Technest Holdings Inc. Provides Business Status Update, Corporate Profile Data and Announces Strategic Initiatives for 2006.BOSTON -- Corporate Strategic Initiatives Are Focused On Marketing Product Portfolio and Capturing Intelligence Agency Opportunities Technest Holdings, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:TCNH TCNH Tender Care Nursing Home (Midland, Michigan) .OB), http://www.technestholdings.com ; a defense and homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States company transforming advanced laboratory technology into real-world products, announced today a business status update, corporate profile data and a number of strategic initiatives that the company intends to pursue in 2006. Business Status Update The company stated that it believes that fundamentals which affect its business and financial operating status are robust and expected by management to improve. A few of the most recent status achievements are as follows: --Fiscal first quarter ended September 30, 2005 sales revenues of $19M. --Funded backlog as of November 31, 2005 of $55.2M. --US Army Night Vision and Electronic Sensors Directorate (NVESD NVESD Night Vision and Electronic Sensors Director/Directorate (US Army) ) Omnibus contract awards exceeding $29.0M since July 15, 2005. The Army's NVESD research and development group is one of the U.S. military's most advanced technological leaders. Technest Holdings wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. EOIR EOIR Executive Office of Immigration Review EOIR Electro-Optic Infrared EOIR Enhanced Online Insertion and Removal Technologies Inc. is working on a range of next-generation technology solutions for the NVESD, including night vision and advanced sensor applications, disposable sensors and other threat-detection systems. --Subsidiary EOIR Technologies, Inc. awarded a SeaPort Enhanced (SeaPort-e) Multiple Award Contract (MAC). The U.S. Navy is awarding indefinite-delivery/indefinite-quantity multiple award contracts to 503 contractors under this procurement program. The Government estimates a maximum of $5.3 Billion of services will be procured per year via orders issued under the SeaPort-e multiple award contracts amongst the group of contractors. The awards have a four-year base period with one five-year award term and one additional one-year award term. Contract funds will be obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. at the time of task order award and as such, multiple funding types (with varying expiration dates) may be used, consistent with the purpose for which the funds were originally appropriated by Congress. --Subsidiary EOIR Technologies awarded a contract by the US Army National Ground Intelligence Center The National Ground Intelligence Center (NGIC) is part of the United States Army Intelligence and Security Command. The NGIC provides scientific and technical intelligence (S& TI) and general military intelligence (GMI) on foreign ground forces in support of the war fighting (NGIC NGIC National Ground Intelligence Center (Charlottesville, VA) NGIC National Gang Intelligence Center (Department of Justice) NGIC National Geodetic Information Center ) to provide technical services to the Measurement and Signatures Division. The award is a competitive follow-on for EOIR, who will continue to provide support in the areas of signature collections, computational modeling, CAD modeling, sensor data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a , sensor integration, and software development. As part of the Department of Defense Intelligence Production Program, NGIC collects, models, processes and analyzes scientific and technical intelligence The product resulting from the collection, evaluation, analysis, and interpretation of foreign scientific and technical information that covers: a. foreign developments in basic and applied research and in applied engineering techniques; and b. products in the area of Measurement and Signature Intelligence Technically derived intelligence that detects, locates, tracks, identifies, and describes the unique characteristics of fixed and dynamic target sources. Measurement and signature intelligence capabilities include radar, laser, optical, infrared, acoustic, nuclear radiation, radio (MASINT MASINT Measurement and Signatures Intelligence MASINT Measurement and Signal Intelligence ) of rotor (helicopters), ground systems (tanks, rocket launchers, armored personnel carriers, light trucks, etc.), and munitions mu·ni·tion n. War materiel, especially weapons and ammunition. Often used in the plural. tr.v. mu·ni·tioned, mu·ni·tion·ing, mu·ni·tions To supply with munitions. (rocket propelled grenades, mortars, etc.). Corporate Profile Data Technest Holdings, Inc. (OTC BB:TCNH.OB), http://www.technestholdings.com, is presently comprised of two operating subsidiaries; EOIR Technologies Inc (EOIR) and Genex Technologies Inc (Genex). Our corporate mission statement is" Securing America by Providing Innovative, Emerging Technologies and Expert services to Protect People, Borders, and Infrastructure." Summary of Products and Services Remote Sensor Systems and Technologies For Military And Intelligence Applications EOIR provides advanced remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. technology products and services to the DOD (1) (Dial On Demand) A feature that allows a device to automatically dial a telephone