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**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 June 30, 2005 **

**OR        **

| ** ̈** | **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 June 30, 2005  and December                  31,                  2004                                                                                                                                  | 3                                        |
| Condensed                  Consolidated Statement of Operations for the three months and six                  months                  ended June 30, 2005 and the three months and period January 5,                  2004                  (inception) to June 30, 2004 | 4                                        |
| Condensed                  Consolidated Statement of Cash Flows for the six months ended June                  30,                  2005 and the period January 5, 2004 (inception) to June 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                                                                                                                       | 17                    - 22               |
| Forward                  Looking Statements and Factors That May Affect Future Financial                  Results                                                                                                                                                        | 23                                       |
|                                                                                                                                                                                                                                                                     |                                     |
| Item                4 -   Controls and Procedures                                                                                                                                                                                                              | 24                                       |
|                                                                                                                                                                                                                                                                     |                                     |
| PART                  II - OTHER                  INFORMATION                                                                                                                                                                                                            |                                     |
|                                                                                                                                                                                                                                                                     |                                     |
| Item                  1 -   Legal                  Proceedings                                                                                                                                                                                                 | 24                                       |
| Item                  2 -   Unregistered Sales of Equity Securities and                  Use of                  Proceeds                                                                                                                                      | 24                                       |
| Item                  4 -   Submission of Matters to a Vote of Security                  Holders                                                                                                                                                               | 24                                       |
| Item                6 -   Exhibits                                                                                                                                                                                                                             | 25                                       |
|                                                                                                                                                                                                                                                                     |                                     |
| SIGNATURE                                                                                                                                                                                                                                                                | 26                                       |
|                                                                                                                                                                                                                                                                     |                                     |
| EXHIBIT                  INDEX                                                                                                                                                                                                                                           | 27                                       |

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**GigaBeam        Corporation**

