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2 S. 5473 00..1 5354 5315 (1231 0131 PLM) (MIN 19.71 16 328 14.9 21593 114 34 14,0 0541 OM d ni" M940 1951 ..h1Assets 531152 mi ONMIN I05.3 I:ndEwlV 3910 ‘te WningC4ryial 31241 na. Fr« NWC 3121 smrsTme 114a 00 00 2034 IfitE 343 Lam. 5633.1 57703 5773.4 210.0 2M9
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307490 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
2 S. 5473 00..1 5354 5315 (1231 0131 PLM) (MIN 19.71 16 328 14.9 21593 114 34 14,0 0541 OM d ni" M940 1951 ..h1Assets 531152 mi ONMIN I05.3 I:ndEwlV 3910 ‘te WningC4ryial 31241 na. Fr« NWC 3121 smrsTme 114a 00 00 2034 IfitE 343 Lam. 5633.1 57703 5773.4 210.0 2M9
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307389 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
2 S. 5473 00..1 5354 5315 (1231 0131 PLM) (MIN 19.71 16 328 14.9 21593 114 34 14,0 0541 OM d ni" M940 1951 ..h1Assets 531152 mi ONMIN I05.3 I:ndEwlV 3910 ‘te WningC4ryial 31241 na. Fr« NWC 3121 smrsTme 114a 00 00 2034 IfitE 343 Lam. 5633.1 57703 5773.4 210.0 2M9
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307288 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
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