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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
rd Melebtra lang du Matul Lautt/u /kun Weent e. Ithe STyrile.I. P.Hhirdscn. Idre M•ils. (toen k e.hani • 1.1 bureau. CuChcifsubne (Abn. boulne uil Manb. kS• 1e6 Y. taanden othainnaLeuGlielfsconne<lfa•inelMgralm 4114rdesuPlemerdCaninnx 01/11Inanod Meer CbutOperaansOffxit of Blad Leny 17Ilt CoSa
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
rd Melebtra lang du Matul Lautt/u /kun Weent e. Ithe STyrile.I. P.Hhirdscn. Idre M•ils. (toen k e.hani • 1.1 bureau. CuChcifsubne (Abn. boulne uil Manb. kS• 1e6 Y. taanden othainnaLeuGlielfsconne<lfa•inelMgralm 4114rdesuPlemerdCaninnx 01/11Inanod Meer CbutOperaansOffxit of Blad Leny 17Ilt CoSa
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
rd Melebtra lang du Matul Lautt/u /kun Weent e. Ithe STyrile.I. P.Hhirdscn. Idre M•ils. (toen k e.hani • 1.1 bureau. CuChcifsubne (Abn. boulne uil Manb. kS• 1e6 Y. taanden othainnaLeuGlielfsconne<lfa•inelMgralm 4114rdesuPlemerdCaninnx 01/11Inanod Meer CbutOperaansOffxit of Blad Leny 17Ilt CoSa
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