|                                                                                                                                                                                                                                        |   | Pro                    FormaJune                    30, 2005See                    Note 6 |        | June                    30, 2005  |   | December                    31,2004  |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------|-------------|----------------------------------------|--------|-------------------------------------------|--------|
| **ASSETS**                                                                                                                                                                                                                                  |   |                                                                                      |        |                                   |   |                                      |   |
| **Current                    assets:**                                                                                                                                                                                                      |   |                                                                                      |        |                                   |   |                                      |   |
| Cash                    and cash equivalents                                                                                                                                                                                                |   | $                                                                                         | 4,591,003   |                                   | $      | 1,086,210                                 |   | $ | 1,742,716 |   |
| Restricted                    cash                                                                                                                                                                                                          |   |                                                                                      | 160,405     |                                   |   | 160,405                                   |   |   | — |   |
| Accounts                    receivable, net                                                                                                                                                                                                 |   |                                                                                      | 132,100     |                                   |   | 132,100                                   |   |   | — |   |
| Inventories                                                                                                                                                                                                                                 |   |                                                                                      | 1,497,939   |                                   |   | 1,497,939                                 |   |   | 674,973 |   |
| Prepaid                    expenses and other current assets                                                                                                                                                                                |   |                                                                                      | 358,294     |                                   |   | 358,294                                   |   |   | 293,690 |   |
| **Total                    current assets**                                                                                                                                                                                                 |   |                                                                                      | 6,739,741   |                                   |   | 3,234,948                                 |   |   | 2,711,379 |   |
|                                                                                                                                                                                                                                        |   |                                                                                      |        |                                   |   |                                      |   |   |   |   |
|                                                                                                                                                                                                                                        |   |                                                                                      |        |                                   |   |                                      |   |   |   |   |
| Property                    and equipment, net                                                                                                                                                                                              |   |                                                                                      | 1,277,637   |                                   |   | 1,277,637                                 |   |   | 141,821 |   |
| Debt                    issuance costs, net                                                                                                                                                                                                 |   |                                                                                      | 608,613     |                                   |   | 608,613                                   |   |   | — |   |
| Deferred                    charges                                                                                                                                                                                                         |   |                                                                                      | 429,000     |                                   |   | 429,000                                   |   |   | 429,000 |   |
| Other                    assets                                                                                                                                                                                                             |   |                                                                                      | 114,287     |                                   |   | 114,287                                   |   |   | 81,273 |   |
| **Total                    assets**                                                                                                                                                                                                         |   | $                                                                                         | 9,169,278   |                                   | $      | 5,664,485                                 |   | $ | 3,363,473 |   |
|                                                                                                                                                                                                                                        |   |                                                                                      |        |                                   |   |                                      |   |   |   |   |
| **LIABILITIES                    AND STOCKHOLDERS’ EQUITY**                                                                                                                                                                           |   |                                                                                      |        |                                   |   |                                      |   |   |   |   |
|                                                                                                                                                                                                                                        |   |                                                                                      |        |                                   |   |                                      |   |   |   |   |
| Accounts                    payable                                                                                                                                                                                                         |   | $                                                                                         | 1,739,221   |                                   | $      | 1,739,221                                 |   | $ | 1,101,793 |   |
| Deferred                    revenue                                                                                                                                                                                                         |   |                                                                                      | 24,000      |                                   |   | 24,000                                    |   |   |   |   |
| Accrued                    liabilities                                                                                                                                                                                                      |   |                                                                                      | 890,425     |                                   |   | 890,425                                   |   |   | 783,167 |   |
| Current                    portion of capital lease obligation                                                                                                                                                                              |   |                                                                                      | 379,656     |                                   |   | 379,656                                   |   |   | — |   |
| **Total                    current liabilities**                                                                                                                                                                                            |   |                                                                                      | 3,033,302   |                                   |   | 3,033,302                                 |   |   | 1,884,960 |   |
| Capital                    lease obligation, non-current                                                                                                                                                                                    |   |                                                                                      | 33,129      |                                   |   | 33,129                                    |   |   | — |   |
| Convertible                    note payable, net of discount                                                                                                                                                                                |   |                                                                                      | 1,467,813   |                                   |   | 1,467,813                                 |   |   | — |   |
| **Total                    liabilities**                                                                                                                                                                                                    |   |                                                                                      | 4,534,244   |                                   |   | 4,534,244                                 |   |   | 1,884,960 |   |
|                                                                                                                                                                                                                                        |   |                                                                                      |        |                                   |   |                                      |   |   |   |   |
| **Stockholders’                    equity**                                                                                                                                                                                           |   |                                                                                      |        |                                   |   |                                      |   |   |   |   |
| Series                    A redeemable Preferred Stock, $.001 par value, authorized 20,000                    shares;                    issued and outstanding 5,768 shares at 6/30/05                                                     |   |                                                                                      | 12          |                                   |   | 6                                         |   |   | — |   |
| Common                    stock, $.001 par value, authorized  40,000,000                    shares; issued and outstanding  4,849,340                    shares at 6/30/05; 4,603,440 shares  at                    12/31/04 |   |                                                                                      | 4,872       |                                   |   | 4,849                                     |   |   | 4,603 |   |
| Additional                    paid in capital                                                                                                                                                                                               |   |                                                                                      | 19,801,813  |                                   |   | 16,297,049                                |   |   | 9,024,121 |   |
| Deferred                    compensation                                                                                                                                                                                                    |   |                                                                                      | (37,993     | )                                      |   | (37,993                                   | )      |   | (45,211 | ) |
| Accumulated                    deficit                                                                                                                                                                                                      |   |                                                                                      | (15,133,670 | )                                      |   | (15,133,670                               | )      |   | (7,505,000 | ) |
| **Total                    stockholders’ equity**                                                                                                                                                                                     |   |                                                                                      | 4,635,034   |                                   |   | 1,130,241                                 |   |   | 1,478,513 |   |
| **Total                    liabilities and stockholders’ equity**                                                                                                                                                                     |   | $                                                                                         | 9,169,278   |                                   |   | 5,664,485                                 |   | $ | 3,363,473 |   |

*See        unaudited notes to consolidated condensed financial        statements.*

