Naomi Derner, Founder

Naomi Derner, CFA is the founder and managing director of Derner Valuation Consulting LLC in Portland, Oregon. Prior to 2008, she was a Vice President in the San Francisco office of Houlihan Lokey Howard and Zukin. Prior to joining Houlihan Lokey in 1999, Ms. Derner held positions as a senior analyst in the financial valuation services group at Arthur Andersen LLP, an associate in the equity research department of NationsBanc Montgomery Securities, and an analyst in the financial analysis unit at the Federal Reserve Bank of San Francisco. Ms. Derner holds the designation of Chartered Financial Analyst. She holds a Bachelor of Science degree in managerial economics from Carnegie Mellon University and a Master of Arts degree in economics from the University of California Santa Barbara. She is a member of the Oregon Entrepreneurs Network and Silicon Valley Fair Value Forum.

Max Fonarev is the Principal of Sorbus Advisors LLC with near 20 years of valuation and financial advisory experience including areas of financial reporting, strategic planning, and corporate development.

Prior to Sorbus Advisors, Mr. Fonarev held positions with Economic and Valuation Services and KPMG and Consulting at Armanino. His other experience includes Corporate Development at Ligand Pharmaceutical, Corporate Restructuring at Arthur Andersen and Institutional Equity Research and Wachovia Securities.

Mr. Fonarev received his MBA in Finance from the University of Southern California, Marshall School of Business. He holds B.S. and M.S. degrees in Applied Physics and Mathematics from the Moscow Institute of Physics and Technology. Mr. Fonarev is a Chartered Financial Analyst Charterholder (CFA).

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Max Fonarev, CFA

Derek Groff, Senior Manager

Derek is a Senior Manager with Frank, Rimerman’s Business Valuation Group where he specializes in business valuations for financial, strategic, tax and litigation purposes. He also assists clients in preparing companies for liquidity events and providing consulting/advisory services. Derek leads both Frank Rimerman’s Audit Review Practice and Alcohol Beverages Valuation Practice. Derek has 15 years of professional experience in investment banking, mergers and acquisitions and fundamental business valuation. His primary industry focuses are technology, life sciences, wineries and craft beer.

Prior to joining Frank, Rimerman + Co. LLP, Derek was a Director in the Corporate Development Group at Symantec Corporation where he worked closely with the CEO and CFO to acquire key companies and assets, create joint ventures, invest in small startups and help formulate M&A strategy. Prior to Symantec, he was an investment banker at UBS and Credit Suisse First Boston in their technology groups. Derek has been involved as a strategic advisor in over 30 equity, debt and M&A transactions totaling over $15 billion in transaction value. Derek graduated with Honors from the University of California at Santa Cruz and is currently in a Leadership and Management program at the University of California at Berkeley. He is an Accredited Senior Appraiser with the American Society of Appraisers and holds a Series 79 license from FINRA for Investment Banking services.

Glen Kernick

Glen Kernick is a managing director and City Leader of the Silicon Valley office, part of the Valuation AdvisoryServices business unit, and leader of the Technology Industry valuation practice. He has over 17 years ofvaluation and financial analysis experience.

Glen has performed valuations and financial analyses for a variety of purposes including financial reporting, tax,fairness opinions, litigation and strategic planning. Past and current clients range in size from private, earlystage companies to Fortune 50 public companies in the biotechnology, computer hardware, data storage,internet/e-commerce, medical device, networking equipment, semiconductor, software and telecommunicationsindustries.

Glen has led or been directly involved in performing more than 25 significant technology industry businesscombination purchase price allocation engagements with transaction values ranging from $1 to $25 billion,several multi-billion dollar goodwill impairment analyses, a number of notable private company stock valuationsfor clients that have completed the S-1 registration process, and provided expert witness testimony on thevaluation of early stage technology companies.

Glen joined Duff & Phelps in conjunction with the merger of Standard & Poor’s Corporate Value Consulting withDuff & Phelps. Prior to the merger, Glen performed valuation and financial advisory engagements for more thaneight years, starting as an associate with the Valuation Services Practice of Price Waterhouse, LLP, a director atPricewaterhouseCoopers, LLP and a managing director at Standard & Poor’s. Prior to beginning his career invaluation consulting with Price Waterhouse, Glen’s work experience included technology licensing at a majoruniversity and technology lending at a commercial bank.

Glen received his M.B.A. from the University of Washington and his B.A. in economics from the University ofCalifornia, San Diego. He is a candidate member of the American Society of Appraisers and member of theLicensing Executives Society’s Silicon Valley Chapter.