number. For example, an ISDN router with dial on demand will automatically dial up the ISP when it senses IP traffic destined for the Internet. and to various other United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. intelligence agencies. EOIR's most significant source of revenues is an Omnibus Contract with the United States Army United States Army Major branch of the U.S. military forces, charged with preserving peace and security and defending the nation. The first regular U.S. fighting force, the Continental Army, was organized by the Continental Congress on June 14, 1775, to supplement local Night Vision and Electronic Sensors Directorate. The Omnibus Contract has an extensive and varied scope that requires us to provide a very broad range of products and technical services. For those products and technical services that EOIR does not possess in-house, we subcontract to our team members and other subcontractors as necessary. As a prime contractor, EOIR is responsible for the technical performance of all of its products and services delivered to the customer. Primary revenue streams are derived from the delivery of products and services which provide the customer with: advanced development product concepts; low volume produced prototypes; advanced signal processing See DSP. algorithms and software; advanced systems integration; engineering and evaluation services; data collection and processing capabilities and other highly differentiated and proprietary products and services. Products EOIR develops and produces highly advanced remote sensing hardware and software system products for our government customer base. Our products extend the range of our remote sensor services, encompassing the full spectrum of sensor science, systems integration, and system support. Below is a list of our current products in production and or advanced stages of development: --LRAS (Long Range Scout Surveillance System) - Third generation upgrade of multi-spectral infrared sensing platform comprised of Ultra Narrow Field of View Optics and Multi Spectral Aided Target Detection. --AACES - Remote stand off chemical detector which consists of a Fourier Transform Fourier transform In mathematical analysis, an integral transform useful in solving certain types of partial differential equations. A function's Fourier transform is derived by integrating the product of the function and a kernel function (an exponential function raised to Infrared (FTIR FTIR Fourier Transform Infrared (spectroscopy) FTIR Frustrated Total Internal Reflection FTIR Fourier Transfer Ir ) sensor, a digital signal processor A digital signal processor (DSP) is a specialized microprocessor designed specifically for digital signal processing, generally in real-time computing. Characteristics of typical Digital Signal Processors
--ACADA (Automatic Chemical Agent Detection and Alarm) - Man portable chemical agent point detector sensor system which utilizes Ion Mobility Spectroscopy technology to detect chemical agents such as Tabun tabun (tä`bən), liquid chemical compound used as a nerve gas. It boils at 240°C; with some decomposition. The liquid is colorless to brownish; its vapors have a fruity odor similar to that of bitter almonds. , Sarin sarin (zärēn`), volatile liquid used as a nerve gas. It boils at 147°C; but evaporates quickly at room temperature; its vapor is colorless and odorless. , and classic nerve agents. This unit has been mass produced and deployed throughout the US Navy. --STUDS - Disposable and wireless low light visibility sensor intended for use in urban combat and perimeter defense A defense without an exposed flank, consisting of forces deployed along the perimeter of the defended area. applications. --SERTS(TM) (Safety Evaluation Range Training System) - Audio and video recording system that allows instructors to instruct, review, and qualify trainees. SERTS SERTS Solar Extreme-Ultraviolet Rocket Telescope and Spectrograph SERTS Software Engineering for Real-Time Systems Laboratory is a minimally intrusive, multi-platform compatible, audio/video monitoring system that brings range evaluators to the action inside a host of live fire exercise vehicles. It transmits live audio and video from the exercise vehicle directly to a range tower for exercise monitoring, recording, and post exercise review. --Head Tracker - The Head Tracker Sensor Suite is a gimbal-based system that allows a user to be in a tank, with a Heads Up Mounted Display to view Forward Looking Infra [Latin, Below, under, beneath, underneath.] A term employed in legal writing to indicate that the matter designated will appear beneath or in the pages following the reference. infra prep. Red imagery. The Heads Up Mounted Display contains inertial and optical trackers that are used to control the motion of the gimbal by the head motion of the operator. This allows the operator to see where the gimbal is looking without having to put his head out of the tank. The Forward Looking Infra Red imagery can be used in a variety of modes to include fused sensor data and picture within a picture images. --USRD (Universal Sensor Remote Device) - Embedded system Any electronic system that uses a CPU chip, but that is not a general-purpose workstation, desktop or laptop computer. Such systems generally use microprocessors, or they may use custom-designed chips or both. that allows multiple sensors to be remotely