**UNITED        STATES **

**SECURITIES        AND EXCHANGE COMMISSION **

**Washington,        D.C. 20549 **

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**Form        10-QSB **

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| x | **QUARTERLY                  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT                  OF 1934** |
|---|-------------------------------------------------------------------------------------------------------------------------|

**For        the quarterly period ended September 30, 2005 **

**OR        **

| o | **TRANSITION                  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT                  OF 1934** |
|---|--------------------------------------------------------------------------------------------------------------------------|

**(Commission        file number: 005-50985) **

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**GigaBeam        Corporation**

**(Exact        name of small business issuer as specified in its charter)**

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|                                                                                                    |   |   |   |                                                                          |
|---------------------------------------------------------------------------------------------------------|--------|--------|--------|-------------------------------------------------------------------------------|
| **Delaware**                                                                                            |   |   |   | **20-0607757**                                                                |
| **(State                  or other jurisdiction of****incorporation                  or organization)** |   |   |   | **(I.R.S.                  Employer****Identification                  No.)** |

**470        Springpark Place, Suite 900**

**Herndon,        VA 20170**

**(Address        of principal executive offices) **

**(571)        283-6200**

**(Issuer’s        telephone number, including area code) **

----

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**GigaBeam            Corporation**

|                                                                                                                                                                                                                                                                                                    | Page   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                    |   |
| COVER                      PAGE                                                                                                                                                                                                                                                                         | 1      |
|                                                                                                                                                                                                                                                                                                    |   |
| INDEX                                                                                                                                                                                                                                                                                                   | 2      |
|                                                                                                                                                                                                                                                                                                    |   |
| PART                      1 - FINANCIAL                      INFORMATION                                                                                                                                                                                                                                |   |
|                                                                                                                                                                                                                                                                                                    |   |
| Item                      1 - Financial Statements (Unaudited)                                                                                                                                                                                                                                          |   |
|                                                                                                                                                                                                                                                                                                    |   |
| Condensed                      Consolidated Balance Sheet as of September 30, 2005 and December                      31,                      2004                                                                                                                                                      | 3      |
|                                                                                                                                                                                                                                                                                                    |   |
| Condensed                      Consolidated Statement of Operations for the three months and                      nine months                      ended September 30, 2005 and the three months and period January                      5, 2004                      (inception) to September 30, 2004 | 4      |
|                                                                                                                                                                                                                                                                                                    |   |
| Condensed                      Consolidated Statement of Cash Flows for the nine months ended                      September                      30, 2005 and the period January 5, 2004 (inception) to September                      30,                      2004                                   | 5-6    |
|                                                                                                                                                                                                                                                                                                    |   |
| Notes                      to Condensed Consolidated Financial Statements                                                                                                                                                                                                                               | 7-16   |
|                                                                                                                                                                                                                                                                                                    |   |
|                                                                                                                                                                                                                                                                                                    |   |
| Item                      2 - Management’s Discussion and Analysis of Financial Condition and                      Results of Operations                                                                                                                                                          | 16-23  |
|                                                                                                                                                                                                                                                                                                    |   |
| Item                      3 - Controls and Procedures                                                                                                                                                                                                                                                   | 23     |
|                                                                                                                                                                                                                                                                                                    |   |
| PART                      II - OTHER                      INFORMATION                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                    |   |
| Item                      2 - Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                                                                                                               | 23     |
|                                                                                                                                                                                                                                                                                                    |   |
| Item                      6 - Exhibits                                                                                                                                                                                                                                                                  | 24     |
|                                                                                                                                                                                                                                                                                                    |   |
| SIGNATURE                                                                                                                                                                                                                                                                                               | 25     |
|                                                                                                                                                                                                                                                                                                    |   |
| EXHIBIT                      INDEX                                                                                                                                                                                                                                                                      | 26     |

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**GigaBeam            Corporation**

