UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE 
SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2007 OR o TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE 
SECURITIES EXCHANGE ACT OF 1934 For the transition period from
_____________________ to _______________________ Commission file number:  000-27582 SPEEDUS CORP.(Exact name of registrant as specified in its charter) Delaware

13-3853788(State or other jurisdiction
 of incorporation or organization)

(I.R.S. Employer Identification No.)9 Desbrosses Street, Suite 402New York, New York

10013(Address of principal executive offices)

(Zip Code)  888-773-3669(Registrants telephone number, including area code)Not Applicable(Former name, former address and former fiscal year, if changed
 since last report) Indicate by
check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes x No
o Indicate by
check mark whether the registrant is a large accelerated filer, an accelerated
filer, or a non-accelerated filer. See definition of accelerated filer and
large accelerated filer in Rule 12b-2 of the Exchange Act.
 Large accelerated filer o
Accelerated filer o
Non-accelerated filer x Indicate by
check mark whether the registrant is a shell company (as defined in Rule 12b-2
of the Exchange Act). Yes o No x The number of outstanding shares of the registrants common stock, par value $.01
per share, as of August 6, 2007 was 15,967,640.    SPEEDUS CORP.
INDEX TO FORM 10-Q

PART I  FINANCIAL INFORMATION

PageItem 1.
Financial StatementsConsolidated
          Balance Sheets (unaudited) as of June 30, 2007 and December 31, 2006

3Consolidated Statements of Operations
 (unaudited) for the Three and Six Months Ended June 30, 2007 and 2006

4Consolidated Statements of Cash Flows
 (unaudited) for the Three and Six Months Ended June 30, 2007 and 2006

5Condensed Notes to Consolidated Financial
 Statements (unaudited)

6-9Item 2.
Managements Discussion and Analysis of
 Financial Condition and Results of Operations

10-14Item 3.
Quantitative and Qualitative Disclosures
 About Market Risk

14Item 4T.
Controls and Procedures

15PART II  OTHER
 INFORMATIONItem 1.
Legal Proceedings

16Item 1A.
Risk Factors

16Item 2.
Unregistered Sales of Equity Securities and
 Use of Proceeds

16Item 3.
Defaults Upon Senior Securities

16Item 4.
Submission of Matters to a Vote of Security
 Holders

16Item 5.
Other Information

16Item 6.
Exhibits

16Signature Page

17Exhibit 31.1
Certification
 of Chief Executive Officer Pursuant to Rule 13a-14 of the Securities Exchange
 Act of 1934, as Adopted Pursuant to Section 302 of The Sarbanes-Oxley Act of
 2002

18Exhibit 31.2
Certification
 of Chief Financial Officer Pursuant to Rule 13a-14 of the Securities Exchange
 Act of 1934, as Adopted Pursuant to Section 302 of The Sarbanes-Oxley Act of
 2002

19Exhibit 32.1
Certification
 of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
 Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002

20Exhibit 32.2
Certification
 of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
 Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002

212

SPEEDUS CORP.
CONSOLIDATED BALANCE SHEETS
(unaudited)

June 30,
 2007

December 31,
 2006ASSETSCurrent assets:Cash and cash
equivalents

$
5,321,738


$
10,204,167United States
Treasury bills


7,935,010



4,990,250Marketable
securities


535,135



354,011Prepaid
expenses and other


127,558



143,654Total current assets


13,919,441



15,692,082Property and equipment, net of
accumulated
 depreciation of $527,313 and $444,972


477,985



527,828Other intangible assets, net of
accumulated
 amortization of $1,148,680 and $1,125,928


11,364



34,116Other investments


800,000



800,000Other assets


83,127



81,737Total
assets

$
15,291,917


$
17,135,763LIABILITIES
AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts
payable

$
53,911


$
62,805Accrued
liabilities


887,327



971,055Total current
liabilities


941,238



1,033,860Commitments and
ContingenciesStockholders
equity:Common stock
($.01 par value;
 50,000,000 shares authorized; 21,750,174 shares issued)


217,502



217,502Preferred stock
($.01 par value;
 20,000,000 shares authorized):Series A Junior
Participating ($.01 par value;
 4,000 shares authorized; no shares issued and outstanding)






Additional
paid-in-capital


91,519,747



91,464,119Treasury stock
(at cost; 5,782,534 and
 5,780,884 shares)


(6,085,078
)


(6,083,360
)Accumulated
deficit


(71,301,492
)


(69,496,358
)Stockholders equity


14,350,679



16,101,903Total
liabilities and stockholders equity

$
15,291,917


$
17,135,763The
accompanying notes are an integral part of these consolidated financial
statements.

3

SPEEDUS CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)

Three months ended June 30,

Six months ended June 30,2007

2006

2007

2006Revenues

$
213,136

$
209,069

$
386,455

$
428,139Expenses:Selling,
general and administrative


810,437


1,599,428


1,920,698


2,462,872Research and
development


380,641


444,785


734,261


902,147Depreciation
and amortization


53,100


204,503


105,093


443,393Cost of
sales


76,873


93,272


141,702


159,246Total operating
expenses


1,321,051


2,341,988


2,901,754


3,967,658Operating loss


(1,107,915
)

(2,132,919
)

(2,515,299
)

(3,539,519
)Investment
income/(loss)


513,050


(78,257
)

710,165


35,649Net loss

$
(594,865
)
$
(2,211,176
)
$
(1,805,134
)
$
(3,503,870
)Per share:Loss per common share - basic
and diluted

$
(0.04
)
$
(0.14
)
$
(0.11
)
$
(0.22
)Weighted average common shares
outstanding - basic and diluted


15,968,166


16,067,162


15,968,725


16,083,315The accompanying notes are an integral part of these consolidated
financial statements.

