Flash Memory, Inc.

Exhibit 1 Income Statements, 2007 - 2009 ($000s except earnings per share)

2007 2008 2009

Net sales $77,131 $80,953 $89,250Cost of goods sold $62,519 $68,382 $72,424 Gross margin $14,612 $12,571 $16,826

Research and development $3,726 $4,133 $4,416Selling, general and administrative $6,594 $7,536 $7,458 Operating income $4,292 $902 $4,952

Interest expense $480 $652 $735Other income (expenses) -$39 -$27 -$35

Income before income taxes $3,773 $223 $4,182

Income taxes (a) $1,509 $89 $1,673Net income $2,264 $134 $2,509

Earnings per share $1.52 $0.09 $1.68

(a) In years 2007 and after, Flash's effective combined federal and state income tax rate was 40%.

Flash Memory, Inc.

Exhibit 2 Balance Sheets, 2007 - 2009 ($000s except number of shares outstanding)

December 31,2007 2008 2009

Cash $2,536 $2,218 $2,934Accounts receivable $10,988 $12,864 $14,671Inventories $9,592 $11,072 $11,509Prepaid expenses $309 $324 $357 Total current assets $23,425 $26,478 $29,471

Property, plant & equipment at cost $5,306 $6,116 $7,282Less: Accumulated depreciation $792 $1,174 $1,633Net property, plant & equipment $4,514 $4,942 $5,649

Total assets $27,939 $31,420 $35,120

Accounts payable $3,084 $4,268 $3,929Notes payable (a) $6,620 $8,873 $10,132Accrued expenses $563 $591 $652Income taxes payable (b) $151 $9 $167Other current liabilities $478 $502 $554 Total current liabilities $10,896 $14,243 $15,434

Common stock at par value $15 $15 $15Paid in capital in excess of par value $7,980 $7,980 $7,980Retained earnings $9,048 $9,182 $11,691 Total shareholders' equity $17,043 $17,177 $19,686

Total liabilities & shareholders' equity $27,939 $31,420 $35,120

Number of shares outstanding 1,491,662 1,491,662 1,491,662

(a) Secured by accounts receivable.(b) To avoid a penalty for underpayment of income taxes, Flash made equal estimated tax payments quarterly on the 15th of April, June, September, and December of each year. The total of these four quarterly payments was required to equal at least the lesser of (a) 90% of the taxes that would actually be incurred in the same year, or (b) 100% of the taxes due on income of the prior year.

For informational purposes only:

Notes payable / accounts receivable 60.2% 69.0% 69.1%Notes payable / shareholders' equity 38.8% 51.7% 51.5%Notes payable / total capital 28.0% 34.1% 34.0%

Flash Memory, Inc.

Exhibit 3 Key Forecasting Assumptions and Relationships for 2010 Through 2012

Line Item Assumption or Ratio

Cost of goods sold 81.10% of salesResearch and development 5.0% of salesSelling, general and administrative 8.36% of salesInterest expenseOther income (expenses) $50,000 of expense each year

Cash 3.3% of salesAccounts receivable 60 days sales outstandingInventories 52 days of cost of good soldPrepaid expenses 0.4% of salesProperty, plant & equipment at cost Beginning PP&E at cost + capital expendituresAccumulated depreciation Beginning A/D + 7.5% of beginning PP&E at cost

Accounts payable 30 days of purchasesPurchases 60% of cost of goods soldAccrued expenses 0.73% of salesIncome taxes payable 10% of income taxes expenseOther current liabilities 0.62% of sales

Beginning of year debt balance × interest rate

Flash Memory, Inc.

Exhibit 4 Selected Financial Information for Flash Memory, Inc., and Selected Competitors, 2007 through 2009

Flash Memory, Inc. Micron Technology2007 2008 2009 30-Apr-10 (a) 2007 2008 2009 30-Apr-10 (a)

Sales ($ millions) 77 81 89 5,688 5,841 4,803EPS ($) 1.52 0.09 1.68 -0.42 -2.10 -2.29 1.46Dividend per share ($) -- -- -- -- -- --Closing stock price ($) n/a n/a n/a 7.25 2.64 10.56 9.35Shares outstanding (millions) 1.492 1.492 1.492 769.1 772.5 800.7 847.6Book Value per share ($) 11.43 11.52 13.20 10.08 8.00 5.81 6.61ROE 13.28% 0.78% 12.75% -4.13% -26.21% -39.43% 21.00%Capitalization (book value) Debt 28% 34% 34% 24% 31% 40% 33% Equity 72% 66% 66% 76% 69% 60% 67%Beta coefficient n/a 1.25

SanDisk Corporation STEC, Inc.

Sales ($ millions) 3,986 3,351 3,567 189 227 354EPS ($) 0.84 -8.82 1.83 3.71 0.20 0.09 1.47 1.29Dividend per share ($) -- -- -- -- -- --Closing stock price ($) 33.17 9.60 28.99 39.84 8.74 4.26 16.34 13.90Shares outstanding (millions) 227.7 225.3 227.4 229.3 49.8 50.0 49.4 50.3Book Value per share ($) 22.64 15.27 17.18 18.13 3.72 3.63 5.65 5.48ROE 3.70% -57.74% 10.63% 17.87% 5.40% 2.36% 26.06% 18.90%Capitalization (book value) Debt 15% 22% 21% 19% 0% 0% 0% 0% Equity 85% 78% 79% 81% 100% 100% 100% 100%Beta coefficient 1.36 1.00

(a) Security analyst estimates for year-end EPS $ and Return on Equity; actual data on April 30, 2010, for all other items.