|                                                                                                                                                                                                                  |   | **Pro                      Forma****September                      30, 2005****See                      Note 6** |        | **September                      30, 2005** |   | **December                      31,****2004** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|-------------|---------------------------------------------|--------|-----------------------------------------------|--------|
| **ASSETS**                                                                                                                                                                                                            |   |                                                                                                             |        |                                        |   |                                          |   |
| **Current                      assets:**                                                                                                                                                                              |   |                                                                                                             |        |                                        |   |                                          |   |
| Cash                      and cash equivalents                                                                                                                                                                        |   | $                                                                                                                | 18,120,033  |                                        | $      | 400,888                                       |   | $ | 1,742,716 |   |
| Restricted                      cash                                                                                                                                                                                  |   |                                                                                                             | 160,405     |                                        |   | 160,405                                       |   |   | — |   |
| Accounts                      receivable, net                                                                                                                                                                         |   |                                                                                                             | 216,175     |                                        |   | 216,175                                       |   |   | — |   |
| Inventories                                                                                                                                                                                                           |   |                                                                                                             | 1,956,858   |                                        |   | 1,956,858                                     |   |   | 674,973 |   |
| Prepaid                      expenses and other current assets                                                                                                                                                        |   |                                                                                                             | 625,630     |                                        |   | 625,630                                       |   |   | 293,690 |   |
| **Total                      current assets**                                                                                                                                                                         |   |                                                                                                             | 21,079,101  |                                        |   | 3,359,956                                     |   |   | 2,711,379 |   |
|                                                                                                                                                                                                                  |   |                                                                                                             |             |                                        |   |                                               |   |   |  |   |
| Property                      and equipment, net                                                                                                                                                                      |   |                                                                                                             | 1,247,519   |                                        |   | 1,247,519                                     |   |   | 141,821 |   |
| Debt                      issuance costs, net                                                                                                                                                                         |   |                                                                                                             | 542,672     |                                        |   | 542,672                                       |   |   | — |   |
| Deferred                      charges                                                                                                                                                                                 |   |                                                                                                             | 429,000     |                                        |   | 429,000                                       |   |   | 429,000 |   |
| Other                      assets                                                                                                                                                                                     |   |                                                                                                             | 185,458     |                                        |   | 185,458                                       |   |   | 81,273 |   |
| **Total                      assets**                                                                                                                                                                                 |   | $                                                                                                                | 23,483,750  |                                        | $      | 5,764,605                                     |   | $ | 3,363,473 |   |
|                                                                                                                                                                                                                  |   |                                                                                                             |             |                                        |   |                                               |   |   |  |   |
| **LIABILITIES                      AND STOCKHOLDERS’ EQUITY**                                                                                                                                                   |   |                                                                                                             |             |                                        |   |                                               |   |   |  |   |
|  **Current                      liabilities:**                                                                                                                                                                   |   |                                                                                                             |             |                                        |   |                                               |   |   |  |   |
| Accounts                      payable                                                                                                                                                                                 |   | $                                                                                                                | 1,580,025   |                                        | $      | 1,580,025                                     |   | $ | 1,101,793 |   |
| Accrued                      liabilities                                                                                                                                                                              |   |                                                                                                             | 867,394     |                                        |   | 867,394                                       |   |   | 783,167 |   |
| Current                      portion of capital lease obligation                                                                                                                                                      |   |                                                                                                             | 295,731     |                                        |   | 295,731                                       |   |   | — |   |
| **Total                      current liabilities**                                                                                                                                                                    |   |                                                                                                             | 2,743,150   |                                        |   | 2,743,150                                     |   |   | 1,884,960 |   |
| Capital                      lease obligation, non-current                                                                                                                                                            |   |                                                                                                             | 39,121      |                                        |   | 39,121                                        |   |   | — |   |
| Convertible                      notes payable, net of discount                                                                                                                                                       |   |                                                                                                             | 1,568,195   |                                        |   | 1,568,195                                     |   |   | — |   |
| **Total                      liabilities**                                                                                                                                                                            |   |                                                                                                             | 4,350,466   |                                        |   | 4,350,466                                     |   |   | 1,884,960 |   |
|                                                                                                                                                                                                                  |   |                                                                                                             |             |                                        |   |                                               |   |   |  |   |
| **Stockholders’                      equity**                                                                                                                                                                   |   |                                                                                                             |             |                                        |   |                                               |   |   |  |   |
| Series                      A redeemable Preferred Stock, $.001 par value, authorized 20,000                      shares;                      issued and outstanding 11,277 shares at 9/30/05                        |   |                                                                                                             | 11          |                                        |   | 11                                            |   |   | — |   |
| Series                      B convertible Preferred Stock, $.001 par value authorized 20,000                      shares;                      issued                      and outstanding, 18,900 shares at 09/30/05 |   |                                                                                                             | 19          |                                        |   | —                                       |   |   | — |   |
| Common                      stock, $.001 par value, authorized 40,000,000 shares; issuedand                      outstanding 4,883,840                      shares at 9/30/05; 4,603,440 shares at 12/31/04           |   |                                                                                                             | 4,979       |                                        |   | 4,884                                         |   |   | 4,603 |   |
| Additional                      paid in capital                                                                                                                                                                       |   |                                                                                                             | 37,681,486  |                                        |   | 19,962,455                                    |   |   | 9,024,121 |   |
| Deferred                      compensation                                                                                                                                                                            |   |                                                                                                             | (34,384     | )                                           |   | (34,384                                       | )      |   | (45,211 | ) |
| Accumulated                      deficit                                                                                                                                                                              |   |                                                                                                             | (18,518,827 | )                                           |   | (18,518,827                                   | )      |   | (7,505,000 | ) |
| **Total                      stockholders’ equity**                                                                                                                                                             |   |                                                                                                             | 19,133,284  |                                        |   | 1,414,139                                     |   |   | 1,478,513 |   |
| **Total                      liabilities and stockholders’ equity**                                                                                                                                             |   | $                                                                                                                | 23,483,750  |                                        | $      | 5,764,605                                     |   | $ | 3,363,473 |   |

*See            unaudited notes to consolidated condensed financial            statements.*

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**GigaBeam            Corporation**

|                                                                                                         |   |  **Three                      Months****Ended****September                      30** |       |  **Nine                      Months****Ended****September                      30** |   | **January                      5, 2004 (inception) to** **September****3****0** |   |
|--------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------|------------|------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------|--------|
|                                                                                                         |   | 2005                                                                                      |       | 2004                                                                                     |   | 2005                                                                                 |   | 2004 |   |
|                                                                                                         |   |                                                                                      |       |                                                                                     |   |                                                                                 |   |   |   |
| **Net                      Sales**                                                                           |   | $                                                                                         | 371,238    |                                                                                     | $      | —                                                                              |   | $ | 479,438 |   | $ | — |   |
| Cost                      of Sales                                                                           |   |                                                                                      | 566,474    |                                                                                     |   | —                                                                              |   |   | 727,338 |   |   | — |   |
| Gross                      Margin                                                                            |   |                                                                                      | (195,236   | )                                                                                        |   | —                                                                              |   |   | (247,900 | ) |   | — |   |
|                                                                                                         |   |                                                                                      |       |                                                                                     |   |                                                                                      |   |   |   |   |   |  |   |
| **Operating                      expenses:**                                                                 |   |                                                                                      |            |                                                                                     |   |                                                                                      |   |   |   |   |   |  |   |
| Research                      and development                                                                |   |                                                                                      | 1,200,562  |                                                                                     |   | 1,046,935                                                                            |   |   | 3,944,963 |   |   | 2,699,571 |   |
| General                      and administrative                                                              |   |                                                                                      | 797,739    |                                                                                     |   | 399,337                                                                              |   |   | 2,759,739 |   |   | 924,158 |   |
| Selling                      and marketing                                                                   |   |                                                                                      | 673,507    |                                                                                     |   | 209,714                                                                              |   |   | 1,863,402 |   |   | 463,507 |   |
| Link                      operations                                                                         |   |                                                                                      | 290,872    |                                                                                     |   | 89,240                                                                               |   |   | 716,688 |   |   | 89,240 |   |
| Total                      operating expenses                                                                |   |                                                                                      | 2,962,680  |                                                                                     |   | 1,745,226                                                                            |   |   | 9,284,792 |   |   | 4,176,476 |   |
| Operating                      loss                                                                          |   |                                                                                      | (3,157,916 | )                                                                                        |   | (1,745,226                                                                           | )      |   | (9,532,692 | ) |   | (4,176,476 | ) |
|                                                                                                         |   |                                                                                      |       |                                                                                     |   |                                                                                 |   |   |   |   |   |   |   |
| Other                      income (expense):                                                                 |   |                                                                                      |       |                                                                                     |   |                                                                                 |   |   |   |   |   |   |   |
| Interest                      income                                                                         |   |                                                                                      | 1,834      |                                                                                     |   | —                                                                              |   |   | 8,084 |   |   | — |   |
| Interest                      expense                                                                        |   |                                                                                      | (229,075   | )                                                                                        |   | (176,961                                                                             | )      |   | (1,488,632 | ) |   | (337,814 | ) |
| Other                      expense, net                                                                      |   |                                                                                      | —    |                                                                                     |   | —                                                                              |   |   | (587 | ) |   | — |   |
| **Total                      other income (expense), net**                                                   |   |                                                                                      | (227,241   | )                                                                                        |   | (176,961                                                                             | )      |   | (1,481,135 | ) |   | (337,814 | ) |
|                                                                                                         |   |                                                                                      |       |                                                                                     |   |                                                                                 |   |   |   |   |   |   |   |
| **Net                      loss**                                                                            |   | $                                                                                         | (3,385,157 | )                                                                                        | $      | (1,922,187                                                                           | )      | $ | (11,013,827 | ) | $ | (4,514,290 | ) |
|                                                                                                         |   |                                                                                      |       |                                                                                     |   |                                                                                 |   |   |   |   |   |   |   |
| **Basic                      and diluted loss per share (note 6)**                                           |   | $                                                                                         | (.68       | )                                                                                        | $      | (.71                                                                                 | )      | $ | (2.27 | ) | $ | (1.67 | ) |
|                                                                                                         |   |                                                                                      |       |                                                                                     |   |                                                                                 |   |   |   |   |   |   |   |
| **Basic                      and diluted weighted average shares outstanding (note                      6)** |   |                                                                                      | 4,973,156  |                                                                                     |   | 2,717,257                                                                            |   |   | 4,860,948 |   |   | 2,710,382 |   |