Duff & Phelps 1

Duff & Phelps, LLC

Managing Director, Valuation Advisory Services, Technology Industry Leader, Silicon Valley City Leader

Silicon Valley

+1 650 798 5573

Glen.Kernick@duffandphelps.com

Copyright © 2010 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu

Daniel A. Knappenberger, CFA, ASA Principal, Valuation Services Deloitte Transactions and Business Analytics LLP

Tel : +1 408 704 4558

Email : dknappenberger@deloitte.com

Office : 225 West Santa Clara Street San Jose, CA 95113

Profile Dan is the national sector leader of the Deloitte Financial Advisory Services LLP (“FAS”) technology practice and a principal with Deloitte Transactions & Business Analytics LLP (“DTBA”). Dan is also the Deloitte FAS Silicon Valley market leader. He has more than eighteen years of experience providing valuations in support of financial statement reporting, tax planning, M&A, and other strategic matters. He has managed and performed a variety of business advisory and valuation related projects to both domestic and global clients in a variety of industries. He has particular expertise in the valuation of business and equity interests as well as intellectual property including: technology, patents, software, research and development, brands and trade names, as well as customer relationships. Mr. Knappenberger has lectured and taught corporate finance and valuation theory at the graduate and undergraduate levels at various universities. He has also written and spoken throughout the United States on various valuation topics.

Experience • Mr. Knappenberger has performed several hundred valuations for U.S. GAAP including ASC 350, ASC 360, ASC 805, and ASC 820.

• Has worked with many of Deloitte’s PEI and venture funds in NY, Boston, and San Jose to develop equity valuation and allocation models.

• Has led integrated multidisciplinary valuation assignments which included fixed asset, real property, and intangible asset components.

• Worked on domestic and global valuation assignments that included complex tax and financial statement reporting issues.

• Worked as a strategic advisor to his clients on buy-side and sell-side M&A issues.

• Deloitte Transactions and Business Analytics LLP San Jose and Silicon Valley Market Leader.

• National leader of Deloitte’s United States technology industry valuation practice.

Professional Affiliations • CFA Institute, Chartered Financial Analyst® (CFA) charterholder

• American Society of Appraisers, Accredited Senior Appraiser (ASA)

Education • University of Notre Dame: B.A.

• University of San Francisco: M.B.A.

Myron Marcinkowski

Myron Marcinkowski is the City Leader and a Managing Director in the Atlanta office of Duff & Phelps, LLC. Myron is the Global Leader of Duff & Phelps’ Industrial Products, Consumer Products, and Retail Services

industries.

Myron has prepared numerous valuations for businesses, securities, and tangible/intangible assets for various purposes. He has been involved in valuations in regards to acquisitions, divestitures, minority interest buyouts, joint ventures, tax planning, financial reporting, bankruptcy, strategic studies, and litigation. Myron has negotiated transactions and appeared as an expert witness in various valuation situations. In addition, he has spoken and taught on the subject of valuation. Myron has also advised U.S. Senate Finance Committee, House Ways & Means Committee and Joint Committee on Taxation staff members on valuation and tax legislation matters.

Prior to Duff & Phelps, Myron was a managing director at Standard & Poor’s Corporate Value Consulting (CVC).

Prior to joining CVC, Myron was a partner with PricewaterhouseCoopers LLP for more than six years. He was formerly a financial analyst for AT&T-Division of Finance and a senior engineer at Sargent & Lundy Engineers.

Myron received his M.B.A. in finance and accounting from the University of Chicago Graduate School of Business and his B.S. in civil engineering from Northwestern University. He is also an accredited senior appraiser (ASA), a member of the American Society of Appraisers, and on the Undergraduate Admissions Interview Committee at Northwestern University. Myron is also a member of the Public Interest Valuation Quality Group: The Performance Standards Work Stream.

Duff & Phelps 1

Duff & Phelps, LLC

Managing Director, Valuation Advisory Services

Atlanta

+1 678 916 2525

Myron.Marcinkowski@duffandphelps.com

John McIntosh

Mr. McIntosh is a Director in Houlihan Lokey’s San Francisco office, where he works in FinancialAdvisory Services. He is responsible for business development in the technology industry and for providingtax and financial reporting (TFR) valuation services. He is also a member of the firm’s TFR TechnicalStandards Committee.

