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<SEC-DOCUMENT>0000897069-06-001173.txt : 20060428
<SEC-HEADER>0000897069-06-001173.hdr.sgml : 20060428
<ACCEPTANCE-DATETIME>20060428165116
ACCESSION NUMBER:		0000897069-06-001173
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20060428
DATE AS OF CHANGE:		20060428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WIDEPOINT CORP
		CENTRAL INDEX KEY:			0001034760
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				522040275
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-121858
		FILM NUMBER:		06790848

	BUSINESS ADDRESS:	
		STREET 1:		ONE LINCOLN CENTER
		CITY:			OAKBROOK TERRACE
		STATE:			IL
		ZIP:			60181
		BUSINESS PHONE:		630-629-0003

	MAIL ADDRESS:	
		STREET 1:		ONE LINCOLN CENTER
		CITY:			OAKBROOK TERRACE
		STATE:			IL
		ZIP:			60181

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZMAX CORP
		DATE OF NAME CHANGE:	19970530
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS AM
<SEQUENCE>1
<FILENAME>cmw2151.htm
<DESCRIPTION>POST EFFECTIVE AMENDMENT NO. 1
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>As filed with the
Securities And Exchange Commission on April 28, 2006 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Default" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><B>Registration No.
333-121858 </B></FONT><HR WIDTH=100% SIZE=3 color=black NOSHADE></P>


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     <HR ALIGN=LEFT WIDTH=100% SIZE=1 color=black NOSHADE>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES AND
EXCHANGE COMMISSION  <BR>WASHINGTON, D.C. 20549  </FONT></H1>

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     <P ALIGN=CENTER>_________________ </P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Post-Effective
Amendment No. 1 <BR>to <BR>FORM S-1 <BR>REGISTRATION STATEMENT <BR>UNDER <BR>THE SECURITIES ACT OF 1933  </FONT></P>

<!-- MARKER FORMAT-SHEET="Center Rule" FSL="Default" -->
     <P ALIGN=CENTER>_________________ </P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>WIDEPOINT CORPORATION</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Exact Name of Registrant as Specified in Its Charter)</FONT></TD></TR>
</TABLE>
<BR>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=34% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1><B>Delaware</B></FONT></TD>
     <TD WIDTH=33% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1><B>7373</B></FONT></TD>
     <TD WIDTH=33% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1><B>52-2040275</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(State or other jurisdiction of</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Primary Standard Industrial</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(I.R.S. Employer</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>incorporation or organization)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Classification Code Number)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Identification No.)</FONT></TD></TR>
</TABLE>




<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1><B>One Lincoln Centre
<BR>Oakbrook Terrace, Illinois 60181 <BR>(630) 629-0003</B> <BR>(Address, Including Zip Code, and
Telephone Number, <BR>Including Area Code, of Registrant&#146;s Principal Executive Offices)  </FONT></P>

<!-- MARKER FORMAT-SHEET="Center Rule" FSL="Default" -->
     <P ALIGN=CENTER>_________________ </P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1><B>Steve L. Komar
<BR>Chairman, President and Chief Executive Officer <BR>WidePoint Corporation <BR>One Lincoln Centre
<BR>Oakbrook Terrace, Illinois 60181 <BR>(630) 629-0003</B> <BR>(Name, Address, Including Zip Code, And
Telephone Number, <BR>Including Area Code, of Agent For Service)  </FONT></P>

<!-- MARKER FORMAT-SHEET="Center Rule" FSL="Default" -->
     <P ALIGN=CENTER>_________________ </P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Copies to: </I> </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Arthur H. Bill, Esq.
<BR>Thomas L. James, Esq. <BR>Foley &amp; Lardner LLP <BR>3000 K Street, N.W., Suite 500 <BR>Washington,
DC 20007 <BR>(202) 672-5300  </FONT></P>

<!-- MARKER FORMAT-SHEET="Center Rule" FSL="Default" -->
     <P ALIGN=CENTER>_________________ </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Approximate date of commencement of
proposed sale to the public:</I> As soon as practicable after this registration statement
becomes effective. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any of the securities being registered on this form are to be offered on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the
following box. <img src="ballotx.jpg"></FONT></P>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this form is filed to register additional securities for an offering pursuant to Rule
462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the
same offering. <img src="ballot.jpg"></FONT></P>



<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities
Act, check the following box and list the Securities Act registration statement number of
the earlier effective registration statement for the same offering. <img src="ballot.jpg"></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities
Act, check the following box and list the Securities Act registration statement number of
the earlier effective registration statement for the same offering. <img src="ballot.jpg"></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WidePoint
hereby amends this Registration Statement on such date or dates as may be necessary to
delay its effective date until WidePoint shall file a further amendment which specifically
states that this Registration Statement shall thereafter become effective in accordance
with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall
become effective on such date as the Securities and Exchange Commission, acting pursuant
to said Section 8(a), shall determine. </FONT></P>

<!-- MARKER FORMAT-SHEET="Center Rule" FSL="Default" -->
     <P ALIGN=CENTER>_________________ </P>

<!-- MARKER FORMAT-SHEET="Center Rule" FSL="Default" -->
     <P ALIGN=CENTER>_________________ </P>

<!-- MARKER PAGE="sheet: 1; page: 1" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>





<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>The information in this prospectus
is not complete and may be changed. The selling stockholders named in this prospectus may
not sell these securities until the registration statement filed with the Securities and
Exchange Commission is effective. This prospectus is not an offer to sell these securities
and neither we nor the selling stockholders named in this prospectus are soliciting offers
to buy these securities in any jurisdiction where the offer or sale is not permitted.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Subject to completion,
dated April 28, 2006 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROSPECTUS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WIDEPOINT CORPORATION
21,910,965 SHARES OF COMMON STOCK </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
prospectus relates to resale by the selling stockholders of up to 21,910,965 shares of our
common stock, $0.001 par value per share, consisting of (i) 14,052,969 outstanding shares
of our common stock; (ii) 7,422,139 shares of our common stock issuable upon the
conversion of outstanding shares of Series A Convertible Preferred Stock and (iii) 435,857
shares of our common stock issuable upon the exercise of an outstanding warrant. We will
not receive any proceeds from the sale of these shares. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
common stock is traded on the OTC Bulletin Board under the symbol &#147;WDPT.&#148; The
last reported sale price for our common stock on the OTC Bulletin Board on April 18, 2006
was $2.99 per share. You are urged to obtain current market quotations for our common
stock. The selling stockholders may offer their shares of common stock from time to time,
in the open market, in privately negotiated transactions, or a combination of methods, at
market prices prevailing at the time of sale, at prices related to such prevailing market
prices or at negotiated prices. The selling stockholders may engage brokers or dealers who
may receive commissions or discounts from the selling stockholders. Any broker-dealer
acquiring the common stock from the selling stockholders may sell these securities in
normal market making activities, through other brokers on a principal or agency basis, in
negotiated transactions, to its customers or through a combination of methods. See
&#147;Plan of Distribution&#148; beginning on page 18. We will bear all of the expenses
and fees incurred in registering the shares offered by this prospectus. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Investing
in our common stock involves a high degree of risk. See &#147;Risk Factors&#148; beginning
on page 3 for a discussion of the risks associated with our business.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Neither
the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus is truthful or complete.
Any representation to the contrary is a criminal offense.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The date of this
prospectus is ___________, 2006.  </FONT></P>


<!-- MARKER PAGE="sheet: 2; page: 2" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>




<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Default" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TABLE OF CONTENTS </FONT></H1>




<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>PROSPECTUS SUMMARY</FONT></TD>
     <TD WIDTH=10% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;1</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>RISK FACTORS</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;3</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>14</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>USE OF PROCEEDS</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>14</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>DILUTION</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>14</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>MARKET PRICE OF COMMON STOCK AND DIVIDEND POLICY</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>15</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>SELLING STOCKHOLDERS</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>16</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>PLAN OF DISTRIBUTION</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>18</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>DESCRIPTION OF CAPITAL STOCK</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>20</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>LEGAL MATTERS</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>EXPERTS</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>WHERE YOU CAN FIND MORE INFORMATION</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23</FONT></TD></TR>
</TABLE>

<BR><BR><BR><BR><BR><BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>i </FONT></P>


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<HR SIZE=5 COLOR=GRAY NOSHADE>



<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROSPECTUS SUMMARY </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>This
summary highlights information contained elsewhere in this prospectus. This summary may
not contain all of the information that is important to you. You should read the entire
prospectus carefully, including &#147;Risk Factors&#148; beginning on page 3, before
deciding to invest in our common stock. Unless the context otherwise requires references
in this prospectus to &#147;WidePoint,&#148; &#147;we,&#148; &#147;us,&#148; and
&#147;our&#148; refer to WidePoint Corporation.</I> </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WidePoint Corporation </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WidePoint
Corporation (&#147;WidePoint&#148; or the &#147;Company&#148;) is a
technology-based provider of product and services to both the government sector and
commercial markets. We specialize in providing systems engineering, information technology
services and information assurance in the form of identity management services. Our
subsidiary, Operational Research Consultants, Inc. (ORC), is the leading provider of
E-Authentication federal credential and federal compliant Public Key Infrastructure (PKI)
managed services to the federal government. We intend to grow over the next few years
through a combination of organic growth, the acquiring of selective strategic assets and
by operational efficiencies among our subsidiaries. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
October 25, 2004, we completed the acquisition of Operational Research Consultants, Inc.,
or ORC. ORC specializes in IT integration and secure authentication processes and
software, and providing services to the United States Government. ORC has been at the
forefront of implementing Public Key Infrastructure (&#147;PKI&#148;) technologies. PKI
technology is rapidly becoming the technology of choice to enable security services within
and between different computer systems utilized by various agencies and departments of the
U.S. Government. Based on asymmetric key cryptography, PKI technology uses a class of
algorithms in which a user can receive two electronic keys, consisting of a public key and
a private key, to encrypt any information and/or communication being transmitted to or
from the user within a computer network and between different computer networks. The user
provides his or her public key to any and all desired persons or entities. The user does
not share the private key with anyone else. The public key will encrypt all information
and/or communication from any sender and the private key will allow only the holder of the
private key to unlock and decrypt such information and/or communication. Thus, the
algorithms used in PKI technologies help to achieve authentication of users and
information, integrity of all data and communications, non-repudiation or rejection of
data and communications, and support confidentiality of data and communications. PKI also
speeds up and simplifies the delivery of products and services by providing electronic
approaches to processes that historically have been paper based. These electronic
solutions depend on PKI for identification and authentication; data integrity;
confidentiality of information and transactions; and non-repudiation to facilitate
mission-related and transactions internal to an organization and with external
organizations. ORC is currently the only entity that has been designated by the United
States Government as an External Certificate Authority for the U.S. Government. As such,
ORC is authorized to issue all permissible certificate types and services in accordance
with Defense Information Systems Agency and National Security Agency standards, necessary
for the interoperable, secure exchange of information between U.S. Governmental agencies,
contractors, and international allies such as members of NATO. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are actively seeking the acquisition of other companies with complementary technical
capabilities and are focused on providing IT, software and related services to the federal
government (both defense agencies and civilian agencies), state governments, local
agencies, and corporate clients. If successful, we anticipate that we will become a
significantly larger company with broader capabilities and resources than has been the
case historically. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate
Information </FONT></P>


<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
executive offices are located at One Lincoln Centre, Oakbrook Terrace, Illinois 60181, and
our telephone number is 630-629-0003. We maintain a website with the address
www.widepoint.com. We are not including the information contained on our website as a part
of, or incorporating it by reference into, this prospectus. </FONT></P>

<!-- MARKER FORMAT-SHEET="Page Number Center" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1 </FONT></P>


<!-- *************************************************************************** -->
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<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Default" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Offering </FONT></H1>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH></TR>
<TR VALIGN=TOP>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common stock offered by the selling stockholders</FONT></TD>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>21,910,965 shares</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TH></TR>
<TR VALIGN=TOP>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Use of proceeds</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WidePoint will not receive any proceeds from the sale of shares in this offering.</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TH></TR>
<TR VALIGN=TOP>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>OTC Bulletin Board Symbol</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#147;WDPT&#148;</FONT></TD></TR>
</TABLE>


