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   &lt;div align="left" style="font-size: 10pt; margin-top: 12pt"&gt;&lt;b&gt;1. Description of Business and Basis of Presentation&lt;/b&gt;
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   &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The accompanying condensed consolidated financial statements should be read in conjunction
   with the consolidated financial statements contained in our 2009 Annual Report on Form 10-K. In the
   opinion of management, all adjustments consisting of normal recurring accruals necessary for a fair
   presentation have been included. The results for the three and six months ended June&amp;#160;30, 2010 and
   2009 do not necessarily indicate the results that may be expected for the full year.
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   &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We are focused on the deployment and operation of the first nationwide 4G mobile broadband
   network to provide a true mobile broadband experience for consumers, small businesses, medium and
   large enterprises and educational institutions. We expect to deploy our mobile Worldwide
   Interoperability for Microwave Access, which we refer to as WiMAX, technology based on the IEEE
   802.16e standard, in our planned markets using 2.5 GHz Federal Communications Commission, which we
   refer to as FCC, licenses.
   &lt;/div&gt;
   &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We are at an early stage of implementing our business strategy. We intend to invest
   significantly in our business before we expect cash flows from operations to be adequate to cover
   our operating financing and capital needs. Based on our current projections, we will need to raise
   additional capital in the near term in order to maintain our current business plans. If we are
   unable to raise sufficient additional capital to meet our near or long-term capital needs, we will
   be required to curtail our current plans and/or to forego opportunities to enhance our plans.
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 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 94-6
 -Paragraph 10

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