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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
tive easing, government stimulus programs, and a continually weak housing market Despite widespread agreement that the U.S. economy began to grow in late-2009, weak labor, retail, and housing markets in 2010 have caused the economic recovery to be slow. Furthermore, high household indebtedness is expecte
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
tive easing, government stimulus programs, and a continually weak housing market Despite widespread agreement that the U.S. economy began to grow in late-2009, weak labor, retail, and housing markets in 2010 have caused the economic recovery to be slow. Furthermore, high household indebtedness is expecte
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
tive easing, government stimulus programs, and a continually weak housing market Despite widespread agreement that the U.S. economy began to grow in late-2009, weak labor, retail, and housing markets in 2010 have caused the economic recovery to be slow. Furthermore, high household indebtedness is expecte
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