<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2 </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>RISK FACTORS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Investing
in our common stock involves a high degree of risk. You should carefully consider the
risks and uncertainties described below before purchasing our common stock. The risks and
uncertainties described below are not the only ones facing our company. Additional risks
and uncertainties may also impair our business operations. If any of the following risks
actually occur, our business, financial condition or results of operations would likely
suffer. In that case, the trading price of our common stock could fall, and you may lose
all or part of the money you paid to buy our common stock.</I> </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Risks Related to our
Operations </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We have a history of net losses, and
while we expect to realize an increase in future period revenues and we anticipate the
realization of net income, there is no assurance that this will be the case and we may not
achieve or maintain profitability.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are engaged primarily in the business of providing information technology (&#147;IT
&#147;) services with established competencies in federal government and private
consulting, planning, managing and implementing IT solutions, software and secure
authentication processes. We have incurred substantial net losses through December 31,
2005. Although we anticipate an increase in revenues and operational profitability in
future quarters, there is no assurance that this will be the case. Revenues and profits
generated from our services will depend upon numerous factors, including: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Demand
of commercial and federal marketplaces for our range of services,</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Effectiveness
of our sales and marketing efforts,</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ability
to deliver capabilities cost-effectively, and</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Competitive
environment. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We may need to obtain additional
funding to meet our future capital needs. If we are unable to obtain such financings, we
may be required to significantly cut back our operations, sell assets or cease operations.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
we continue to have operating losses and without the realization of additional capital, or
net profit from operations, and/or if we continue to seek out and make acquisitions which
require a cash component, then we may need to raise additional capital. On October 25,
2004 and October 29, 2004, we issued and sold shares of our Series A Convertible Preferred
Stock and warrants to Barron for an aggregate purchase price of approximately $3.58
million. In that financing transaction, we also issued a warrant to Westcap Securities,
Inc. (&#147;Westcap&#148;) to purchase 511,428 shares of our Common Stock at an exercise
price of $0.40 per share. In April and May of 2005, Barron converted a portion of its
Series A Convertible Preferred Stock into 3,000,000 shares of Common Stock and exercised
warrants to purchase 2,000,000 shares of Common Stock for an aggregate purchase price of
$800,000. In August and September 2005, Barron exercised warrants for 2,500,000 shares of
Common Stock providing $1,000,000 in gross proceeds to the Company. In December 2005,
warrants for an additional 5,728,572 shares of Common Stock were exercised by the holders
thereof providing $2,291,429 of additional gross proceeds to the Company. We may require
additional funding to support our operations. Additional funding may be unavailable on
favorable terms, if at all. If we are unable to obtain sufficient additional funding when
needed, we may have to significantly cut back our operations, defer potentially favorable
acquisitions, sell some or all of our assets and/or cease operations. In addition, if we
raise additional capital by issuing additional equity or convertible debt securities, our
existing stockholders may suffer significant dilution and the securities issued could have
rights, preferences and privileges more favorable than those of our current stockholders. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>We may have difficulty
responding to changing technology. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
IT industry is characterized by rapidly advancing technology. Our future success will
depend, in large part, upon our ability to anticipate and keep pace with advancing
technology and competitive innovations. However, we may not be successful in identifying,
developing and marketing new products or services or enhancing our existing products or
services. In addition, we can give no assurance that new products or services may be
developed that will render our current or planned products or services obsolete or
inferior. Rapid technological development by competitors may result in our products or
services becoming obsolete before we recover a significant portion of the research and
development expenses incurred with respect to such products or services. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>We may be unable to
implement our acquisition program. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Demand
for businesses with credible business relationships and capabilities to provide services
to various government agencies at the federal, state and local levels is very competitive.
To the extent that this competition causes the price for these businesses to elevate
beyond reasonable levels where funding for such acquisitions is no longer available,
WidePoint may not be able to implement our acquisition strategy. Any significant change in
the spending pattern of the federal government could potentially have an adverse effect on
acquisition targets and as such, argue against making such acquisitions. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We may have difficulty integrating
acquisitions into our existing operations.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent that some acquisitions may have operational complexities due to the nature of
their business, the election to not fully integrate such acquisitions may be made if such
integration does not quantitatively improve operational or financial efficiencies. Some
integration efforts will be phased in to ensure that desired efficiencies are quickly and
cost effectively realized. Any element of integration must be justified rationally on
potential cost savings realized by the business. If we are unable to successfully
integrate some or all of the operations of ORC or future acquisitions this could have a
material adverse effect on our business and operations. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We may not receive the full amount
of our backlog, which could harm our business.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
total backlog includes both funded and unfunded orders for services under existing signed
contracts, assuming the exercise of all options relating to those contracts that we
reasonably believe will be exercised. The U.S. Congress often appropriates funds for our
clients on a yearly basis, even though their contracts with us may call for performance
that is expected to take a number of years. As a result, contracts typically are only
partially funded at any point during their term, and all or some of the work to be
performed under the contracts may remain unfunded unless and until the U.S. Congress makes
subsequent appropriations and the procuring agency allocates funding to the contract. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
dollar amount of our backlog orders believed to be firm as of December 31, 2005 and
December 31, 2004 were $6.6 million and $6.0 million, respectively. The portion of backlog
reasonably expected to be filled during 2006 is $6.6 million. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
can be no assurance that our backlog will result in actual revenues in any particular
period, or at all, or that any contract included in backlog will be profitable. This is
because the actual receipt and timing of any of these revenues is subject to various
contingencies, many of which are beyond our control. In addition, we may never realize
revenues from some of the engagements that are included in our backlog, and there is a
higher degree of risk in this regard with respect to unfunded backlog. The federal
government&#146;s ability to select multiple winners under multiple award schedule
contracts, government-wide acquisition contracts, blanket purchase agreements and other
indefinite delivery/indefinite quantity contracts, as well as its right to award
subsequent task orders among such multiple winners, means that there is no assurance that
unfunded contract backlog will result in actual orders. The actual receipt of revenues on
engagements included in backlog may never occur or may change because a program schedule
could change or the program could be canceled, or a contract could be reduced, modified,
or terminated early. Moreover, under multiple award schedule contracts, government wide
acquisition contracts, blanket purchase agreements, and other indefinite
delivery/indefinite quantity contracts, the government is frequently not obligated to
order more than a minimum quantity of goods or services. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We have identified ineffective
disclosure controls and procedures and material weaknesses in the design of our internal
control over financial reporting in the past and would be adversely affected if we
identify additional ineffective disclosure controls or material internal control
weaknesses in the future.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
determined that our disclosure controls and procedures were ineffective at December 31,
2004 and December 31, 2005, and that we had material weaknesses in the design of our
internal control over financial reporting as of such dates, as discussed below. We believe
such ineffective controls or material weaknesses were remediated by January 19, 2006 when
we filed amendments to certain of our previous periodic reports. However, if we encounter
additional ineffective controls or material weaknesses in the future, they could result in
our non-timely filing of periodic reports or in accounting deficiencies in financial
reporting. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to ineffective disclosure controls and procedures, we discovered in November 2004
that the service provider we had engaged to Edgarize and file the proxy statement used in
connection with our December 2003 annual meeting of stockholders and our 2002 annual
report to stockholders inadvertently had not made such filings with the U.S. Securities
and Exchange Commission (SEC). We immediately arranged for the making of those filings in
November 2004 and have subsequently used other service providers to Edgarize and make our
SEC filings. An additional internal reporting process was instituted in the first quarter
of 2004 to track and confirm our filing of SEC reports. Furthermore, the material
weaknesses in our internal control over financial reporting identified during the year
ended December 31, 2005 and discussed below contributed to the ineffectiveness of our
controls and procedures as of such date. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
material weaknesses in our internal control over financial reporting identified at the end
of each of the quarters in 2005 and at December 31, 2005, resulted from insufficient
technical accounting expertise within our accounting function to resolve non-routine or
complex accounting and tax matters that occurred in connection with: (i) our acquisition
of ORC in October 2004; (ii) the determination of the proper accounting treatment of the
&#147;financial instrument&#148; relating to the warrants issued by the Company to Barron
in October 2004; and (iii) the determination of the proper accounting treatment of the
shares of Common Stock issued and held in escrow following the acquisition by the Company
of Chesapeake in April 2004. The material weaknesses in internal controls resulted in: (i)
our late filing on April 19, 2005 (four days after the extended due date) of our Annual
Report on Form 10-K for the year ended December 31, 2004; (ii) the need to restate the
recorded amount of the financial instrument at December 31, 2004 and March 31, 2005 due to
the failure to mark-to-market such instrument at December 31, 2004; (iii) the need to
reclassify the amortized costs relating to the ORC acquisition in cost of sales and not in
amortization and depreciation, and to record the convertible preferred stock issued to
Barron as temporary preferred equity and not permanent preferred equity; and (iv) the need
to restate our financial statements for the year ended December 31, 2004 and the first
three quarters of 2005 to reflect changes in our accounting relating to the Chesapeake
acquisition. The Chesapeake-related restatements: (i) eliminated the intangible asset
associated with the acquisition; (ii) reversed the related amortization expense; (iii)
expensed as consulting fees the cost of the transaction attributable to the cost of
issuance of the non-escrowed shares and other direct costs at the time of the acquisition;
(iv) recorded and expensed as consulting fees in cost of sales the release of the shares
from escrow at December 31, 2004; (v) expensed in cost of sales and recorded the value of
those shares in equity meeting the contractual performance measures that would result in
the release of those shares from escrow for the year ended December 31, 2005; and (vi)
recorded the shares in equity as Common Stock issuable until such time as they can be
reclassified as issued shares of Common Stock upon the release of the shares from escrow. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
should be noted that all of the warrants issued in October 2004 to Barron, which resulted
in the recognition of the financial instrument liability due to the cash penalty provision
in the registration rights agreement relating thereto, were exercised prior to the end of
2005. Consequently, the liability related to the financial instrument at December 31, 2005
has been extinguished. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
began the remediation of the weakness in our internal control over financial reporting by
the employment of a consulting firm in January 2005 with the requisite accounting
expertise to resolve the above issues, which arose as a result of accounting comments
raised by the SEC in connection with its review of the Company&#146;s annual and quarterly
reports. We believe that the past results of the above material weaknesses in our internal
control over financial reporting, and related ineffective disclosure controls and
procedures resulting therefrom, were remedied on January 19, 2006 upon the filing by the
Company of amendments to its prior periodic reports containing restated financial
statements reflecting the resolution of the above accounting issues. We believe that
internal control weakness itself has been remedied as of March 2006. The total costs
associated with the remediation were not material in amount. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Risks Related to
Our Industry</I> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>The demand for business and
technology consulting services weakened significantly in 2001 and 2002, and demand may
resume its weakened state if the current improvement in the economic climate does not
continue.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
market for our consulting services and the technologies used in our solutions has changed
rapidly over the last five years. The market for advanced technology consulting services
expanded dramatically during 1999 and most of 2000, but declined significantly in 2001 and
2002. Since the second half of 2000, many companies have experienced financial
difficulties or uncertainty, and canceled or delayed spending on technology initiatives as
a result. These companies typically are not demonstrating the same urgency regarding
technology initiatives that existed during the economic expansion that stalled in 2000.
This trend worsened for some companies following the September 11, 2001 terrorist attacks
in the United States and the accounting scandals involving Enron, Worldcom, Tyco and other
companies. The economic uncertainty caused by recent military actions in Afghanistan and
Iraq further depressed technology spending in the commercial sector, although increased
requirements and capabilities have characterized spending levels in the government sector.
While the overall economic climate has begun to show signs of improvement since the third
quarter of 2003, this improvement may not continue for a meaningful period of time. If the
economic climate does not improve significantly, large companies may continue to cancel or
delay their business and technology consulting initiatives because of the weak economic
climate, or for other reasons, and our business, financial condition and results of
operations would be materially and adversely affected. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Our market is highly competitive
and we may not be able to continue to compete effectively.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
markets for the services we provide are highly competitive. We currently compete with
companies from a variety of market segments, including publicly and privately held firms,
large accounting and consulting firms, systems consulting and implementation firms,
application software firms, service groups of computer equipment companies and other
general management consulting firms. We also compete regularly with offshore outsourcing
companies, and we expect competition from these companies to increase in the future,
especially on development, application management services and outsourcing engagements. We
compete frequently for client engagements against companies with far higher revenues and
larger numbers of consultants than we have. Recent consolidations of large consulting
companies within our market have further increased the size and resources of some of these
competitors. These competitors are often able to offer more scale, which in some instances
has enabled them to significantly discount their services in exchange for revenues in
other areas or at later dates. Additionally, in an effort to maintain market share, many
of our competitors are heavily discounting their services to unprofitable levels. Some of
our competitors have gone out of business. If we cannot keep pace with the intense
competition in our marketplace, our business, financial condition and results of
operations will suffer. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We have significant fixed
operating costs, which may be difficult to adjust in response to unanticipated
fluctuations in revenues.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
high percentage of our operating expenses, particularly personnel, rent and depreciation,
are fixed in advance of any particular quarter. As a result, an unanticipated decrease in
the number or average size of, or an unanticipated delay in the scheduling for, our
projects may cause significant variations in operating results in any particular quarter
and could have a material adverse effect on operations for that quarter. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
unanticipated termination or decrease in size or scope of a major project, a client&#146;s
decision not to proceed with a project we anticipated or the completion during a quarter
of several major client projects could require us to maintain underutilized employees and
could have a material adverse effect on our business, financial condition and results of
operations. Our revenues and earnings may also fluctuate from quarter to quarter because
of such factors as: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
contractual terms and timing of completion of projects, including achievement of certain
business results;</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>any
delays incurred in connection with projects;</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
adequacy of provisions for losses and bad debts;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
accuracy of our estimates of resources required to complete ongoing projects;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>loss
of key highly skilled personnel necessary to complete projects; and</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>general
economic conditions.</FONT></TD>
</TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We may lose money if we do not
accurately estimate the costs of fixed-price engagements.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Some
of our projects may be based on fixed-price, fixed-time contracts, rather than contracts
in which payment to us is determined on a time and materials basis. Our failure to
accurately estimate the resources required for a project, or our failure to complete our
contractual obligations in a manner consistent with the project plan upon which our
fixed-price, fixed-time contract was based, could adversely affect our overall
profitability and could have a material adverse effect on our business, financial
condition and results of operations. In addition, we may fix the price for some projects
at an early stage of the process, which could result in a fixed price that turns out to be
too low and, therefore, could adversely affect our business, financial condition and
results of operations. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6 </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Our clients could
unexpectedly terminate their contracts for our services. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
both our commercial and government sector businesses, some of our contracts can be
canceled by the client with limited advance notice and without significant penalty.
Termination by any client of a contract for our services could result in a loss of
expected revenues and additional expenses for staff that were allocated to that
client&#146;s project. We could be required to maintain underutilized employees who were
assigned to the terminated contract. The unexpected cancellation or significant reduction
in the scope of any of our large projects could have a material adverse effect on our
business, financial condition and results of operations. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We may be liable to our clients
for damages caused by our services or by our failure to remedy system failures.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Many
of our projects involve technology applications or systems that are critical to the
operations of our clients&#146; businesses. If we fail to perform our services correctly,
we may be unable to deliver applications or systems to our clients with the promised
functionality or within the promised time frame, or to satisfy the required service levels
for support and maintenance. While we have taken precautionary actions to create
redundancy and back-up systems, any such failures by us could result in claims by our
clients for substantial damages against us. Although we attempt to limit the amount and
type of our contractual liability for defects in the applications or systems we provide,
and carry insurance coverage that mitigates this liability in certain instances, we cannot
be assured that these limitations and insurance coverages will be applicable and
enforceable in all cases. Even if these limitations and insurance coverages are found to
be applicable and enforceable, our liability to our clients for these types of claims
could be material in amount and affect our business, financial condition and results of
operations. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>If we do not attract and retain
qualified professional staff, we may not be able to adequately perform our client
engagements and could be limited in accepting new client engagements.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
business is labor intensive, and our success depends upon our ability to attract, retain,
train and motivate highly skilled employees. Intense competition exists for employees who
have specialized skills or significant experience in business and technology consulting.
The improvement in demand for business and technology consulting services that began in
the third quarter of 2003 has also increased the need for highly skilled employees. We may
not be successful in attracting enough employees to achieve our desired expansion or
staffing plans. Furthermore, the industry turnover rates for these types of employees are
high, and we may not be successful in retaining, training and motivating the employees we
are able to attract. Any inability to attract, retain, train and motivate employees could
impair our ability to adequately manage and complete existing projects and to bid for or
accept new client engagements. Such inability may also force us to hire expensive
independent contractors, which could increase our costs and reduce our profitability on
client engagements. We must also devote substantial managerial and financial resources to
monitoring and managing our workforce and other resources. Our future success will depend
on our ability to manage the levels and related costs of our workforce and other resources
effectively. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>We may be unable to
protect our proprietary methodology. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
success depends, in part, upon our proprietary methodology and other intellectual property
rights. We rely upon a combination of trade secrets, nondisclosure and other contractual
arrangements, and copyright and trademark laws to protect our proprietary rights. We
generally enter into nondisclosure and confidentiality agreements with our employees,
partners, consultants, independent sales agents and clients, and limit access to and
distribution of our proprietary information. We cannot be certain that the steps we take
in this regard will be adequate to deter misappropriation of our proprietary information
or that we will be able to detect unauthorized use and take appropriate steps to enforce
our intellectual property rights. Specifically in the Government sector, statutory
contracting regulations protect the rights of Federal Agencies to retain access to, and
utilization of, proprietary intellectual property utilized in the delivery of contracted
services to such Agencies. Although we believe that our services and products do not
infringe on the intellectual property rights of others, infringement claims may be
asserted against us in the future, and, if asserted, these claims may be successful. A
successful claim against us could materially adversely affect our business, financial
condition and results of operations. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Our directors and officers have
significant voting power and may substantially influence the outcome of any stockholder
vote.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
December 31, 2005, our directors and officers, in the aggregate, beneficially owned
approximately 9,917,499 shares of our common stock, or approximately 21.8% of our issued
and outstanding shares of Common Stock. As a result, they have the ability to
substantially influence, and may effectively control the outcome of corporate actions
requiring stockholder approval, including the election of directors. This concentration of
ownership may also have the effect of delaying or preventing a change in control of
WidePoint, even if such a change in control would benefit other investors. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have a concentrated ownership structure and shares of Common Stock beneficially owned by
our directors and officers at December 31, 2005, in conjunction with shares of Common
Stock owned by Barron, including shares it would own upon its conversion of all of the
Series A Convertible Preferred Stock, would constitute approximately 51% of the
outstanding shares of our common stock. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>We are dependent on our
key employees. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
success will depend in large part upon the continued services of a number of key
employees, including Steve Komar, our Chairman, President and Chief Executive Officer,
James McCubbin, our Vice President, Secretary and Chief Financial Officer, Mark Mirabile,
our Vice President and Chief Operations Officer, and Dan Turissini, our Vice President and
Chief Technology Officer and the Chief Executive Officer of our wholly owned subsidiary
ORC. On July 1, 2002, we entered into employment arrangements with Messrs. Komar, McCubbin
and Mirabile. Each of these three employment agreements was for an initial term of two
years, with four renewable one-year options. On October 25, 2004, we entered into an
employment arrangement with Mr. Turissini. Mr. Turissini&#146;s employment agreement was
for an initial term of two years. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
generally do not have employment agreements with our other employees. The loss of the
services of any of our key personnel could have a material adverse effect on our business,
financial condition and results of operations. In addition, if our key employees resign
from WidePoint or its subsidiaries to join a competitor or to form a competing company,
the loss of such personnel and any resulting loss of existing or potential clients to any
such competitor could have a material adverse effect on our business, financial condition
and results of operations. Although we require our employees to sign agreements
prohibiting them from joining a competitor, forming a competing company or soliciting our
clients or employees for certain periods of time, we cannot be certain that these
agreements will be effective in preventing our key employees from engaging in these
actions or that courts or other adjudicative entities will substantially enforce these
agreements. Furthermore, for those employees whom we involuntarily terminated in
connection with our restructuring actions, we have waived the non- competition clause of
their agreements in exchange for releases of claims. We granted these waivers only in
connection with the restructuring actions, and our general practice is not to waive the
non-competition obligations of other departing employees. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>The loss of one or more
significant customers could have an adverse impact on our results of operations.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Historically,
we have derived, and may in the future derive, a significant percentage of our total
revenues from a relatively small number of clients. For the year ended December 31, 2005,
one customer, The U.S. Department of Homeland Security, individually represented
approximately 18% of revenues, and we therefore are materially dependent on such customer.
