao94«01. m.m. oRNnM .11.1ankaria
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
Man:alamen Garant( Lol Intlabodm thlo.ht. Mottx.f.A AWna Ria Hm%9nmCmmmm,v nJ >kt"( Caipailann.•milrafilmtGo..../routtanvill»c hann and Mat< of Sinas< ~Mig («MIJ« Supe C•0044921 ltd.m131.9141~1 .c.eillu.4nnL PMS 1 n. 7. E tamst Matte/nl vlas 1.Ps 4.11. Ao94«01. m.m. oRNnM .11.1ankaria
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
Man:alamen Garant( Lol Intlabodm thlo.ht. Mottx.f.A AWna Ria Hm%9nmCmmmm,v nJ >kt"( Caipailann.•milrafilmtGo..../routtanvill»c hann and Mat< of Sinas< ~Mig («MIJ« Supe C•0044921 ltd.m131.9141~1 .c.eillu.4nnL PMS 1 n. 7. E tamst Matte/nl vlas 1.Ps 4.11. Ao94«01. m.m. oRNnM .11.1ankaria
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