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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
ia <ab A. Eanslak sL 110 Faerste Vat 511.017.4 taes 30•n-å tam elWal QUNle L04 mat 12011010 411911 42'3)11 hum" lidast, ~LTByn{kWt 461.6m Cartatachatitsitimi FIBB 111011 aka li tde.Rasi halai 1.411 »sa il ANA »sa 0 Aman Tafia Vagis ml Weel la Mot ho ha 84.1111111CMCI 115.1 MI) 141) 1.1581.3
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
ia <ab A. Eanslak sL 110 Faerste Vat 511.017.4 taes 30•n-å tam elWal QUNle L04 mat 12011010 411911 42'3)11 hum" lidast, ~LTByn{kWt 461.6m Cartatachatitsitimi FIBB 111011 aka li tde.Rasi halai 1.411 »sa il ANA »sa 0 Aman Tafia Vagis ml Weel la Mot ho ha 84.1111111CMCI 115.1 MI) 141) 1.1581.3
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
ia <ab A. Eanslak sL 110 Faerste Vat 511.017.4 taes 30•n-å tam elWal QUNle L04 mat 12011010 411911 42'3)11 hum" lidast, ~LTByn{kWt 461.6m Cartatachatitsitimi FIBB 111011 aka li tde.Rasi halai 1.411 »sa il ANA »sa 0 Aman Tafia Vagis ml Weel la Mot ho ha 84.1111111CMCI 115.1 MI) 141) 1.1581.3
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