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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
1.6 lommemblaIdesiss.. lø phdas hee(sesi.e.dwin1 anl wdelia A 5w Oul csubk Ellvrø ~bnp hosSt941 aa.w 4.-hh•Lmmt.66.49. amlneconk simt*. 495 shunt, NETOFART pudams rWl tnabk Elbetnet tchverIng Ellxnhi macho. ~Ms coneolltrs. lam« smenty»pplysnots.ard ese~t(41.4ted shops It. 919MAL Ms<1. chislc honkend sc
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
1.6 lommemblaIdesiss.. lø phdas hee(sesi.e.dwin1 anl wdelia A 5w Oul csubk Ellvrø ~bnp hosSt941 aa.w 4.-hh•Lmmt.66.49. amlneconk simt*. 495 shunt, NETOFART pudams rWl tnabk Elbetnet tchverIng Ellxnhi macho. ~Ms coneolltrs. lam« smenty»pplysnots.ard ese~t(41.4ted shops It. 919MAL Ms<1. chislc honkend sc
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
1.6 lommemblaIdesiss.. lø phdas hee(sesi.e.dwin1 anl wdelia A 5w Oul csubk Ellvrø ~bnp hosSt941 aa.w 4.-hh•Lmmt.66.49. amlneconk simt*. 495 shunt, NETOFART pudams rWl tnabk Elbetnet tchverIng Ellxnhi macho. ~Ms coneolltrs. lam« smenty»pplysnots.ard ese~t(41.4ted shops It. 919MAL Ms<1. chislc honkend sc
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