Epstein Secrets

0 0.34000 003971 36 100 Comemn isorrom 50=0 0.51000 002978 27 50 HO Rae Comma &moots 506298 5,027927 5253 907 ZOtSonte Wcieltal SOX Comecon ovum 705.737 1400500 5080031 SI 706 Comermcopoun - 000550 4102000 0 Commmoptions 1491.705 003000 040913 105 3.492 Commco <soon. 251

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

0 0.34000 003971 36 100 Comemn isorrom 50=0 0.51000 002978 27 50 HO Rae Comma &moots 506298 5,027927 5253 907 ZOtSonte Wcieltal SOX Comecon ovum 705.737 1400500 5080031 SI 706 Comermcopoun - 000550 4102000 0 Commmoptions 1491.705 003000 040913 105 3.492 Commco <soon. 251

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

0 0.34000 003971 36 100 Comemn isorrom 50=0 0.51000 002978 27 50 HO Rae Comma &moots 506298 5,027927 5253 907 ZOtSonte Wcieltal SOX Comecon ovum 705.737 1400500 5080031 SI 706 Comermcopoun - 000550 4102000 0 Commmoptions 1491.705 003000 040913 105 3.492 Commco <soon. 251

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