During 2004, two customers, Abbott Laboratories and The U.S. Department of Homeland
Security, individually represented 12%, and 11% of revenues, respectively. During 2003,
four customers, Abbot Laboratories, Spencer Stuart, Manpower, and Baxter Healthcare,
individually represented 18%, 14%, 13%, and 13% of revenues, respectively. Although this
concentration was lessened by the acquisition of ORC, in the event we lose any one of
those significant customers, our results of operations would be materially adversely
affected. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We may incur substantial costs in
connection with contracts awarded through a competitive procurement process, which could
negatively impact our operating results.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Many
federal government contracts are awarded through a competitive procurement process. We
expect that much of the government business we seek in the foreseeable future will be
awarded through competitive procedures. Competitive procurements impose substantial costs
and present a number of risks, including: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
substantial cost and managerial time and effort that we spend to prepare bids and
proposals for contracts that may not                   be awarded to us; and</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
expense and delay that we may face if our competitors protest or challenge contract
awards made to us pursuant to competitive procedures, and the risk that any such protest
or challenge could result in the resubmission of offers, or in termination, reduction, or
modification of the awarded contract. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
costs we incur in the competitive procurement process may be substantial and, to the
extent we participate in competitive procurements and are unable to win particular
contracts, these costs could negatively affect our operating results. In addition, GSA
multiple award schedule contracts, government-wide acquisitions contracts, blanket
purchase agreements, and other indefinite delivery/indefinite quantity contracts do not
guarantee more than a minimal amount of work for us, but instead provide us access to work
generally through further competitive procedures. This competitive process may result in
increased competition and pricing pressure, requiring that we make sustained post-award
efforts to realize revenues under the relevant contract. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Unfavorable government audit
results could subject us to a variety of penalties and sanctions, and could harm our
reputation and relationships with our clients.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
federal government audits and reviews our performance on contracts, pricing practices,
cost structure, and compliance with applicable laws, regulations, and standards. Like most
large government contractors, our contracts are audited and reviewed on a continual basis
by federal agencies, including the Defense Contract Audit Agency. An unfavorable audit of
us, or of our subcontractors, could have a substantial adverse effect on our operating
results. For example, any costs that were originally reimbursed could subsequently be
disallowed. In this case, cash we have already collected may need to be refunded and
future operating margins may be reduced. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a government audit uncovers improper or illegal activities, we may be subject to civil and
criminal penalties and administrative sanctions, including termination of contracts,
forfeiture of profits, suspension of payments, fines, and suspension or debarment from
doing business with U.S. government agencies. In addition, we could suffer serious harm to
our reputation if allegations of impropriety were made against us, whether or not true. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Security breaches in sensitive
government systems could result in the loss of clients and negative publicity.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Many
of the services we provide involve managing and protecting information involved in
intelligence, national security, and other sensitive or classified government functions. A
security breach in one of these systems could cause serious harm to our business, damage
our reputation, and prevent us from being eligible for further work on sensitive or
classified systems for federal government clients. We could incur losses from such a
security breach that could exceed the policy limits under our errors and omissions and
product liability insurance. Damage to our reputation or limitations on our eligibility
for additional work resulting from a security breach in one of the systems we develop,
install, and maintain could materially reduce our revenues. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Our failure to obtain and maintain
necessary security clearances may limit our ability to perform classified work for
government clients, which could cause us to lose business.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Some
government contracts require us to maintain facility security clearances, and require some
of our employees to maintain individual security clearances. If our employees lose or are
unable to timely obtain security clearances, or we lose a facility clearance, the
government client can terminate the contract or decide not to renew it upon its
expiration. As a result, to the extent we cannot obtain or maintain the required security
clearances for a particular contract, or we fail to obtain them on a timely basis, we may
not derive the revenues anticipated from the contract, which, if not replaced with
revenues from other contracts, could harm our operating results. To the extent we are not
able to obtain facility security clearances or engage employees with the required security
clearances for a particular contract, we will be unable to perform that contract and we
may not be able to compete for or win new contracts for similar work. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>9 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Changes in the spending policies
or budget priorities of the federal government could cause us to lose revenues.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
derive a significant amount of our revenues from contracts funded by federal government
agencies. We believe that contracts with federal government agencies, and defense agencies
in particular, will be a significant source of our revenues for the foreseeable future.
Accordingly, changes in federal government fiscal or spending policies or the U.S. defense
budget could directly affect our financial performance. For example, the reduction in the
U.S. defense budget during the early 1990s caused some defense-related government
contractors to experience decreased sales, reduced operating margins and, in some cases,
net losses. Among the factors that could harm our business are: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>curtailment
of the federal government&#146;s use of technology services firms;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a
significant decline in spending by the federal government, in general, or by specific
agencies such as the Department of                   Defense;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>reductions
in federal government programs or requirements;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a
shift in spending to federal programs and agencies that we do not support or where we
currently do not have contracts;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>delays
in the payment of our invoices by government payment offices;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>federal
governmental shutdowns, such as the shutdown that occurred during the government&#146;s
1996 fiscal year, and other potential delays in the government appropriations process;
and </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>general
economic and political conditions, including any event that results in a change in
spending priorities of the federal government. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
or other factors could cause federal government agencies and departments to reduce their
purchases under contracts, to exercise their right to terminate contracts, or not to
exercise options to renew contracts, any of which could cause us to lose revenues. In
addition, any limitations imposed on spending by U.S. government agencies that result from
efforts to reduce the federal deficit may limit both the continued funding of our existing
contracts and our ability to obtain additional contracts. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Federal government contracts
contain provisions giving government clients a variety of rights that are unfavorable to
us, including the ability to terminate a contract at any time for convenience.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal
government contracts contain provisions and are subject to laws and regulations that
provide government clients with rights and remedies not typically found in commercial
contracts. These rights and remedies allow government clients, among other things, to: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>terminate
existing contracts, with short notice, for convenience, as well as for default;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>reduce
orders under or otherwise modify contracts;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>for
larger contracts subject to the Truth in Negotiations Act, reduce the contract price or
cost where it was increased because a contractor or subcontractor during negotiations
furnished cost or pricing data that was not complete, accurate, and current; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>for
GSA multiple award schedule contracts, government-wide acquisition agreements, and
blanket purchase agreements, demand a refund, make a forward price adjustment, or
terminate a contract for default if a contractor provided inaccurate or incomplete data
during the contract negotiation process, or reduce the contract price under certain
triggering circumstances, including the revision of pricelists or other documents upon
which the contract award was predicated, the granting of more favorable discounts or
terms and conditions than those contained in such documents, and the granting of certain
special discounts to certain clients; </FONT></TD>
</TR>
</TABLE>
<BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10 </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>terminate
our facility security clearances and thereby prevent us from receiving classified
contracts;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>cancel
multi-year contracts and related orders if funds for contract performance for any
subsequent year become unavailable;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>decline
to exercise an option to renew a multi-year contract or issue task orders in connection
with indefinite                   delivery/indefinite quantity contracts;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>claim
rights in solutions, systems, and technology produced by us;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>prohibit
future procurement awards with a particular agency due to a finding of organizational
conflict of interest based upon prior related work performed for the agency that would
give a contractor an unfair advantage over competing contractors or the existence of
conflicting roles that might bias a contractor&#146;s judgment; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>subject
the award of contracts to protest by competitors, which may require the contracting
federal agency or department to suspend our performance pending the outcome of the
protest and may also result in a requirement to resubmit offers for the contract or in
the termination, reduction, or modification of the awarded contract; and </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>suspend
or debar us from doing business with the federal government.</FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a federal government client terminates one of our contracts for convenience, we may
recover only our incurred or committed costs, settlement expenses, and profit on work
completed prior to the termination. If a federal government client were to unexpectedly
terminate, cancel, or decline to exercise an option to renew with respect to one or more
of our significant contracts or suspend or debar us from doing business with the federal
government, our revenues and operating results would be materially harmed. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Our failure to comply with complex
procurement laws and regulations could cause us to lose business and subject us to a
variety of penalties.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
must comply with laws and regulations relating to the formation, administration, and
performance of federal government contracts, which affect how we do business with our
federal government clients and may impose added costs on our business. Among the most
significant laws and regulations are: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
Federal Acquisition Regulation, and agency regulations analogous or supplemental to the
Federal Acquisition Regulation, which comprehensively regulate the formation,
administration, and performance of government contracts; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
Truth in Negotiations Act, which requires certification and disclosure of all cost or
pricing data in connection with some contract negotiations; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
Cost Accounting Standards, which impose cost accounting requirements that govern our
right to reimbursement under some cost-based government contracts; and </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>laws,
regulations, and executive orders restricting the use and dissemination of information
classified for national security purposes and the exportation of specified solutions and
technical data. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a government review or investigation uncovers improper or illegal activities, we may be
subject to civil and criminal penalties and administrative sanctions, including the
termination of our contracts, the forfeiture of profits, the suspension of payments owed
to us, fines, and our suspension or debarment from doing business with federal government
agencies. In particular, the civil False Claims Act provides for treble damages and
potentially substantial civil penalties where, for example, a contractor presents a false
or fraudulent claim to the government for payment or approval, or makes a false statement
in order to get a false or fraudulent claim paid or approved by the government. Actions
under the civil False Claims Act may be brought by the government or by other persons on
behalf of the government. These provisions of the civil False Claims Act permit parties,
such as our employees, to sue us on behalf of the government and share a portion of any
recovery. Any failure to comply with applicable laws and regulations could result in
contract termination, price or fee reductions, or suspension or debarment from contracting
with the government, each of which could lead to a material reduction in our revenues. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>11 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>The adoption of new procurement
laws or regulations could reduce the amount of services that are outsourced by the federal
government and cause us to experience reduced revenues.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New
legislation, procurement regulations, or labor organization pressure could cause federal
agencies to adopt restrictive procurement practices regarding the use of outside IT
providers. The American Federation of Government Employees, the largest federal employee
union, strongly endorses legislation that may restrict the procedure by which services are
outsourced to government contractors. One such proposal, the Truthfulness, Responsibility,
and Accountability in Contracting Act, would have effectively reduced the volume of
services that is outsourced by the federal government by requiring agencies to give
in-house government employees expanded opportunities to compete against contractors for
work that could be outsourced. Although the legislation did not pass committee in either
house of the U.S. Congress last term, and it has not been reintroduced in the current
term, if such legislation, or similar legislation, were to be enacted, it would likely
reduce the amount of IT services that could be outsourced by the federal government, which
could materially reduce our revenues. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Risks Related To Our
Common Stock and the Offering</I>  </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Our common stock price could be
volatile, which could cause you to lose all or part of your investment.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
stock market has, from time to time, experienced extreme price and volume fluctuations.
The market prices of the securities of IT companies have been especially volatile. Broad
market fluctuations of this type may adversely affect the market price of our common
stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
market price of our common stock has experienced, and may continue to be subject to
volatility due to a variety of factors, including: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>public
announcements concerning us, our competitors or the IT industry;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>fluctuations
in operating results;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>introductions
of new products or services by us or our competitors;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>changes
in analysts&#146; earnings estimates; and</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>announcements
of technological innovations.</FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the past, some companies that have experienced volatility in the market price of their
stock have been the object of securities class action litigation. If we were the object of
securities class action litigation, we could incur substantial costs and experience a
diversion of our management&#146;s attention and resources and such securities class
action litigation could have a material adverse effect on our business, financial
condition and results of operations </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>A third party could be prevented
from acquiring shares of our common stock at a premium to the market price because of our
anti-takeover provisions.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Various
provisions of our certificate of incorporation, by-laws and Delaware law could make it
more difficult for a third party to acquire us, even if doing so might be beneficial to
you and our other stockholders. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>12 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>The future sale of shares of our
common stock may negatively affect our common stock price.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
our stockholders sell substantial amounts of our common stock, including shares issuable
to Barron upon its conversion of the Series A Convertible Preferred Stock and upon the
exercise of outstanding warrants and options, the market price of our common stock could
fall. These sales also might make it more difficult for us to sell equity securities in
the future at a time and price that we deem appropriate. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>The fact that our directors and
officers beneficially own 21.8% of our outstanding common stock may decrease your
influence on stockholder decisions.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
December 31, 2005, our executive officers and directors, in the aggregate, beneficially
owned 21.8% of our outstanding common stock. As a result, our officers and directors, will
have the ability to influence our management and affairs and the outcome of matters
submitted to stockholders for approval, including the election and removal of directors,
amendments to our bylaws and any merger, consolidation or sale of all or substantially all
of our assets. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>There may not be sufficient
liquidity in the market for our securities in order for investors to sell their
securities.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
is currently only a limited public market for our common stock, which is traded on the
Over-the-Counter Bulletin Board, and there can be no assurance that a trading market will
develop further or be maintained in the future. As of April 18, 2006, the closing sale
price of our common stock on the Over-the-Counter Bulletin Board was $2.99. As of April
18, 2006 there were approximately 185 registered holders of record not including shares
held in street name. During the quarter ended March 31, 2006, our common stock traded an
average of 216,987 shares per day with a trading range of $2.06 per share to $3.25 per
share. During the past year our common stock has traded an average of 71,458 shares of
common stock per day and over the past three years our common stock has traded an average
of 37,623 shares of common stock per day. In addition, during 2004 and 2005 our common
stock has had a trading range with a low price of $0.13 per share and a high price of
$2.31 per share. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We could issue additional shares
of common stock, which might dilute the book value of our common stock.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have a total of 110,000,000 authorized shares of common stock, of which 47,504,222 shares
were issued and outstanding as of March 31, 2006. As of March 31, 2006, 8,277,543 shares
of the 47,504,222 shares were held in escrow, pending release per escrow agreements
between the Company and ORC for 5,555,556 shares and between the Company and Chesapeake
for 2,721,987 shares. The Company will be cancelling 5,555,556 shares held in escrow per
an escrow agreement between the Company and the former shareholders of ORC as a result of
ORC not meeting certain performance measures. The Company will also be canceling 816,597
shares of the 2,721,987 held in escrow per an escrow agreement between the Company and the
former shareholders of Chesapeake as a result of Chesapeake not meeting certain
performance measures. In addition, we have warrants, options and convertible preferred
stock outstanding with respect to which 17,710,747 shares of common stock are reserved for
issuance. Our board of directors has the authority, without action or vote of our
stockholders in most cases, to issue all or a part of any authorized but unissued shares
of our common stock. Such stock issuances may be made at a price that reflects a discount
from the then-current trading price of our common stock. In addition, in order to raise
capital for acquisitions or other general corporate purposes that we may need at
today&#146;s stock prices, we would likely need to issue securities that are convertible
into or exercisable for a significant number of shares of our common stock. These
issuances would dilute our stockholders percentage ownership interest, which would have
the effect of reducing our stockholders influence on matters on which our stockholders
vote, and might dilute the book value of our common stock. You may incur additional
dilution of net tangible book value if holders of stock options or warrants, whether
currently outstanding or subsequently granted, exercise their options or warrants to
purchase shares of our common stock. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>The sale of a large number of
shares of our common stock could depress our stock price.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of March 31, 2006, we have reserved 7,723,608 shares of common stock for issuance upon
exercise of stock options and warrants. We have also reserved 9,987,139 shares of common
stock for issuance upon conversion of our Series A Convertible Preferred Stock. As of
March 31, 2006, holders of warrants and options to purchase an aggregate of 7,256,208
shares of our common stock may exercise those securities and transfer the underlying
Common Stock at any time subject, in some cases, to Rule 144 of the Securities Act of
1933. In addition, in connection with our financing with Barron, we have registered (i)
all of the shares of common stock issuable upon conversion of the Series A Convertible
Preferred Stock that we issued and sold in the Barron financing and (ii) all of the shares
of common stock that are issuable upon exercise of the warrants issued to Westcap in
connection with the financing. The Series A Convertible Preferred Stock was initially
convertible into 20,457,143 shares of our common stock and the warrants initially entitled
the holders to acquire an additional 10,739,999 shares of our common stock. During April,
May, September, October, and December 2005, Barron converted a portion of its shares of
Series A Convertible Preferred Stock into 8,500,000 shares of common stock and exercised
warrants to purchase 7,428,572 shares of common stock. In December 2005, Barron
transferred warrants to purchase 2,800,000 shares of common stock to other institutional
investors. In December 2005, the holders of such warrants to acquire such 2,800,000 shares
of common stock exercised such warrants. These shares of common stock are registered for
possible resale by the holders thereof under this Registration Statement. The market price
of our common stock could decline as a result of sales of a large number of shares of our
common stock in the market, or the perception that these sales could occur. These sales
might also make it more difficult for us to issue equity securities in the future at a
price that we think is appropriate, or at all. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>13 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Financial investors may have
interests different than our stockholders or WidePoint, and may be able to impact
corporate actions requiring stockholder approval because they own a significant amount of
our common stock.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of April 18, 2006, Barron presently owns securities that are convertible into
approximately 7,742,139 shares of our common stock. If issued, such shares would
constitute approximately 15.3% of the then outstanding shares of our common stock. In
future financings, we may also issue securities that are convertible into or exercisable
for a significant number of shares of our outstanding common stock. Financial investors
may have short-term financial interests different from our long-term goals and the
long-term goals of our management and other stockholders. In addition, based on the
significant ownership of our outstanding common stock, financial investors may be able to
impact corporate actions requiring stockholder approval. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SPECIAL NOTE REGARDING
FORWARD-LOOKING STATEMENTS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
prospectus includes forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All
statements, other than statements of historical facts, included in this prospectus
regarding our strategy, future operations, financial position, future revenues, projected
costs, prospects, plans and objectives of management are forward-looking statements. The
words &#147;anticipates,&#148; &#147;believes,&#148; &#147;estimates,&#148;
&#147;expects,&#148; &#147;intends,&#148; &#147;may,&#148; &#147;plans,&#148;
&#147;projects,&#148; &#147;will,&#148; &#147;would&#148; and similar expressions are
intended to identify forward-looking statements, although not all forward-looking
statements contain these identifying words. We cannot guarantee that we actually will
achieve the plans, intentions or expectations disclosed in our forward-looking statements
and you should not place undue reliance on our forward-looking statements. Actual results
or events could differ materially from the plans, intentions and expectations disclosed in
the forward-looking statements we make. We have included important factors in the
cautionary statements included in this prospectus, particularly under the heading
&#147;Risk Factors,&#148; that we believe could cause actual results or events to differ
materially from the forward-looking statements that we make. Our forward-looking
statements do not reflect the potential impact of any future acquisitions, mergers,
dispositions, joint ventures or investments we may make. We do not assume any obligation
to update any forward-looking statements. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>USE OF PROCEEDS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will not receive any proceeds from the sale of the shares offered pursuant to this
prospectus. The selling stockholders will receive all of the proceeds from the sale of the
shares of common stock offered by this prospectus. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
selling stockholders will pay any expenses incurred by them for brokerage, accounting, tax
or legal services or any other expenses incurred by them in disposing of the shares. We
will bear all other costs, fees and expenses incurred in effecting the registration of the
shares covered by this prospectus, including, without limitation, all registration and
filing fees and fees and expenses of our counsel and our accountants. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DILUTION </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
offering is for sales of stock by the selling stockholders on a continuous or delayed
basis in the future. Sales of common stock by the selling stockholders will not result in
a change to the net tangible book value per share before or after the distribution of
shares by the selling stockholders. There will be no change in net tangible book value per
share attributable to cash payments made by purchasers of the shares being offered.
Prospective investors should be aware, however, that the market price of our shares may
not bear any relationship to net tangible book value per share. </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>14 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MARKET PRICE OF COMMON
STOCK AND DIVIDEND POLICY </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Company&#146;s Common Stock is
quoted on the NASD OTC Bulletin Board under the symbol &#147;WDPT&#148; and the Frankfurt
and Berlin exchanges under the symbol &#147;ZMX&#148;. From July 5, 2000 to March 1, 2001
the Company&#146;s Common Stock was traded on the NASDAQ SmallCap Market under the symbol
&#147;WDPT&#148;. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The stock prices listed below
represent the high and low closing bid prices of the Common Stock on the NASD OTC Bulletin
Board for each of the periods indicated: </FONT></P>