*See            unaudited notes to condensed consolidated financial            statements.*

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**GigaBeam            Corporation**

|                                                                                                                       |   | **Nine                          Months**Ended**September                        30,****2005** |        | ****January                        5, 2004******(inception)                          to**September                        30, **2004** |   |
|----------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------|-------------|----------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                       |   |                                                                                          |        |                                                                                                                                   |   |
| **Cash                        flows from operating activities:**                                                           |   |                                                                                     |        |                                                                                                                                   |   |
| Net                        loss                                                                                            |   | $                                                                                             | (11,013,827 | )                                                                                                                                      | $      | (4,514,290 | ) |
| Adjustments                        to reconcile net loss to net cash used for operating                        activities: |   |                                                                                          |        |                                                                                                                                   |   |   |   |
| Increase                        in allowance for doubtful amounts                                                          |   |                                                                                          | 95,000      |                                                                                                                                   |   | — |   |
| Amortization                        of debt discount and beneficial conversion factor                                      |   |                                                                                          | 1,054,942   |                                                                                                                                   |   | 198,511 |   |
| Non-cash                        acquisition of in-process research and development                                         |   |                                                                                          | —     |                                                                                                                                   |   | 200,000 |   |
| Depreciation                        and amortization                                                                       |   |                                                                                          | 169,120     |                                                                                                                                   |   | 4,041 |   |
| Non-cash                        compensation expenses                                                                      |   |                                                                                          | 98,227      |                                                                                                                                   |   | 67,716 |   |
| Non-cash                        research and development expense                                                           |   |                                                                                          | —     |                                                                                                                                   |   | 144,788 |   |
| Changes                        in operating assets and liabilities:                                                        |   |                                                                                          |        |                                                                                                                                   |   |   |   |
| Restricted                        cash                                                                                     |   |                                                                                          | (160,405    | )                                                                                                                                      |   | — |   |
| Accounts                        receivable                                                                                 |   |                                                                                          | (216,175    | )                                                                                                                                      |   | — |   |
| Inventory                                                                                                                  |   |                                                                                          | (1,281,885  | )                                                                                                                                      |   | — |   |
| Prepaid                        expenses and other current assets                                                           |   |                                                                                          | (331,334    | )                                                                                                                                      |   | (15,779 | ) |
| Deposits                                                                                                                   |   |                                                                                          | (3,685      | )                                                                                                                                      |   | — |   |
| Deferred                        charges                                                                                    |   |                                                                                          | —     |                                                                                                                                   |   | (429,000 | ) |
| Accounts                        payable                                                                                    |   |                                                                                          | 478,232     |                                                                                                                                   |   | 621,055 |   |
| Accrued                        liabilities                                                                                 |   |                                                                                          | 84,228      |                                                                                                                                   |   | 1,063,437 |   |
| **Net                        cash used for operating activities**                                                          |   |                                                                                          | (11,027,562 | )                                                                                                                                      |   | (2,659,521 | ) |
|                                                                                                                       |   |                                                                                          |        |                                                                                                                                   |   |   |   |
| Cash                        flows used for investing activities:                                                           |   |                                                                                          |        |                                                                                                                                   |   |   |   |
| Investing                        in notes receivable                                                                       |   |                                                                                          | (95,000     | )                                                                                                                                      |   | — |   |
| Purchases                        of property and equipment                                                                 |   |                                                                                          | (779,336    | )                                                                                                                                      |   | (43,109 | ) |
| Acquisition                        of patents & intangibles                                                            |   |                                                                                          | (106,005    | )                                                                                                                                      |   | (13,940 | ) |
| **Net                        cash used for investing activities**                                                          |   |                                                                                          | (980,341    | )                                                                                                                                      |   | (57,049 | ) |
|                                                                                                                       |   |                                                                                          |        |                                                                                                                                   |   |   |   |
| Cash                        flows provided by financing activities:                                                        |   |                                                                                          |        |                                                                                                                                   |   |   |   |
| Issuance                        of common stock, net of costs                                                              |   |                                                                                          | 577,159     |                                                                                                                                   |   | — |   |
| Issuance                        of redeemable preferred stock; net of costs                                                |   |                                                                                          | 6,923,914   |                                                                                                                                   |   | — |   |
| Proceeds                        from notes payable, net                                                                    |   |                                                                                          | —     |                                                                                                                                   |   | 3,425,000 |   |
| Repayment                        of notes payable                                                                          |   |                                                                                          | —     |                                                                                                                                   |   | (50,000 | ) |
| Repayments                        of capital lease                                                                         |   |                                                                                          | (155,730    | )                                                                                                                                      |   | — |   |
| Issuance                        of convertible debt, net                                                                   |   |                                                                                          | 2,432,437   |                                                                                                                                   |   | — |   |
| Exercise                        of warrants                                                                                |   |                                                                                          | 888,295     |                                                                                                                                   |   | — |   |
| Deferred                        Offering Costs                                                                             |   |                                                                                          | —     |                                                                                                                                   |   | (587,394 | ) |
| **Net                        cash provided by financing activities**                                                       |   |                                                                                          | 10,666,075  |                                                                                                                                   |   | 2,787,606 |   |

