UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): October 20, 2009
SPEEDUS
CORP.
(Exact
name of registrant as specified in charter)
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Delaware
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000-27582
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13-3853788
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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1
Dag Hammarskjold Blvd.
Freehold,
New Jersey
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07728
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(888)-773-3669
Not
Applicable
(Former
name or former address, if changed from last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
Company
received notification on October 14, 2009 that Nasdaq Capital Market requires
that Company comply with the Nasdaq Listing Rule 5550 which includes
requirements that Company have either a minimum $2.5 million in stockholders'
equity, a $35 million market capitalization or $500,000 of net income from
continuing operations for the most recently completed fiscal year or two of the
three most recently completed fiscal years. Company will submit a plan to regain
compliance with this rule by October 29, 2009. If the plan is accepted by
Nasdaq, Nasdaq has the authority to allow up to 105 days from October 14, 2009,
the date of the original notification, for Company to regain
compliance.
Item
8.01 Other Events
Company
today announced that on October 13th, 2009, it filed its Form 10-K for the year
ended December 31, 2008, its Form 10-Q for the period ended March 31, 2009, and
its Form 10-Q for the period ended June 30, 2009. As a result of these
filings, Company received a letter from Nasdaq indicating that Company is now
compliant with Nasdaq's Marketplace Rule 5250(c)(1). Accordingly, this matter is
now closed.
Item
8.01 Other Events
Company
is making an announcement to comply with Nasdaq Marketplace Rule 4350(b)(1)(B)
which requires separate disclosure of receipt of an audit opinion containing a
going concern emphasis. This announcement does not represent any change or
amendment to the Company`s financial statements or to its Annual Report on Form
10-K for the year ended December 31, 2008. The consolidated financial statements
of the Company do not include any adjustments related to the going concern
opinion and have been prepared under the assumption that the Company will
continue as a going concern.
Item
9.01 Financial Statements and Exhibits
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99.1
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Press
release dated October 20, 2009
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Speedus
Corp.
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By:
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/s/ John Kallassy
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Name:
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John
Kallassy
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Title:
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Chief
Financial Officer
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Date:
October 20, 2009
EXHIBITS
INDEX
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Exhibit
Number
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Title of Document
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Press
release dated October 20, 2009
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