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**GigaBeam        Corporation**

|                                                                       |   |  **Three                  Months Ended****June                  30** |       |  **Six                  Months Ended****June                  30** |   | **January                  5, 2004 (inception) to** **June                  30** |   |
|----------------------------------------------------------------------------|--------|---------------------------------------------------------------------------|------------|-------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------|--------|
|                                                                       |   |  2005                                                                |       | 2004                                                                    |   | 2005                                                                                  |   | 2004 |   |
|                                                                       |   |                                                                      |       |                                                                    |   |                                                                                  |   |   |   |
| **Net                  Sales**                                             |   | $                                                                         | 108,200    |                                                                    | $      | —                                                                               |   | $ | 108,200 |   | $ | — |   |
| Cost                  of Sales                                             |   |                                                                      | 160,865    |                                                                    |   | —                                                                               |   |   | 160,865 |   |   | — |   |
| Gross                  Margin                                              |   |                                                                      | (52,665    | )                                                                       |   | —                                                                               |   |   | (52,665 | ) |   | — |   |
|                                                                       |   |                                                                      |       |                                                                    |   |                                                                                  |   |   |   |   |   |   |   |
| **Operating                  expenses:**                                   |   |                                                                      |       |                                                                    |   |                                                                                  |   |   |   |   |   |   |   |
| Research                  and development                                  |   |                                                                      | 1,472,128  |                                                                    |   | 1,201,716                                                                             |   |   | 2,778,910 |   |   | 1,637,740 |   |
| General                  and administrative                                |   |                                                                      | 1,188,046  |                                                                    |   | 212,228                                                                               |   |   | 1,962,000 |   |   | 551,188 |   |
| Selling                  and marketing                                     |   |                                                                      | 678,038    |                                                                    |   | 166,897                                                                               |   |   | 1,189,895 |   |   | 242,324 |   |
| Link                  operations                                           |   |                                                                      | 273,839    |                                                                    |   | —                                                                               |   |   | 391,316 |   |   | — |   |
| Total                  operating expenses                                  |   |                                                                      | 3,612,051  |                                                                    |   | 1,580,841                                                                             |   |   | 6,322,121 |   |   | 2,431,252 |   |
| Operating                  loss                                            |   |                                                                      | (3,664,716 | )                                                                       |   | (1,580,841                                                                            | )      |   | (6,374,786 | ) |   | (2,431,252 | ) |
|                                                                       |   |                                                                      |       |                                                                    |   |                                                                                  |   |   |   |   |   |   |   |
| Other                  income (expense):                                   |   |                                                                      |       |                                                                    |   |                                                                                  |   |   |   |   |   |   |   |
| Interest                  income                                           |   |                                                                      | 1,621      |                                                                    |   | —                                                                               |   |   | 6,250 |   |   | — |   |
| Interest                  expense                                          |   |                                                                      | (229,678   | )                                                                       |   | (122,911                                                                              | )      |   | (1,259,557 | ) |   | (160,852 | ) |
| Other                  expense, net                                        |   |                                                                      | (579       | )                                                                       |   | —                                                                               |   |   | (579 | ) |   | — |   |
| **Total                  other (expenses), net**                           |   |                                                                      | (228,636   | )                                                                       |   | (122,911                                                                              | )      |   | (1,253,886 | ) |   | (160,852 | ) |
|                                                                       |   |                                                                      |       |                                                                    |   |                                                                                  |   |   |   |   |   |   |   |
| **Net                  loss**                                              |   | $                                                                         | (3,893,352 | )                                                                       | $      | (1,703,752                                                                            | )      | $ | (7,628,672 | ) | $ | (2,592,104 | ) |
|                                                                       |   |                                                                      |       |                                                                    |   |                                                                                  |   |   |   |   |   |   |   |
| **Basic                  and diluted loss per share**                      |   | $                                                                         | (0.81      | )                                                                       | $      | (0.65                                                                                 | )      | $ | (1.62 | ) | $ | (.99 | ) |
|                                                                       |   |                                                                      |       |                                                                    |   |                                                                                  |   |   |   |   |   |   |   |
| **Basic                  and diluted weighted average shares outstanding** |   |                                                                      | 4,780,109  |                                                                    |   | 2,621,990                                                                             |   |   | 4,708,647 |   |   | 2,611,546 |   |

*See        unaudited notes to condensed consolidated financial        statements.*