<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=70% ALIGN=CENTER>
<TR VALIGN=Bottom>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2006</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>High</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Low</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>First Quarter</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$3.25</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$2.06</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Second Quarter (through April 18, 2006)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$3.15</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$2.52</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>2005</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fourth Quarter</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$2.31</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$0.75</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Third Quarter</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;1.00</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.76</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Second Quarter</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;1.01</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.62</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>First Quarter</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.86</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.62</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>2004</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fourth Quarter</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$0.86</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$0.31</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Third Quarter</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.38</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.26</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Second Quarter</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.53</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.29</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>First Quarter</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.54</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;0.13</FONT></TD></TR>
</TABLE>




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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of April 18, 2006, there were 185 registered holders of record of the Company&#146;s
Common Stock. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Dividend Policy</U> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Company has never paid cash
dividends on its Common Stock and intends to continue this policy for the foreseeable
future. WidePoint plans to retain earnings for use in growing its business base. Any
future determination to pay cash dividends will be at the discretion of the Board of
Directors of the Company and will be dependent on WidePoint&#146;s results of operations,
financial condition, contractual and legal restrictions and any other factors deemed by
the management and the Board of Directors to be a priority requirement of the business. </FONT></P>

<BR><BR><BR><BR><BR><BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>15 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SELLING STOCKHOLDERS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
shares of common stock covered by this prospectus consist of 21,910,965 shares of common
stock presently owned by 21 institutional stockholders listed below, including 7,857,996
shares of common stock that are issuable upon (i) the conversion of outstanding shares of
Series A Convertible Preferred Stock held by Barron that were issued to it in connection
with financings that occurred on October 25, 2004 and October 29, 2004, respectively, and
(ii) the exercise of warrants which were issued to Westcap for its services in that
transaction. The warrants expire in October 2009. Barron is the only holder of our Series
A Convertible Preferred Stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
do not know when or in what amounts the selling stockholders may offer shares for sale.
The selling stockholders may or may not sell any or all of the shares offered by this
prospectus. Because the selling stockholders may offer all or some of the shares pursuant
to this offering, and because there are currently no agreements, arrangements or
understandings with respect to the sale of any of the shares, we cannot estimate the
number of shares that will be held by the selling stockholder after completion of the
offering. For purposes of the table set forth below, however, we have assumed that, after
completion of the offering, none of the shares covered by this prospectus will be held by
the selling stockholders. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barron
has the right, subject to certain restrictions, to acquire up to a total of 7,422,139
shares of our common stock, consisting of the conversion of 742,214 shares of Series A
Convertible Preferred Stock, representing a conversion rate equal to $0.175 per share of
common stock. In addition, Barron&#146;s rights to convert its Series A Convertible
Preferred Stock are subject to limitations which restrict the ability of Barron to acquire
such shares at any time in the event Barron and its affiliates would own more than a total
of 4.99% of our outstanding shares of common stock following such conversion, which
restriction may be removed upon 61 days notice to us by Barron (such restriction is
described in greater detail below under &#147;Description of Capital Stock &#151;
Preferred Stock; Warrants&#148;). The following table assumes that all of such shares of
Series A Convertible Preferred Stock held by Barron have been converted and all such
warrants held by Westcap have been exercised. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
selling stockholders and any other persons participating in the sale or distribution of
the shares offered under this prospectus will be subject to applicable provisions of the
Securities Exchange Act of 1934 and the rules and regulations under that act, including
Regulation M. These provisions may restrict activities of, and limit the timing of
purchases and sales of any of the shares by, the selling stockholders or any other such
person. Furthermore, pursuant to Regulation M, persons engaged in a distribution of
securities are prohibited from simultaneously engaging in market making and other
activities with respect to those securities for a specified period of time prior to the
commencement of such distributions, subject to specified exceptions or exemptions. All of
these limitations may affect the marketability of the shares offered hereby. The offering
will terminate when the selling stockholders have sold their shares pursuant to this
prospectus or in reliance on exemption or safe harbor available pursuant to the Securities
Act or until the shares are freely tradable under the Securities Act. </FONT></P>












<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Shares of Common Stock<BR>
Beneficially Owned Prior<BR>
to Offering (1)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Shares of Common Stock<BR>
to be Beneficially
Owned <BR>After Offering
(2)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Name of Selling Stockholder(3)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Number</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Percentage<BR>
of<BR>
Outstanding(4)</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Number of<BR>
Shares of<BR>
Common Stock<BR>
Being Offered</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Number</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Percentage<BR>
of<BR>
Outstanding</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=45% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Barron Partners L.P. (5)</I></FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>9,405,708</FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>18.1%</FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>9,405,708</FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Goldman, Sachs &amp; Co. (6)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>2,000,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>3.8%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>2,000,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>CRT Capital Group LLC (7)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1,000,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1.9%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1,000,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>AF Capital LLC (8)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;900,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1.7%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;900,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Prism Capital 5, LP (9)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;768,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1.5%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;768,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>WPG-Farber QP Fund, LP (10)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;282,100</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.5%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;282,100</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>WPG-Farber Overseas Fund, LP (11)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46,800</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.1%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46,800</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Hatteras Special Situations Master Fund, Ltd. (12)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;814,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1.6%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;814,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Hatteras Special Situations, LP (m13)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;113,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.2%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;113,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Core Funds, LP (14)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1,000,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1.9%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1,000,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>JMG Triton Offshore Fund, Ltd. (15)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;625,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1.2%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;625,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Triage Capital Management, L.P. (16)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;105,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.2%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;105,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Triage Capital Management B, L.P. (17)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;165,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.3%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;165,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Endurance Partners, (Q.P.), L.P. (18)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>2,364,600</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>4.5%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>2,364,600</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Endurance Partners, L.P. (19)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;635,400</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>1.2%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;635,400</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Trellus Partner II, L.P. (20)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.1%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
</TABLE>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>16 </FONT></P>