4

SPEEDUS CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)

Six months ended June 30,2007

2006Cash flows from operating
activities:Net
loss

$
(1,805,134
)
$
(3,503,870
)Adjustments to
reconcile net loss to net cash used in operating
 activities:Depreciation
and amortization


105,093


443,393Unrealized
investment (gains)/losses


(345,919
)

432,940Stock based
compensation


55,628


547,678Changes in
operating assets and liabilities:Marketable
securities


164,795


213,551Prepaid
expenses and other


16,096


(45,177
)Other
assets


(1,390
)

27,818Accounts
payable


(8,894
)

17,420Accrued
liabilities


(83,728
)

(53,806
)Net cash used in operating
activities


(1,903,453
)

(1,920,053
)Cash flows from investing
activities:Property and
equipment additions


(32,498
)

(337,696
)United States
Treasury bills:Purchases


(12,944,760
)

(9,989,800
)Maturities


10,000,000


5,000,000Net cash used in investing
activities


(2,977,258
)

(5,327,496
)Cash flows from financing
activities:Repurchase of
stock


(1,718
)

(123,936
)Net cash used
in financing activities


(1,718
)

(123,936
)Net decrease in
cash and cash equivalents


(4,882,429
)

(7,371,485
)Cash and cash equivalents,
beginning of period


10,204,167


18,563,088Cash and cash equivalents, end
of period

$
5,321,738

$
11,191,603The accompanying notes are an integral part
of these consolidated financial statements.

5

SPEEDUS CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)

1.
Basis of PresentationThe
unaudited consolidated financial statements of Speedus Corp. have been prepared
in accordance with generally accepted accounting principles for interim
financial information. In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary for fair
statements have been included. These financial statements do not include all
information and notes required by generally accepted accounting principles for
complete financial statements. These financial statements should be read in
conjunction with the Companys 2006 audited consolidated financial statements
and notes thereto on Form10-K.

Operating
results for the three months ended June 30, 2007 are not necessarily indicative
of the results that may be expected for the year ending December 31, 2007.

Financial statements and principles of
consolidation

The
consolidated financial statements include the accounts of Speedus and its
wholly-owned subsidiaries. All significant intercompany accounts and
transactions have been eliminated in consolidation.

Companies
in which Speedus directly or indirectly owns more than 50% of the outstanding
voting securities or that Speedus has effective control over are accounted for
under the consolidation method of accounting. Under this method, those
companies balance sheets and results of operations, from the date Speedus
acquired control, are included in Speedus consolidated financial statements.
The interest in the net assets and operations of these companies other
stockholders is reflected in the caption Minority interest in Speedus
consolidated balance sheet and statements of operations. Through the quarter
ended June 30, 2007, F&B Güdtfood
and Zargis Medical continued to generate losses which, during 2005, reduced the
minority interest balance to zero. As a result, the Company is consolidating
100% of the losses for these entities and continues to fund their operations
with intercompany loans or additional investment, which are eliminated in
consolidation.

Companies
in which Speedus owns less than 20% of the outstanding voting securities and
does not have the ability to exercise significant influence are accounted for
under the cost method of accounting.

Estimates

The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the dates of the financial statements and
the reported amounts of operating revenues and expenses during the reporting
periods. Actual results could differ from those estimates.

Cash and Cash Equivalents

The
Company considers all highly liquid interest earning investments with original
maturities of three months or less to be cash equivalents. At June 30, 2007 and
December 31, 2006, cash equivalents consisted of money market funds.

United States Treasury bills

United
States Treasury bills are classified as held-to-maturity securities and are
carried at amortized cost.

Marketable Securities

All
marketable securities are defined as trading securities under the provisions of
Statement of Financial Accounting Standards No. 115, Accounting for Certain
Investments in Debt and Equity Securities. At June 30, 2007 and December 31,
2006, marketable securities consisted of publicly traded equity securities
which were recorded at fair market value. Their original cost was $722,000 and
$887,000, unrealized losses since acquisition were $187,000 and $533,000 and
the carrying value was $535,000 and $354,000, respectively. At June 30, 2007,
based upon the fair market value of these securities, 100% was invested in
technology companies.

Other investments

The
Company has invested in equity and debt instruments of non-publicly held
companies and accounts for them under the cost method since the Company does
not have the ability to exercise significant influence over operations. The
Company monitors these investments for other than temporary impairment by
considering current factors including economic environment, market conditions, operational
performance and other specific factors relating to the business underlying the
investment, and records reductions in carrying values when necessary. The
Company does not believe there has been any impairment of other investments at
June 30, 2007.

6

Other investments consist of:

June 30,
 2007

December 31,
 2006(a) 791,667 shares of
 preferred stock of a non-publicly held cardiovascular technology company, recorded
 at cost in the amount of
 $300,000. In connection with this investment, the Company also received warrants
 expiring in 2009 to purchase
 375,000 shares of common stock at $.40 per share. This investment was acquired in
 2004.

$
300,000


$
300,000(b) an investment in an
 entity specifically formed to invest in convertible preferred stock in a
 non-publicly held online and directory assistance company, recorded at cost in the amount of $250,000. The
 preferred stock is convertible into shares of common stock at a conversion
 price equal to 50% of the
 price of the common stock in an initial public offering. This investment was acquired
 in 2005.


250,000



250,000(c) an investment in an
 entity specifically formed to invest in a senior third-party note of a non-publicly
 held online and directory
 assistance company, recorded at cost in the amount of $250,000. The note is convertible
 into shares of common
 stock at a conversion price equal to the price of the common stock in an initial
 public offering. This investment was acquired in 2005.


250,000



250,000$
800,000


$
800,000Securities Sold But Not Purchased

The
Company has in the past and may in the future sell publicly traded equity
securities it does not own in anticipation of declines in the fair market
values of the securities. When the Company effects such transactions, it must
borrow the securities it sold in order to deliver them and settle the trades.
The amounts shown on the balance sheet as Securities sold and not purchased represent
the value of these securities at fair market value. At June 30, 2007 and
December 31, 2006, there were no securities sold and not purchased.

Concentrations of Credit Risk

Financial
instruments that potentially could subject the Company to concentrations of
credit risk consist largely of cash equivalents and marketable securities.
These instruments are potentially subject to concentrations of credit risk but
the Company believes that this risk is limited due to diversification and
investments being made in investment grade securities.

