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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
leno Inas aa duirnix otiktwe Ibl ock al Ik dne0bry 4nd .3"1113•99m9bast of hpplaUlial• 444411Y 11.3.14301 Ilbe211011 ~Ploft Tk ~bb ~LOU. 444 •0111 BlukBab %weke. bles *nu punanig ilumb ckhd mrt len. mamenenaba. cuncts. afd ileml pub Jniasobabluauk Rogurdz In klmk..I.in.AdnM kurdul a 19M 0n16 Imuloanuel
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
leno Inas aa duirnix otiktwe Ibl ock al Ik dne0bry 4nd .3"1113•99m9bast of hpplaUlial• 444411Y 11.3.14301 Ilbe211011 ~Ploft Tk ~bb ~LOU. 444 •0111 BlukBab %weke. bles *nu punanig ilumb ckhd mrt len. mamenenaba. cuncts. afd ileml pub Jniasobabluauk Rogurdz In klmk..I.in.AdnM kurdul a 19M 0n16 Imuloanuel
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
leno Inas aa duirnix otiktwe Ibl ock al Ik dne0bry 4nd .3"1113•99m9bast of hpplaUlial• 444411Y 11.3.14301 Ilbe211011 ~Ploft Tk ~bb ~LOU. 444 •0111 BlukBab %weke. bles *nu punanig ilumb ckhd mrt len. mamenenaba. cuncts. afd ileml pub Jniasobabluauk Rogurdz In klmk..I.in.AdnM kurdul a 19M 0n16 Imuloanuel
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