Updated Company Profile for Technest Holdings: This Company Profile/Fact
Sheet is prepared and distributed by Andrew Barwicki Co. (ABC). ABC Contact
Info: www.barwicki.com / 516-670-9083 /
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The United States has been thrust into a new era where
protecting our way of life here at home is priority one. Technest Holdings is
committed to the delivery of integrated security solutions to meet these new era
challenges: to protect our country's borders, infrastructure and personnel.
There is no doubt the threats against our country are real;
one of our most effective weapons is technology. The good news is that emerging
technologies to diminish these threats are available today.
Technest Holdings has proven management that can find,
develop, and integrate these technologies to provide significant revenues while
making our country safer. Technest Holdings has grown steadily through
acquisition of focused, revenue-producing security technology assets, which we
develop into optimized, profitable revenue streams.
Technest Holdings exists as a public corporate entity to
execute on a singular focus: to build and deliver a portfolio of integrated
proprietary world-class security solutions to our government and military
customer base. We sit squarely between a government customer with a long list of
needs for fully integrated solutions and a great big world filled with wondrous
gadgets which by themselves offer very little value on a standalone basis to the
customer. Technest Holdings has the capacity to bridge the gap.
Our business model has two basic components. The first component is to become an
incubator for emerging security technologies, which are in the final stages of
development and are market ready. This component offers investors significant
leverage and potential for investment return. The second component is to acquire
revenue-generating assets in the security marketplace, which have historical
positive cash flow but have not heretofore been optimized. This second component
offers investors stability and a financial base to build from.
Our
management depth provides the necessary oversight for the business model,
and the fragmented Homeland Security marketplace offers us the necessary
opportunities to financially exploit this model.
Less than 20 miles south of downtown San Diego lies
the world's busiest port of entry - the international border crossing between
San Ysidro, CA and Tijuana, Mexico. On the average day over 40,000 vehicles pass
through this location.
Port exit and entry security systems are undergoing
evolutionary changes to implement improvements. Such improvements are
necessitated by the ever increasing risks to un-authorized and illegal entry
into the country.
One such improvement is the Vehicle Stopping
System. It is designed and intended to safely capture "port runners".
"Port Runners" constitute an ever increasing threat to border integrity and
capturing them with minimal danger and threat to United States INS and Customs
Border Patrol agents has become a priority.The Vehicle Stopping System is
capable of stopping any vehicle attempting to gain illegal entry at speed up to
and exceeding 65 miles per hour safely; and without personal injury to occupants
and United States government border personnel.
In February 2005 Technest Holdings announced that it had completed a multi
part transaction which included the purchase of majority ownership of Technest
Holdings Inc (OTCBB: THNS ), and the subsequent purchase by Technest Holdings
Inc of all of the stock of Maryland based Genex Technologies, Inc. (http://www.genextech.com).
Genex is a supplier of advanced imaging, surveillance and security sensor
technologies. and has a patent portfolio of over 20 issued and pending US
patents for 3D video and imaging technologies.
Introducing SureMatch 3D™ Suite by Genex Technologies
Real-life applications demand reliable performance. Much of today’s facial
recognition technology simply cannot provide adequate performance because of the
fundamental limitations of 2D. Other biometrics such as fingerprint and iris
cannot identify suspects at a distance, non-cooperatively.
The answer lies in 3D technology.
Pose, lighting, and expression have historically prevented 2D facial
recognition from working well. Genex has addressed these problems by drawing
upon its extensive research in 3D imaging and 2D-to-3D facial structure
conversion.
SureMatch 3D is a suite of facial recognition tools that provides more robust
detection capabilities through 3D enhancement. By partnering with leading
biometrics companies, Genex has created a suite of facial recognition tools that
provides both an enhancement for existing biometrics users and market-leading
performance for new deployments. At the core Genex utilizes a recognition engine
based upon next-generation 3D-to-3D face matching. The suite also has tools that
allow seamless integration with existing 2D systems and databases to improve 2D
facial recognition..
