BOSTON, April 20, 2006 (PRIMEZONE) -- Genex Technologies, Inc. (www.genextech.com), a wholly owned subsidiary of Technest Holdings, Inc. (OTCBB:TCNH), a defense and homeland security company, announced today that it presented at the 2006 International Society for Optical Engineering (SPIE) Defense and Security Symposium, held in Orlando, FL from April 17-21.
During the presentation, Dr. Steven Yi, Director of Research and Development at Genex Technologies, introduced Genex's innovative multiple tracking system, SmartMTI, designed specifically for intelligent surveillance applications on moving platforms, such as Unmanned Aerial Vehicles (UAVs) and Unmanned Ground Vehicles (UGVs).
"We believe that Genex's proprietary state-of-the-art MTI framework is able to seamlessly integrate motion detection and target tracking methods to create a multiple tracking system that effectively addresses a myriad of targeting challenges," Dr. Yi stated. "Integrated with Genex's own miniaturized DSP/FPGA data processing hardware, we believe our system will be able to detect and track multiple targets in real time with an extremely low miss-detection rate."
Dr. Yi's presentation, "A Novel Multiple Target Tracking System for UAV Platforms," followed the opening keynote presentation during the session on April 19 devoted to the topic of Airborne Intelligence, Surveillance, Reconnaissance (ISR) Systems and Applications.
About Technest Holdings, Inc.
Technest Holdings, Inc. 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. For more information, visit the company's website at http://www.technestholdings.com.
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, product capabilities, 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: product malfunctions; 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.