The
Company has in the past and may in the future sell publicly traded equity
securities that it does not own in anticipation of declines in the fair market
values of the securities. When the Company sells securities that it does not
own, it must borrow the securities it sold in order to deliver them and settle
the trades. Thereafter, the Company must buy the securities and deliver them to
the lender of the securities. The Companys potential for loss on these
transactions is unlimited since the value of the underlying security can keep
increasing which could have a material adverse effect on the Companys
consolidated financial statements.

Property and Equipment

Office
equipment and leasehold improvements are recorded at cost and depreciated on a
straight-line basis over the estimated useful lives of the assets, ranging from
three to seven years, but not longer than initial lease terms in the case of
leasehold improvements.

When
assets are fully depreciated, it is the Companys policy to remove the costs
and related accumulated depreciation from its books and records.

Long-lived Assets

The
Company periodically evaluates the net realizable value of long-lived assets,
including fixed and intangible assets, in accordance with Statement of
Financial Accounting Standards No. 144, Accounting for the Impairment or
Disposal of Long-Lived Assets, relying on anticipated future cash flows. The
Companys evaluation of anticipated future cash flows considers operating
results, business plans and economic projections, as well as, non-financial
data such as market trends, product and development cycles, and changes in
managements market emphasis. An impairment in the carrying value of an asset
is recognized when the expected

7

future
operating cash flows derived from the asset are less than its carrying value.

Other Intangible Assets

At
June 30, 2007, other intangible assets consist of medical technology in
connection with the acquisition of a controlling interest in Zargis Medical
during 2003 and additional investment in 2004. Medical technology, in the
aggregate amount of $1,160,000 with accumulated amortization of $1,149,000 at
June 30, 2007 is being amortized over a period of three years.

Amortization
expense relating to intangible assets for the three and six months ended June
30, 2007 and 2006 amounted to $11,000, $22,000, $159,000 and $345,000,
respectively. The estimated amortization expense for the balance of 2007, the
expiration of the remaining useful life of the Companys intangible assets at
June 30, 2007, is $11,000. Amortization expense is included in Depreciation
and amortization on the accompanying Consolidated Statement of Operations and
not allocated to Selling, General and Administrative or Research and
Development.

Revenue Recognition

Revenues
from F&B Güdtfoods operations are recorded on a cash basis.

Earnings Per Share

Basic
and diluted earnings/(loss) per common share are determined in accordance with
Statement of Financial Accounting Standards No. 128, Earnings Per Share.

For
the three and six months ended June 30, 2007 and 2006, outstanding stock
options and warrants in the aggregate weighted average amount of 2,194,000,
2,180,000, 2,123,000 and 1,926,000, respectively, have been excluded from the
diluted loss per share since their effect would be antidilutive.

Stock Options

Effective
January 1, 2006, the Company adopted FASB 123R, Share-Based Payment,
using the modified prospective application method. Under this method, for all
unvested awards as of January 1, 2006, the Company records compensation
cost based upon the fair value of those awards on the grant date over the
remaining service period of each award on a straight line basis. For awards
granted after January 1, 2006, the Company records compensation cost based
upon the fair value of those awards on the grant date over the service period
of each award on a straight line basis. Stock based compensation expense
recognized during the three and six months ended June 30, 2007 and 2006 was
$22,000, $56,000, $517,000 and $548,000, respectively.

The
fair value of the awards on the grant date was estimated using a Black-Scholes
option pricing model. Assumptions utilized in the model for both Speedus and
Zargis are evaluated and revised, as necessary, to reflect market conditions
and experience.

Recent Accounting Pronouncements

There
have been no recent accounting pronouncements which upon future adoption would
have an effect on the Companys results of operations or financial position,
except as disclosed below.

In
September 2006, the Financial Accounting Standards Board issued
FASB 157, Fair Value Measurements. FASB 157 defines fair value,
establishes a framework for measuring fair value in generally accepted
accounting principles and expands disclosures about fair value measurements.
FASB 157 is effective for fiscal years beginning after November 15, 2007
and interim periods within those fiscal years. The Company does not expect
adoption of FASB No. 157 to have a material effect on its results of operations
or financial position.

In
February 2007, the Financial Accounting Standards Board issued FASB No. 159,
The Fair Value Option for Financial Assets and Financial Liabilities Including
an Amendment of FASB Statement No. 115, which permits companies to measure
many financial instruments and certain other assets and liabilities at fair
value on an instrument-by-instrument basis (the fair value option). FASB 159 is
effective for financial statements issued for fiscal years beginning after
November 15, 2007. We are currently evaluating the possible impact of
adopting FASB No. 159 on our consolidated financial statements.

Effective
January 1, 2007, the Company adopted Financial Accounting Standards Board
Interpretation No. 48, Accounting for
Uncertainty in Income Taxesan Interpretation of FASB Statement 109.
FIN 48 prescribes a comprehensive model for the manner in which a company
should recognize, measure, present and disclose in its financial statements all
material uncertain tax positions that the Company has taken or expects to take
on a tax return. As of the date of adoption, there were no tax positions for
which it is reasonably possible that the total amounts of unrecognized tax
benefits will significantly increase or decrease within twelve months from the
date of adoption of FIN 48 or from June 30, 2007. As of June 30, 2007, the only
tax jurisdictions to which the Company is subject are the United States and
several states where the Company operates. Open tax years relate to years in
which unused net operating losses were generated. Thus, upon adoption of FIN
48, the Companys open tax years extend back to 2000. In the event that the
Company concludes that it is subject to interest and/or penalties arising from
uncertain tax positions, the Company will present interest and penalties as a
component of income taxes. No amounts of interest or penalties were recognized
in the Companys Consolidated Statements of Operations or Consolidated Balance
Sheets upon adoption of FIN 48 or as of and for the three and six months ended
June 30, 2007.

8

2.
Business Segment InformationThe
following table sets forth the Companys financial performance by reportable
operating segment for the three and six months ended June 30, 2007 and 2006.

