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e S., "The Search for the Holy Grail, Getting Away from the t5-Minute Discount Determination," The Value Examiner, July/August 2004, (iii) Estate of McCord, 120 T.C. No. 13, May 2003, and (iv) Bajaj, Denis, Ferris, and Sarin, "Finn Value and Marketability Discounts," 27 J. Corp. Law 89, Fall 2001. CON
ear holding period. Therefore, hereafter, references to the FMV study refer only to those securities with a two-year holding period. CONFIDENTIAL i wras LLC 74 EFTA00307469 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of June 20, 2011 • Market Price Volatility. Companies with greater volatilit
e S., "The Search for the Holy Grail, Getting Away from the t5-Minute Discount Determination," The Value Examiner, July/August 2004, (iii) Estate of McCord, 120 T.C. No. 13, May 2003, and (iv) Bajaj, Denis, Ferris, and Sarin, "Finn Value and Marketability Discounts," 27 J. Corp. Law 89, Fall 2001. CON
ear holding period. Therefore, hereafter, references to the FMV study refer only to those securities with a two-year holding period. CONFIDENTIAL i wras LLC 74 EFTA00307368 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of June 20, 2011 • Market Price Volatility. Companies with greater volatilit
e S., "The Search for the Holy Grail, Getting Away from the t5-Minute Discount Determination," The Value Examiner, July/August 2004, (iii) Estate of McCord, 120 T.C. No. 13, May 2003, and (iv) Bajaj, Denis, Ferris, and Sarin, "Finn Value and Marketability Discounts," 27 J. Corp. Law 89, Fall 2001. CON
ear holding period. Therefore, hereafter, references to the FMV study refer only to those securities with a two-year holding period. CONFIDENTIAL i wras LLC 74 EFTA00307267 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of June 20, 2011 • Market Price Volatility. Companies with greater volatilit
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