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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
s $9.511.3 „erne Trader% dénis Pls. tout Os% 2459 1%. 644 08 Pls. PtcfmnISsul 00 1%. s Ikola 67 Pin Mituill, Intei 00 lcm Yeu 17 'mate Caplul Valse v017.2 14%CM Eyndltds 01 n1 Esteepdot Vagie 01, 1A4 fata 3730 .461.9 %Mid Mad111221111 Outille nef 0.1% %ta: mu /sa .S.,wo 1.13 Muet
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
s $9.511.3 „erne Trader% dénis Pls. tout Os% 2459 1%. 644 08 Pls. PtcfmnISsul 00 1%. s Ikola 67 Pin Mituill, Intei 00 lcm Yeu 17 'mate Caplul Valse v017.2 14%CM Eyndltds 01 n1 Esteepdot Vagie 01, 1A4 fata 3730 .461.9 %Mid Mad111221111 Outille nef 0.1% %ta: mu /sa .S.,wo 1.13 Muet
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
s $9.511.3 „erne Trader% dénis Pls. tout Os% 2459 1%. 644 08 Pls. PtcfmnISsul 00 1%. s Ikola 67 Pin Mituill, Intei 00 lcm Yeu 17 'mate Caplul Valse v017.2 14%CM Eyndltds 01 n1 Esteepdot Vagie 01, 1A4 fata 3730 .461.9 %Mid Mad111221111 Outille nef 0.1% %ta: mu /sa .S.,wo 1.13 Muet
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