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p.n.s min naS WIN • novsa ..tu Oren &shay iv itp• sampan.. or0soad r*v. steurtntestepotalm maw.. sisaTrionerat Me. Me *WMw tam, to sahistispne Walla fflaS PrAntlwagr.V 1004PaRilituparropretrom ANIS . Yl 5._sn Irv, *gm waa saveassao pig) I...Ml vosientsues (Sift (.1...0111.nemssao ( emi mlid0 wane's°. nacnou
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
p.n.s min naS WIN • novsa ..tu Oren &shay iv itp• sampan.. or0soad r*v. steurtntestepotalm maw.. sisaTrionerat Me. Me *WMw tam, to sahistispne Walla fflaS PrAntlwagr.V 1004PaRilituparropretrom ANIS . Yl 5._sn Irv, *gm waa saveassao pig) I...Ml vosientsues (Sift (.1...0111.nemssao ( emi mlid0 wane's°. nacnou
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
p.n.s min naS WIN • novsa ..tu Oren &shay iv itp• sampan.. or0soad r*v. steurtntestepotalm maw.. sisaTrionerat Me. Me *WMw tam, to sahistispne Walla fflaS PrAntlwagr.V 1004PaRilituparropretrom ANIS . Yl 5._sn Irv, *gm waa saveassao pig) I...Ml vosientsues (Sift (.1...0111.nemssao ( emi mlid0 wane's°. nacnou
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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