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|                                                                                                           |   | Six                  Months Ended |       | January                  5, 2004(inception)                  to |   |
|----------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|------------|-----------------------------------------------------------------|--------|
|                                                                                                           |   | June                  30, 2005    |       | June                  30, 2004                                  |   |
|                                                                                                           |   |                              |       |                                                            |   |
| **Cash                  flows from operating activities:**                                                     |   |                              |       |                                                            |   |   |   |
| Net                  loss                                                                                      |   | $                                 | (7,628,672 | )                                                               | $      | (2,592,104 | ) |
| 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                                |   |                              | 882,261    |                                                            |   | — |   |
| Non-cash                  interest expense                                                                     |   |                              | —    |                                                            |   | — |   |
| Depreciation                  and amortization                                                                 |   |                              | 199,122    |                                                            |   | 4,445 |   |
| Non-cash                  compensation  expenses                                                          |   |                              | 94,700     |                                                            |   | (52,429 | ) |
| Changes                  in operating assets and liabilities:                                                  |   |                              |            |                                                            |   |   |   |
| Accounts                  Receivable                                                                           |   |                              | (132,100   | )                                                               |   | — |   |
| Inventory                                                                                                      |   |                              | (822,966   | )                                                               |   | — |   |
| Prepaid                  expenses and other current                  assets                                    |   |                              | (30,515    | )                                                               |   | (101,454 | ) |
| Deferred                  charges                                                                              |   |                              |       |                                                            |   | (429,000 | ) |
| Accounts                  payable                                                                              |   |                              | 637,428    |                                                            |   | 184,284 |   |
| Accrued                  liabilities                                                                           |   |                              | 97,165     |                                                            |   | 406,066 |   |
| **Net                  cash used for operating activities**                                                    |   |                              | (6,608,577 | )                                                               |   | (2,580,192 | ) |
|                                                                                                           |   |                              |       |                                                            |   |   |   |
| Cash                  flows used for investing activities:                                                     |   |                              |       |                                                            |   |   |   |
| Investing                  in notes receivable                                                                 |   |                              | (95,000    | )                                                               |   | — |   |
| Purchases                  of property and equipment                                                           |   |                              | (735,245   | )                                                               |   | (34,939 | ) |
| Restricted                  cash                                                                               |   |                              | (160,405   | )                                                               |   | — |   |
| Acquisition                  of patents & intangibles                                                      |   |                              | (31,700    | )                                                               |   | — |   |
| Deposits                                                                                                       |   |                              | (3,685     | )                                                               |   | — |   |
| **Net                  cash used for investing activities**                                                    |   |                              | (1,026,035 | )                                                               |   | (34,939 | ) |
|                                                                                                           |   |                              |       |                                                            |   |   |   |
| Cash                  flows provided by financing activities:                                                  |   |                              |       |                                                            |   |   |   |
| Issuance                  of common stock, net of costs                                                        |   |                              | —    |                                                            |   | 785,439 |   |
| Issuance                  of redeemable preferred stock; net of costs                                          |   |                              | 3,835,552  |                                                            |   | — |   |
| Proceeds                  from notes payable, net                                                              |   |                              | —    |                                                            |   | 2,211,168 |   |
| Repayments                  of capital lease                                                                   |   |                              | (77,796    | )                                                               |   | — |   |
| Issuance                  of convertible debt, net                                                             |   |                              | 2,332,055  |                                                            |   | — |   |
| Exercise                  of warrants                                                                          |   |                              | 888,295    |                                                            |   | — |   |
| **Net                  cash provided by financing activities**                                                 |   |                              | 6,978,106  |                                                            |   | 2,996,607 |   |

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|                                                                                                        |   | Six                  Months Ended |      | January                    5, 2004(inception) to |   |
|-------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|-----------|--------------------------------------------------|--------|
|                                                                                                        |   | June                  30, 2005    |      | June                  30, 2004                   |   |
| Net                  increase (decrease) in cash and cash equivalents                                       |   | $                                 | (656,506  | )                                                | $      | 381,476 |   |
|                                                                                                        |   |                              |      |                                             |   |   |   |
| Cash                  and cash equivalents at the beginning of the period                                   |   |                              | 1,742,716 |                                             |   | — |   |
| Cash                  and cash equivalents at the end of the period                                         |   | $                                 | 1,086,210 |                                             | $      | 381,476 |   |
|                                                                                                        |   |                              |      |                                             |   |   |   |
| **Supplemental                  disclosures:**                                                              |   |                              |      |                                             |   |   |   |
| Interest                  Paid                                                                              |   | $                                 | 23,038    |                                             | $      | — |   |
| 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 |                                             | $      | 1,194,761 |   |
| Issuance                  of warrants in connection with redeemable preferred stock                         |   | $                                 | 385,552   |                                             | $      | — |   |
| Issuance                  of warrants and options in connection with debt issue                  costs      |   | $                                 | 384,835   |                                             | $      | 384,835 |   |
| Capital                  lease obligation incurred to finance the purchase of                  equipment    |   | $                                 | 524,832   |                                             | $      | — |   |