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<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=45% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Trellus Partners, L.P. (21)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;162,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.3%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;162,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Trellus Offshore Fund Limited (22)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;331,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.6%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;331,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>River Run Fund, Ltd. (23)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;412,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.8%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;412,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>River Run Partners, L.P. (24)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;337,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.6%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;337,500</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>Westcap Securities, Inc. (25)</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;435,857</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0.8%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;435,857</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>0%</FONT></TD></TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(1)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                    Assumes
the conversion by the selling stockholders of all of the Series A
                    Convertible Preferred Stock owned by them and the exercise by the
selling                     stockholders of all of the warrants owned by them,
notwithstanding the                     limitation on the right of Barron Partners, LP to
convert its Series A                     Convertible Preferred Stock if Barron Partners
and its affiliates would own in                     excess of 4.99% of the outstanding
shares of our common stock following such                     conversion. Assumes the
sale of all such shares of common stock by the selling                     stockholders. </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(2)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                     Assumes
the sale of all such shares of common stock by the selling stockholders. </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(3)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                  The
term &#147;selling stockholders&#148; includes donees, pledgees, transferees
                    or other successors-in-interest selling shares received after the
date of this                     prospectus from the selling stockholders as a gift,
pledge, partnership                     distribution or other non-sale related transfer. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(4)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                  The
percentage of outstanding calculation for Barron Partners L.P. and Westcap
                    Securities, Inc. assumes that all of the shares of common stock
underlying their                     Series A Convertible Preferred Stock and warrants,
respectively, are                     outstanding. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(5)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>               Barron
Partners L.P. is a Delaware limited partnership. The general manager of
                    Barron Partners L.P. is Andrew Barron Worden, who possesses voting
and                     dispositive power over the shares held by Barron Partners L.P.
Its principal                     business office is 730 Fifth Avenue, 9<SUP>th</SUP> floor,
New York, New York                     10019. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(6)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                    Goldman
Sachs &amp; Co. is a New York limited partnership with its principal
                    business office at 30 Hudson Street, Jersey City, New Jersey 07302. </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(7)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                   CRT
Capital Group LLC is a Connecticut limited liability company with its
                    principal business office at 262 Harbor Drive, Stamford, Connecticut
06907.                     Michael Vaughn and J. Christopher Young possess voting and
dispositive power                     over the shares held by CRT Capital Group LLC. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(8)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                AF
Capital LLC is a Connecticut limited liability limited partnership with its
                    principal business office at 49 Richmondville Avenue, Suite 200,
Wesport,                     Connecticut 06880. Anthony R. Fasone, President of AF
Capital LLC, possesses                     voting and dispositive power over the shares
held by AF Capital LLC. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(9)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                    Prism
Capital 5 , L.P. is a Texas limited partnership with its principal
                    business office at 4229 Cochran Chapel, Dallas, Texas 75209. Dennis
J. Wong,                     President, Prism Capital Corp. which is the General Partner
of Prism Capital 5,                     LP and Richard D. Squires, Vice President, Prism
Capital Corp. which is the                     General Partner of Prism Capital 5, LP,
possess voting and dispositive power                     over the shares held by Prism
Capital 5, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(10)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                   WPG-Farber
QP Fund, L.P. is a Delaware limited partnership with its principal
                    business office at 909 Third Avenue, 32<SUP>nd </SUP> Floor, New
York, New York                     10022. Gerald Farber and Daniel Vandivort possess
voting and dispositive power                     over the shares held by WPG-Farber QP
Fund, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(11)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                     WPG-Farber
Overseas Fund, L.P. is a Cayman Islands limited partnership with its
                    principal business office at 909 Third Avenue, 32<SUP>nd</SUP> Floor,
New York,                     New York 10022. Gerald Farber and Daniel Vandivort possess
voting and                     dispositive power over the shares held by WPG-Farber
Overseas Fund, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(12)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                     Hatteras
Special Situations Master Fund, Ltd. is a Cayman Islands corporation
                    with its principal business office at 625 Slaters Lane, Suite 204,
Alexandria,                     Virginia 22314. Scott McKay and James Dunn possess voting
and dispositive power                     over the shares held by Hatteras Special
Situations Masters Fund, Ltd. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(13)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                   Hatteras
Special Situations, L.P. is a Delaware limited partnership with its
                    principal business office at 625 Slaters Lane, Suite 204, Alexandria,
Virginia                     22314. Scott McKay and James Dunn possess voting and
dispositive power over the                     shares held by Hatteras Special
Situations, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(14)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                    Core
Funds, L.P. is a Delaware limited partnership with its principal business
                    office at 600 California Street, 9<SUP>th</SUP> Floor, San Francisco,
California                     94108. David Baker possesses voting and dispositive power
over the shares held                     by Core Funds, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(15)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                     JMG
Triton Offshore Fund, Ltd. is a British Virgin Islands company with its
                    principal business office at 11601 Wilshire Boulevard, Suite 2180,
Los Angeles,                     California 90025. Jonathan M. Glaser and Roger Richter
possess voting and                     dispositive power over the shares held by JMG
Triton Offshore Fund, Ltd. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(16)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                     Triage
Capital Management, Ltd. is a Delaware limited partnership, with its
                    principal business office at 401 City Avenue, Suite 800, Bala Cynwyd,
                    Pennsylvania 19004. Leon Frenkel, Sr. possesses voting and
dispositive power                     over the shares held by Triage Capital Management,
Ltd. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(17)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                   Triage
Capital Management B, L.P. is a Delaware limited partnership with its
                    principal business office at 401 City Avenue, Suite 800, Bala Cynwyd,
                    Pennsylvania 19004. Leon Frenkel, Sr. possesses voting and
dispositive power                     over the shares held by Triage Capital Management
B, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(18)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                     Endurance
Partners (Q.P.), L.P. is a Texas limited partnership with its
                    principal business office at 4514 Cole Avenue, Suite 808, Dallas,
Texas 75025.                     Timothy G. Ewing possesses voting and dispositive power
over the shares held by                     Endurance Partners (Q.P.), L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(19)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                     Endurance
Partners, L.P. is a Texas limited partnership with its principal
                    business office at 4514 Cole Avenue, Suite 808, Dallas, Texas 75205.
Timothy G.                     Ewing possesses voting and dispositive power over the
shares held by Endurance                     Partners, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(20)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                   Trellus
Partners II, L.P. is a Delaware limited partnership with its principal
                    business office at 350 Madison Avenue, 9<SUP>th </SUP> Floor, New
York, New York                     10017. Adam Usden possesses voting and dispositive
power over the shares held by                     Trellus Partners II, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(21)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                    Trellus
Partners, L.P. is a Delaware limited partnership with its principal
                    business office at 350 Madison Avenue, 9<SUP>th </SUP> Floor, New
York, New York                     10017. Adam Usden possesses voting and dispositive
power over the shares held by                     Trellus Partners, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>17 </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(22)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                  Trellus
Offshore Fund Limited is a Cayman Islands corporation with its principal
                    business office at 350 Madison Avenue, 9<SUP>th </SUP> Floor, New
York, New York                     10017. Adam Usden, Patrick Agemian, and Richard
Crawshaw possess voting and                     dispositive power over the shares held by
Trellus Offshore Fund Limited. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(23)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                    River
Run Fund, Ltd is a Cayman Islands corporation with an address of 152 W.
                    57<SUP>th</SUP> Street, 52<SUP>nd</SUP> Floor, New York, New York
10019. Ian                     Wallace possesses voting and dispositive power over the
shares held by River Run                     Fund, Ltd. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(24)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                  River
Run Partners, L.P. is Delaware corporation with an address of 152 W.
                    57<SUP>th</SUP> Street, 52<SUP>nd</SUP> Floor, New York, New York
10019. Ian                     Wallace possesses voting and dispositive power over the
shares held by River Run                     Partners, L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=1><I>(25)</I> </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=1>                    Westcap
Securities, Inc., a registered broker-dealer, was our placement agent in
                    regards to the financing with Barron Partners, L.P. Westcap
Securities, Inc.                     principal business office is 18201 Von Karmen
Avenue, Suite 550, Irvine,                     California 92612. Westcap Securities is a
California corporation. Thomas S.                     Rubin possesses voting and
dispositive power over the shares held by Westcap                     Securities, Inc. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman,
Sachs &amp; Co., CRT Capital Group LLC and Westcap Securities, Inc. are registered
broker-dealers and are deemed to be underwriters with respect to their shares. No other
selling stockholder is affiliated with a registered broker-dealer. Each of Goldman, Sachs
&amp; Co., CRT Capital Group LLC and Westcap Securities, Inc. purchased their shares in
the ordinary course of business, and at the time of such purchase, none of the
aforementioned organizations had any agreements or understandings, directly or indirectly
with any person to distribute the shares. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PLAN OF DISTRIBUTION </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
prospectus covers 21,910,965 shares of our common stock that are outstanding and held by
21 institutional stockholders, including 7,857,996 shares of our common stock that are
issuable to two institutional stockholders upon: (i) the conversion of 742,214 shares of
our Series A Convertible Preferred Stock into 7,422,139 shares of our common stock, and
(ii) the exercise of warrants to purchase up to 435,857 shares of our common stock. We
will not realize any proceeds from the sale of the shares by the selling stockholders. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
shares covered by this prospectus may be offered and sold from time to time by the selling
stockholders. The term &#147;selling stockholders&#148; includes donees, pledgees,
transferees or other successors-in-interest selling shares received after the date of this
prospectus from the selling stockholders as a gift, pledge, partnership distribution or
other non-sale related transfer. The selling stockholders will act independently of us in
making decisions with respect to the timing, manner and size of each sale. Such sales may
be made on one or more exchanges or in the over-the-counter market or otherwise, at prices
and under terms then prevailing or at prices related to the then current market price or
in negotiated transactions. The selling stockholders may sell their shares by one or more
of, or a combination of, the following methods: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>purchases
by a broker-dealer as principal and resale by such broker-dealer for its own account
pursuant to this prospectus;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ordinary
brokerage transactions and transactions in which the broker solicits purchasers;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>block
trades in which the broker-dealer so engaged will attempt to sell the shares as agent but
may position and resell a portion of the block as principal to facilitate the
transaction; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>an
over-the-counter distribution;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>in
privately negotiated transactions; and</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>in
options transactions.</FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, any shares that qualify for sale pursuant to Rule 144 may be sold under Rule 144
rather than pursuant to this prospectus. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent required, this prospectus may be amended or supplemented from time to time to
describe a specific plan of distribution. In connection with distributions of the shares
or otherwise, the selling stockholders may enter into hedging transactions with
broker-dealers or other financial institutions. In connection with such transactions,
broker-dealers or other financial institutions may engage in short sales of the common
stock in the course of hedging the positions they assume with selling stockholders. The
selling stockholders may also sell the common stock short and redeliver the shares to
close out such short positions. The selling stockholders may also enter into option or
other transactions with broker-dealers or other financial institutions which require the
delivery to such broker-dealer or other financial institution of shares offered by this
prospectus, which shares such broker-dealer or other financial institution may resell
pursuant to this prospectus (as supplemented or amended to reflect such transaction). The
selling stockholders may also pledge shares to a broker-dealer or other financial
institution, and, upon a default, such broker-dealer or other financial institution, may
effect sales of the pledged shares pursuant to this prospectus (as supplemented or amended
to reflect such transaction). </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>18 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
effecting sales, broker-dealers or agents engaged by the selling stockholders may arrange
for other broker-dealers to participate. Broker-dealers or agents may receive commissions,
discounts or concessions from the selling stockholders in amounts to be negotiated
immediately prior to the sale. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
offering the shares covered by this prospectus, the selling stockholders and any
broker-dealers who execute sales for the selling stockholders may be deemed to be
&#147;underwriters&#148; within the meaning of the Securities Act in connection with such
sales. Any profits realized by the selling stockholders and the compensation of any
broker-dealer may be deemed to be underwriting discounts and commissions. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
order to comply with the securities laws of certain states, if applicable, the shares must
be sold in such jurisdictions only through registered or licensed brokers or dealers. In
addition, in certain states the shares may not be sold unless they have been registered or
qualified for sale in the applicable state or an exemption from the registration or
qualification requirement is available and is complied with. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will make copies of this prospectus available to the selling stockholders for the purpose
of satisfying the prospectus delivery requirements of the Securities Act. The selling
stockholders may indemnify any broker-dealer that participates in transactions involving
the sale of the shares against certain liabilities, including liabilities arising under
the Securities Act. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the time a particular offer of shares is made, if required, a prospectus supplement will
be distributed that will set forth the number of shares being offered and the terms of the
offering, including the name of any underwriter, dealer or agent, the purchase price paid
by any underwriter, any discount, commission and other item constituting compensation, any
discount, commission or concession allowed or reallowed or paid to any dealer, and the
proposed selling price to the public. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have agreed to indemnify the selling stockholders against certain liabilities, including
certain liabilities under the Securities Act. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC
such indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue. </FONT></P>


