Epstein Secrets

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t

5 EFTA00307490 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As of June 20, 2011 96 EFTA00307491 WTAS wtas.com Petra N. Loer Managing Director— San Francisco Email: Office: 415.764.2740 Fax: 415.762.7534 Education: • UC Berkeley. BS (Business Administration, Global T

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t

5 EFTA00307389 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As of June 20, 2011 96 EFTA00307390 WTAS wtas.com Petra N. Loer Managing Director— San Francisco Email: Office: 415.764.2740 Fax: 415.762.7534 Education: • UC Berkeley. BS (Business Administration, Global T

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t

5 EFTA00307288 APPENDIX 3 Appraisers' Qualifications ALIPHCOM — COMMON EQUITY VALUATION As of June 20, 2011 96 EFTA00307289 WTAS wtas.com Petra N. Loer Managing Director— San Francisco Email: Office: 415.764.2740 Fax: 415.762.7534 Education: • UC Berkeley. BS (Business Administration, Global T