Epstein Secrets

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

915 5160,730 5173,557 5185,706 S196.848 ar % of manic 4.7% .18.5% .20.3% .35.1% •19.9% 0.8% 7.0% 14.7% MA% 20.0% 20.0% 20.0% 20.0% Reasonablenes, ['heck Guideline Company Indications Range 01% to 30.0% )4.Wsxn 13.8% A erase 12.6% 5) INCOME TAX EXPENSE. The elfective income tax late

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

915 5160,730 5173,557 5185,706 S196.848 ar % of manic 4.7% .18.5% .20.3% .35.1% •19.9% 0.8% 7.0% 14.7% MA% 20.0% 20.0% 20.0% 20.0% Reasonablenes, ['heck Guideline Company Indications Range 01% to 30.0% )4.Wsxn 13.8% A erase 12.6% 5) INCOME TAX EXPENSE. The elfective income tax late

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

915 5160,730 5173,557 5185,706 S196.848 ar % of manic 4.7% .18.5% .20.3% .35.1% •19.9% 0.8% 7.0% 14.7% MA% 20.0% 20.0% 20.0% 20.0% Reasonablenes, ['heck Guideline Company Indications Range 01% to 30.0% )4.Wsxn 13.8% A erase 12.6% 5) INCOME TAX EXPENSE. The elfective income tax late