The future of facial recognition is 3D. Genex’s solution offers a path for
users who need to effectively deploy recognition today and continue to harness
the latest improvements in the future.
Technology Focus
By partnering with leading biometrics companies, Genex has created a suite
of facial recognition tools that provides both an enhancement for existing
biometrics users and market-leading performance for new deployments. 3D
FaceMatch is a recognition engine based upon next-generation 3D-to-3D
comparison.
See in all directions! The OmniEye 360-degree family of surveillance systems
represents one of the video surveillance market’s leading and most flexible
wide-area sensor capabilities. Numerous configurations are available to meet
diverse needs for commercial, government, and military customers.
Smart Optical Sensor (SOS)
Remote your sensor! Genex introduces a new generation of high-speed
processing that is so small, it can fit inside your sensor. The Smart Optical
Sensor (SOS) brings a whole new dimension in intelligent surveillance. The SOS
enables remote surveillance by bringing USB 2.0, Ethernet, or wireless
interfaces to any sensor.
SmartSuite
Boost the intelligence of your sensor! Genex’s Smart Suite™ of intelligent
algorithms enable sensor existing 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.
OmniVision
The OmniVision software suite provides an advanced set of tools for users to
control cameras and algorithms. This modular application is available as a
Software Developer Kit (SDK).
Can machines keep us safe? Increased safety and security is the goal of the
remote standoff chemical detection and identification system
being developed for the Army by EOIR Technologies, a wholly owned subsidiary of
Technest Holdings, under a Phase 2 award of the Small Business Innovative
Research (SBIR) program. The system was designed with military applications in
mind, but Technest Holdings plans to develop variants of the system that will
make it appropriate for use in homeland security, environmental, and treaty
enforcement applications.
The chemical detection sensor and controls can be left unattended in an area
to monitor general air quality, or used to detect dangerous chemicals spread
intentionally to harm citizens. This unique standoff chemical detection and
identification system does not need to come in contact with chemicals to detect
and identify them. It can make assessments from a remote location, allowing the
EOIR-developed sensor to scan a much larger area than alternative systems that
operate by taking a sample of the contaminated air. This helps to avoid system
contamination, and also enables the system to monitor continuously to achieve
persistent surveillance.
The system consists of a Fourier Transform Infrared (FTIR) sensor, a digital
signal processing (DSP) board, a laptop computer and a handheld computer for
remote operation and identification relay. Designed to operate independently,
the system has a pan and tilt operation, allowing it to automatically scan a
region or concentrate on a specific area without the need for manual
intervention.
When in general scan mode, the sensor pans a predetermined area until it
detects a chemical signal that requires further investigation. At that point, it
hones in on that area and focuses the sensor to identify the chemical signal.
The system then sorts through a preexisting chemical library to identify the
specific chemical detected, and sends a warning message to a remote handheld
device.
The initial sensor, available in July, will be a pared down model without pan
or tilt options; the full-featured system with all available options will be
released in November. For more information, contact
Larry Fillian.
Technology Focus
Shipboard ACADA system
Technest Holdings subsidiary Science and Technology Research
Inc is the sole producer of the U. S. Navy’s Shipboard
Automatic Chemical Agent Detection and Alarm (ACADA) man-portable
point detection system used to detect all
classic nerve and blister agents as well as other chemical
warfare agent (CWA) vapors. The system is easily upgradeable for new and novel
agents. Designed and patented by the U.S. Navy, it is designed to operate in a
shipboard environment and to detect agents at low concentrations in real time
while ignoring the presence of common vapor interferents. The system has visible
and audible alarms.
The ability of the system to disregard common shipboard interferents, thus
minimizing false alarms, distinguishes it from other systems available on the
market. Vapor analysis is achieved by the use of two ion-mobility spectroscopy (IMS)
cells; a radioactive source, sealed inside each cell, is used as an ionizer.
