Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On May 18, 2009, Speedus Corp. (the "Company") received written notification from The Nasdaq Stock Market advising the Company that it no longer complies with Nasdaq's Marketplace Rule 5250(c)(1) since it has not yet filed its Form 10-Q for the period ended March 31, 2009. This notification has no effect on the listing of the Company's common stock at this time.

Nasdaq has provided the Company until July 14, 2009 to submit its plan to regain compliance with the rule. If, after conclusion of its review process, Nasdaq determines that the plan is acceptable, the Company will have until October 13, 2009 to regain compliance. If Nasdaq determines that the plan is not acceptable, the Company will receive notification that its common stock will be delisted from The Nasdaq Stock Market. At that time, the Company may appeal the delisting determination to a Listing Qualifications Panel.

The Company expects that it will file its Form 10-Q for the period ended March 31, 2009 before July 14, 2009, which filing will regain compliance with the rule.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits.

99.1 Press release dated May 22, 2009

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