<BR><BR><BR><BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>19 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DESCRIPTION OF CAPITAL
STOCK </FONT></H1>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are authorized to issue 110,000,000 shares of common stock, $.001 par value per share. As
of March 31, 2006, there were 47,504,222 shares of common stock outstanding, held of
record by approximately 194 registered stockholders. Our common stock is traded on the OTC
Bulletin Board under the symbol &#147;WDPT.&#148; Holders of our common stock are entitled
to one vote for each share held on all matters submitted to a vote of stockholders and do
not have cumulative voting rights. Holders of common stock are entitled to receive ratably
such dividends, if any, as may be declared by the board of directors out of funds legally
available therefore, subject to a preferential dividend right of outstanding preferred
stock. Upon the liquidation, dissolution or our winding up, the holders of common stock
are entitled to receive ratably our net assets available after the payment of all debts
and other liabilities and subject to the prior rights of any outstanding preferred stock.
The outstanding shares of common stock are fully paid and non-assessable. The rights,
preferences and privileges of holders of common stock are subject to, and may be adversely
affected by the rights of the holders of shares Series A Convertible Preferred Stock and
of any additional series of preferred stock that we may designate and issue in the future. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Preferred Stock </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
certificate of incorporation authorizes us to issue up to 10,000,000 shares of preferred
stock, $0.001 par value per share. As of March 31, 2006, there were 998,714 shares of
preferred stock outstanding, all of which are shares of Series A Convertible Preferred
Stock. Under the terms of our certificate of incorporation, the board of directors is
authorized, subject to any limitations prescribed by law, without stockholder approval, to
issue such shares of preferred stock in one or more series. Each such series of preferred
stock shall have such rights, preferences, privileges and restrictions, including voting
rights, dividend rights, conversion rights, redemption privileges and liquidation
preferences, as shall be determined by the board of directors. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
purpose of authorizing the board of directors to issue preferred stock and determine its
rights and preferences is to eliminate delays associated with a stockholder vote on
specific issuances. The issuance of preferred stock, while providing desirable flexibility
in connection with possible acquisitions and other corporate purposes, could have the
effect of making it more difficult for a third part to acquire, or of discouraging a third
party from acquiring, a majority of our outstanding voting stock. We have no present plans
to issue any additional shares of preferred stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to our Certificate of Designation of Preferences, Rights and Limitations of Series A
Convertible Preferred Stock, filed with the Secretary of State of the State of Delaware on
November 9, 2004, 2,045,714 shares of our preferred stock are designated as Series A
Convertible Preferred Stock having the following rights: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
share of Series A Convertible Preferred Stock has a conversion rate equal to $0.175 per
share and is convertible at the option of the holder into ten shares of common stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The conversion of the Series A
Convertible Preferred Stock is subject to the following conditions: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Subject
to waiver, holders of Series A Convertible Preferred Stock do not have the right to
convert any portion of the preferred stock to the extent that after giving effect to such
conversion, the holder (together with any affiliates of the holder), would beneficially
own in excess of 4.99% of the number of shares of the common stock outstanding
immediately after giving effect to such conversion. In the event the converted shares
when issued and combined with all other shares of common stock beneficially owned by the
holder and its affiliates equals, at any time, more than 4.99% of the total number of
then outstanding shares of common stock, then for so long as such holder and its
affiliates beneficially owns more than 4.99% of the total number of then outstanding
shares of common stock, the holder of the converted shares and its affiliates shall have
no more than 22% of the total voting power of all outstanding shares of common stock at
any time. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders
of our Series A Convertible Preferred Stock are entitled to receive a liquidation
preference equal to $1.75 per share in the event of the liquidation, dissolution, or
winding up of our business. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>20 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders
of Series A Convertible Preferred Stock are not entitled to voting rights. However, unless
approved by the holders of the outstanding Series A Convertible Preferred Stock, we
cannot: (a) alter or change adversely the powers, preferences or rights given to the
Series A Convertible Preferred Stock or alter or amend the certificate of designation
relating to the Series A Convertible Preferred Stock, (b) authorize or create any class of
stock ranking as to dividends or distribution of assets upon a liquidation senior to or
otherwise pari passu with the Series A Convertible Preferred Stock, (c) amend our
certificate of incorporation or other charter documents in breach of the certificate of
designations, or (d) increase the authorized number of shares of Series A Convertible
Preferred Stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends
are not payable with respect to the Series A Convertible Preferred Stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares
of Series A Convertible Preferred Stock are subject to automatic conversion generally
under the following circumstances: (i) a change in control of WidePoint, (ii) the
consummation of a public offering (with a value of at least $5 million or more) of our
common stock, (iii) upon receipt of the consent of all holders of the Series A Convertible
Preferred Stock, or (iv) in the event that the fair market value of the outstanding shares
of our common stock exceeds $100 million. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the terms of a preferred stock purchase agreement, master amendment, warrants and other
related agreements between us and Barron, on October 25, 2004 and October 29, 2004, we
issued and sold, an aggregate of 2,045,714 shares of our Series A Convertible Preferred
Stock and warrants to purchase up to 10,228,571 shares of our common stock for an
aggregate price of $3,580,000. In April, May, September, October, and December of 2005,
Barron converted 750,000 shares of its preferred stock into 7,500,000 shares of common
stock, and exercised all of its warrants to purchase 7,428,571 shares of common stock. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Warrants </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><B>Barron
Partners L.P. Warrants</B></I> </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the terms of a preferred stock purchase agreement, master amendment, warrants and other
related agreements between us and Barron Partners L.P., or Barron, on October 25, 2004 and
October 29, 2004, we issued and sold, an aggregate of 2,045,714 shares of our Series A
Convertible Preferred Stock and warrants to purchase up to 10,228,571 shares of our common
stock for an aggregate price of $3,580,000. In April, May, September, October, and
December of 2005, Barron converted 850,000 shares of its preferred stock into 8,500,000
shares of common stock, and exercised all of its warrants to purchase 7,428,572 shares of
common stock. In December 2005, institutional investors to whom Barron transferred the
balance of its warrants exercised such warrants to purchase 2,800,000 shares of common
stock. The warrants had a per share exercise price of $0.40. As of the date of this
Prospectus, all such warrants had been exercised. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><B>Westcap
Warrants</B></I> </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to
the terms of an agreement we executed with Westcap Securities, Inc. on October 1, 2004 to
act as a placement agent for the Company, we agreed to provide Westcap or its designees
with warrant coverage of 2.5% of the amount of equity raised under the same terms as
Barron. As a result of the Barron financing transaction, we issued warrants to Westcap in
October 2004 to purchase 511,428 shares of our common stock at an exercise price of $0.40
per share, which warrants expire in October 2009. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><B>Chesapeake
Warrants</B></I> </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the terms of the agreement and plan of merger agreement we executed with Chesapeake
Government Technologies, Inc., or Chesapeake, on April 30, 2004, we acquired all of the
outstanding stock of Chesapeake. In connection with the merger transaction, we issued to
each of Mark C. Fuller, John D. Crowley and Jay O. Wright, the sole stockholders of
Chesapeake, a warrant to purchase up to 1,814,658 shares of our common stock at an
exercise price of $0.235 per share, with such warrant only being exercisable in the event
that the revenues actually received by us from the business acquired from Chesapeake in
the merger transaction exceeded certain established threshold levels. As a result of the
failure by us to receive such threshold level of revenues from the business acquired from
Chesapeake in the merger transaction, this warrant has been terminated. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Management
Warrants</B></I></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>21 </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the terms of the warrant agreements we executed on July 14, 2004 with Steve Komar,
James McCubbin and Mark Mirabile, we issued to each of them a warrant to purchase
1,333,333 shares of the common stock at $0.235 per share, all of which were vested as of
December 31, 2005. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registration Rights </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
part of our issuances of Series A Convertible Preferred Stock and warrants to Barron on
October 25, 2004, and October 29, 2004, we executed a registration rights agreement with
Barron and granted piggy-back registration rights to Westcap pursuant to which we agreed
to register 20,457,140 shares of our common stock issuable upon the conversion of those
shares of Series A Convertible Preferred Stock and 10,739,999 shares of our common stock
issuable upon the exercise of those warrants. We also agreed with the 26 institutional
shareholders who purchased a total of 16,400,000 shares of common stock from Barron in
April, May, September, October and December of 2005 that such shares would be covered by
this prospectus and such stockholders would be listed as selling stockholders herein. As
of the date of this Prospectus, all such warrants issued by us to Barron had been
exercised. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
a registration rights agreement, between Barron and us, related to the stock issuances
described in the preceding paragraph, we were obligated to file a registration statement
on or prior to December 24, 2004 covering the resale of the shares of our common stock
issuable upon conversion and/or exercise of the Series A Convertible Preferred Stock and
the warrants issued to Barron in the two above-described transactions. We agreed to use
our best efforts to cause the registration statement to be declared effective by the
Securities and Exchange Commission by April 23, 2005 and thereafter kept effective through
October 20, 2007, subject to permissible blackout periods and registration maintenance
periods, then we will be required to pay Barron a maximum penalty equaling $20,000 for
each month the registration statement is not effective. Barron has waived the penalty
through December 31, 2005. On February 9, 2006, the SEC granted our request for
acceleration and our registration statement became effective on that date under the
Securities Act of 1933. With this updated registration statement and prospectus, we are
continuing to fulfill our obligations to keep these shares registered. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Delaware Law And Certain
Charter And By-Law Provisions </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are subject to the provisions of Section 203 of the General Corporation Law of Delaware.
Section 203 prohibits a publicly held Delaware corporation from engaging in a
&#147;business combination&#148; with any interested stockholder for a period of three
years after the date of the transaction in which the person became an interested
stockholder, unless the business combination is approved in a prescribed manner. A
&#147;business combination&#148; includes mergers, asset sales and other transactions
resulting in a financial benefit to the interested stockholder. Subject to certain
exceptions, an &#147;interested stockholder&#148; is (i) a person who, together with
affiliates and associates, owns 15% or more of our voting stock or (ii) an affiliate or
associate of WidePoint who was the owner, together with affiliates and associates, of 15%
or more of our outstanding voting stock at any time within the 3-year period prior to the
date for determining whether such person is &#147;interested.&#148; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
certificate of incorporation also provides that any action required or permitted to be
taken by our stockholders at an annual meeting or special meeting of stockholders may be
taken without such meeting only by the unanimous consent of all stockholders entitled to
vote on the particular action. Under our by-laws, in order for any matter to be considered
properly brought before a meeting, a stockholder must comply with certain requirements
regarding advance notice to WidePoint. The foregoing provisions could have the effect of
delaying until the next stockholders&#146; meeting stockholder actions which are favored
by the holders of a majority of our outstanding voting securities. These provisions may
also discourage another person or entity from making a tender offer for our common stock,
because such person or entity, even if it acquired a majority of our outstanding voting
securities, would be able to take action as a stockholder (such as electing new directors
or approving a merger) only at a duly called stockholders&#146; meeting, and not by
written consent. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
General Corporation Law of Delaware provides generally that the affirmative vote of a
majority of the shares entitled to vote on any matter is required to amend a
corporation&#146;s certificate of incorporation or by-laws, unless a corporation&#146;s
certificate of incorporation or by-laws, as the case may be, requires a greater
percentage. Our certificate of incorporation and by-laws do not require a greater
percentage vote. Our board of directors is classified into three classes of directors,
with approximately one-third of the directors serving in each such class of directors and
with one class of directors being elected at each annual meeting of stockholders to serve
for a term of three years or until their successors are elected and take office. Our
by-laws provide that the board of directors will determine the number of directors to
serve on the board. Our board of directors presently consists of five members. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>22 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
certificate of incorporation contains certain provisions permitted under the General
Corporation Law of Delaware relating to the liability of directors. The provisions
eliminate, to the fullest extent permitted by the General Corporation Law of Delaware, a
director&#146;s personal liability to WidePoint or its stockholders with respect to any
act or omission in the performance of his or her duties as a director of WidePoint. Our
certificate of incorporation also allows us to indemnify our directors, to the fullest
extent permitted by the General Corporation Law of Delaware. We believe that these
provisions will assist us in attracting and retaining qualified individuals to serve as
directors. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>LEGAL MATTERS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
validity of the common stock offered hereby will be passed upon for us by Foley &amp;
Lardner LLP, Washington, D.C. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXPERTS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
financial statements of WidePoint as of December 31, 2005 and for the year then ended
incorporated by reference in this Prospectus have been so incorporated in reliance on the report of Epstein,
Weber &amp; Conover P.L.C., independent registered public accounting firm, given on the
authority of said firm as experts in auditing and accounting. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
financial statements of WidePoint as of December 31, 2004 and 2003 and for each of the two
years in the period ended December 31, 2004 incorporated by reference in this Prospectus have been so
incorporated in reliance on the report of Grant Thornton LLP, independent registered public
accounting firm, given on the authority of said firm as experts in auditing and
accounting. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WHERE YOU CAN FIND
MORE INFORMATION </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
file reports, proxy statements and other documents with the SEC. You may read and copy any
document we file at the SEC&#146;s public reference room at 100 F Street, N.E.,
Washington, D.C. 20549. You should call 1-800-SEC-0330 for more information on the public
reference room. Our SEC filings are also available to you on the SEC&#146;s Internet site
at http://www.sec.gov. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
prospectus is part of a registration statement that we filed with the SEC. The
registration statement contains more information than this prospectus regarding us and our
common stock, including certain exhibits and schedules. You can obtain a copy of the
registration statement from the SEC at the address listed above or from the SEC&#146;s
internet site. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INCORPORATION OF
CERTAIN DOCUMENTS BY REFERENCE </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following documents filed by the Company with the Commission (File No. 000-23967) pursuant
to Section 13 of the Exchange Act are hereby incorporated by reference in this Prospectus: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1. </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Annual
Report on Form 10-K for the fiscal year ended December 31, 2005, filed on           March
31, 2006; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2. </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Current
Report on Form 8-K (Item 5.02), filed on March 13, 2006; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3. </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Current
Report on form 8-K (Item 4.01), filed on February 28, 2006; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4. </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amendments,
filed on January 19, 2006, to Quarterly Reports on Form 10-QSB for           the quarters
ended March 31, 2005, June 30, 2005 and September 30, 2005; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5. </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amendment,
filed on January 19, 2006, to Current Report on Form 8-K, filed on           October 25,
2004; </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6. </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amendment
No. 3, filed on January 19, 2006, to Annual Report on Form 10-K for           the fiscal
year ended December 31, 2004; and </FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Page Number Center" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23 </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amendments,
filed on January 19, 2006, to Quarterly Reports on Form 10-Q for the quarters ended June
30, 2004 and September 30, 2004. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will provide without charge to each person to whom a copy of this Prospectus is
delivered, upon the written or oral request of such person, a copy of any or all of the
documents incorporated herein by reference (not including the exhibits to such documents,
unless such exhibits are specifically incorporated by reference in such documents).
Requests for such copies should be directed to James T. McCubbin, Chief financial Officer
and Secretary, WidePoint Corporation, One Lincoln Centre, Oakbrook Terrace, Illinois
60181, and our telephone number is 630-629-0003. The documents can also be accessed on the
Company&#146;s website at www.widepoint.com. </FONT></P>


<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24 </FONT></P>

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<HR SIZE=5 COLOR=GRAY NOSHADE>




<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART II </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION NOT
REQUIRED IN PROSPECTUS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 13. Other Expenses
Of Issuance And Distribution </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The following table sets forth the
estimated expenses incurred and to be incurred to date in connection with the issuance and
distribution of the securities being registered hereby (other than underwriting discounts
and commissions), all of which have been or will be borne by us. All amounts shown are
estimates, except the SEC registration fee which was previously paid upon the filing of
the original Resgistration Statement. </FONT></P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=60% align=center>
<TR VALIGN=Bottom>
     <TD WIDTH=75% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Filing Fee--Securities and Exchange Commission</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD><TD WIDTH=17% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>   2,496.90</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Legal fees and expenses</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> 410,000.00</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Accounting fees and expenses</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> 100,000.00</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Printing fees</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>   2,000.00</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Miscellaneous expenses</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  10,000.00</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR NOSHADE COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Expenses</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> 524,496.90</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR NOSHADE COLOR=#000000 SIZE=1></TD><TD></TD></TR>
</TABLE>





