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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
(huma Mbe %Art 18141Emuive 01678. hanta anil Clama etExceac Camese Dito«. Minai ateinhanaatut leehrap Comma 461Ftkerbef of Etuttwe Commune Dirent (aima et Ank kLkal ('toirra ad Nembet of Lucane Commue« La. 0rØ draina fl émos entama« & Nemneak ()mana. Maki cf dama Mamie .7rd Marte elronfeanekk leakrtip Manas M
2 mentions1 same-page
Page ?Same page
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
(huma Mbe %Art 18141Emuive 01678. hanta anil Clama etExceac Camese Dito«. Minai ateinhanaatut leehrap Comma 461Ftkerbef of Etuttwe Commune Dirent (aima et Ank kLkal ('toirra ad Nembet of Lucane Commue« La. 0rØ draina fl émos entama« & Nemneak ()mana. Maki cf dama Mamie .7rd Marte elronfeanekk leakrtip Manas M
2 mentions1 same-page
Page ?Same page
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
(huma Mbe %Art 18141Emuive 01678. hanta anil Clama etExceac Camese Dito«. Minai ateinhanaatut leehrap Comma 461Ftkerbef of Etuttwe Commune Dirent (aima et Ank kLkal ('toirra ad Nembet of Lucane Commue« La. 0rØ draina fl émos entama« & Nemneak ()mana. Maki cf dama Mamie .7rd Marte elronfeanekk leakrtip Manas M
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