Mr. McIntosh has nearly two decades of experience managing financial opinion and valuationengagements for public companies and venture-capital-sponsored and private-equity-sponsored privatecompanies in several industries. His recent public company clients include Flextronics International Ltd.,Infoblox Inc., Ciena Corp., Integrated Device Technology, Inc., Silicon Image, Inc., Taleo Corp., CNETNetworks, Oracle Corp. and First Data Corp. He has worked with many international companies,including ACCESS Co. Ltd., Sumitomo Corp., Hitachi High-Technologies Corp., YamanouchiPharmaceutical Co., Celartem Technology Inc., Shogakukan, Viz Communications, Huawei TechnologiesCo. Ltd. and AsiaInfo Holdings Inc.

Before joining Houlihan Lokey, Mr. McIntosh was a senior manager in Ernst & Young’s transactionadvisory services practice in San Francisco, where he provided valuation advisory services to clients in thetechnology and financial services industries. Earlier, he was a consultant at Russell Miller, a nationalinsurance industry investment banking and financial advisory services firm.

Mr. McIntosh earned a B.S. in civil engineering and an MBA in finance and international business from theUniversity of Pittsburgh. He is a candidate member of the American Society of Appraisers.

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© Grant Thornton LLP. All rights reserved.

Massimo Messina Partner, California Market Leader – Valuation Services

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Massimo has more than 20 years of financial advisory and investment banking experience. He has extensive experience advising publicly traded and privately held corporate clients on the valuation and structuring of complex merger & acquisition transactions, alliances, partnerships and joint ventures, as well as minority investments to successfully integrate and address accounting, financial reporting, corporate finance, and valuation challenges. Massimo is a leading advisor on valuation principles, methodologies and critical assumptions employed in various business enterprise, intangible asset and security valuation exercises across a wide breadth of industries including entertainment and media, consumer and industrial products, technology, telecom, oil and gas, automotive, and transportation among others. Prior to joining Grant Thornton, Massimo was the Valuation Leader of PricewaterhouseCoopers’ Valuation Practice for the firm’s Central Region with offices in Chicago, Dallas and Houston. Before serving PwC, Massimo was a Vice President in the Mergers & Acquisition and Financial Advisory Services Group of Houlihan Lokey Howard & Zukin in San Francisco, CA.

Andrew Pappania, Principal

Andrew Pappania is a Principal of the US firm in the Transaction Services Practice concentrating in Valuation. Andrew performs valuations of business entities, and business interests. He has performed valuations of businesses, both domestic and international, ranging in size from small, closely held businesses to Fortune 50 companies. He has performed these appraisals for purposes such as reorganizations, acquisitions and divestitures, litigation support, purchase price allocations, for various tax purposes and management reporting.

Andrew has also extensive experience performing Intangible Asset valuations including but not limited to: Non-Compete Agreements, Customer base intangibles, Contracts, Trade Marks and Trade Names, Software, Technology, and Core Deposits. He currently leads PwC’s New York Office for valuation services.

He has valued entire businesses as well as Brands, Formulations and Recipes, Trade Marks / Trade Names, Distribution Agreements and Franchise Agreements. Currently his projects focus on with issues surrounding financial reporting requirements (ASC 718, 805, 350 & 360 and 460-10) and US tax requirements (IRC 338(h)10, IRC 382).

Prior to joining PwC in 2005, he spent nearly seven years performing valuations at other Big 4 firms. Prior to his work in financial valuation, Andrew spent five years in commercial banking where he was responsible for management reporting, comparative benchmarking and systems integration.

Andrew has an MBA in Finance from Fordham University, and a BA in Mathematics from the University of Pennsylvania. He was PwC’s representative at the Appraisal Issues Task Force in 2005 & 2006 and is currently a member of the American Society of Appraisers’ Business Valuation Committee’s Strategic Planning Group. He was recently appointed to The Appraisal Foundation’s Business Valuation Resource Panel.

2485 Huntington Drive, Suite 228 | San Marino, CA 91108(323) 229-9447 | Fax (949) 475-2580

Ray is a Managing Director in our Los Angeles office. He has over 30 years of financial valuation expertise and is a recognized leader in the valuation of businesses, securities interests, and intangible assets. Ray has performed valuation projects for financial (both U.S. GAAP and IFRS) and tax reporting, transactions, and litigation projects.

In addition to performing valuations, Ray has extensive experience in the review of third-party and management prepared valuations. During his tenure at PricewaterhouseCoopers LLP, he served as the valuation specialist for a large number of audit engagement teams. As a valuation specialist, Ray worked with management, third-party appraisers, and audit engagement teams to ensure the reasonableness of valuation conclusions and documentation of review processes.

Ray is extremely active in enhancing the quality of valuation practice both domestically and internationally. He has organized and moderated conferences for the American Society of Appraisers (ASA) on fair value issues including presentations by staff of the SEC, PCAOB, FASB, and IASB and has led efforts resulting in an education and certification program for an Intangible Assets valuation specialty designation.