*See        unaudited notes to consolidated condensed financial        statements.*

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

*GigE*

*GigE*

*Basis        of Presentation*

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*Cash        and Cash Equivalents*

*Concentration        of Credit Risk*

*Inventories*

*Prepaid            Expenses and*
*Other            Current Assets*

|                                             |   |    | June                    30, 2005  |   |    | December                    31, 2004 |   |
|--------------------------------------------------|--------|---------|----------------------------------------|--------|---------|--------------------------------------|--------|
| Prepaid                  Contract Expenses  |   | $  |  250,000                          |   | $  |  250,000                        |   |
| Prepaid                    Insurance             |   | $       | 19,755                                 |   | $       | 10,865                               |   |
| Other                    Prepaid Expenses        |   |    | 54,450                                 |   |    | 32,825                               |   |
|                                             |   | $       | 324,205                                |   | $       | 293,690                              |   |

*Property        and Equipment*

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*Accrued        Liabilities*

|                                              |   |  June                    30, 2005 |    |  December                    31, 2004 |   |
|---------------------------------------------------|--------|----------------------------------------|---------|--------------------------------------------|--------|
|                                              |   |                              |    |                                  |   |
| Estimated                    contract based costs |   | $                                      | 370,639 |                                       | $      | 456,630 |   |
| Accrued                    interest payable       |   |                                   | 84,942  |                                       |   | — |   |
| Accrued                    payroll and benefits   |   |                                   | 414,469 |                                       |   | 216,605 |   |
| Accrued                    warranty               |   |                                   | 3,000   |                                       |   | — |   |
| Other                                             |   |                                   | 17,375  |                                       |   | 109,932 |   |
|                                              |   | $                                      | 890,425 |                                       | $      | 783,167 |   |

*Revenue        Recognition*

*Research,        Engineering and Development*

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*Net        Loss Per Share*

|                                                 |   | Number                  of Shares |
|------------------------------------------------------|--------|-----------------------------------|
| Notes                  convertible into common stock |   | 312,500                           |
|                                                 |   |                              |
| Options                  to purchase common stock    |   | 722,110                           |
|                                                 |   |                              |
| Warrants                  to purchase common stock   |   | 2,090,571                         |

*Income        Taxes*

*Use        of Estimates*

*Stock-Based        Compensation*

----

|                                                                                                                                                      |   | For                  the six months                  ended June                  30, 2005   |       |  For                  the Period January 5, 2004                  inception) to June 30, 2004 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------|------------|----------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                      |   |                                                                                                  |       |                                                                                               |   |
| Net                  loss as reported                                                                                                                     |   | $                                                                                                     | (7,628,672 | )                                                                                                  | $      | (2,592,104 | ) |
|                                                                                                                                                      |   |                                                                                                  |       |                                                                                               |   |   |   |
| Less:                  Stock-based employee compensation determined                  under the intrinsic value method for                  all awards     |   |                                                                                                  | 7,218      |                                                                                               |   | 5,300 |   |
|                                                                                                                                                      |   |                                                                                                  |       |                                                                                               |   |   |   |
| Add:                  Stock-based employee compensation expense                  determined under fair value based method                  for all awards |   |                                                                                                  | (270,559   | )                                                                                                  |   | (17,189 | ) |
|                                                                                                                                                      |   |                                                                                                  |       |                                                                                               |   |   |   |
| Pro                  forma net loss                                                                                                                       |   | $                                                                                                     | (7,892,013 | )                                                                                                  | $      | (2,603,993 | ) |
|                                                                                                                                                      |   |                                                                                                  |       |                                                                                               |   |   |   |
| Pro                  forma net loss per share, basic and dilutive                                                                                         |   | $                                                                                                     | (1.68      | )                                                                                                  | $      | (1.00 | ) |
|                                                                                                                                                      |   |                                                                                                  |       |                                                                                               |   |   |   |
| Weighted                  average shares outstanding, basic and                  diluted                                                                  |   |                                                                                                  | 4,708,647  |                                                                                               |   | 2,611,546 |   |

| Black-Scholes                  Assumptions:     |                    |
|-------------------------------------------------|-------------------------|
| Expected                  volatility            | 85%                     |
| Risk                  free interest rate        | 3.70%                   |
| Dividend                  yield                 | 0%                      |
| Expected                  life (range in years) | 4                  yrs. |