Operational performance of the Shipboard ACADA system has been successfully
tested in the field and laboratories against live agents and against various
interferents present in shipboard environments. Laboratory tested agents
include:
GA Tabun
GB Sarin
VX Nerve Agent
HD Sulfur Mustard
GD Soman
The Shipboard ACADA system can operate approximately three
hours on its rechargeable Battery Box and indefinitely on its 110V AC power
cord. Typically, two Battery Boxes are provided with each Detector Unit. The
detector is equipped with a wand on a five-foot long hose for monitoring small
spaces. The system also can be configured to monitor ventilation lines.
System Characteristics:
Response Time:
Typically, less than 3 seconds
Inteferents:
Rejects most, 1-3% false alarm rate in shipboard
environment
EOIR Technologies, Inc. is supporting the US Army’s Night Vision and
Electronic Sensors Directorate’s (NVESD) Test and Evaluation (T&E) of the
emerging Disposable Sensors System being developed under the US Army’s
Disposable Sensors Science & Technology Research Program.
This sensor system will use a combination of infrared, acoustic, and seismic
sensors to aid US Army Special Forces operators and other ground-based combat
units in clearing and securing building interiors and perimeters as well as
other urban structures in advanced combat areas of operations such as those
found in Iraq and Afghanistan.
The first generation of the Disposable Sensors System will provide a test
platform for the US Army’s Cave and Urban Assault (CUA) Advanced Concept
Technology Demonstration, which will occur in the third quarter of 2005.
Technology Focus
Long Range Acquisition Scout
Surveillance System (LRAS) Sensor Integration
EOIR Technologies Inc. in support of the Ground Systems Division of the US
Army’s Night Vision and Electronic Sensors Directorate (NVESD) is engaged in the
third generation upgrade of a multi spectral infrared sensing platform called
the Long Range Acquisition Scout Surveillance System.
The sensor is comprised of Ultra Narrow Field of View Optics and Multi
Spectral Aided Target Detection. EOIR Technologies, Inc. is responsible for the
system integration and software design.
The EOIR Safety Evaluation Range Training System, or SERTS, 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.
SERTS transmits live audio and video from the exercise vehicle directly to a
range tower for exercise monitoring, recording, and instant post exercise
review. The SERTS system is capable of transmitting four full screen video views
from inside the crew cabin, along with crew radio and intercom communications up
to a range of 10Km.
SERTS is remotely controllable from the tower to include switching the four
camera outputs among six camera inputs. The SERTS system is universally
installable on all the M1 Abrams and all the M2 Bradley Fighting Vehicle
variants, requires minimal crew cabin space, takes less than 15 minutes to
install, and requires minimal vehicle system interface. There are two available
models of the SERTS system. SERTS is a complete system which will transmit audio
and video to the evaluator’s tower for digital recording and after action
review. SERTS-Lite is, as the name implies, a scaled down version available to
transmit audio only to the tower. This system was designed to replace jump
radio, currently used at most range training facilities.
The Safety/Evaluation Range Training System, SERTS, is
designed to support the advanced M1 and M2 vehicles. The SERTS is externally
powered and the electronics boxes are mounted external to the vehicle. The
system includes a bustle rack mounted rechargeable battery pack to power the
system for over 12 hours of cotinuous operation. SERTS, with the majority of
equipment mounted external, is ideal for the advanced M1 and M2 vehicles
such as the M1A2SEP, M2A2, M2A3 and M3A3. These vehicles have competing
space and power concerns which make external mounting and independently
powering the SERTS desirable. To support the upgraded sensor systems onboard
the advanced vehicles, the SERTS has RS-170 video input adapters to capture
video available from the Second Generation FLIRs onboard these vehicles.
SERTS transmits up to four simultaneous full screen video views. SERTS also
accepts 6 video inputs for which any 4 can be remotely selected via a radio
link controlled in the tower.
Universal Through-Sight Camera
The Universal Through-Sight Camera quickly and easily attaches to the
Commander's Extension optics in the M1 or M2 vehicle. This camera captures the
Commander's view (day or thermal) while enabling the commander to see through
his eyepiece. The camera's design ensures that the fire control symbologies are
captured on video. The Universal Through Sight's eye relief is optimized to
ensure minimal reduction to the Commander's FOV. Adapters are available for use
on the M1 gunners auxsight and M2 auxsight.