<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 14. Indemnification
Of Directors And Officers </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
102 of the Delaware General Corporation Law allows a corporation to eliminate the personal
liability of directors of a corporation to the corporation or its stockholders for
monetary damages for a breach of fiduciary duty as a director, except where the director
breached his duty of loyalty, failed to act in good faith, engaged in intentional
misconduct or knowingly violated a law, authorized the payment of a dividend or approved a
stock repurchase in violation of Delaware corporate law or obtained an improper personal
benefit. WidePoint Corporation has included such a provision in its Certificate of
Incorporation. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
145 of the General Corporation Law of Delaware provides that a corporation has the power
to indemnify a director, officer, employee or agent of the corporation and certain other
persons serving at the request of the corporation in related capacities against amounts
paid and expenses incurred in connection with an action or proceeding to which he is or is
threatened to be made a party by reason of such position, if such person shall have acted
in good faith and in a manner he reasonably believed to be in or not opposed to the best
interests of the corporation, and, in any criminal proceeding, if such person had no
reasonable cause to believe his conduct was unlawful; provided that, in the case of
actions brought by or in the right of the corporation, no indemnification shall be made
with respect to any matter as to which such person shall have been adjudged to be liable
to the corporation unless and only to the extent that the adjudicating court determines
that such indemnification is proper under the circumstances. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article
EIGHTH of the registrant&#146;s Certificate of Incorporation provides to the full extent
permitted by the law or any of the applicable laws presently or hereafter in effect, no
director of the registrant will be personally liable to the registrant or its stockholders
with respect to any act or omission in the performance of his or her duties as a director
of the registrant. Any amendment or repeal of this Article VIII will not adversely affect
any right or protection of a director of the registrant with respect to any act or
omission occurring before such amendment or repeal. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article
NINTH of the registrant&#146;s Certificate of Incorporation provides that the registrant
shall indemnify (a) any person who was or is a party or is threatened to be made a party
to any threatened, pending or completed proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the
registrant), by reason of the fact that he is or was, a director of the registrant, or is
or was serving, or has agreed to serve, at the request of the registrant, as a director,
(all such persons being referred to hereafter as an &#147;Indemnitee&#148;), to the full
extent then permitted by law against judgments, fines, penalties, excise taxes, amounts
paid in settlement and costs charges and expenses (including attorneys&#146; fees and
disbursements) that he or she incurs in connection with such proceeding. The right to
indemnification will continue as to an Indemnitee who has ceased to hold the position by
virtue if which he or she was entitled to indemnification, and will inure to the benefit
of his or her heirs and personal representatives. The registrant will, from time to time,
reimburse or advance to any Indemnitee the funds necessary for payment of expenses,
including attorneys&#146; fees and disbursements, incurred in connection with defending
any proceeding for which he or she is indemnified by the registrant, in advance of the
final disposition of such proceeding; provided that, if then required by law, the expenses
incurred by or on behalf of an Indemnitee may be paid in advance of the final disposition
of a proceedings only upon receipt by the Corporation of an undertaking by or on behalf of
such director or officer to repay any such amount so advanced if it is ultimately
determined by a final and unappealable judicial decision that the Indemnitee is not
entitled to be indemnified for such expenses. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II-1 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
registrant has purchased directors&#146; and officers&#146; liability insurance that would
indemnify its directors and officers against damages arising out of certain kinds of
claims that might be made against them based on their negligent acts or omissions while
acting in their capacity as such. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 15. Recent Sales of
Unregistered Securities </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the terms of a preferred stock purchase agreement, master amendment, warrants and
other related agreements between us and Barron Partners L.P. (&#147;Barron&#148;), on
October 25, 2004 and October 29, 2004, we issued and sold an aggregate of 2,045,714
shares of our Series A Convertible Preferred Stock (convertible into 20,457,140 of our
common stock) and warrants to purchase up to 10,228,571 shares of our common stock, for
an aggregate price of $3,580,000. The proceeds from this sale were used for a portion of
the purchase price paid by us for ORC. The financings were made pursuant to the exemption
from the registration provisions of the Securities Act of 1933, as amended, provided by
Section 4(2) of the Act. The securities issued in the financings have not been registered
under the Act and may not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements. With this registration statement
and prospectus, we are fulfilling our obligations to register the common stock underlying
these securities under the registration rights agreement executed in connection with the
financings. In connection with the Barron financing, we also issued warrants to Westcap
Securities, Inc., registered broker-dealer and our placement agent in the Barron
financing transaction, for Westcap to purchase 511,428 shares of our common stock at the
exercise price of $0.40 per share, which warrants expire in October 2009.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the agreement and plan of merger agreement we executed with Chesapeake
Government Technologies, Inc., or Chesapeake, on April 30, 2004, we issued to each of Mark
C. Fuller, John D. Crowley and Jay O. Wright, who together were the prior sole
stockholders of Chesapeake, a warrant to purchase up to 1,814,658 shares of our common
stock at an exercise price of $0.235 per share. Each warrant was exercisable only under
certain conditions. Each warrant terminated as of January 1, 2006. Such warrants were
issued without registration under the Securities Act of 1933 in reliance upon Section 4(2)
thereunder. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
April, May, August, September, and December of 2005, we issued and sold a total of
7,428,572 shares of common stock to Barron for a total purchase price of $2,971,429 upon
the exercise of warrants previously issued to it as discussed above. In December 2005, we
issued and sold a total of 2,800,000 shares of common stock to seven institutional
investors upon the exercise of warrants for a total purchase price of $1,120,000. The
proceeds from this sale were used for working capital. Such shares were issued without
registration under the Securities Act of 1933 in reliance upon Section 4(2) thereunder. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 16. Exhibits </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
exhibits listed in the Exhibit Index immediately preceding the exhibits are incorporated
herein by reference or filed as part of this Registration Statement on Form S-1. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 17. Undertakings </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes: </FONT></P>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<I>(1)</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;                    To
file, during any period in which offers or sales are being made, a
          post-effective amendment to this Registration Statement:  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          To
include any prospectus required by Section 10(a)(3) of the Securities Act;  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  To
reflect in the prospectus any facts or events arising after the effective date of this
Registration Statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement; and </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(iii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;                    To include any material
information with respect to the plan of distribution           not previously disclosed
in this Registration Statement or any material change           to such information in
this Registration Statement.  </FONT></TD>
</TR>
</TABLE>
<BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II-2 </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<I>(2)</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;                    That,
for the purposes of determining any liability under the Securities Act,           each
post-effective amendment shall be deemed to be a new registration statement
          relating to the securities offered therein, and the offering of such securities
          at the time shall be deemed to be the initial bona fide offering thereof.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<I>(3)</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;                    To
remove from registration by means of a post-effective amendment any of the
          securities being registered which remain unsold at the termination of the
          offering.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<I>(4)</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;                    That,
for the purpose of determining liability under the Securities Act of 1933           to
any purchaser, each prospectus filed pursuant to Rule 424(b) as part of a
          registration statement relating to an offering shall be deemed to be part of
and           included in the registration statement as of the date it is first used
after           effectiveness. Provided, however, that no statement made in a
registration           statement or prospectus that is part of the registration statement
or made in a           document incorporated or deemed incorporated by reference into the
registration           statement or prospectus that is part of the registration statement
will, as to a           purchaser with a time of contract of sale prior to such use,
supersede or modify           any statement that was made in the registration statement
or prospectus that was           part of the registration statement or made in any such
document immediately           prior to such date of first use.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the
indemnification provisions described herein, or otherwise, the Registrant has been advised
that in the opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of
expenses incurred or paid by a director, officer or controlling person of the Registrant
in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Securities Act and
will be governed by the final adjudication of such issue. </FONT></P>


<BR><BR><BR><BR><BR><BR><BR><BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II-3 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, as amended, the Registrant certifies
that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-1 and has duly caused this Post-Effective Amendment No. 1 to the Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the town of Boca
Raton, Florida, on April 28, 2006. </FONT></P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WIDEPOINT CORPORATION</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:&nbsp;&nbsp;<U>/s/ Steve L. Komar</U></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steve L. Komar</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
</TABLE>


<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II-4 </FONT></P>

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<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, as amended, this Post-Effective Amendment
has been signed by the following persons in the capacities and on the dates indicated: </FONT></P>




<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Signature</FONT><HR WIDTH=60% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>/s/ Steve L. Komar</FONT></TD>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chief Executive Officer and Chairman</FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 28, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR NOSHADE width=60% COLOR=#000000 SIZE=1></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Principal executive officer)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Steve L. Komar</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>/s/ James T. McCubbin</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chief Financial Officer, Treasurer, Secretary</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 28, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR NOSHADE width=60% COLOR=#000000 SIZE=1></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>and Director (Principal financial</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>James T. McCubbin</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>and accounting officer)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>BY: /s/ James T. McCubbin*</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director and Assistant Secretary</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 28, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Attorney-in-Fact</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR NOSHADE width=60% COLOR=#000000 SIZE=1></TD></tr>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>James M. Ritter</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>BY: /s/ James T. McCubbin*</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 28, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Attorney-in-Fact</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR NOSHADE width=60% COLOR=#000000 SIZE=1></TD></tr>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Morton S. Taubmann</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>BY: /s/ James T. McCubbin*</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 28, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Attorney-in-Fact</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR NOSHADE width=60% COLOR=#000000 SIZE=1></TD></tr>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Mark Mirabile</FONT></TD></TR>
</TABLE>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* James T. McCubbin, by signing his
name hereto, does sign this document on behalf of each of the persons indicated above
pursuant to the power of attorney duly executed by such persons and filed with the
Securities and Exchange Commission. </FONT></P>


<BR><BR><BR><BR><BR><BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II-5 </FONT></P>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT INDEX </FONT></H1>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=10% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Exhibit <BR>No.</B></FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD WIDTH=90% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Description</B></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.1  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock
Purchase Agreement among ZMAX Corporation, Michael C. Higgins and Michael S. Cannon,
                dated November 6, 1996, for the acquisition of Century Services, Inc.
 (Incorporated                 herein by reference to Exhibit 2.1 to the Registrant&#146;s
Registration Statement on Form S-4                 (File No. 333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.2  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Agreement
and Plan of Merger between ZMAX Corporation and New ZMAX Corporation, dated June 10,
1999. (Incorporated herein by reference to Exhibit 2.2 to the Registrant&#146;s
Registration Statement on Form S-4 (File No. 333-29833).) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.1  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amended
and Restated Certificate of Incorporation of WidePoint Corporation. (Incorporated herein
by reference to Exhibit A to the Registrant&#146;s Definitive Proxy Statement, as filed
on December 27, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.2  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Bylaws
 of ZMAX  Corporation.  (Incorporated  herein by  reference  to  Exhibit  3.6 to the
                Registrant&#146;s Registration Statement on Form S-4 (File No. 333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Warrant to  Purchase  Common  Stock of ZMAX  Corporation.  (Incorporated  herein by
                reference to Exhibit 4.2 to the Registrant&#146;s  Registration  Statement on
Form S-4 (File No.                 333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.1  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Legal
Opinion of Foley &amp; Lardner LLP (Filed with  Amendment No. 1 of the Form S-1 on May 5,
                2005).</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ZMAX
 Corporation 1999 Stock Incentive Plan.  (Incorporated  herein by reference to Exhibit
                10.1 to the Registrant&#146;s Registration Statement on Form S-4 (File No.
333-29833).)*</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.2  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of ZMAX Corporation 1999  Non-qualified  Stock Option Award (form of grant and vesting
                schedule).   (Incorporated  herein  by  reference  to  Exhibit  10.2  to
 the  Registrant&#146;s                 Registration Statement on Form S-4 (File No.
333-29833).)*</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.3  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ZMAX
 Corporation  1999  Directors  Formula  Stock  Option  Plan.  (Incorporated  herein by
                reference to Exhibit 10.3 to the Registrant&#146;s  Registration Statement on
Form S-4 (File No. 333-29833).)* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.4  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of ZMAX  Corporation  Directors  Formula Stock Option Award (form of grant and vesting
                schedule).   (Incorporated  herein  by  reference  to  Exhibit  10.4  to
 the  Registrant&#146;s                 Registration Statement on Form S-4 (File No.
333-29833).)*</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.5  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
Agreement between Century Services,  Inc. and Michael C. Higgins, dated November
                6,  1996.   (Incorporated   herein  by  reference  to  Exhibit  10.5  to
 the  Registrant&#146;s Registration Statement on Form S-4 (File No. 333-29833).)* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.6  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>First
Amendment to the Employment  Agreement between Century Services,  Inc. and Michael C.
                Higgins,  dated May 21,  1999.  (Incorporated  herein by  reference  to
Exhibit 10.6 to the                 Registrant&#146;s Registration Statement on Form S-4 (File
No. 333-29833).)*</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.7  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
 Agreement between Century  Services,  Inc. and Joseph Yeh, dated June 18, 1999.
                (Incorporated  herein  by  reference  to  Exhibit  10.7  to the
 Registrant&#146;s  Registration Statement on Form S-4 (File No. 333-29833).)* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.8  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Separation
Agreement between Century Services,  Inc. and Michael S. Cannon, dated April 22,
                1999.  (Incorporated  herein by reference to Exhibit 10.8 to the
Registrant&#146;s  Registration Statement on Form S-4 (File No. 333-29833).)* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.9  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consulting
 Agreement among ZMAX  Corporation,  MBY, Inc. and Michel Berty,  dated April 1,
                1999.  (Incorporated  herein by reference to Exhibit 10.9 to the
Registrant&#146;s  Registration                 Statement on Form S-4 (File No. 333-29833).)*</FONT></TD>
</TR>
</TABLE>
<BR>

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<HR SIZE=1 NOSHADE WIDTH=15% color=black ALIGN=LEFT>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* &#151; Management contract or
compensatory plan. </FONT></P>