----

**GigaBeam            Corporation**

|                                                                                                                    |   | **Nine                        Months**Ended**September                      30,****2005** |       | **January                        5, 2004****(inception)****to**September                      30,**2004** |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                    |   |                                                                                 |       |                                                                                                 |   |
| **Net                      increase (decrease) in cash and cash equivalents**                                           |   | $                                                                                         | (1,341,828 | )                                                                                                         | $      | 71,036 |   |
| Cash                      and cash equivalents at the beginning of the period                                           |   |                                                                                      | 1,742,716  |                                                                                                      |   | — |   |
| **Cash                      and cash equivalents at the end of the period**                                             |   | $                                                                                         | 400,888    |                                                                                                      | $      | 71,036 |   |
|                                                                                                                    |   |                                                                                      |       |                                                                                                      |   |   |   |
| **Supplemental                      disclosures:**                                                                      |   |                                                                                      |       |                                                                                                      |   |   |   |
| Interest                      Paid                                                                                      |   | $                                                                                         | 87,927     |                                                                                                      | $      | — |   |
| Non-cash                      investing and financing  transactions:                                               |   |                                                                                      |       |                                                                                                      |   |   |   |
| Common                      stock issued in connection with deferred charges                                            |   | $                                                                                         | —    |                                                                                                      | $      | 429,000 |   |
| Issuance                      of warrants in connection with convertible debt and common                      stock     |   | $                                                                                         | 1,194,761  |                                                                                                      | $      | — |   |
| Issuance                      of warrants in connection with redeemable preferred and common                      stock |   | $                                                                                         | 61,101     |                                                                                                      | $      | — |   |
| Issuance                      of warrants and options in connection with debt issue                      costs          |   | $                                                                                         | 384,835    |                                                                                                      | $      | — |   |
| Capital                      lease obligation incurred to finance the purchase of                      equipment        |   | $                                                                                    | 524,832    |                                                                                                      | $      | — |   |

*See            unaudited notes to consolidated condensed financial            statements.*

----

**Notes            to Consolidated Condensed Financial Statements (Unaudited)**

*GigE*

*GigE*

*Basis            of Presentation*

----

*Cash            and Cash Equivalents*

*Fair            Value of Financial Instruments*

*Concentration            of Credit Risk*

|                                               | **Nine                      Months ended****September                      30, 2005**  |
|----------------------------------------------------|---------------------------------------------------------------------------------------------|
| Number                    of significant customers | 2                                                                                           |
| Percentage                    of Net Sales         | 35%                                                                                         |

*Accounts            Receivable*

*Inventories*

|                                    |   | **September                      30,****2005**  |      | **December                      31,****2004** |   |
|-----------------------------------------|--------|------------------------------------------------------|-----------|-----------------------------------------------|--------|
| Raw                      material  |   | $                                                    | 1,402,698 |                                          | $      | 674,973 |   |
| Finished                      goods     |   | $                                                    | 554,160   |                                          |   | — |   |
|                                    |   | $                                                    | 1,956,858 | (1)                                           | $      | 674,973 |   |
|                                    |   |                                                 |      |                                          |   |   |   |

| (1)   | Work                      in process at September 30 was                      insignificant. |
|-----------------|----------------------------------------------------------------------------------------------|

----

*Prepaid            Expenses and*
*Other            Current Assets*

|                                                           |   | **September                      30,****2005**  |    | **December                      31,****2004** |   |
|----------------------------------------------------------------|--------|------------------------------------------------------|---------|-----------------------------------------------|--------|
| Prepaid                      Contract Expenses            |   | $                                                    | 250,000 |                                          | $      | 250,000 |   |
| Prepaid                      Insurance                         |   | $                                                    | 204,524 |                                          | $      | 10,865 |   |
| Other                      Prepaid Expenses and Current Assets |   |                                                 | 171,106 |                                          |   | 32,825 |   |
|                                                           |   | $                                                    | 625,630 |                                          | $      | 293,690 |   |

*Property            and Equipment*

*Accrued            Liabilities*

|                                                  |   |   | **September                        30,****2005** |   |   |    | **December                        31,****2004** |   |   |
|-------------------------------------------------------|--------|--------|--------------------------------------------------|--------|--------|--------------|-------------------------------------------------|--------|--------|
| Estimated                        contract based costs | (1)    | $      | 400,000                                          |   |   | $            | 456,630                                         | (1     | )      |
| Accrued                        interest payable       |   |   | 84,970                                           |   |   |         | —                                         |        |   |
| Accrued                        payroll and benefits   | (1)    |   | 365,749                                          |   |   |         | 216,605                                         | (1     | )      |
| Accrued                        warranty               |   |   | 16,500                                           |   |   |         | —                                         |        |   |
| Other                                                 |   |   | 175                                              |   |   |         | 109,932                                         | (1     | )      |
|                                                  |   | $      | 867,394                                          |        |   | $            | 783,167                                         |        |   |

*Revenue            Recognition*

----

*Research,            Engineering and Development*

*Net            Loss Per Share*

|                                                     |   | **Number                      of Shares** |
|----------------------------------------------------------|--------|-------------------------------------------|
| Notes                      convertible into common stock |   | 312,500                                   |
| Options                      to purchase common stock    |   | 1,441,370                                 |
| Warrants                      to purchase common stock   |   | 3,115,252                                 |