Crew Cabin Cameras
The Crew Cabin Cameras are zero lux cameras providing superior image quality
even in total darkness inside the vehicle crew cabin. Special camera brackets
ensure proper camera alignment and optimal vantage.
Audio Pickup Unit
The Audio Pickup Unit (APU) eliminates forever the need for the jump radio.
The APU sends noise free radio and intercom audio to the VTB via a wireless
transmitter unit that attaches to the back of any CVC helmet. A thin rubber and
felt padded pickup device unobtrusively tucks inside one of the ear cups of a
CVC helmet. The APU is powered by one AAA battery and will last over 14 hours of
continuous operation. There is no degradation of the sound in the CVC helmet.
AV Cable Harness
The AV Cable Harness mounts in the crew cabin and serves as the signal
interface for the A/V components of the system. It provides connections for the
two Crew Cameras and the Universal Through-Sight Camera. It houses an audio
receiver unit to send vehicle communication captured by the Audio Pickup Unit.
It also provides RS-170 connections to capture video views from Spectrum JF12
approval is pending.
Vehicle Accessory Box
The Vehicle Accessory Box conveniently and safely stores all components of
the SERTS Vehicle System. The accessory box is watertight and neatly stores all
the system cables in the lid via quick release wrapping posts.
Vehicle Transmitter Box
The Vehicle Transmitter Box (VTB) is a rugged watertight NEMA 4-rated steel
box housing the A/V transmitter, the multiplexer, power regulators, a video
switcher module and a single integral antenna. Powered by 12VDC battery power,
the VTB transmits four video views from the vehicle and sends it, along with
crew cabin radio/intercom audio, to the Tower System. The VTB includes an
integral fiberglass/spring antenna mast. It mounts to the bustle rack of the M1
and M2 via a universal mounting bracket. The VTB can operate in the L, S or C
bands and can achieve 10KM LOS range. An Army Spectrum JF12 approval is pending.
Battery Box
The Battery Box is a rugged watertight rechargeable battery box that powers
the SERTS system, thereby eliminating the need to tap into vehicle power. The
battery box mounts to the bustle rack of the M1 and M2 via a universal mounting
bracket. Optional vehicle power cable is available.
Technology Focus
SERTS
Click
here
to view more technical information on SERTS
The Head Tracker System is being developed in support of the Ground Systems
Division at the Night Vision Laboratory located at Fort Belvoir, Virginia. The
Head Tracker Sensor Suite is a prototype head tracking gimbal-based system that
allows a user to be in a tank, with a Heads Up Mounted Display to view Forward
Looking Infra 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. EOIR Technologies has developed the
software for the head-tracking portion of the system and has also performed
testing and vehicle integration.
The system is an important improvement for the protection of our tank combat
forces involved in forward area urban warfare environments.
EOIR Technologies Inc. has performed numerous aerial surveillance programs to
detect and classify chemical gas plumes utilizing hyperspectral optical sensors.
These programs were part of a Small Business Innovative Research, or SBIR, award
with the US Army to identify and recognize chemicals using Fourier transform
infrared (FTIR) remotely. EOIR has demonstrated the capability of detecting a
concentration of chemicals or gases by designing robust algorithms and enabling
the remote optical sensor to evaluate chemical facilities and also to
characterize disaster sites at a distance.
In the process of detecting chemicals at long-range there are a number of
obstacles to accurate results, including a lack of contrast between the target
of interest and its background. It is for this reason the sensor must be able to
adapt to each situation. It must be able to eliminate any information that will
taint the results and focus on the valuable data. The algorithms developed to
date have given the technology the flexibility it needs to adapt.
EOIR Technologies has over ten years of experience with FTIR spectrometers,
their characterization, processing and application to chemical remote sensing.