Three
 months ended June 30, 2007F&B

Zargis

Wibiki

Corporate
 and other

TotalsRevenues from external customers

$
202,136

$
11,000

$


$


$
213,136Depreciation and amortization


34,875


1,861


0


16,364


53,100Operating loss


(202,474
)

(369,549
)

(94,078
)

(441,814
)

(1,107,915
)Investment income/(loss)


483








512,567


513,050Other intangible assets





11,364








11,364Fixed assets


452,863


18,472





6,650


477,985Total assets


622,269


87,135





14,582,513


15,291,917Three
 months ended June 30, 2006F&B

Zargis

Wibiki

Corporate
 and other

TotalsRevenues from external customers

$
209,069

$


$


$


$
209,069Depreciation and amortization


37,202


3,090





164,211


204,503Operating loss


(447,127
)

(439,506
)

(174,766
)

(1,071,520
)

(2,132,919
)Investment income/(loss)


551


41





(78,849
)

(78,257
)Other intangible assets





71,760





206,384


278,144Fixed assets


612,775


25,896





26,600


665,271Total assets


749,924


180,607





18,413,432


19,343,963Six
 months ended June 30, 2007F&B

Zargis

Wibiki

Corporate
 and other

TotalsRevenues from external customers

$
375,455

$
11,000

$


$


$
386,455Depreciation and amortization


66,840


5,526





32,727


105,093Operating loss


(398,120
)

(875,420
)

(161,189
)

(1,080,570
)

(2,515,299
)Investment income/(loss)


895








709,270


710,165Six
 months ended June 30, 2006F&B

Zargis

Wibiki

Corporate
 and other

TotalsRevenues from external customers

$
427,801

$


$


$
338

$
428,139Depreciation and amortization


83,003


5,648





354,742


443,393Operating loss


(644,682
)

(828,784
)

(371,345
)

(1,694,708
)

(3,539,519
)Investment income/(loss)


1,026


58





34,565


35,649The
Company has no foreign operations. During the three and six months ended June
30, 2007 and 2006, the Company did not have sales to any individual customer
greater than 10% of total Company revenues. The Companys accounting policies
for segments are the same as those described in Note 1.

9

ITEM 2.
MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The
following discussion and analysis of financial condition and results of
operations should be read in conjunction with the corresponding discussion and
analysis included in the Companys Report on Form 10-K for the year ended
December 31, 2006.

Cautionary
Statement Regarding Forward-Looking Information

This
Managements Discussion and Analysis of Financial Condition and Results of
Operations and other sections of this Form 10-Q contain forward-looking
statements within the meaning of Section 27A of the Securities Act and Section
21E of the Securities Exchange Act of 1934, as amended (the Exchange Act).
These statements appear in a number of places in this Form 10-Q and include
statements regarding the intent, belief or current expectations of the Company
or its officers with respect to, among other things, the ability of the Company
to make capital expenditures, the ability to incur additional debt, as
necessary, to service and repay such debt, if any, as well as other factors
that may effect the Companys financial condition or results of operations.
Forward-looking statements may include, but are not limited to, projections of
revenues, income or losses, capital expenditures, plans for future operations,
financing needs or plans, compliance with covenants in loan agreements, plans
for liquidation or sale of assets or businesses, plans relating to products or
services of the Company, assessments of materiality, predictions of future
events, and the ability to obtain additional financing, including the Companys
ability to meet obligations as they become due, and other pending and possible
litigation, as well as assumptions relating to the foregoing. All statements in
this Form 10-Q regarding industry prospects and the Companys financial
position are forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date hereof. Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, it can give no assurance that
such expectations will prove to have been correct. The Company undertakes no
obligation to publicly release the result of any revisions to these
forward-looking statements that may be made to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events.

Business
Activities

Speedus
Corp. is a holding company that owns significant equity interests in diverse
businesses. We seek business opportunities across all industries for potential
transactions and relationships in which we can apply our current resources and
management strengths. The companies that we target, either public or privately
held, will be seeking growth or restructuring capital to pursue near term
business objectives in demonstrated markets. We will continue to pursue
opportunities involving our expertise in the medical device and wireless
markets, as well as those areas involving our broadband assets as attractive
opportunities present themselves.

We
have co-invested with Siemens Corporate Research, Inc., a subsidiary of Siemens
Corporation, in Zargis Medical Corp. to develop advanced diagnostic decision
support products and services for primary care physicians, pediatricians,
cardiologists and other healthcare professionals. Zargis Acoustic Cardioscan®
(Cardioscan®), Zargis core product, is the first and only FDA-authorized
computer-assisted medical device designed to support physicians in analyzing
heart sounds for the identification of suspected systolic and diastolic
murmurswhich are a potential sign of heart disease. We own 90% of F&B
Güdtfood Holding Corp., the creator and operator of the original Eurocentric
chic and quick café, which is operating two stores in Manhattan. In 2005, we
conceived Wibiki, a new software-based wireless network that leverages existing
Wi-Fi infrastructures to reduce cost, complexity and risk for users when
accessing the Internet wirelessly. Wibikis business model will employ a
user opt-in advertising service we call AdChooser to generate revenues that
keep Wibiki services free to users. We own a portfolio of patents that allow
for high-speed wireless communications. We also own fixed wireless spectrum in
the New York City metropolitan area that we may commercialize in the future to
support high-speed, or broadband, Internet access service. For additional
information on each of our business segments, see the discussions below and
Notes to Consolidated Financial Statements  Note 2, Business Segment
Information.

Zargis
Medical Corp.In January 2001, we co-invested with Siemens
Corporate Research, Inc., a subsidiary of Siemens Corporation, in Zargis
Medical Corp. to develop non-invasive, diagnostic support solutions that
automatically analyze acoustical data from a patient to determine
physiologically significant features useful in medical diagnosis. The
development of Zargis patented technology is a pioneering effort in medicine
which uses advanced signal processing algorithms deployed on standard computer
platforms. The first Zargis device, Cardioscan, received its initial FDA
authorization in May 2004 and additional authorizations in September 2005 and
March 2006. Cardioscan is currently being tested by a small group of physicians
during general medical examinations and physicals to help detect and analyze
suspected heart murmurs which could be a sign of valvular and congenital heart
disease. Zargis is currently researching, and conducting trials on, additional
noninvasive diagnostic support tools that process acoustical data from the body
in order to provide an accurate and intelligible assessment of a patients
health. These assessments may be used by physicians and other healthcare
providers to assist in the early identification or monitoring of heart, lung,
vascular and other conditions and to provide better patient treatment.

