GigaBeam Corporation, incorporated on January 5, 2004, is a development-stage company. The Company's primary business is to design, develop, sell, lease, rent, install and service point-to-point communications links capable of transmission speeds in excess of a gigabit-per-second under the trade name WiFiber. The Company's products will initially operate in the 70 gigahertz and 80 gigahertz bands. These products will be marketed to network providers, communications and information technology (IT) service providers, government and military entities and other companies seeking to quickly and cost-effectively establish fiber-speed wireless links between two or more buildings or between a building and the fiber optic backbone in metropolitan areas. In January 2004, the Company has concentrated its efforts primarily on the design, development and engineering of its initial products, both internally and in conjunction with its strategic partners. The Company's products were commercially deployed in March 2005, when the Company installed its first GigE link for Microwave Satellite Technologies, Inc. in New York City between the Trump International Hotel & Tower. The Company began receiving orders for its GigE product and services during the year ended December 31, 2004. The GigaBeam wireless communications solution is a point-to-point, line of sight, wireless high-speed communications link established between two GigaBeam transceiver units, which are linked wirelessly through the alignment of their antennas and their transmission of data via radio signals in the 71-76 gigahertz and 81-86 gigahertz spectrum bands. The Company's transceiver units are designed to provide wireless link transmission of data at speeds equivalent to the transmission speeds obtained with fiber and to transmit that data 99.999% of the time, or with less than five minutes of unavailability or downtime per year (typically referred to as five 9s availability) in all weather conditions at distances of up to one mile. Each of the Company's transceiver units is a compact, easily deployable product designed to enable wireless transmission of data, voice and video communication, at variable fiber optic data rates and Ethernet traffic speeds. The Company's existing product and proposed family of scalable products includes the transceiver units: GigaBeam GigE unit, the Company's first product, the GigE unit, transmits data at 1.25 gigabits per second. The Company completed the Company's first installation of its GigE link in March 2005. GigaBeam OC-48 unit, this product transmits data at 2.5 gigabits per second, in conformance with OC-48 (optical carrier) standard. It is anticipated to be available during 2005. GigaBeam 10 GigE units, this product transmits data at 10 gigabits per second, in conformance with the 10 GigE standard. It is anticipated to be available during 2006. GigaBeam OC-192 unit, this product will transmit data at 9.953 gigabits per second, in conformance with OC-192 (optical carrier) standard. It is anticipated to be available during 2006. The Company will continue to seek advances in technology in the spectrum ranges, in which its products operate and in the spectrum ranges that operate from 92-95 gigahertz and, as they are opened to commercial use, in higher frequencies that may enhance its existing products. In 2004, the Company began the process of establishing a multi-channel distribution and sales network. The Company plans to sell its products directly through its internal sales force and indirectly through the distribution networks of third parties. The Company supported these sales efforts through strategic marketing relationships and public relations programs, trade shows, conferences and other marketing activities. The Company competes with Terabeam Wireless, Harris Corporation, Stratex Networks, Inc., Loea Communications Corporation, BridgeWave Communications, Inc., Proxim Corporation, Ceragon Network, Ltd. and MMDS or LMDS.