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036000 0.17410 3.260 9456 Comma ccOrti 2.488.000 054000 007175 1.344 2.488 Ili)i Sa4.< Crimea ()maxis 13.726.269 $034993 16.551 11726 TotsCommon Options (lrms • HIM.) 34202.1111I Mlles 4 Imusbuicameagocc ps tro is docniultd lo teapftitnIntly1.7113 mbec 'gab, * InOtMote&53.924, 54 EFTA00307449 EXH
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307490 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
036000 0.17410 3.260 9456 Comma ccOrti 2.488.000 054000 007175 1.344 2.488 Ili)i Sa4.< Crimea ()maxis 13.726.269 $034993 16.551 11726 TotsCommon Options (lrms • HIM.) 34202.1111I Mlles 4 Imusbuicameagocc ps tro is docniultd lo teapftitnIntly1.7113 mbec 'gab, * InOtMote&53.924, 54 EFTA00307348 EXH
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307389 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
036000 0.17410 3.260 9456 Comma ccOrti 2.488.000 054000 007175 1.344 2.488 Ili)i Sa4.< Crimea ()maxis 13.726.269 $034993 16.551 11726 TotsCommon Options (lrms • HIM.) 34202.1111I Mlles 4 Imusbuicameagocc ps tro is docniultd lo teapftitnIntly1.7113 mbec 'gab, * InOtMote&53.924, 54 EFTA00307247 EXH
Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307288 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As o
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