Major
next steps remaining for Zargis include continuing market trials and clinical
trials for new applications of the Zargis technology and the formation of
strategic partnerships designed to support product commercialization.

  In
    February 2003, we acquired a controlling interest in Zargis Medical. At June
    30, 2007, as a result of continued investment, our ownership interest was
    approximately 80%.

10

F&B
Güdtfood. We own 90%
of F&B Güdtfood, the creator and operator of the original Eurocentric chic
and quick café, which is operating two stores in Manhattan. The acquisition
price was $3,500,000 in May 2002. In February 2003, we reduced our cash
investment in F&B Güdtfood and received $1,775,000 while maintaining our
original 51% interest. In December 2003, as a result of renegotiation, our
interest increased to 80% without an additional investment. As a result of
certain milestones not having been met, in 2005 our interest increased to 90%.
We have also entered into a management services contract with F&B Güdtfood
that will result in direct revenues to us although these revenues will be
eliminated on our consolidated financial statements.

Broadband
Patents.We have accumulated a portfolio of patents that teach and cover the
improvement of high-speed wireless communication systems to allow greater
information content, reliability, clarity, more efficient use of licensed
spectrum as compared to prior systems and other advances. We have 6 domestic
patents with expiration dates ranging from 2007 through 2017, with
approximately 46 international counterparts in 28 countries. We also have 4
domestic patents pending and 14 patents pending in an additional 3 countries.
Certain wireless communications systems may employ a number of different
combinations of our patented technology to maximize operational and spectrum
efficiency. While we believe that there is great value in our patented technologies,
it is a lengthy and expensive process to investigate and pursue
licensing/patent infringement cases. We are evaluating a strategy for the
utilization of these patents in the future, which may include pursuit of
licensing or development of other strategic opportunities with users of the
underlying technology. We have licensed technology in the past, both
domestically and internationally, but are not currently receiving any license
fees.

Wibiki. During 2005, our
technology resources and experience in wireless broadband enabled us to
conceive a new software-based wireless network that leverages existing Wi-Fi
infrastructures to reduce cost, complexity and risk for users when accessing
the Internet wirelessly. We named that network Wibiki. Wibiki offers free beta
software designed to improve access to free Wi-Fi, including streamlining
registration and security configuration of Wi-Fi clients and routers. Wibiki
software for laptops and routers can be downloaded from www.wibiki.com.
Wibikis business model will employ a user opt-in advertising service we
call AdChooser to generate revenues that keep Wibiki services free to users.

NetfreeUs.In March 2007,
NetfreeUs, a new wholly-owned subsidiary, asked the FCC for authority to manage
a new nationwide Wireless Public Broadband (WPB) network in the 2155-2175 MHz
frequency band. Like viewers of free over-the-air television and radio,
consumers of NetfreeUS Wireless Public Broadband (WPB) service will never
incur monthly fees. NetfreeUS will coordinate third-party lessees who would own
and operate wireless access points (WAPs). Initially, no lessee would be
authorized to operate more than fifty (50) WAPs. WPB will promote localism and
the provision of advertising and public service messages targeted to local
interests and communities, as well as local business and economic development,
through ubiquitous coverage provided by small-footprint networks. In addition,
user-designated advertising would permit local customization of advertising
messages to inform users about products and services of interest in the
community.

There
are six other applications for this band. Because the FCC has not established
processing standards for these applications, we cannot predict whether and to
what extent our application will be granted, if at all.

Local
Multipoint Distribution Service (LMDS) license.We have an FCC commercial operating license,
awarded to us in recognition of our efforts in developing and deploying LMDS
technology and for spearheading its regulatory approval at the FCC, which
covers 150 MHz of spectrum in the New York City area. Under FCC authorization,
the license includes an additional 150 MHz of spectrum until the first Ka band
satellite is launched, an event which is not currently determinable. The license
provides that the spectrum may be used for a wide variety of fixed wireless
purposes, including wireless local loop telephony, high-speed Internet access
and two-way teleconferencing.

  The
    license has been renewed through February 1, 2016 conditioned upon demonstrating
    to the FCC by March 27, 2007 that we are providing substantial service.
    On March 7, 2007, we filed a notification that we are providing substantial
    service in accordance with FCC standards. On March 27, 2007, out of
    an abundance of caution, we requested a contingent waiver and an extension
    of time until March 27, 2010 to demonstrate substantial service,
    to the extent our earlier demonstration is not deemed compliant with FCC standards.
    On July 31, 2007, we were informed by the FCC that we had not demonstrated
    that we were providing substantial service on the required date
    and were granted a waiver to extend the construction and substantial service
    deadline under the Companys FCC license renewal to October 6, 2008.

Other.We have invested a portion of our assets in a portfolio of marketable
    securities consisting of publicly traded equity securities. We have also invested
    a portion of our assets in equity and debt instruments of non-publicly held
    companies. We have in the past and may in the future sell publicly traded
    equity securities we do not own in anticipation of declines in the fair market
    values of these securities.

We
have generated operating losses and negative operating cash flows since our
inception and expect to continue to do so in the near future.

11

Critical
Accounting Policies

Our
discussion and analysis of our financial condition and results of operations
are based upon our consolidated financial statements. The preparation of those
financial statements in conformity with generally accepted accounting
principles requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the dates of the financial statements and the
reported amounts of operating revenues and expenses during the reporting
periods. Actual results could differ from those estimates. For a description of all of our accounting
policies, see Note 1 to our consolidated financial statements included in
this Form 10-Q and Note 2 to our consolidated financial statements included in
our 2006 Form 10-K. However, we believe the following critical
accounting policies affect the more significant judgments and estimates used in
the preparation of our consolidated financial statements.