*Income            Taxes*

*Use            of Estimates*

*Stock-Based            Compensation*

----

|                                                                                                                                                                  |   | **For                      the nine****months                      ended****September                      30,****2005**   |        |  **For                      the Period****January                      5, 2004****(inception)                      to****September                      30,****2004** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------|-------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Net                      loss as reported                                                                                                                             |   | $                                                                                                                                    | (11,013,827 | )                                                                                                                                                                          | $      | (4,514,290 | ) |
|                                                                                                                                                                  |   |                                                                                                                                 |             |                                                                                                                                                                       |   |  |   |
| Less:                      Stock-based employee compensation determined under the intrinsic                      value                      method for all awards     |   |                                                                                                                                 | 10,827      |                                                                                                                                                                       |   | 8,910 |   |
|                                                                                                                                                                  |   |                                                                                                                                 |        |                                                                                                                                                                       |   |   |   |
| Add:                      Stock-based employee compensation expense determined under                      fair value                      based method for all awards |   |                                                                                                                                 | (596,285    | )                                                                                                                                                                          |   | (83,560 | ) |
|                                                                                                                                                                  |   |                                                                                                                                 |        |                                                                                                                                                                       |   |  |   |
| Pro                      forma net loss                                                                                                                               |   | $                                                                                                                                    | (11,599,285 | )                                                                                                                                                                          | $      | (4,588,940 | ) |
|                                                                                                                                                                  |   |                                                                                                                                 |        |                                                                                                                                                                       |   |  |   |
| Pro                      forma net loss per share, basic and dilutive                                                                                                 |   | $                                                                                                                                    | (2.39       | )                                                                                                                                                                          | $      | (1.69 | ) |
|                                                                                                                                                                  |   |                                                                                                                                 |        |                                                                                                                                                                       |   |   |   |
| Weighted                      average shares outstanding, basic and diluted                                                                                           |   |                                                                                                                                 | 4,860,948   |                                                                                                                                                                       |   | 2,710,382 |   |

| Black-Scholes                      Assumptions:     |   |   |   |
|-----------------------------------------------------|--------|--------|--------|
| Expected                      volatility            |   |   | 85     | % |
| Risk                      free interest rate        |   |   | 4.14   | % |
| Dividend                      yield                 |   |   | 0      | % |
| Expected                      life (range in years) |   |   | 4      | yrs. |

*Recent            Accounting Pronouncements*

----

| · | A                      “modified prospective” method in which compensation cost is recognized                      beginning with the effective date (a) based on the requirements                      of SFAS                      123(R) for all share-based payments granted after the effective                      date and                      (b) based on the requirements of SFAS 123(R) for all awards                      granted to                      employees prior to the effective date of SFAS 123(R) that remain                      unvested                      on the effective date.  |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| · | A                      “prospective retrospective” method which includes the requirements of the                      modified prospective method described above, but also permits                      entities to                      restate based on the amounts previously recognized under SFAS                      123(R) for                      purposes of pro forma disclosures either (a) all prior periods                      presented                      or (b) prior interim periods of the year of                      adoption.                                                                |

----

| Property                      and equipment consist of the following: |   | **September                      30,****2005** |      | **December                      31,****2004** |   |
|-----------------------------------------------------------------------|--------|------------------------------------------------|-----------|-----------------------------------------------|--------|
| Equipment                      - Engineering and production           |   | $                                              | 946,913   |                                          | $      | 93,313 |   |
| Office                      and computer equipment                    |   |                                           | 158,974   |                                          |   | 41,450 |   |
| Leasehold                      improvements                           |   |                                           | 130,892   |                                          |   | — |   |
| Engineering                      software development cost            |   |                                           | 114,386   |                                          |   | 3,888 |   |
| Demo                      equipment and spares                        |   |                                           | 34,500    |                                          |   | — |   |
| Other                                                                 |   |                                           | 36,843    |                                          |   | 13,940 |   |
|                                                                  |   |                                           | 1,422,508 |                                          |   | 152,591 |   |
| Less                      accumulated depreciation                    |   |                                           | (174,989  | )                                             |   | (10,770 | ) |
|                                                                  |   | $                                              | 1,247,519 |                                          | $      | 141,821 |   |

|                                                |   | **September                      30,****2005** |    | **December                      31,****2004** |   |
|-----------------------------------------------------|--------|------------------------------------------------|---------|-----------------------------------------------|--------|
| Machinery                      and office equipment |   | $                                              | 524,832 |                                          | $      | — |   |
| Accumulated                      amortization       |   |                                           | (64,155 | )                                             |   | — |   |
|                                                |   | $                                              | 460,677 |                                          | $      | — |   |

|                                         |   | **September                      30,****2005** |      | **December                      31,****2004** |   |
|----------------------------------------------|--------|------------------------------------------------|-----------|-----------------------------------------------|--------|
| 8%                      senior notes payable |   | $                                              | 2,500,000 |                                          | $      | — |   |
| Less                      discount           |   |                                           | (931,805  | )                                             |   | — |   |
|                                         |   | $                                              | 1,568,195 |                                          | $      | — |   |

----

| Year                      ended December 31,                 |   |   |     |
|--------------------------------------------------------------|--------|--------|----------|
| 2005                                                         |   | $      | 90,035   |   |
| 2006                                                         |   |   | 233,012  |   |
| 2007                                                         |   |   | 23,357   |   |
| 2008                                                         |   |   | 10,648   |   |
| Total                      payment obligation                |   |   | 357,052  |   |
| Less                      amount representing interest       |   |   | (22,200  | ) |
| Present                      value of net minimum obligation |   |   | 334,852  |   |
| Less                      current portion                    |   |   | (295,731 | ) |
| Non                      current portion                     |   | $      | 39,121   |   |

