1002520--3/31/2008--SPEEDUS

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Risks related to our business generally Although we have been a public company since February 1996, we have reoriented our business several times and our current business has not generated any significant revenues to date. We have recorded operating losses in each reporting period since our inception and may never be profitable. Our existing operations and infrastructure may not be adequate to manage the growth necessary for successful implementation of our business plan. Shant S. Hovnanian, Vahak S. Hovnanian and trusts controlled by members of the Hovnanian family, who in the aggregate own approximately 41% of our Common Stock, may have the power acting together to control the direction and future operations of our company. Our stock price has historically been volatile, which may make it more difficult for you to resell shares when you want at prices you find attractive. Sales of shares of Common Stock by Shant S. Hovnanian and Vahak S. Hovnanian could adversely affect the market price of the Common Stock. Risks related to certain short-term investments Securities that we invest in are subject to market price risks. The Company is seeking to eliminate the risk that it could be deemed to be an investment company. Risks related to investments in other companies Ability to successfully identify investment opportunities The value of our business may fluctuate because of companies that we may invest in. Risks related to medical device companies Risks related to government regulation and future regulatory requirements We could be exposed to significant liability claims. Health care providers may not be able to obtain adequate levels of third-party reimbursement. The medical device industry is characterized by rapid technological changes and advances. We may rely on third parties to support the manufacture or commercialization of our products. Risks related to our high-speed Internet access service We may be unable to solve ongoing technical difficulties in our deployment and equipment for our high-speed Internet access service is not, and may never be, available at a cost and with performance levels that allow for commercial implementation on an economically attractive basis. Many financially stronger competitors with broader market coverage are offering high-speed Internet access .

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1002520--3/31/2008--SPEEDUS_CORP