Financial
instruments. Our financial instruments consist primarily of
cash equivalents, United States treasury bills and marketable securities and
may include securities sold and not purchased. The carrying value of cash
equivalents approximates market value since these highly liquid, interest
earning investments are invested in money market funds. Marketable securities
consist of publicly traded equity securities classified as trading securities
and are recorded at fair market value, i.e., closing prices quoted on
established securities markets. Securities sold and not repurchased are also
carried at the fair market value of the securities. Significant changes in the
market value of securities that we invest in could have a material impact on
our financial position and results of operations.

We
have also invested in equity and debt instruments of non-publicly held
companies and account for them under the cost method since we do not have the
ability to exercise significant influence over operations. We monitor these
investments for other than temporary impairment by considering current factors
including economic environment, market conditions, operational performance and
other specific factors relating to the business underlying the investment, and
record reductions in carrying values when necessary.

Long-lived
assets. Long-lived assets, including fixed assets and other
intangibles, are reviewed for impairment whenever events or changes in
circumstances indicate that the carrying amount of any such asset may not be
recoverable through estimated future cash flows from that asset. The estimate
of cash flow is based upon, among other things, certain assumptions about
expected future operating performance.

Share-Based
Payments. Prior
to January 1, 2006, we accounted for our employee stock options in
accordance with Statement of Financial Accounting Standards No. 123,
Accounting for Stock-Based Compensation, as amended, which defines a fair
value method of measuring and accounting for compensation expense from
employee stock options. FASB 123 also allowed accounting for such options under
the intrinsic value method in accordance with Accounting Principles Board No.
25, Accounting for Stock Issued to Employees. We elected to use the intrinsic
value method and adopted the disclosure only provisions of FASB 123. Generally,
no compensation cost was recognized since stock options were issued with
exercise prices equal to the market value of the underlying shares on the grant
date.

Effective
January 1, 2006, we adopted FASB 123R, Share-Based Payment, using the
modified prospective application method. Under this method, for all unvested
awards as of January 1, 2006, we record compensation cost based upon the
fair value of those awards on the grant date over the remaining service period
of each award on a straight line basis. For awards granted after
January 1, 2006, we record compensation cost based upon the fair value of
those awards on the grant date over the service period of each award on a
straight line basis.

We
estimate the value of these awards on the date of grant using a Black-Scholes
option pricing model. The determination of the fair value of these awards on
the date of grant is affected by our stock price as well as assumptions
regarding a number of complex and subjective variables. These variables include
our expected stock price volatility over the term of the awards, expected term,
risk-free interest rate, expected dividends and expected forfeiture rates.

If
factors change and we employ different assumptions in the application of FASB
123R in future periods, the compensation expense that we record under FASB 123R
may differ significantly from what we have recorded in the current period.
There is a high degree of subjectivity involved when using option pricing
models to estimate share-based compensation under FASB 123R. Consequently,
there is a risk that our estimates of the fair values of these awards on the
grant dates may bear little resemblance to the actual values realized upon the
exercise, expiration, early termination or forfeiture of those share-based
payments in the future. Employee stock options may expire worthless or
otherwise result in zero intrinsic value as compared to the fair values
originally estimated on the grant date and reported in our consolidated
financial statements. Alternatively, value may be realized from these
instruments that are significantly in excess of the fair values originally
estimated on the grant date and reported in our consolidated financial
statements. During the six months ended June 30, 2007, we do not believe that
reasonable changes in the projections would have had a material effect on
share-based compensation expense.

Contingencies.
We account for contingencies in accordance with Statement of Financial
Accounting Standards No. 5, Accounting for Contingencies. SFAS No. 5 requires
that we record an estimated loss when information available prior to issuance
of our financial statements indicates that it is probable that an asset has
been impaired or a liability has been incurred at the date of the financial
statements and the amount of the loss can be reasonably estimated. Accounting
for contingencies such as environmental, legal and income tax matters requires
us to use our judgment. While we believe that our accruals for these matters
are adequate, if the actual

12

loss is significantly different than the estimated
loss, our results of operations will be affected in the period that the
difference is known.

Three
and Six Months Ended June 30, 2007 Compared to Three and Six Months Ended June
30, 2006

Revenues
decreased $42,000 from $428,000 for the six months ended June 30, 2006 to
$386,000 for the six months ended June 30, 2007 and remained approximately the
same for the three months ended June 30, 2006 compared to the three months
ended June 30, 2007. The decrease for the six month periods is primarily the
result of a reduction in menu prices at the Companys first store and a lack of
customer acceptance of the F&B format at the second store. We are testing
new menu concepts as a solution to customer acceptance.

  Selling,
    general and administrative expenses decreased $542,000 from $2,463,000 for
    the six months ended June 30, 2006 to $1,921,000 for the six months ended
    June 30, 2007 and decreased $789,000 from $1,599,000 for the three months
    ended June 30, 2006 to $810,000 for the three months ended June 30, 2007.
    These decreases are primarily a result of decreases in stock based compensation.

Research
and development expenses decreased $168,000 from $902,000 for the six months ended
June 30, 2006 to $734,000 for the six months ended June 30, 2007 and decreased
$64,000 from $445,000 for the three months ended June 30, 2006 to $381,000 for
the three months ended June 30, 2007. These decreases are primarily a result of
a lower level of expenses incurred during 2007 in connection with new wireless
initiatives by the Company.

Depreciation
and amortization decreased $338,000 from $443,000 for the six months ended June
30, 2006 to $105,000 for the six months ended June 30, 2007 and decreased
$152,000 from $205,000 for the three months ended June 30, 2006 to $53,000 for
the three months ended June 30, 2007. These decreases are primarily a result of
a decrease in amortization of medical technology from the completion of
amortization of early tranches of medical technology resulting from the Zargis
acquisition, net of an increase as a result of renovation to one of the F&B
Restaurant stores.

