Technest Holdings Inc. (OTCBB: THNS), an integrated homeland security company, announced today that its wholly owned subsidiary Genex Technologies, Inc. (Genex) (http://www.genextech.com), a supplier of advanced imaging, surveillance and security sensors has developed a suite of intelligent surveillance products specifically intended for use in the Homeland Security and DOD marketplaces.
RIDGEFIELD, CT April 30, 2005 -- Technest Holdings Inc. (OTCBB: THNS), an integrated homeland security company, announced today that its wholly owned subsidiary Genex Technologies, Inc. (Genex) (http://www.genextech.com), a supplier of advanced imaging, surveillance and security sensors has developed a suite of intelligent surveillance products specifically intended for use in the Homeland Security and DOD marketplaces.
Genex, which has a patent portfolio of over 20 issued and pending US patents for video and imaging technologies, offers the following intelligent video surveillance capabilities:
OmniEye- A family of wide field of view sensors capable of up to 360 degrees coverage which combine high resolution and low power consumption. These sensors include Genex's unique patented mirror and multi sensor technologies that provide panoramic viewing with no moving parts. Two such sensors are the WellCam(TM) and the Cerberus(TM).
The WellCam(TM) fits in the palm of your hand and weighs less than 10 ounces. It sees in 360 degrees at all times and is fully weatherproofed. The WellCam(TM) has been utilized by the US Army to detect weapons caches hidden in subterranean storage locations in Afghanistan and Iraq. The WellCam(TM) was selected as the US Army's Night Vision and Electronic Sensors Directorate Product of the Year in 2003.
OmniEye Cerberus(TM) is a reconfigurable multi-sensor system that is designed for long distance infrared and visible detection. Recent trends in mounted cameras for manned and unmanned vehicles have created the need for a distributable multi-sensor capability. The Cerberus(TM) delivers this flexibility while still maintaining seamless panoramic coverage up to 360-degrees.
The unique architecture of the OmniEye Cerberus(TM) also allows it to be stackable, for multiple layers of sensors with different strengths. Combine infrared, near-infrared, image intensified, MWIR, SWIR, and visible sensors to achieve unparalleled fused vision and motion detection to provide improved night vision in 360-degrees.
OmniEye Cerberus(TM) is designed for rugged field and maritime/naval operations, with full salt-water resistant; watertight and pressure-resistant enclosures.
? Smart Optical Sensor (SOS)-A new generation of very compact high speed signal processing hardware that can be fit inside the sensor allowing for intelligent surveillance detection and classification accomplished remotely and in real time within the sensor. Combined with high speed wireless communications the SOS brings a whole new dimension to intelligent remote surveillance applications.
? Smart Suite- A robust collection of intelligent algorithms which enable existing surveillance sensor systems to perform advanced tasks such as motion detection, image enhancement, and tracking. A next-generation processing architecture, the Smart Optical Sensor (SOS), powers the algorithms to deliver unprecedented speed and results in a small, low-cost, low-power form factor.
These products have been field tested and custom designed for numerous applications for government and military customers.
About Technest Holdings Inc.
Technest Holdings, Inc. 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.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Technest Holdings officials 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 company's government customers, difficulties integrating our acquisition of Genex, 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.
Source: Technest Holdings Inc.
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