----

|                                                                |   |    **September                      30,****2005** |      | **Preferred                      and****Common****Shares                      Issued****Subsequent                      to****September                      30,****2005** |   |  **Pro                      Forma****September                      30,****2005** |   |
|---------------------------------------------------------------------|--------|------------------------------------------------------------------|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------|--------|
| **ASSETS**                                                          |   |                                                             |      |                                                                                                                                                                       |   |                                                                                   |   |
| **Current                      assets:**                            |   |                                                             |      |                                                                                                                                                                       |   |                                                                                   |   |
| Cash                      and cash equivalents                      |   | $                                                                | 400,888   |                                                                                                                                                                       | $      | 17,719,145                                                                             |   | $ | 18,120,033 |   |
| Restricted                      cash                                |   |                                                             | 160,405   |                                                                                                                                                                       |   | —                                                                                |   |   | 160,405 |   |
| Accounts                      receivable, net                       |   |                                                             | 216,175   |                                                                                                                                                                       |   |                                                                                   |   |   | 216,175 |   |
| Inventories                                                         |   |                                                             | 1,956,858 |                                                                                                                                                                       |   |                                                                                   |   |   | 1,956,858 |   |
| Prepaid                      expenses and other current assets      |   |                                                             | 625,630   |                                                                                                                                                                       |   |                                                                                   |   |   | 625,630 |   |
| **Total                      current assets**                       |   |                                                             | 3,359,956 |                                                                                                                                                                       |   | 17,719,145                                                                             |   |   | 21,079,101 |   |
|                                                                |   |                                                             |      |                                                                                                                                                                       |   |                                                                                   |   |   |   |   |
| Property                      and equipment, net                    |   |                                                             | 1,247,519 |                                                                                                                                                                       |   |                                                                                   |   |   | 1,247,519 |   |
| Debt                      issuance costs, net                       |   |                                                             | 542,672   |                                                                                                                                                                       |   |                                                                                   |   |   | 542,672 |   |
| Deferred                      charges                               |   |                                                             | 429,000   |                                                                                                                                                                       |   |                                                                                   |   |   | 429,000 |   |
| Other                      assets                                   |   |                                                             | 185,458   |                                                                                                                                                                       |   |                                                                                   |   |   | 185,458 |   |
| **Total                      assets**                               |   | $                                                                | 5,764,605 |                                                                                                                                                                       | $      | 17,719,145                                                                             |   | $ | 23,483,750 |   |
|                                                                |   |                                                             |      |                                                                                                                                                                       |   |                                                                                        |   |   |   |   |
| **LIABILITIES                      AND STOCKHOLDERS’ EQUITY** |   |                                                             |      |                                                                                                                                                                       |   |                                                                                        |   |   |   |   |
|                                                                |   |                                                             |      |                                                                                                                                                                       |   |                                                                                        |   |   |   |   |
| **Current                      liabilities:**                       |   |                                                             |      |                                                                                                                                                                       |   |                                                                                        |   |   |   |   |
| Accounts                      payable                               |   | $                                                                | 1,580,025 |                                                                                                                                                                       | $      | —                                                                                |   | $ | 1,580,025 |   |
| Accrued                      liabilities                            |   |                                                             | 867,394   |                                                                                                                                                                       |   | —                                                                                |   |   | 867,394 |   |
| Current                      portion of capital lease obligation    |   |                                                             | 295,731   |                                                                                                                                                                       |   | —                                                                                |   |   | 295,731 |   |
| **Total                      current liabilities**                  |   |                                                             | 2,743,150 |                                                                                                                                                                       |   | —                                                                                |   |   | 2,743,150 |   |
| Capital                      lease obligation, non-current          |   |                                                             | 39,121    |                                                                                                                                                                       |   | —                                                                                |   |   | 39,121 |   |
| Convertible                      note payable, net of discount      |   |                                                             | 1,568,195 |                                                                                                                                                                       |   | —                                                                                |   |   | 1,568,195 |   |
| **Total                      liabilities**                          |   |                                                             | 4,350,466 |                                                                                                                                                                       |   | —                                                                                |   |   | 4,350,466 |   |

| **Stockholders’                      equity:**                                                                                                                                                                                                                 |   |   |        |   |   |       |   |   |        |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-------------|--------|--------|------------|--------|--------|-------------|--------|
| Series                      A redeemable Preferred Stock, $.001 par value, authorized 20,000                      shares;                      issued                      and outstanding 5,768 shares at 9/30/05                                                   |   |   | 11          |   |   | —    |   |   | 11          |   |
| Series                      B Convertible Preferred Stock, $.001 par value, authorized                      20,000shares; issued                      and outstanding, 18,900 shares at 09/30/05                                                                |   |   |        |   |   | 19         |   |   | 19          |   |
| Common                      stock, $.001 par value, authorized 40,000,000 shares; issuedand                      outstanding                      4,979,107 shares at 9/30/05 as compared to 4,883,840 shares at                      9/30/05, on a historical basis |   |   | 4,884       |   |   | 95         |   |   | 4,979       |   |
| Additional                      paid in capital                                                                                                                                                                                                                      |   |   | 19,962,455  |   |   | 17,719,031 |   |   | 37,681,486  |   |
| Deferred                      compensation                                                                                                                                                                                                                           |   |   | (34,384     | )      |   | —    |   |   | (34,384     | )      |
| Accumulated                      deficit                                                                                                                                                                                                                             |   |   | (18,518,827 | )      |   | —    |   |   | (18,518,827 | )      |
| **Total                      stockholders’ equity**                                                                                                                                                                                                            |   |   | 1,414,139   |   |   | 17,719,145 |   |   | 19,133,284  |   |
| **Total                      liabilities and stockholders’ equity**                                                                                                                                                                                            |   | $      | 5,764,605   |   | $      | 17,719,145 |   | $      | 23,483,750  |   |

----

**ITEM            2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONDENSED FINANCIAL CONDITION            AND            RESULTS OF OPERATIONS**

**OPERATIONS            REVIEW**

**Overview**

|  · | A                      $2.5 million private placement of convertible debt in several                      tranches,                      with a principal institutional stockholder, completed                      prior to our                      IPO.                                                                                                                                                                                                                                                                    |
|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  · | A                      $1 million bridge loan in the third quarter of 2004, repaid                      in entirety                      with proceeds from our IPO in October 2004                                                                                                                                                                                                                                                                                                                                                |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  · | Approximately                      $5.5 million in net proceeds from our IPO.                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  · | An                      8% senior convertible note private placement issue, with warrants,                      in the                      first quarter of 2005 for $2.5 million, from which the Company                      received                      approximately $2.1 million in aggregate net proceeds.                                                                                                                                                                                                                |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  · | An                      aggregate of $888,295 from the exercise of 175,900 of our IPO                      warrants                      during the quarter ended March 31, 2005 and an additional $267,145                      from                      exercise of 52,900 of our IPO warrants in October 2005.                                                                                                                                                                                                                 |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  · | A                      private offering of our 10% series A redeemable preferred stock                      and                      warrants and concurrent offshore placement of common stock                      and warrants in                      tranches placed between May and July 2005. From the $8.6 million                      gross                      proceeds of these financings, the Company received approximately                      $7.4                      million, net of banking and legal fees. |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ·       | A                      private offering of our series B convertible preferred stock                      with dividend                      rates increasing from 8% to 14% by the fifth year and warrants                      placed in                      November 2005 for $18.9 million, from which the Company received                      approximately $17.5 million in net proceeds.                                                                                                                                  |