controlled. USRD is designed to remotely control and retrieve data from multiple sensors and transfer data to a base station through wired and wireless communications. --Pelco Camera Translators - Embedded system that allows non-Pelco cameras to be integrated into Pelco networks, that is, it allows non-Pelco cameras to be controlled by a standard Pelco control network. --WinProc(TM) - A thermal imaging display and analysis software based tool designed for viewing and analyzing thermal images. It offers a range of features including Fourier analysis, high and low pass filters, thermal image calibration, image statistics, and advanced digital display algorithms. --IProc(TM) - An interferogram processing and analysis software based tool that permits analysis of interferograms from spectrometers. Designed for the analysis of remotely captured chemical emission spectral information, the analysis tool enables the recognition of targeted chemical signatures. --GPS GroundTruther - A software based tool that can be used to keep accurate positioning information for multiple vehicles during field tests. --TTAASP(TM) and EOIRTA(TM) - A software based tool that assists predictive modeling of thermal targets and is used to calculate detection probabilities of targets at arbitrary angles and ranges. Services EOIR has been providing highly differentiated services to government customers for nearly 20 years. Our scientific support spans a wide range of services, including the full spectrum of sensor sciences, systems integration, system support and software development, as more fully described below: --Sensor Science. Sensor science services at EOIR involve a multitude of spectral regions, ranging from visible to far infrared, developing, using and interpreting data from a number of different sensors including acoustic, radar, thermal, multi-spectral and hyper-spectral calibrated cal·i·brate tr.v. cal·i·brat·ed, cal·i·brat·ing, cal·i·brates 1. To check, adjust, or determine by comparison with a standard (the graduations of a quantitative measuring instrument): imagers. --Systems Integration. EOIR has the electrical and mechanical engineering design experience necessary to integrate laboratory prototypes into existing military sensor systems. --Technical Training. EOIR has the ability to develop classroom courses and computer-based and web-based trainers to satisfy unique customer requirements. EOIR is able to train on the use of sensor and detection equipment as well as teaching students how to interpret sensor signature data. --Software Development. EOIR develops customized sensor and data collection software platforms to satisfy a variety of unique customer requirements. Intelligent Surveillance Genex's intelligent surveillance portfolio is anchored by its real-time embedded image processing technology and its 3D facial recognition technology. Our products include OmniEye(TM) Wellcam, OmniEye(TM) Cerberus, Smart Optical Sensor (SOS SOS, code letters of the international distress signal. The signal is expressed in International Morse code as … — — — … (three dots, three dashes, three dots). ), Smart Suite(TM) and Omnivision. The OmniEye(TM)Wellcam is an ultra light, portable 360 degree field of view camera which can be used in field applications, such as detection of underground weapon caches and search and rescue beneath building rubble, due to its durability. The OmniEye(TM) Cerberus is a re-configurable multi-sensor system that is designed for long distance infrared and visible light detection. The OmniEye(TM) Cerberus delivers this flexibility while still maintaining seamless panoramic coverage up to 360 degrees. The Smart Optical Sensor high speed image processing platform powers Genex's Smart Suite(TM) algorithms, enhancing both new and existing sensor systems with capabilities including: reliable target detection, motion tracking, and object classification and recognition. Smart Suite(TM) algorithms by Genex are a portfolio of advanced video analysis and augmentation modules. The SOS is a powerful system that allows multiple cameras to be deployed easily in a distributed, scaleable network that provides autonomous surveillance. OmniVision is a software platform for Genex's wide range of security and surveillance camera products. Built as a modular system, OmniVision can operate as a standalone application or easily integrate into existing systems. The unique architecture of OmniVision puts next-generation capabilities within reach of traditional camera and digital video recorder See DVR. systems. The system includes software application modules for many different end user needs. Genex currently is engaged in programs to develop: disposable sensors for the U.S. Army Night Vision Lab; a miniature general purpose sensor processor for the U.S. Army Picatinny Arsenal; SmartMTI Motion Detection for the U.S. Army Armament Research, Development and Engineering Center; a weapon's flash detection system for the U.S. Navy Office of Naval Research The U.S. Office of Naval Research (ONR), headquartered in Arlington, Virginia (Ballston), is the office within the U.S. Department of the Navy that coordinates, executes, and promotes the science and technology programs of the U.S. ; and a smart object avoidance system for the U.S. Navy Naval Surface Warfare System. Chemical and Explosive Detection The company is targeting key sensing technologies that are