EOIR provided the technical understanding of the data, sensors, collection,
processing and exploitation that culminated in an optimum analysis technique to
exploit the FTIR data. Events like the disaster at the World Trade Center and
the train crash in Baltimore are evidence of the need for remote detection and
identification of known chemicals. This effort will provide the Army with a
powerful new remote sensing capability.
Technology Focus
World Trade Center site survey
Aerial surveillance utilizing hyperspectral optical sensors revealed toxic
chemical gas plumes at the World Trade Center disaster site. Green boxes
indicate where chemical gases are escaping and could be identified, and the
obvious threat to rescue workers and people who live and work in the area.
EOIR, a wholly owned subsidiary of Technest Holdings, has developed a number
of computer-based (CBT) and web-based trainers (WBT) in support of DoD
activities, especially in the areas of New Equipment Training (NET) initiatives.
Technest Holdings employs Training Specialists, Curriculum Developers,
Multimedia Programmers and Graphic Artists to develop course content, program
interface and design, functional program performance and verification/validation
of course content with the technical documentation and .NET instructors.
Examples of recent training applications EOIR has developed include:
Thermal Weapon System (TWS) for the US Army PEO Soldier
Long Range Advanced Scout Surveillance System (LRAS3) for the US Army PM
FLIR
LRAS3 Maintenance and Troubleshooting for PM FLIR
ASDS Electronic Users Guide for NSWCDD Code N81
EOIR training packages are characterized by a highly interactive,
multimedia-rich environment that provides for instruction through a variety
of learning modes. The training packages can be designed to include learning
management systems (LMS) by which an instructor may monitor student progress
through the course. The CBT and WBT applications allow for student-paced
instruction that is consistent, repeatable, and available at essentially any
time.
EOIR has also developed and delivered traditional instructor-led training
courses, most notably the Measurement and Signatures Intelligence (MASINT)
courses in support of the US Army Intelligence and Security Command (INSCOM).
EOIR was a large contributor to the development of the initial courses for
MASINT collections and analysis, and also was a key member of the team that
transitioned the curriculum to the current US Army Additional Skills
Indicator (ASI) certification course.
Technology Focus
Public Affairs and Multimedia Support
EOIR has supported a number of customers with the development of promotional
videos and other materials. Most of this work has arisen from the technical
support we are providing to these customers, allowing us to have a solid
understanding of the mission of the project/program and the goal(s) of the
promotional materials. Typically the videos are used for demonstrations at
conferences and expos, or as an introduction when the program is being briefed
to senior military officers. EOIR utilizes many of the same personnel and
equipment that is used for the CBT and WBT development – including an impressive
inventory of video cameras, digital cameras, video editing software and
sound/voice recording and editing equipment. Example of projects EOIR has
developed promotional material for include:
Multi-Function Staring Sensor Suite (MFS3) for NVESD
C4ISR On The Move Testbed for NVESD
Networked Sensors for the Combat Force for NVESD
Mine Detection False Alarm Reduction Science and Technology Objective for
NVESD
EOIR has Graphic Artists and Programmers skilled with multimedia packages
such as Macromedia Flash, Macromedia Director, Adobe Premier, Adobe Photoshop
and Lightwave Studio 3D. These skills, combined with their creativity and
understanding of the purpose of the promotional materials, results in
high-quality products our customers find very helpful in their marketing
endeavors.
Technest Holdings Inc. and its operating subsidiaries EOIR Technologies Inc. and
Genex Technologies Inc. endeavors to provide a world class integrated portfolio
of solutions for the Homeland Security, DOD and INTEL marketplaces. The company
offers its customers the following highly differentiated products and services;
remote sensing technology products and services, complete solutions for
three-dimensional video and thermal imaging and display, intelligent
surveillance, and three-dimensional facial recognition to the United States
Department of Defense ("DOD") and various other United States Intelligence
Agencies ("INTEL"), educational, medical institutions and private commercial
entities.
