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0, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 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 "Sub
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
0, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 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 "Sub
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
0, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 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 "Sub
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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