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<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=10% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Exhibit <BR>No.</B></FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD WIDTH=90% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Description</B></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.10  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consulting
 Agreement  among ZMAX  Corporation,  Wareham  Management  Ltd. And G.W.  Norman
                Wareham,  dated May 30, 1999.  (Incorporated  herein by  reference to
Exhibit  10.10 to the                 Registrant&#146;s Registration Statement on Form S-4
(File No. 333-29833).)*</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.11  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consulting
 Agreement  between ZMAX  Corporation and Shafiq  Nazerali,  dated May 30, 1999.
                (Incorporated  herein  by  reference  to  Exhibit  10.11 to the
 Registrant&#146;s  Registration                 Statement on Form S-4 (File No. 333-29833).)*</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.12  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Earn
Out Stock Escrow  Agreement  among ZMAX  Corporation,  Michael C. Higgins,  Michael S.
                Cannon and  Powell,  Goldstein,  Frazer &amp; Murphy,  dated  November  6,
1996.  (Incorporated                 herein by reference to Exhibit  10.12 to the
 Registrant&#146;s  Registration  Statement on Form                 S-4 (File No. 333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.13  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ZMAX
 Corporation  Stockholders  Agreement among Michael C. Higgins,  Michael S. Cannon and
                ZMAX  Corporation,  dated  November 6, 1996.  (Incorporated  herein by
reference to Exhibit                 10.13 to the Registrant&#146;s Registration Statement on
Form S-4 (File No. 333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.14  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock
Pledge and Security  Agreement from Michael C. Higgins in favor of ZMAX  Corporation,
                dated  November  6,  1996.  (Incorporated  herein  by  reference  to
 Exhibit  10.14 to the                 Registrant&#146;s Registration Statement on Form S-4
(File No. 333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.15  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Letter
Agreement among ZMAX  Corporation,  IMS  International,  Inc., Wan Hsien Information
                International  Corporation,   Ltd.,  Multi-Dimension   International,
  and  Institute  for                 Information  Industry  Regarding the Purchase by
ZMAX Corporation of the &#147;COCACT&#148;  Software                 Program,  dated April 30,
1999.  (Incorporated  herein by reference to Exhibit 10.15 to the
                Registrant&#146;s Registration Statement on Form S-4 (File No. 333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.16  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Letter
Agreement between ZMAX Corporation and Institute for Information Industry Regarding the
Purchase by ZMAX Corporation of the &#147;COCACT&#148; Software Program, dated April 30,
1999. (Incorporated herein by reference to Exhibit 10.16 to the Registrant&#146;s
Registration Statement on Form S-4 (File No. 333-29833).) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.17  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Letter
Agreement between ZMAX Corporation and Wan Hsien Information International Corporation
Ltd. Regarding the Purchase by ZMAX Corporation of the &#147;COCACT&#148;Software
Program, dated April 30, 1999, as amended. (Incorporated herein by reference to Exhibit
10.17 to the Registrant&#146;s Registration Statement on Form S-4 (File No. 333-29833).) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.18  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Conversion
 Agreement  between Fiserv Federal  Systems,  Inc. and ZMAX  Corporation,  dated
                April 28, 1999.  (Incorporated  herein by reference  to Exhibit  10.18 to
the  Registrant&#146;s  Registration Statement on Form S-4 (File No. 333-29833).) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.19  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Agreement
between ZMAX Corporation and Investor  Communications  Company,  LLC, dated as of
                May 20,  1999.  (Incorporated  herein  by  reference  to  Exhibit  2.2 to
the  Registrant&#146;s                 Registration Statement on Form S-4 (File No.
333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.20  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Investor
Relations Consulting Agreement between ZMAX Corporation and Investor Communications
Company, LLC, dated as of May 20, 1999. (Incorporated herein by reference to Exhibit
10.20 to the Registrant&#146;s Registration Statement on Form S-4 (File No.
                333-29833).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.21  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Agreement
and Plan of Merger, dated as of December 14, 1998, by and among ZMAX Corporation, Eclipse
Acquisition Corporation, Eclipse Information Systems, Inc., and Frank Schultz, Mark
Mirabile, John Schultz, Scott Shedd, Brad Adams, Ron Hilicki, Fred Anderson, Harold
Zimmerman, Chris Gildone, Dave Vittitow, Kristina Palmer, Tom Carroll and Gary Singer.
(Incorporated herein by reference to Exhibit 2 to the Registrant&#146;s Current Report of
Form 8-K, as filed on December 29, 1998 (File No. 333-555993).) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.22  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Agreement
and Plan of Merger, dated as of October 1, 1999, by and among ZMAX Corporation, Parker
Acquisition Corporation, Parker Management Consultants, Ltd., Westmont Non-Grantor Trust,
and Kenneth W. Parker and Jennifer L Parker. (Incorporated herein by reference to Exhibit
2 to the Registrant&#146;s Current Report of Form 8-K, as filed on October 18, 1999
   (File No. 333-55993).)</FONT></TD>
</TR>
</TABLE>
<BR>


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<HR SIZE=1 NOSHADE WIDTH=15% color=black ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* &#151; Management contract or
compensatory plan. </FONT></P>


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<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=10% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Exhibit <BR>No.</B></FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD WIDTH=90% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Description</B></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.23  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
 Agreement  between ZMAX Corporation and Michael C. Higgins,  dated September 1,
                1999.*  (Incorporated  herein by reference to Exhibit 10.23 to
Registrant&#146;s  Report of Form                 10-K, as filed on March 30, 2000 (File No.
000-23967).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.24  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
 Agreement  between ZMAX Corporation and James T. McCubbin,  dated  Registrant&#146;s
                Report of Form 10-K, as filed on March 30, 2000 (File No. 000-23967).)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.25  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Separation
Agreement between WidePoint  Corporation and Michael C. Higgins,  dated December
                31, 2001.*</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.26  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
Agreement between WidePoint Corporation and Steve Komar, dated July 1, 2002.*
(Incorporated herein by reference to Exhibit 10.26 to Registrant&#146;s Report of Form
10Q, as filed on August 15, 2002 (File No. 000-23967).) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.27  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
Agreement between WidePoint Corporation and James McCubbin, dated July 1, 2002.*
(Incorporated herein by reference to Exhibit 10.26 to Registrant&#146;s Report of Form
10Q, as filed on August 15, 2002 (File No. 000-23967) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.28  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
Agreement between WidePoint Corporation and Mark Mirabile, dated July 1, 2002.*
(Incorporated herein by reference to Exhibit 10.26 to Registrant&#146;s Report of Form
10Q, as filed on August 15, 2002 (File No. 000-23967).) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.29  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Agreement
and Plan of Merger by and among  WidePoint  Corporation,  Chesapeake  Acquisition
                Corporation,  Chesapeake Government Technologies,  Inc. and Mark C.
Fuller, John D. Crowley                 and Jay O. Wright.  (Incorporated  herein by
reference to Exhibit 10.1 to the  Registrant&#146;s Current Report on Form 8-K filed on May
14, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.30  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Escrow
Agreement by and among WidePoint  Corporation,  Mark C. Fuller, John D. Crowley, Jay
                O. Wright and Foley &amp; Lardner  LLP.  (Incorporated  herein by  reference
to Exhibit 10.2 to                 the Registrant&#146;s Current Report on Form 8-K filed on
May 14, 2004.)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.31  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock
 Pledge  Agreement  by and  among  WidePoint  Corporation,  Mark C.  Fuller,  John D.
                Crowley,  Jay O.  Wright and Foley &amp; Lardner  LLP.  (Incorporated  herein
by  reference  to                 Exhibit 10.3 to the Registrant&#146;s Current Report on Form
8-K filed on May 14, 2004.)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.32  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
and Non-Compete  Agreement  between  WidePoint  Corporation and Mark C. Fuller.*
                (Incorporated  herein by reference to Exhibit 10.4 to the  Registrant&#146;s
 Current  Report on Form 8-K filed on May 14, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.33  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
and Non-Compete  Agreement between  WidePoint  Corporation and John D. Crowley.*
                (Incorporated  herein by reference to Exhibit 10.5 to the  Registrant&#146;s
 Current  Report on Form 8-K filed on May 14, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.34  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consulting
and  Non-Compete  Agreement  between  WidePoint  Corporation and Jay O. Wright.*
                (Incorporated  herein by reference to Exhibit 10.6 to the  Registrant&#146;s
 Current  Report on Form 8-K filed on May 14, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.35  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Warrant
Agreement between WidePoint  Corporation and Mark C. Fuller.  (Incorporated  herein
                by reference to Exhibit 10.7 to the  Registrant&#146;s  Current  Report on
Form 8-K filed on May 14, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.36  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Warrant
Agreement between WidePoint  Corporation and John D. Crowley.  (Incorporated herein
                by reference to Exhibit 10.8 to the  Registrant&#146;s  Current  Report on
Form 8-K filed on May 14, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.37  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Warrant
 Agreement between WidePoint  Corporation and Jay O. Wright.  (Incorporated  herein
                by reference to Exhibit 10.9 to the  Registrant&#146;s  Current  Report on
Form 8-K filed on May 14, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=15% color=black ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* &#151; Management contract or
compensatory plan. </FONT></P>



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<HR SIZE=5 COLOR=GRAY NOSHADE>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=10% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Exhibit <BR>No.</B></FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD WIDTH=90% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Description</B></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.38  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Preferred
Stock Purchase  Agreement Between  WidePoint  Corporation and Barron Partners LP.
                (Incorporated  herein by reference to Exhibit 10.1 to the  Registrant&#146;s
 Current  Report on  Form 8-K/A filed on November 2, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.39  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common
 Stock  Purchase  Warrant  between  WidePoint  Corporation  and Barron  Partners LP.
                (Incorporated  herein by reference to Exhibit 10.2 to the  Registrant&#146;s
 Current  Report on Form 8-K/A filed on November 2, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.40  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registration
 Rights  Agreement  between  WidePoint  Corporation  and Barron  Partners  LP.
                (Incorporated  herein by reference to Exhibit 10.3 to the  Registrant&#146;s
 Current  Report on Form 8-K/A filed on November 2, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.41  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Certificate
Of Designations, Rights And Preferences Of The Series A Convertible Preferred Stock
between WidePoint Corporation and Barron Partners LP (Incorporated herein by reference to
Exhibit 10.4 to the Registrant&#146;s Current Report on Form 8-K/A filed on November 2,
2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.42  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock
Purchase Agreement between WidePoint  Corporation,  Operational Research Consultants,
                Inc.  (Incorporated  herein by reference to Exhibit 10.5 to the
Registrant&#146;s Current Report on Form 8-K/A filed on November 2, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.43  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Master
Amendment between WidePoint Corporation and Barron Partners L.P. (Incorporated herein by
reference to Exhibit 10.1 to the Registrant&#146;s Current Report on Form 8-K filed on
November 11, 2004.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.44  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common
Stock Purchase  Warrant between  WidePoint  Corporation and Westcap  Securities Inc.
                relating  to 285,714  shares  (Incorporated  herein by  reference  to
Exhibit  10.44 of the                 Registrant&#146;s Annual Report on form 10-K for the
year ended December 31, 2004.)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.45  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common
Stock Purchase Warrant between WidePoint  Corporation and Westcap  Securities,  Inc.
                relating  to 225,714  shares  (Incorporated  herein by  reference  to
Exhibit  10.45 of the                 Registrant&#146;s Annual Report on form 10-K for the
year ended December 31, 2004.)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.46  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Letter  Agreement  between  Goldman, Sachs &amp; Co., Barron Partners L.P. and WidePoint
                Corporation,  as executed on April 26, 2005.  (Filed as Exhibit  10.46 to
the  Registrant&#146;s Amendment No. 1 to Form S-1 as filed on May 5, 2005.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.47  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Letter  Agreement  between  Goldman, Sachs &amp; Co., Barron Partners L.P. and WidePoint
                Corporation,  as executed on April 28, 2005.  (Filed as Exhibit  10.47 to
the  Registrant&#146;s Amendment No. 1 to Form S-1 as filed on May 5, 2005.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.48  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Loan
and Security Agreement,  dated as of October 22, 2004, by and between RBC Centura Bank
                and WidePoint  Corporation.  (Filed as Exhibit 10.48 to the Registrant&#146;s
Amendment No. 3 to                 Form S-1 as filed on January 27, 2006.)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.49  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Letter
 Amendment  to Loan and  Security  Agreement,  dated as of February 7, 2005,  by and
                between  RBC  Centura  Bank,  WidePoint  Corporation  and  the
 subsidiaries  of  WidePoint                 Corporation.  (Filed as Exhibit  10.49 to
the  Registrant&#146;s  Amendment No. 3 to Form S-1 as                 filed on January 27,
2006.)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.50  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment
and Non-Compete  Agreement,  dated as of October 24, 2004,  between  Operational
                Research  Consultants  Inc., the Registrant and Daniel Turissini (Filed
as Exhibit 10.50 to                 the Registrant&#146;s Amendment No. 3 to Form S-1 as filed
on January 27, 2006.)*</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>21  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Subsidiaries
of WidePoint Corporation. (Incorporated herein by reference to Exhibit 21 to the
Registrant&#146;s Annual Report on Form 10-K for the year ended December 31, 2005.) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1A  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Grant Thornton LLP (Filed as Exhibit 23.1A to the  Registrant&#146;s  Amendment No. 1
                to Form S-1 as filed on May 5, 2005)</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=15% color=black ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* &#151; Management contract or
compensatory plan. </FONT></P>



<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 38; page: 38" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=10% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Exhibit <BR>No.</B></FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD WIDTH=90% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Description</B></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1B  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Updated
 consent  of Grant  Thornton  LLP  (Filed  as  Exhibit  23.1B  to the  Registrant&#146;s
                Amendment No. 3 to Form S-1 as filed on January 27, 2006)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1C  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Grant Thornton LLP (Filed herewith)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1D  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Epstein, Weber &amp; Conover P.L.C. (Filed herewith)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.2  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
 of  Stephen  Earl  Edwards,  CPA.  (Filed  as  Exhibit  23.2  to the  Registrant&#146;s
                Amendment No. 1 to Form S-1 as filed on May 5, 2005.)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power
of Attorney (included on page II-4 of original Form S-1)</FONT></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=15% color=black ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* &#151; Management contract or
compensatory plan. </FONT></P>

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<FILENAME>ballotx.jpg
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<TEXT>
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`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1C
<SEQUENCE>4
<FILENAME>cmw2151a.htm
<DESCRIPTION>CONSENT
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 23.1C </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>We have issued our report dated April
14, 2005 accompanying the consolidated balance sheet of WidePoint Corporation and
subsidiaries as of December 31, 2004, and the related consolidated statements of
operations, shareholders&#146; equity and cash flows for the years ended December 31, 2004
and 2003, included in WidePoint Corporation&#146;s Annual Report on Form 10-K for the year
ended December 31, 2005, which are incorporated by reference into the Registration
Statement on this Post-Effective Amendment No. 1 of Form S-1 (File No. 333-121858) and Prospectus of WidePoint Corporation. We
consent to the incorporation by reference of the aforementioned report in the Registration
Statement and Prospectus, and to the use of our name as it appears under the caption
&#147;Experts.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/     GRANT THORNTON
LLP </FONT></P>




<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chicago, Illinois<BR>April 28, 2006  </FONT></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1D
<SEQUENCE>5
<FILENAME>cmw2151b.htm
<DESCRIPTION>CONSENT
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 23.1D </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>We have issued our report dated March
27, 2006 accompanying the consolidated balance sheet of WidePoint Corporation and
subsidiaries as of December 31, 2005, and the related consolidated statements of
operations, shareholders&#146; equity and cash flows for the year then ended,
included in WidePoint Corporation&#146;s Annual Report on Form 10-K for the year ended
December 31, 2005, which are incorporated by reference into the Registration Statement on
this Post-Effective Amendment No. 1 of Form S-1 (File No. 333-121858) and Prospectus of WidePoint Corporation. We consent to the
incorporation by reference of the aforementioned report in the Registration Statement and
Prospectus, and to the use of our name as it appears under the caption
&#147;Experts.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/     EPSTEIN, WEBER &amp; CONOVER
P.L.C. </FONT></P>




<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Scottsdale, Arizona<BR>April 25, 2006  </FONT></P>


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</TEXT>
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