*Recent        Accounting Pronouncements*

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| ·   | 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. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                    |   | June                  30, 2005 |      | December                  31, 2004 |   |
|---------------------------------------------------------|--------|--------------------------------|-----------|------------------------------------|--------|
|                                                    |   |                           |      |                               |   |
| Equipment                  - Engineering and production |   | $                              | 917,870   |                               | $      | 93,313 |   |
| Office                  and computer equipment          |   |                           | 158,654   |                               |   | 41,450 |   |
| Leasehold                  improvements                 |   |                           | 122,394   |                               |   | — |   |
| Engineering                  software development cost  |   |                           | 108,156   |                               |   | 3,888 |   |
| Demo                  equipment and spares              |   |                           | 34,500    |                               |   | — |   |
| Other                                                   |   |                           | 36,843    |                               |   | 13,940 |   |
|                                                    |   |                           | 1,378,417 |                               |   | 152,591 |   |
| Less                  accumulated depreciation          |   |                           | (100,780  | )                                  |   | (10,770 | ) |
|                                                    |   | $                              | 1,277,637 |                               | $      | 141,821 |   |

|                                            |   | June                  30, 2005 |    | December                  31, 2004 |   |
|-------------------------------------------------|--------|--------------------------------|---------|------------------------------------|--------|
|                                            |   |                           |    |                               |   |
| Machinery                  and office equipment |   | $                              | 524,832 |                               | $      | — |   |
| Accumulated                  amortization       |   |                           | (36,196 | )                                  |   | — |   |
|                                            |   | $                              | 488,636 |                               |   | — |   |

----

|                                     |   | June                  30, 2005 |       | December                  31, 2004 |   |
|------------------------------------------|--------|--------------------------------|------------|------------------------------------|--------|
|                                     |   |                           |       |                               |   |
| 8%                  senior notes payable |   | $                              | 2,500,000  |                               | $      | — |   |
| Less                  discount           |   |                           | (1,032,187 | )                                  |   | — |   |
|                                     |   | $                              | 1,467,813  |                               | $      | — |   |

----

| Year                  ended December 31,                 |   |   |     |
|----------------------------------------------------------|--------|--------|----------|
| 2005                                                     |   | $      | 184,964  |   |
| 2006                                                     |   |   | 227,904  |   |
| 2007                                                     |   |   | 23,357   |   |
| 2008                                                     |   |   | 10,648   |   |
| Total                  payment obligation                |   |   | 446,873  |   |
| Less                  amount representing interest       |   |   | (34,088  | ) |
| Present                  value of net minimum obligation |   |   | 412,785  |   |
| Less                  current portion                    |   |   | (379,656 | ) |
| Non                  current portion                     |   | $      | 33,129   |   |