Investment
income increased $674,000 from a net gain of $36,000 for the six months ended
June 30, 2006 to a net gain of $710,000 for the six months ended June 30, 2007
and increased $591,000 from a net loss of $78,000 for the three months ended
June 30, 2006 to a net gain of $513,000 for the three months ended June 30,
2007. Realized gains decreased $85,000 from net gains of $100,000 for the six
months ended June 30, 2006 and to net gains of $15,000 for the six months ended
June 30, 2007. Realized gains were $15,000 for the three months ended June 30,
2007. There were no trades during the three months ended June 30, 2006.
Unrealized gains increased $779,000 from net losses of $433,000 for the six
months ended June 30, 2006 to net gains of $346,000 for the six months ended
June 30, 2007 and increased $591,000 from net losses of $262,000 for the three
months ended June 30, 2006 to net gains of $329,000 for the three months ended
June 30, 2007. Interest income decreased $20,000 from $369,000 for the six
months ended June 30, 2006 to $349,000 for the six months ended June 30, 2007
and decreased $15,000 from $183,000 for the three months ended June 30, 2006 to
$168,000 for the three months ended June 30, 2007. These amounts will fluctuate
based upon changes in the market value of the underlying investments, overall
market conditions and the amount of funds available for short-term investment
and are not necessarily indicative of the results that may be expected for any
future periods.

Liquidity
and Capital Resources

The
Company has recorded operating losses and negative operating cash flows in each
year of its operations since inception.

Net
cash used in operating activities was approximately $1,900,000 for both the six
months ended June 30, 2007 and 2006. While the net loss for the six month
periods decreased by approximately $1,700,000 in 2007, the significant items
accounting for this change are decreases in depreciation and amortization and
stock based compensation of approximately $300,000 and $500,000, respectively,
and an increase in unrealized appreciation of approximately $800,000, all of
which are non-cash items.

Net
cash used in investing activities was approximately $3,000,000 for the six
months ended June 30, 2007 compared to net cash used in investing activities of
approximately $5,300,000 for the six months ended June 30, 2006. This net
decrease in cash used in investing activities was primarily the result of a
$5,000,000 increase in maturities and a $3,000,000 decrease in purchases of
United States Treasury bills and a $300,000 decrease in property and equipment
additions during the six months ended June 30, 2007.

Net
cash used in financing activities was $2,000 for the six months ended June 30,
2007 compared to net cash used in financing activities of $124,000 for the six
months ended June 30, 2006. This decrease was a result of decreases in
repurchases of treasury stock.

At
June 30, 2007, the Companys future minimum lease payments due under
non-cancelable leases aggregated $1,399,000. $222,000 of this amount is due
during the remainder of 2007. $382,000, $233,000, $138,000 and $109,000 of this
amount is due during the years ending December 31, 2008, 2009, 2010 and 2011,
respectively, and $315,000 is payable thereafter. In addition, in connection
with a license agreement to which the Company is a party, a termination payment
will be payable by the Company in the amount of $500,000, $300,000 or $200,000
if the license agreement is terminated by the Company before September 2007,
September 2009 or September 2011, respectively.

13

The
Company believes that it has sufficient liquidity to finance its current level
of operations and expected capital requirements through the next twelve months.
However, the Company does not expect to have earnings from operations until
such time as it substantially increases its customer base and/or forms a
strategic alliance for use of its capabilities in the future. We cannot predict
when this will occur. We have no material non-cancelable commitments and the
amount of future capital funding requirements will depend on a number of
factors that we cannot quantify, including the success of our business, the
extent to which we expand our high-speed Internet service if suitable equipment
becomes available and the types of services we offer, as well as other factors
that are not within our control, including competitive conditions, government
regulatory developments and capital costs. The lack of additional capital in
the future could have a material adverse effect on the Companys financial
condition, operating results and prospects for growth.

We
have invested a portion of our assets in a portfolio of marketable securities
consisting of publicly traded equity securities. We purchase these securities
in anticipation of increases in the fair market values of the securities. We
have in the past and may in the future also sell publicly traded equity
securities we do not own in anticipation of declines in the fair market values
of these securities. When we sell securities that we do not own, we must borrow
the securities we sold in order to deliver them and settle the trades.
Thereafter, we must buy the securities and deliver them to the lender of the
securities. Our potential for loss on these transactions is unlimited since the
value of the underlying security can keep increasing.

On
June 19, 2007, the Company received a letter from the Nasdaq Stock Market
informing the Company that it will have 180 days, or until December 17, 2007,
to regain compliance with Marketplace Rule 4310(c)(4), which requires the
Company to maintain a minimum closing bid price of $1.00 per share. For the 30
consecutive business days prior to June 19, 2007, the bid price of the
Companys common stock closed below $1.00 per share. This letter has no effect
on the listing of the Companys common stock at this time. If at any time
before December 17, 2007 the closing bid price of the Companys common stock is
$1.00 or more per share for a minimum of 10 consecutive business days, the
Company will have complied with the minimum bid requirement. If the Company is
unable to demonstrate compliance with the minimum bid price requirement by
December 17, 2007, Nasdaq will notify the Company that its common stock will be
delisted from the Nasdaq Stock Market. At that time, the Company may appeal the
decision to a Nasdaq Listing Qualifications Panel. The Company is considering all
available options in order to maintain its listing on Nasdaq, including seeking
shareholder approval for a reverse stock split.

Off-Balance
Sheet Arrangements

The
Company does not have any off-balance sheet arrangements.

Recent
Accounting Pronouncements

There
have been no recent accounting pronouncements which upon future adoption would
have an effect on the Companys results of operations or financial position,
except as disclosed below.

In
September 2006, the Financial Accounting Standards Board issued FASB 157, Fair
Value Measurements. FASB 157 defines fair value, establishes a framework for
measuring fair value in generally accepted accounting principles and expands
disclosures about fair value measurements. FASB 157 is effective for fiscal
years beginning after November 15, 2007 and interim periods within those
fiscal years. The Company does not expect adoption of FASB No. 157 to have a
material effect on its results of operations or financial position.

