BOSTON, Jan. 23, 2006 (PRIMEZONE) -- Technest Holdings, Inc. (www.technestholdings.com) (OTCBB:TCNH), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that it's wholly owned subsidiary Genex Technologies, Inc. (www.genextech.com) has been awarded a Phase 2 SBIR to provide additional engineering development and prototype manufacturing work on an innovative wireless perimeter video surveillance sensor.
The unmanned ground sensor (UGS) can provide the user with the capability to transmit video images in both the visible and near infrared (NIR) optical spectrums for all day, night and weather operations. The wireless video sensor provides the following operational characteristics:
-- Day/night motion detection
-- Ad hoc self forming wireless interface for mass
network based deployments
-- Remote alerts to user via PDA
-- Wide 150 degree field of view
-- Miniature low power battery operated form factor
for tactical missions
The small size, battery power, low light and wireless network capabilities of this remote video surveillance sensor make it ideal for applications such as military force protection and security of large area and remote geographic locations such as borders, nuclear and chemical facilities etc.
The UGS wireless video sensor represents a new generation of portable intelligent surveillance tools that can act as a force multiplier by extending the eyes of the soldier for use in urban combat environments or alternatively can be used to monitor vast unprotected expanses of our northern and southern borders in the United States.
Technest Holdings, Inc. (www.technestholdings.com) (OTCBB:TCNH) 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 Holdings had fiscal first quarter ended September 30, 2005, sales revenues of $19M and a funded backlog as of November 31, 2005, of $55.2M.
About Technest Holdings, Inc.
Technest Holdings, Inc. (OTCBB:TCNH) 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 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), 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. www.sec.gov/
Technest Holdings, Inc. is a featured Company on www.HomelandDefenseStocks.com, a service for which Technest Holdings compensates the provider.
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