Ray has a wealth of experience in a wide range of industries. In recent years, much of his work has focused on technology and Internet firms. Other industries where he has significant project expertise include consumer products, entertainment and media, food services, health care, and manufacturing, in addition to early stage, rapid growth firms.

Prior to joining Globalview Advisors in 2012, Ray was a Director in the Valuation Services Practice at PricewaterhouseCoopers LLP. He was also a Senior Manager in the Valuation Services Practice at KPMG LLP and KPMG Consulting, Inc., as well as a Manager at Arthur Andersen & Company.

Ray has testified in Federal Bankruptcy and Civil Courts on valuation matters, and has been named as an expert witness in numerous matters.

Ray received his MBA from the University of Southern California and his BS in Business Administration, cum laude, from the University of Kansas. He is an accredited senior Member of the American Society of Appraisers (ASA) in the business and intangible assets valuation disciplines as well as Appraisal Review and Management, and is also a Chartered Financial Analyst (CFA).

RAYMOND RATH, ASA, CFAManaging Director(323) 229-9447rrath@globalviewadvisors.com

www.hemming.com

H E M M I N GM O R S E, L L PCERTIFIED PUBLIC ACCOUNTANTS, FORENSIC AND FINANCIAL CONSULTANTS

San Mateo Office155 Bovet RoadSuite 600San Mateo, CA 94402Te l: 415.836.4000Fax: 415.777.2062

Carl S. Saba, MBA, CVA

CURRICULUM VITAE

Executive Summary

Carl Saba is a Partner in the Forensic and Financial Consulting Service Group at Hemming Morse, LLP. He is a recognized leader within the business valuation community, with over eighteen years of experience advising companies on complex valuation issues for litigation, mergers and acquisitions, tax, and financial reporting matters. His valuation expertise spans business valuation, valuation of intellectual property and other intangible assets, and valuation of options and other derivatives.

Carl has led in excess of 500 valuation engagements over the last ten years across a broad range of industries with niche expertise in the areas of Technology, Life Sciences, and Medical Device. He has assisted clients as a valuation expert in high exposure situations in initial public offerings, acquisitions, corporate restructure transac-tions, and bankruptcy reorganizations with transaction values exceeding $1 billion. He has also assisted clients with resolving valuation disputes with the Internal Revenue Service (IRS), and addressing valuation inquiries and reviews by the Public Companies Oversight Board (PCAOB), and Securities and Exchange Commission (SEC).

On litigation and forensic matters, Carl has served as an expert and testified on civil litigation issues including eco-nomic damages, breach of contract, fraud, and disputes over businesses and intellectual property. In most cases, he has been successful in contributing to a favorable award for clients and out of court settlement of the dispute.

Carl also has significant financial advisory experience in mergers and acquisitions due diligence and turnaround management. He has lead due diligence efforts that have assisted his clients in negotiating key deal terms, negoti-ated with creditors to recapitalize companies, and helped management teams define strategic direction.

Contributing to thought leadership within the valuation community is something Carl is passionate about. He co-founded and currently Chairs the Executive Committee of the Fair Value Forum, a business valuation expert group dedicated to defining best practices within the profession. He also served a term as President of the Valuation Roundtable of San Francisco, and continues several years as a board member. Carl has authored several articles on cutting edge valuation topics, and teaches and lectures on the topic frequently.

Carl has an MBA from the Marshall School of Business at the University of Southern California where he graduated with Honors. He earned his Bachelor’s degree at U.C. Berkeley’s Haas School of Business. He is a Certified Valua-tion Analyst with the National Association of Certified Valuators and Analysts.

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PricewaterhouseCoopers 1

Adam M Smith, Director • Adam is a Director with nearly 15 years of business valuation experience. He has performed or supervised

valuations of businesses, business interests, intangible assets, economic damages, derivatives, and lost profits. • Adam has prepared these valuations for a wide range of purposes including financial reporting, litigation support,

corporate planning and consulting, mergers and acquisitions, estate and gift tax reporting, and employee stock ownership plans.

• He has worked in many industries, but has extensive experience in the Entertainment, Media, and Communications, Technology, and Life Sciences industries.

• He is currently a practice fellow at the FASB, working on a variety of projects including Private Company Council proposals and post-implementation reviews.