critical to both DOD and Homeland Security missions: Chemical/Biological (Chem/Bio) and Improvised Explosive Devices (IED Noun 1. IED - an explosive device that is improvised I.E.D., improvised explosive device explosive device - device that bursts with sudden violence from internal energy ) detection sensors. Our Chem/Bio and IED group concentrates on the research and development of technologies that can reliably detect the presence of chemical, biological, and explosive devices or components from a stand-off distance utilizing multi spectral electro optical sensing methods. Under a Phase 2 Small Business Innovation Research ("SBIR SBIR Small Business Innovation Research (program/grant) SBIR Space Based Infra-Red SBIR Speaker-Boundary Interference SBIR Site Backsurface-referenced Ideal Plane/Range (silicon wafers) ") grant from the U.S. Army, Genex is developing a new and unique sensor that can remotely detect the presence of chemical and biological weapons. We intend to offer these standoff detection sensors in an integrated system solution approach which also includes point detection capability provided by the EOIR manufactured ACADA ACADA Automatic Chemical Agent Alarm (current definition) ACADA Automatic Chemical Agent Detector/Alarm (former definition) ACADA Avery Citizens Against Domestic Abuse (Newland, NC) system. The ACADA system utilizes Ion Mobility Spectroscopy cell based point detection chemical sensor technology. Advanced Technologies Research and Development The Advanced Technologies Research and Development group of Genex is focused on developing our imaging technology portfolio via advanced research in 3D facial recognition, intelligent surveillance 3D imaging, and medical imaging. By integrating our marketing pursuits with our R&D efforts, we can bring to market technological advances that have enhanced customer value. Some of our targeted research areas include: (i) fully integrated Surematch(TM) suite of 3D facial recognition software application programs, (ii) intelligent surveillance using two- and three-dimensional image processing to support homeland security, military, and commercial applications; (iii) detection of concealment of intent using thermal and 3D imaging to support anti-terrorist efforts; (iv) early detection of cancer using non-invasive and non-radiological diffuse optical tomography; and (v) more effective and less risky radiation treatment for cancer by use of 3D imaging for patient positioning. Strategic Initiatives for 2006 The company has organized its efforts to focus specifically on emerging product based revenue streams and to capture new burgeoning business opportunities in the areas of US Intelligence Agencies. Strategic business segments have been formed in the following areas; Technical Support Services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , Border and Port Surveillance Systems, Specialty Security and Intelligence Systems, and Training Devices. Joint venture partnerships and select accretive asset acquisitions are presently being studied to provide accelerated growth in our market niches. Technest Holdings Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert Tarini stated, "We are well positioned to grow the company in the coming year. Our highly differentiated remote sensing products and services are in high demand amongst our US customer base and we feel we can leverage our intellectual property to provide recurring product based revenues growth. Management believes that our financial position is strong and that our strategic initiatives for 2006 will improve corporate financial performance metrics and increase shareholder value." About Technest Holdings, Inc. Technest Holdings, Inc. (OTC BB:TCNH.OB) is a provider of: advanced remote sensor systems, chemical detectors, intelligent surveillance and advanced 3D imaging technology solutions to the defense and homeland security marketplaces. Technest is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. Technest's solutions support military, law enforcement and homeland security personnel. Through strategic development, Technest focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields. "Forward-Looking Statements" Investors are cautioned that certain statements contained in this press release as well as some statements in periodic press releases and some oral statements of Technest Holdings Inc. officers and directors during presentations about Technest Holdings , are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. ), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: a reduction in order rates from the Army's Night Vision and Electronic Surveillance Directorate, insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and; disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Technest Holdings, its products, economic and market factors and the industries in which Technest Holdings does business, among other things. These statements are not guarantees of future performance and Technest Holdings has no specific intention to update these statements. More detailed information about those factors is contained in Technest Holdings filings with the Securities and Exchange Commission. http://www.sec.gov/ Technest Holdings, Inc. is a featured Company on http://www.HomelandDefenseStocks.com, a service for which Technest Holdings compensates the provider. |
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