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[QUOTE]Originally posted by judge1234: [QB] ALERT >MRKL> Will hit $2.99 soon, Read This >return as much of this value as we can to Markland common shareholders over time.” Robert Tarini, Markland Chairman and CEO stated, "Due to Markland’s current equity structure, we believe that the company’s stock is undervalued. After giving effect to the reorganization, Markland's ownership of Technest on a primary basis increased from 85% to approximately 98% and on a fully diluted basis (assuming the conversion of all of Technest's fixed price convertible securities and the exercise of all warrants to purchase Technest common stock) increased from 39% to approximately 82%. Markland’s total holdings of Technest common stock will increase to approximately 14 million shares. In connection with the reorganization, Markland has declared a stock dividend of $10 million worth of shares of Technest common stock that it currently owns, up to a maximum of 2.5 million shares of Technest common stock. The record date for the stock dividend is May 1, 2006 and the distribution date for the stock dividend is July 5, 2006. >The actual number of shares of Technest common stock to be distributed will be calculated based on a per share price equal to the average closing price of the Technest Stock as reported by the National Association of Securities Dealers Automatic Quotations service for the ten trading days ending June 30, 2006. < However in no event shall the number of shares of the Technest common stock distributed exceed 2.5 million nor will Markland deliver fractional shares of the Technest common stock. >Robert Tarini, Markland Chairman and CEO stated, "Due to Markland’s current equity structure, we believe that the company’s stock is undervalued. < We have undertaken this reorganization and the $10 million Technest stock dividend in an effort to allow the market and our stockholders to capture what we believe to be the company’s real market value. >We have worked very hard to try to re-negotiate with the holders of our convertible notes and Series D preferred securities to institute conversion floor prices and other changes which would be beneficial to Markland common stock shareholders. < Management efforts in this regard will continue. >Management will also be contemplating >future additional distributions of Technest Holdings Inc. stock to Markland common shareholders. < We presently have approximately 14M shares of Technest Holdings Inc common stock which as of yesterday’s market close was priced at $14 per share. This is a market capitalization figure which we believe much more accurately reflects the true value of this corporate enterprise and it is management’s intention to return as much of this value as we can to Markland common shareholders over time.” Technest will file a registration statement registering these shares prior to the distribution date. This is not an offer to sell these shares, and these shares may not be offered or sold in any state or jurisdiction in which such offer or sale would be unlawful prior to the registration or qualification of such shares under the laws of such state or jurisdiction. http://www.*****************/Companies/ViewDocument.asp?ID=3304 [/QB][/QUOTE]
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