Tel: (203) 956-3424 Email: amsmith@fasb.org

Peter Tan, Director

Peter Tan is a Director in the Capital Markets, Valuation and Accounting Advisory practice in San Francisco. In this capacity, Peter reviews and performs ASC 805/141R, ASC 350/FAS 142, and ASC 718/FAS 123R and portfolio valuations. Peter has more than a decade of valuation, corporate finance and capital markets experience. He has conducted close to 400 valuations on business enterprises, intangibles assets, debt instruments, and derivatives. Prior to joining PwC, Peter was a Vice President with Houlihan Lokey's San Francisco office, where his primary responsibilities included performing fairness opinions and valuations. As part of Houlihan Lokey's Technology Group, Peter was the firm's industry specialist on software and Internet. Peter’s valuation clients included the largest private and public software and Internet companies. In his capacity as industry specialist, Peter also reviewed all of the firm's fairness opinions, and large tax and financial reporting valuations in the software and Internet sector. Before joining Houlihan Lokey, Peter worked for Sempra Energy in corporate development and energy risk management, where he developed and implemented strategies to manage the risk of a $1 billion natural gas portfolio as a derivatives trader. Peter received his M.B.A from the Haas School of Business at UC Berkeley, and his B.A. in Business Economics from UCLA.

350 Cambridge Ave., Suite 300, Palo Alto, CA 94306 l 650.330.8800 l www.teknosassociates.com

Jim Timmins, ASA, MAFF Managing Director Teknos Associates jtimmins@teknosassociates.com www.teknosassociates.com 350 Cambridge Ave, Suite 300 Palo Alto, CA 94306 650.330.8801

Jim Timmins has spent more than 30 years supporting companies in Silicon Valley, as an investment banker, a venture capital investor, and an appraiser. Jim earned a MBA from Stanford in 1981 and spent the next nine years with Salomon Brothers and Hambrecht & Quist, helping companies with public market financings and merger and acquisition transactions. From 1990 to 2005, he was a partner in two venture capital firms, where he was invested in and/or sat on the board of directors of more than 20 companies, including Magellan, Mattson, OrCAD, Websense, and Zhone. Jim founded Teknos Associates in 2008 to provide business valuations for tax compliance, financial reporting, transaction support, and litigation. Teknos focuses on companies in technology-driven markets, most of which are backed by venture capital firms. More than a hundred client companies have completed high value sales or initial public offerings. In addition to supervising the production of reports to support stock option issuance, purchase price allocation, and similar matters, Jim has been retained as an expert witness by clients such as AmerisourceBergen, Flir Systems, Intel, Palo Alto Networks, Wells Fargo, and the Internal Revenue Service. Jim has earned the designations “Accredited Senior Appraiser” in both Business Valuation and Intangible Assets, from the American Society of Appraisers, and “Master Analyst in Financial Forensics” in Business and Intellectual Property Damages, from the National Association of Certified Valuators and Analysts.

Tim Tufer, Partner Deloitte & Touche LLP +1 415 783 4888 ttufer@deloitte.com M&A Transaction Services

Tim leads the Accounting and Finance aspects of our Silicon Valley M&A Transaction Services practice. Tim has over 30 years-experience with Deloitte and over 20 years’ experience supporting multinational businesses, SMBs, and private equity investors in navigating the challenges of complicated domestic and cross-border transactions. Tim has consulted on hundreds of transactions and has served as an M&A transaction services lead while resident in the United States, the Russian Federation, Japan, and Hong Kong. Tim has advised on numerous transactions in the software and related technology industries including transactions involving large enterprise-wide software solutions, specialty software solutions, semiconductor manufacturing, web-based travel services, telecommunications services, mobile telecommunications services, automotive technology, web sites, mobile content delivery models, and other technology related activities.

John Vanosdall, Partner

John Vanosdall is a Partner in PwC’s National Quality Organization in San Jose, California. John focuses on providing clients and engagement teams with advice on complex accounting issues arising from business combinations, disposal transactions, minority investments, fair value measurements, and revenue and compensation arrangements.

John recently completed a two-year fellowship in the Office of the Chief Accountant at the United States Securities and Exchange Commission in Washington, DC. In this role, John was responsible for monitoring the activities of domestic and international accounting standard setters and providing views on interpretative matters under US GAAP and IFRS.

Prior to joining the SEC staff, he was a Director in the National Quality Organization in Florham Park, NJ. John was a member of the business combinations team, focusing on consultations and thought leadership under US GAAP and IFRS.

John also worked in PwC’s Transaction Services (Deals) practice in the San Francisco Bay Area, where he provided corporate and private equity clients with advice on complex M&A accounting and valuation issues.

John earned an MBA and B.S. in Business Administration from Indiana University in Bloomington, Indiana. He is a Certified Public Accountant in California and a member of the American Institute of Certified Public Accountants.