Epstein Secrets

ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV

EFTA00307431 AliphCom Common Stock Valuation 00000 As ofJune 20.2011 Income Approach 8) ClIANGE IN DEBT.FREE NET Vit)RKLM:CAFT FAL ('''DENSIC") DEN WC requirements were normalized to exclude execs cash. which was estimated based on three month of cash operating operates. Furthermore. DFNWC requireme

ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV

EFTA00307330 AliphCom Common Stock Valuation 00000 As ofJune 20.2011 Income Approach 8) ClIANGE IN DEBT.FREE NET Vit)RKLM:CAFT FAL ('''DENSIC") DEN WC requirements were normalized to exclude execs cash. which was estimated based on three month of cash operating operates. Furthermore. DFNWC requireme

ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV

EFTA00307229 AliphCom Common Stock Valuation 00000 As ofJune 20.2011 Income Approach 8) ClIANGE IN DEBT.FREE NET Vit)RKLM:CAFT FAL ('''DENSIC") DEN WC requirements were normalized to exclude execs cash. which was estimated based on three month of cash operating operates. Furthermore. DFNWC requireme