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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
ctic4. 00~ dCspmOanCnnnlmeaa 31~ ef Aalt Cm/. n • Inc Sisenieni Reimer »Mai anpel7d EMT (Ana.. (%. Nei Imam D114•4419 PS 1.1117.) 1444949 Ceripsictiina49.4nd filwrili LT Ming. Ilex NA NA Triuma914449.4~ F44444.11(44.4(114, LIM i2å Ter F.admi Det(3141411 1/4941•2039 045, 31.74111 311,11 »11 3011
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
ctic4. 00~ dCspmOanCnnnlmeaa 31~ ef Aalt Cm/. n • Inc Sisenieni Reimer »Mai anpel7d EMT (Ana.. (%. Nei Imam D114•4419 PS 1.1117.) 1444949 Ceripsictiina49.4nd filwrili LT Ming. Ilex NA NA Triuma914449.4~ F44444.11(44.4(114, LIM i2å Ter F.admi Det(3141411 1/4941•2039 045, 31.74111 311,11 »11 3011
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
ctic4. 00~ dCspmOanCnnnlmeaa 31~ ef Aalt Cm/. n • Inc Sisenieni Reimer »Mai anpel7d EMT (Ana.. (%. Nei Imam D114•4419 PS 1.1117.) 1444949 Ceripsictiina49.4nd filwrili LT Ming. Ilex NA NA Triuma914449.4~ F44444.11(44.4(114, LIM i2å Ter F.admi Det(3141411 1/4941•2039 045, 31.74111 311,11 »11 3011
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