----

|                                                            |   |    June                  30, 2005 |      | Preferred                  and Common Shares Issued Subsequent to June                  30, 2005 |   |  Pro                  Forma June                  30, 2005 |   |
|-----------------------------------------------------------------|--------|--------------------------------------------------|-----------|--------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------|--------|
| **ASSETS**                                                      |   |                                             |           |                                                                                             |   |                                                            |   |   |   |   |
| **Current                  assets:**                            |   |                                             |      |                                                                                             |   |                                                            |   |   |   |   |
| Cash                  and cash equivalents                      |   | $                                                | 1,086,210 |                                                                                             | $      | 3,504,793                                                       |   | $ | 4,591,003 |   |
| Restricted                  cash                                |   |                                             | 160,405   |                                                                                             |   | —                                                         |   |   | 160,405 |   |
| Accounts                  receivable, net                       |   |                                             | 132,100   |                                                                                             |   | —                                                         |   |   | 132,100 |   |
| Inventories                                                     |   |                                             | 1,497,939 |                                                                                             |   | —                                                         |   |   | 1,497,939 |   |
| Prepaid                  expenses and other current assets      |   |                                             | 358,294   |                                                                                             |   | —                                                         |   |   | 358,294 |   |
| **Total                  current assets**                       |   |                                             | 3,234,948 |                                                                                             | $      | 3,504,793                                                       |   |   | 6,739,741 |   |
|                                                                 |   |                                             |      |                                                                                             |   |                                                            |   |   |   |   |
|                                                                 |   |                                             |      |                                                                                             |   |                                                            |   |   |   |   |
| Property                  and equipment, net                    |   |                                             | 1,277,637 |                                                                                             |   | —                                                         |   |   | 1,277,637 |   |
| Debt                  issuance costs, net                       |   |                                             | 608,613   |                                                                                             |   | —                                                         |   |   | 608,613 |   |
| Deferred                  charges                               |   |                                             | 429,000   |                                                                                             |   | —                                                         |   |   | 429,000 |   |
| Other                  assets                                   |   |                                             | 114,287   |                                                                                             |   | —                                                         |   |   | 114,287 |   |
| **Total                  assets**                               |   | $                                                | 5,664,485 |                                                                                             | $      | 3,504,793                                                       |   | $ | 9,169,278 |   |
|                                                            |   |                                             |      |                                                                                             |   |                                                            |   |   |   |   |
| **LIABILITIES                  AND STOCKHOLDERS’ EQUITY** |   |                                             |      |                                                                                             |   |                                                            |   |   |   |   |
|                                                            |   |                                             |      |                                                                                             |   |                                                            |   |   |   |   |
| **Current                  liabilities:**                       |   |                                             |      |                                                                                             |   |                                                            |   |   |   |   |
| Accounts                  payable                               |   | $                                                | 1,739,221 |                                                                                             |   | —                                                         |   | $ | 1,739,221 |   |
| Deferred                  revenue, net of related costs         |   |                                             | 24,000    |                                                                                             |   | —                                                         |   |   | 24,000 |   |
| Accrued                  liabilities                            |   |                                             | 890,425   |                                                                                             |   | —                                                         |   |   | 890,425 |   |
| Current                  portion of capital lease obligation    |   |                                             | 379,656   |                                                                                             |   | —                                                         |   |   | 379,656 |   |
| **Total                  current liabilities**                  |   |                                             | 3,033,302 |                                                                                             |   | —                                                         |   |   | 3,033,302 |   |
| Capital                  lease obligation, non-current          |   |                                             | 33,129    |                                                                                             |   | —                                                         |   |   | 33,129 |   |
| Convertible                  note payable, net of discount      |   |                                             | 1,467,813 |                                                                                             |   | —                                                         |   |   | 1,467,813 |   |
| **Total                  liabilities**                          |   |                                             | 4,534,244 |                                                                                             |   | —                                                         |   |   | 4,534,244 |   |

----

|                                                                                                                                                                                             |   |    June                  30, 2005 |        | Preferred                  and Common Shares Issued Subsequent to June                  30, 2005 |   | Pro                  FormaJune                  30, 2005 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------|-------------|--------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------|--------|
| **Stockholders’                  equity**                                                                                                                                                  |   |                                             |        |                                                                                             |   |                                                     |   |   |   |   |
| Series                  A redeemable Preferred Stock, $.001 par value, authorized 20,000                  shares;                  issued and outstanding 5,768 shares at 6/30/05                |   |                                             | 6           |                                                                                             |   | 6                                                        |   |   | 12 |   |
| Common                  stock, $.001 par value, authorized 40,000,000 shares; issued and                  outstanding 4,849,340 shares at 6/30/05; 4,603,440 shares at                  12/31/04 |   |                                             | 4,849       |                                                                                             |   | 23                                                       |   |   | 4,872 |   |
| Additional                  paid in capital                                                                                                                                                      |   |                                             | 16,297,049  |                                                                                             |   | 3,504,764                                                |   |   | 19,801,813 |   |
| Deferred                  compensation                                                                                                                                                           |   |                                             | (37,993     | )                                                                                                |   |                                                     |   |   | (37,993 | ) |
| Accumulated                  deficit                                                                                                                                                             |   |                                             | (15,133,670 | )                                                                                                |   |                                                     |   |   | (15,133,670 | ) |
| **Total                  stockholders’ equity**                                                                                                                                            |   |                                             | 1,130,241   |                                                                                             |   | 3,504,793                                                |   |   | 4,635,034 |   |
| **Total                  liabilities and stockholders’ equity**                                                                                                                            |   | $                                                | 5,664,485   |                                                                                             | $      | 3,504,793                                                |   | $ | 9,169,278 |   |

