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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
Date and discussions with management 47 Bloomberg and Capital IQ 33 Bloomberg and Capital IQ 10 The Articles and discussions with management mmon Stock Analysis • Capitalization table • Option and warrant detail Conversion rights, dividends, preferences, and voting rights Current value of underlying
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
Date and discussions with management 47 Bloomberg and Capital IQ 33 Bloomberg and Capital IQ 10 The Articles and discussions with management mmon Stock Analysis • Capitalization table • Option and warrant detail Conversion rights, dividends, preferences, and voting rights Current value of underlying
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
Date and discussions with management 47 Bloomberg and Capital IQ 33 Bloomberg and Capital IQ 10 The Articles and discussions with management mmon Stock Analysis • Capitalization table • Option and warrant detail Conversion rights, dividends, preferences, and voting rights Current value of underlying
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