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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-K/A

                                 AMENDMENT NO. 1

              ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                       SECURITIES AND EXCHANGE ACT OF 1934

                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2003

                           COMMISSION FILE NO. 1-14168

                               GLOBIX CORPORATION
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

                DELAWARE                                        13-3781263
    (STATE OR OTHER JURISDICTION OF                          (I.R.S. EMPLOYER
     INCORPORATION OR ORGANIZATION)                         IDENTIFICATION NO.)

 139 CENTRE STREET, NEW YORK, NEW YORK                             10013
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                        (ZIP CODE)

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:          (212) 334-8500

        SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: NONE

           SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

TITLE OF EACH CLASS                   NAME OF EACH EXCHANGE ON WHICH REGISTERED
-------------------                   -----------------------------------------

Common Stock, $.01 par value          Over the Counter Bulletin Board

         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 |_|

         Indicate by checkmark if disclosure of delinquent filers pursuant to
item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of the registrant's knowledge in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. |_|

         Indicate by check mark whether the registrant is an accelerated filer
(as defined in Exchange Act Rule 12b-2). Yes |_| No |X|

         As of December 15, 2003, the aggregate market value of voting stock
held by non-affiliates of the registrant, based upon the closing sales price for
the registrant's common stock, as reported on the Over the Counter Bulletin
Board Market, was approximately $52.5 million (calculated by excluding shares
owned beneficially by directors and named executive officers).

         Number of shares of registrant's common stock outstanding as of
December 15, 2003 was 16,460,000.

         Indicate by check mark whether the registrant has filed all documents
and reports required to be filed by Section 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes |X| No |_|

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                      DOCUMENTS INCORPORATED BY REFERENCE:

         Portions of the registrant's definitive proxy statement for its annual
meeting of stockholders to be held on February 24, 2004, which is expected to be
filed with the Securities and Exchange Commission not later than January 28,
2004, are incorporated by reference into Part III of this report on Form 10-K.
In the event such proxy statement is not filed by January 28, 2004, the required
information will be filed as an amendment to this report on Form 10-K no later
than that date.

                                EXPLANATORY NOTE:


         This Amendment No. 1 on Form 10-K is being filed to amend Part III Item
9A. of the Company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2003, filed on December 18, 2003 (the "Original 10-K"). This
Amendment No. 1 does not otherwise alter the disclosures set forth in the
Original 10-K and does not reflect events occurring after the filing of the
Original 10-K. This Amendment No. 1 is effective for all purposes as of the date
of the filing of the Original 10-K.

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                               GLOBIX CORPORATION

ITEM 9A. CONTROLS AND PROCEDURES

Since the Company's emergence from bankruptcy effective April 25, 2002, the
Company has had to face many challenging and complex accounting and financial
reporting issues, including fresh start accounting, restructuring and the
restatement of amounts in its financial statements for the quarter ended March
31, 2002. In addition, the Company has experienced significant turnover in its
financial reporting staff, as well as limited management resources. The Company
fell behind in its SEC reporting for the year ended September 30, 2002, and
experienced difficulty in catching up with its filing obligations for the year
ended September 30, 2002 while fulfilling its responsibilities for the year
ended September 30, 2003. The combined effect of these challenges placed a
strain on our internal accounting resources in summer 2003 and resulted in
further delays in the preparation and filing of periodic reports that were filed
in summer 2003. The strain on our internal accounting resources and the delays
in the preparation and filing of periodic reports created material weaknesses in
our accounting and internal control environment in summer 2003.

In order to resolve the problems described above, the Company hired a new Senior
Accountant in May 2003, a new Controller in July 2003, a new Manager of External
Reporting in October 2003 and a new Senior Accountant in November 2003. In
addition, the Company has committed to returning to a normal recurring closing
timetable that includes formal management reviews and a monthly financial
reporting package. Finally, by completing its fiscal 2002 reporting, the Company
has significantly reduced the burden on its internal accounting staff.

Based on their evaluation of the Company's disclosure controls and procedures as
of the end of the period covered by this report, the Chief Executive Officer and
Chief Financial Officer have concluded that there was a material weakness in our
internal control over financial reporting that needed to be addressed. As noted
above, the Company has dedicated resources to address this issue and has
implemented the necessary changes such as hiring a new Senior Accountant, new
Controller, new Manager and new Senior Accountant and has committed to returning
to a normal recurring closing timetable that includes formal management
reviews and a monthly financial reporting package and has significantly reduced
the burden on our internal accounting staff. In addition, except as noted above,
there were no changes in the Company's internal control over financial reporting
that occurred during the Company's most recent fiscal quarter that materially
affected, or are reasonably likely to materially affect, the Company's internal
control over financial reporting.

ITEM 15. EXHIBITS

     EXHIBIT NO.                  EXHIBIT DESCRIPTION

         31.1     Certification of Principal Executive Officer Pursuant to
                  Section 302 of the Sarbanes-Oxley Act of 2002.

         31.2     Certification of Principal Financial Officer Pursuant to
                  Section 302 of the Sarbanes-Oxley Act of 2002.

         32.1     Certification of Principal Executive Officer Pursuant to 18
                  U.S.C. Section 1350.

         32.2     Certification of Principal Financial Officer Pursuant to 18
                  U.S.C. Section 1350.

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                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

Date: December 6, 2004                      GLOBIX CORPORATION


                                            /s/ Peter K. Stevenson
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                                            Peter K. Stevenson
                                            President, Chief Executive Officer






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