----

**ITEM        2. MANAGEMENT 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 institututional 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,                  200. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A                  private offering of our 10% series A 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. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

*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** |       |  **Six                    Months Ended** |   |
|-----------------------------------------|--------|--------------------------------------|------------|-----------------------------------------------|--------|
|                                    |   | **June                    30,**      |       | **June                    30,**               |   |
|                                    |   | ** ****2005**** **         |       | **2004**                                      |   | ** ****2005**** ** |   |  **2004** |   |
|                                    |   |                                 |       |                                          |   |   |   |   |   |
| Revenue                                 |   | $                                    | 108,200    |                                          | $      | — |   | $ | 108,200 |   | $ | — |   |
| Gross                    Margin         |   |                                 | (1         | )                                             |   | — |   |   | (1 | ) |   | — |   |
| Loss                    from Operations |   | $                                    | (3,664,716 | )                                        | $      | (1,580,841 | ) | $ | (6,340,286 | ) | $ | (2,431,252 | ) |
| *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        *

***General        and administrative.***

----

**LIQUIDITY        AND CAPITAL RESOURCES**

**Cash        Flows**

|                                                                              |   | **Six                    Months Ended**        |       |
|-----------------------------------------------------------------------------------|--------|------------------------------------------------|------------|
|                                                                              |   | ** ****June                    30, 2005** |       | ** ****June                    30, 2004** |   |
|                                                                              |   |                                           |       |   |   |
| Net                    cash used by operating activities                          |   | $                                              | (6,608,577 | ) | $ | (2,580,192 | ) |
| Net                    cash used in investing activities                          |   |                                           | (1,026,035 | ) |   | (34,939 | ) |
| Net                    cash provided by finance activities                        |   |                                           | 6,978,106  |   |   | 2,996,607 |   |
| Net                    Increase (decrease) in cash and cash equivalents** ** |   | $                                              | (656,506   | ) | $ | 381,476 |   |

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

***Net        cash used in operating activities.***        Our net        cash used in operating activities was $6,608,577 for the six months ended        June        30, 2005, compared to a net use of cash of $2,580,192 in the first six months        of        2004. The Company was primarily in a formative stage in the first six months,        and indeed, in the entire year of 2004, dating from its inception as of January        5, 2005. The significant use of cash in the six months ended June 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 product lines over the period. We expect the product        development costs to continue at high levels for at least the next 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 $822,966 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 $1,962,000 during the first six 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        *

----

**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;                                                                                                                                                                                                                                                                                                                                                    |
| • | Our                        ability to achieve successful resolution of patent infringement                        and other                        intellectual property claims;                                                                                                                                                                                                                                                                                                                                           |
| • | 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        4. CONTROLS AND PROCEDURES **

**Part        II. Other Information**

**Item        1. Legal Proceedings**

**Item        2. Changes in Securities and Use of Proceeds**

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

----

**Item        6. Exhibits**

| 3.1    | Certificate                    of Designation of the 10% Series A Redeemable Preferred Stock                    of the                    Company (1).                                                                                                                   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                     |
| 4.1    | Form                    of Private Warrant Certificate for warrants issued to investors                    in May -                    June 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.                                               |
|   |                                                                                                                                                                                                                                                                     |
| 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 and June private placements preferred stock                    and warrants of the Company (1). |
|   |                                                                                                                                                                                                                                                                     |
| 10.2   | Consulting                    Agreement dated June 1, 2005 by and between the Company and RTEM                    LLC                    (2).                                                                                                                            |
|   |                                                                                                                                                                                                                                                                     |
| 10.3   | Offer                    Letter by and between the company and John Krzywicki dated July                    8, 2005                    (2).                                                                                                                              |
|   |                                                                                                                                                                                                                                                                     |
| 10.4   | Compensation                    terms for Leighton Stephenson.                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                     |
| 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 Principal Financial Office 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 Principal 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: August                17, 2005 | By:                          | /s/ Leighton                J. Stephenson |
|                                      | Leighton                J. Stephenson  |
|                                      | Chief                Financial Officer |

----

**EXHIBIT          INDEX**

| 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. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                               |
| 10.4   | Compensation                      Terms for Leighton J. Stephenson.                                                                                                                                                                |
|   |                                                                                                                                                                                                                               |
| 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                      2003.                |

----