In
February 2007, the Financial Accounting Standards Board issued FASB No. 159,
The Fair Value Option for Financial Assets and Financial Liabilities Including
an Amendment of FASB Statement No. 115, which permits companies to measure
many financial instruments and certain other assets and liabilities at fair
value on an instrument-by-instrument basis (the fair value option). FASB 159 is
effective for financial statements issued for fiscal years beginning after
November 15, 2007. We are currently evaluating the possible impact of
adopting FASB No. 159 on our consolidated financial statements.

Effective
January 1, 2007, the Company adopted Financial Accounting Standards Board
Interpretation No. 48, Accounting for
Uncertainty in Income Taxesan Interpretation of FASB Statement 109.
FIN 48 prescribes a comprehensive model for the manner in which a company
should recognize, measure, present and disclose in its financial statements all
material uncertain tax positions that the Company has taken or expects to take
on a tax return. As of the date of adoption, there were no tax positions for
which it is reasonably possible that the total amounts of unrecognized tax
benefits will significantly increase or decrease within twelve months from the
date of adoption of FIN 48 or from March 31, 2007. As of March 31, 2007, the
only tax jurisdictions to which the Company is subject are the United States
and several states where the Company operates. Open tax years relate to years
in which unused net operating losses were generated. Thus, upon adoption of FIN
48, the Companys open tax years extend back to 2000. In the event that the
Company concludes that it is subject to interest and/or penalties arising from
uncertain tax positions, the Company will present interest and penalties as a
component of income taxes. No amounts of interest or penalties were recognized
in the Companys Consolidated Statements of Operations or Consolidated Balance
Sheets upon adoption of FIN 48 or as of and for the three and six months ended
June 30, 2007.

ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The
Companys financial instruments at June 30, 2007 consist primarily of cash
equivalents, which are subject to interest rate risk, and marketable
securities, which are subject to price risk.

14

As
part of our overall investment strategy, we invest in publicly traded equity
securities. We purchase these securities in anticipation of increases in the
fair market values of the securities. We have in the past and may in the future
also sell publicly traded equity securities that we do not own in anticipation
of declines in the fair market values of the securities. When we sell
securities that we do not own, we must borrow the securities we sold in order
to deliver them and settle the trades. Thereafter, we must buy the securities
and deliver them to the lender of the securities. Our potential for loss on
these transactions is unlimited since the value of the underlying security can
keep increasing which could have a material adverse effect on the Companys
consolidated financial statements.

The
carrying value of cash equivalents approximates market value since these highly
liquid, interest earning investments are invested in money market funds. The
Companys investment in marketable securities consists of publicly traded equity
securities classified as trading securities and are recorded at fair market
value. Securities sold and not repurchased are carried at the fair market value
of the securities.

ITEM 4T.
CONTROLS AND PROCEDURES

Management
of the Company, including the Chief Executive Officer and the Chief Financial
Officer, evaluated the effectiveness of the design and operation of the
Companys disclosure controls and procedures (as such term is defined in
Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934)
as of the end of the period covered by this report. Based upon that evaluation,
the Companys Chief Executive Officer and the Chief Financial Officer concluded
that the Companys disclosure controls and procedures were effective as of the
end of the period covered by this report.

There have
not been any changes in the Companys internal control over financial reporting
(as such term is defined in Rules 13a-15(f) and 15d-15(f) under the
Exchange Act) during the fiscal quarter ended June 30, 2007 that have
materially affected, or are reasonably likely to materially affect, the
Companys internal control over financial reporting.

15

PART II. OTHER
INFORMATION

ITEM 1.
LEGAL PROCEEDINGSItem 3 to
 the Companys Form 10-K for the year ended December 31, 2006 is incorporated
 herein by reference.In May 2007,
 we reached a mutual agreement with Cellco Partnership (d/b/a Verizon Wireless)
 leading to the dismissal of the two separate complaints that we filed against
 Verizon Wireless. No financial consideration was paid or received by either
 party.ITEM 1A.
RISK FACTORSNo material
 changes.ITEM 2.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDSStock
 repurchase program:Period

(a)
 Total Numberof Shares (orUnits) Purchased

(b)
 Average PricePaid per Share (orUnit)


(c)
 Total numberof Shares (orUnits) Purchasedas Part of PubliclyAnnounced Plansor Programs

(d)
 Maximumnumber (orApproximateDollar Value) ofShares (or Units)that May Yet BePurchased Underthe Plans
orPrograms (1)April 1, 2007 - April 30,
2007


0

$




0

$
415,740May 1, 2007 - May 31,
2007


0

$




0

$
415,740June 1, 2007 - June 30,
2007


1,650

$
1.04



1,650

$
414,022Total


1,650

$
1.04



1,650

$
414,022(1) On November 21, 2000,
 the Company announced that its Board of Directors had approved a stock
 repurchase program for the repurchase of up to $1,000,000 of Company stock
 through open market as well as privately negotiated transactions. Thereafter,
 the Board of Directors approved increases to the program in the aggregate
 amount of $5,500,000.ITEM 3.
DEFAULTS UPON SENIOR SECURITIESNone.ITEM 4.
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSNone.ITEM 5.
OTHER INFORMATIONNone.ITEM 6.
EXHIBITSExhibit number 31.1
Certification of Chief Executive Officer Pursuant to
Rule 13a-14 of
 the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of
 The Sarbanes-Oxley Act of 2002.Exhibit number 31.2
Certification of Chief Financial Officer Pursuant to
Rule 13a-14 of
 the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of
 The Sarbanes-Oxley Act of 2002.Exhibit number 32.1
Certification of Chief Executive Officer Pursuant to
18 U.S.C.
 Section 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of
 2002.Exhibit number 32.2
Certification of Chief Financial Officer Pursuant to
18 U.S.C.
 Section 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of
 2002.16

SIGNATURES

Pursuant to
the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

SPEEDUS CORP.Date: August
 14, 2007
By:
/s/ Shant S.
 HovnanianShant S.
 Hovnanian 
 Chairman of the Board, President and Chief Executive OfficerDate: August
 14, 2007
By:
/s/ Thomas
 M. FinnThomas M.
 Finn
 Treasurer and Chief Financial and Accounting Officer17