----

*GigE*
*GigE            *
*GigE*
*GigE*

**Engineering            and product development **

*GigE,*
*GigE*
*OC-48*

**Investment            in laboratory and production equipment **

*GigE            *

**Manufacturing            plan **

----

**General            and administrative support **

**Sales            and marketing**

**Link            Operations**

***Revenues,            gross margins and income from operations***

|                                      |   | **Quarter                      Ended****September                      30,** |       | **Nine**Months Ended******September                      30,** |   |
|-------------------------------------------|--------|------------------------------------------------------------------------------|------------|----------------------------------------------------------------|--------|
|                                      |   | **2005**                                                                     |       | **2004**                                                       |   | **2005** |   |  **2004** |   |
| Revenue                                   |   | $                                                                            | 371,238    |                                                           | $      | — |   | $ | 479,438 |   | $ | — |   |
| Gross                      Margin         |   |                                                                         | (195,236   | )                                                              |   | — |   |   | (247,900 | ) |   | — |   |
| Loss                      from Operations |   | $                                                                            | (3,157,916 | )                                                              | $      | (1,745,226 | ) | $ | (9,532,692 | ) | $ | (4,176,476 | ) |
| *As                      a % of revenue*  |   |                                                                         | (1         | )                                                              |   | (1 | ) |   | (1 | ) |   | (1 | ) |

| (1) | Initial                      revenues were recognized in the quarter ended June 30, 2005.                      During the                      preceding periods of operation, the Company was considered                      to be in a                      start up status. Due to the relatively short period of revenue                      recognition                      in the comparative periods covered in this report, gross margin                      percentages and operating results as a percentage of revenues                      are not                      considered relevant. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

***Interest            expense***
*.            *

----

***Link            operations***
*.*

***Selling            and marketing.***

*GigE*
*GigE*

***Research,            development and engineering.***

*GigE            *
*GigE*

***General            and administrative.***

----

**LIQUIDITY            AND CAPITAL RESOURCES**

**Cash              Flows**

|                                                                                  |   |   | **Nine                        Months Ended**     |   |   |
|---------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------|--------|--------|
|                                                                                  |   |   | **September                        30,****2005** |   |   | **September                        30,****2004** |   |   |
| Net                        cash used by operating activities                          |   | $      | (11,027,562                                      | )      | $      | (2,659,521 | ) |   |
| Net                        cash used in investing activities                          |   |   | (980,341                                         | )      |   | (57,049 | ) |   |
| Net                        cash provided by finance activities                        |   |   | 10,666,075                                       |   |   | 2,787,606 |   |   |
| Net                        Increase (decrease) in cash and cash equivalents** ** |   | $      | (1,341,828                                       | )      | $      | 71,036 |   |   |

***Cash            and cash equivalents.***
*GigE            *
*GigE*

***Net            cash used in operating activities.***            Our net            cash used in operating activities was $11,027,562 for the nine months            ended            September 30, 2005, compared to a net use of cash of $2,659,521 in the            first            nine months of 2004. The Company was primarily in a formative stage in            the first            nine months, and indeed, in the entire year of 2004, dating from its            inception            as of January 5, 2004. The significant use of cash in the nine months            ended            September 30, 2005 is related to first, the significant expense related            to            product development costs for the WiFiber 2 series *GigE*and            the            WiFiber G series *GigE*product            lines over the period. We expect the product development costs to continue            at            high levels for at least the next two to three quarters, as we continue            to meet            our goals of continued efficiency and price reduction in order to remain            competitive in our primary markets. Second, we required $1,281,885 to            acquire            material inventories in order to continue commercial production of our            WiFiber 2            series *GigE*            product            lines. Third, the general and administrative overhead of the Company            increased            to $2,759,739 during the first nine months of 2005, related to expansion            of            employee levels, opening of two additional offices, and general costs            of            maintaining a publicly traded entity following our IPO in October            2004.

----

***Net            cash used in investing activities.***

***Net            cash provided by financing activities.***

***Capital            structure and resources.***
*GigE            *
*GigE            *
*OC-48*
*GigE            *
*OC-192            *