FINANCIAL SUMMARY
Revenues for the quarter ended 9/30/05 were $18,996,341 which represents an
increase of 22.5% over revenues for the corresponding period in 2004 of
$15,507,314. The operating loss for the period amounted to $136,460 compared to
$403,922 for the prior year. This loss was affected by non-cash charges for the
compensatory element of stock issuances and amortization of intangible assets.
These non-cash charges amounted to $537,208. The net loss attributable to common
shareholders for the period ended September 30, 2005 was $775,525 or a loss of
$0.05 per share compared to a loss of $650,673 or a loss of $0.05 per share in
the corresponding period in 2004. This increase in net loss is primarily due to
an increase in interest payments of $417,730 from the corresponding period in
2004. Total interest payments for the quarter ended September 30, 2005 amounted
to $669,647. Of that amount $530,000 was incurred as non cash interest expense
related to failure to promptly file a registration statement. During the period,
the weighted average number of shares outstanding increased to 14,302,721 from
12,132,157 for the prior year period.
Please note that in order to provide comparative information, the financial
information for 2004 was restated to include the results of EOIR Technologies,
Inc., Technest's wholly -owned subsidiary that it acquired from Markland
Technologies, Inc. on August 17, 2005.
Dec. 2, 2005
U.S. Army's Night Vision and Electronic Sensors Directorate Awards EOIR
Technologies Inc. $3.4 Million in New Contracts
Technest Holdings defense and homeland security company transforming advanced
laboratory technology into real-world products, announced that the U.S. Army's
Night Vision and Electronic Sensors Directorate (NVESD) has awarded subsidiary
EOIR Technologies Inc. (www.eoir.com) new orders for technology products and
services totaling $3.4 million.
Nov 8, 2005
Technest Holdings Inc. Awarded SBIR Contract by US Navy
Technest Holdings announced that its wholly owned subsidiary Genex Technologies
Inc. (www.genextech.com) has been awarded a Small Business Innovation Research (SBIR)
contract by the US Navy. The contract is to develop a compact pan/tilt/zoom
optical sensor that will result in providing Unmanned Combat Aerial Vehicles (UCAV)
significantly improved optical sensing capabilities.
Sept 29, 2005
U.S. Army's Night Vision and Electronic Sensors Directorate Awards EOIR
Technologies Inc. $9.3
Million in New Contracts
Technest Holdings, Inc. announced that the U.S. Army's Night Vision and
Electronic Sensors Directorate (NVESD) awarded subsidiary EOIR Technologies Inc.
(www.eoir.com) new orders for technology products and services totaling $9.3
million.
The $9.3 million in new orders come under an NVESD omnibus contract. The omnibus
contract Option Year Four was awarded on July 15, 2005. Since that date EOIR
Technologies Inc. omnibus contract awards have totaled $25.6 million. As of
August 31, 2005 EOIR Technologies Inc. had funded backlog of $50.6M.
The above mentioned Press Releases Headlines contain excerpts from the actual
press release.
CURRENT ASSETS
Cash and cash equivalents 3,327,119
Accounts receivable
7,888,075
Inventory and work in progress
286,450
Restricted Cash
251,204
Prepaid expenses & other current assets 161,090
TOTAL CURRENT ASSETS
$11,913,938
PROPERTY AND EQUIPMENT –
Net of accumulated depreciation of 382,613 $831,250
OTHER
ASSETS
Definite-lived intangible
assets –
Net of accumulated amortization of 2,140,249 12,897,806
Goodwill
14,035,551
$26,933,357
$39,678,545
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts Payable
9,634,564
Accrued expenses and other current liabilities 2,254,238
Due to related parties
1,142,347
Current portion of long-term debt
2,322,193
TOTAL CURRENT LIABILITIES
$15,353,342
NON
CURRENT LIABILITES
Long-term debt, less current
portion and
discount of $1,100,967
$5,484,435
$20,837,777
TOTAL STOCKHOLDERS’
EQUITY
$18,840,768
TOTAL LIABILITIES AND
STOCKHOLDERS EQUITY
$39,678,545
