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et, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Aliph" or the "Company") on a per share basis (the "Subject Interest") as of June 20, 2011 (the "Valuation Date"). We understand that our valuation of th
dMInt011..« nut Intaal haha asJ ChciAosamme Mitst Suler VIte PeoleMI .34 Wed0......k °padden 4 9~ Smet Vim Pecrulail d Riad boom 44.16446.1 11000 CoNtsaa. (bonte nd CluelOseash Oden La4Ineltpault46 Prosit. Cbs.......1Mtnnao. Capente (....shr.s. k ,,,,, ic .•. MAAN of AMIOnsrans9 Omes& Onwrnse Chwro
et, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Aliph" or the "Company") on a per share basis (the "Subject Interest") as of June 20, 2011 (the "Valuation Date"). We understand that our valuation of th
dMInt011..« nut Intaal haha asJ ChciAosamme Mitst Suler VIte PeoleMI .34 Wed0......k °padden 4 9~ Smet Vim Pecrulail d Riad boom 44.16446.1 11000 CoNtsaa. (bonte nd CluelOseash Oden La4Ineltpault46 Prosit. Cbs.......1Mtnnao. Capente (....shr.s. k ,,,,, ic .•. MAAN of AMIOnsrans9 Omes& Onwrnse Chwro
et, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Aliph" or the "Company") on a per share basis (the "Subject Interest") as of June 20, 2011 (the "Valuation Date"). We understand that our valuation of th
dMInt011..« nut Intaal haha asJ ChciAosamme Mitst Suler VIte PeoleMI .34 Wed0......k °padden 4 9~ Smet Vim Pecrulail d Riad boom 44.16446.1 11000 CoNtsaa. (bonte nd CluelOseash Oden La4Ineltpault46 Prosit. Cbs.......1Mtnnao. Capente (....shr.s. k ,,,,, ic .•. MAAN of AMIOnsrans9 Omes& Onwrnse Chwro
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