*GigE*
*GigE*

**CRITICAL            ACCOUNTING POLICIES**

----

**FORWARD-LOOKING            STATEMENTS AND FACTORS THAT MAY AFFECT FUTURE RESULTS**

| • | Our                      limited operating history;                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Our                      limited capital resources and our ability to obtain sufficient                      additional                      operating capital when and as needed, including the ability                      to service                      existing and any future debt obligations;                                                                                                                                                                                                  |
| • | Our                      ability to continue the transition from development stage company                      to a                      commercial stage operating company;                                                                                                                                                                                                                                                                                                                            |
| • | Our                      failure to quickly and effectively distinguish our products                      from other                      “last mile” alternatives;                                                                                                                                                                                                                                                                                                                          |
| • | Our                      ability to attract and retain qualified management, sales and                      technical                      personnel, or loss of our founding executives;                                                                                                                                                                                                                                                                                                                |
| • | Our                      ability to establish cost-effective sales and distribution                      channels as                      well as an effective technical sales force;                                                                                                                                                                                                                                                                                                                    |
| • | The                      performance of critical suppliers, sub-contractors and strategic                      partners                      upon whom we depend;                                                                                                                                                                                                                                                                                                                                        |
| • | Our                      ability to continue to develop new products that achieve market                      acceptance, and our ability to manufacture these products in                      commercial                      quantities;                                                                                                                                                                                                                                                              |
| • | Inability                      to obtain critical components for manufacturing our product                      lines on a                      timely basis;                                                                                                                                                                                                                                                                                                                                            |
| • | Our                      ability to fulfill our customers’ needs and meet their technical                      specifications;                                                                                                                                                                                                                                                                                                                                                                     |
| • | Continuing                      uncertainties regarding the telecommunications industry in                      general, and in                      the particular markets in which we operate and with respect                      to general                      global economic status;                                                                                                                                                                                                            |
| • | Financial,                      governmental and regulatory risks and approvals required and                      our ability                      to adapt to changes in these processes;                                                                                                                                                                                                                                                                                                               |
| • | The                      degree of difficulty, and thus the cost, associated with our                      domestic                      customers’ ability to obtain required one-time national licenses needed                      to                      employ our products, which could have a direct correlation                      on the                      perceived attractiveness of our solutions;                                                                               |
| • | Delays                      that may occur in obtaining required regulatory approvals and                      desired                      industry standard certifications for our equipment;                                                                                                                                                                                                                                                                                                          |
| • | Potential                      that foreign governments will not approve commercial use of                      the                      frequencies in our products operate, or that such approvals                      that may be                      obtained will require modification of our equipment lines from                      the modes                      set by the FCC for domestic usage;                                                                                         |
| • | Actual                      and potential competition in the intensely competitive telecommunications                      industry;                                                                                                                                                                                                                                                                                                                                                                     |
| • | A                      significant number of companies with which we currently compete                      or with                      whom we may have to compete have substantially greater resources                      and                      longer operating histories than we do; thus we may not be able                      to compete                      effectively in major market sectors, even with technically                      superior                      product lines; |
| • | The                      ability of private and start-up companies to enter our markets                      due to the                      relative low cost of entry in obtaining licenses to radio frequencies                      in                      which our products operate;                                                                                                                                                                                                              |
| • | Concentration                      of sales to a relatively few customers and any inherent customer                      credit                      risk;                                                                                                                                                                                                                                                                                                                                               |
| • | The                      relative demand levels for access to high-speed broadband connectivity                      in                      the general economy;                                                                                                                                                                                                                                                                                                                                        |
| • | Any                      claims that we are infringing on the intellectual property                      rights of                      others;                                                                                                                                                                                                                                                                                                                                                          |
| • | Our                      failure to obtain sufficient levels of product liability insurance                      coverage;                                                                                                                                                                                                                                                                                                                                                                               |
| • | Claims                      made under our stated warranty terms and conditions, particularly                      with new                      product lines;                                                                                                                                                                                                                                                                                                                                          |
| • | Failure                      of ourselves or customers to obtain necessary access rights                      to install our                      equipment in working environments;                                                                                                                                                                                                                                                                                                                     |
| • | Any                      future findings that emissions from our antennae may pose health                      risks;                                                                                                                                                                                                                                                                                                                                                                                    |
| • | The                      risks and uncertainties inherent in our ability to effectively                      integrate                      and manage acquired businesses, products or                      technologies;                                                                                                                                                                                                                                                                               |
| • | Other                      risks detailed in the Company’s Annual Report on Form 10-KSB for the year                      ended December 31, 2004 and other SEC                      filings.                                                                                                                                                                                                                                                                                                      |

----

**ITEM            3. CONTROLS AND PROCEDURES **

**Part            II. Other Information**

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

----

**Item            6. Exhibits**

| 4.1    | Form                      of Private Warrant Certificate for warrants issued to investors                      in May -                      July 2005 private placements of preferred stock and warrants                      (1).                                            |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                           |
| 4.2    | Form                      of Private Warrant Certificate for warrants issued to investors                      in                      offshore placement of common stock and warrants in June and                      July 2005.                      (1)                    |
|   |                                                                                                                                                                                                                                                                           |
| 4.3    | Warrant                      Agreement dated January 28, 2005 between Continental Stock                      Transfer &                      Trust company and the Company (2).                                                                                            |
|   |                                                                                                                                                                                                                                                                           |
| 4.4    | Amendment                      dated May 5, 2005 to Warrant Agreement dated January 28, 2005                      between                      Continental Stock Transfer & Trust Company and the Company (2).                                                             |
|   |                                                                                                                                                                                                                                                                           |
| 10.1   | Form                      of Subscription/Registration rights Agreement between the Company                      and                      investors in the Company’s May - July private placements preferred stock                      and warrants of the Company (1). |
|   |                                                                                                                                                                                                                                                                           |
| 10.2*  | Agreement                      dated September 29, 2005 between the Company and AIXTEK, Inc.                      for the                      purchase and sale of communication links                                                                                        |
|   |                                                                                                                                                                                                                                                                           |
| 10.3   | Offer                      Letter by and between the Company and John Krzywicki dated                      July 8, 2005                      (2).                                                                                                                              |
|   |                                                                                                                                                                                                                                                                           |
| 31.1   | Certification                      of the Chief Executive Officer Pursuant to Rule 13a-14(a) of                      the                      Securities Exchange Act of 1934, as amended.                                                                                     |
|   |                                                                                                                                                                                                                                                                           |
| 31.2   | Certification                      of the Chief Financial Officer Pursuant to Rule 13a-14(a) of                      the                      Securities Exchange Act of 1934, as amended.                                                                                     |
|   |                                                                                                                                                                                                                                                                           |
| 32.1   | Certification                      of the Chief Executive Officer Pursuant to 18 U.S.C. Section                      1350, as                      Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act.                                                                  |
|   |                                                                                                                                                                                                                                                                           |
| 32.2   | Certification                      of the Chief Financial Officer Pursuant to 18 U.S.C. Section                      1350, as                      Adopted Pursuant to Section 906 of the Sarbanes-Oxley                      Act.                                             |

----

**Signatures**

|                                         |                                         |                                            |
|----------------------------------------------|----------------------------------------------|-------------------------------------------------|
|                                         | GigaBeam                      Corporation    |
|                                    |                                    |                                       |
| Date:                      November 14, 2005 | By:                                          | /s/                      Leighton J. Stephenson |
|                                         | Leighton                      J. Stephenson  |
|                                         | Chief                      Financial Officer |

----

**EXHIBIT            INDEX**

| 31.1   | Certification                      of Louis S. Slaughter, Chief Executive Officer, pursuant to                      Rule 13a-14(a)                      of the Securities Exchange Act of 1934, as amended.                          |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                 |
| 31.2   | Certification                      of Leighton J. Stephenson, Chief Financial Officer, pursuant                      to Rule                      13a-14(a) of the Securities Exchange Act of 1934, as                      amended. |
|   |                                                                                                                                                                                                                                 |
| 32.1   | Certification                      of Louis S. Slaughter, Chief Executive Officer, pursuant to                      Section 906 of                      the Sarbanes-Oxley Act of 2002.                                              |
|   |                                                                                                                                                                                                                                 |
| 32.2   | Certification                      of Leighton J. Stephenson, Chief Financial Officer, pursuant                      to Section                      906 of the Sarbanes-Oxley Act of                      2002.                     |

----