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I am really interested in learing more about the following NASDAQ application. If anyone finds anything else about this, I'd appreciate it if you would post that information here. If the application is successful (and I admit that I'm just new at this) but I think MRKLE would take off.
BOSTON, Mar 16, 2006 (PRIMEZONE via COMTEX) -- Technest Holdings, Inc. www.technestholdings.com (TCNH), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that it has submitted an application for listing of its shares of common stock on the NASDAQ Capital Market.
Company management with co-operation from its majority shareholder, Markland Technologies Inc. (MRKLE), has restructured its corporate governance and has appointed three members to its Board of Directors, all of whom meet the "independent" and corporate governance requirements of NASDAQ. Effective on March 15, 2006, newly appointed board members: Major General (Ret) David R. Gust, Robert Doto and Darlene Deptula Hicks have formed the requisite independent audit, compensation, and nominating and corporate governance committees.
Also as part of the corporate governance restructuring, Robert Tarini has resigned his positions of CEO and director of Technest Holdings Inc. He will remain as CEO and Director of Technest's majority shareholder, Markland Technologies, Inc. Dr. Joe Mackin has been appointed the new CEO of Technest Holdings and will remain a director of Technest Holdings along with the CFO, Gino Pereira. Dr. Mackin has resigned as a director and President of Markland Technologies.
Robert Tarini stated, "It has been my pleasure to work with the talented management team here at Technest to help form the new operating and equity structure, and I am quite pleased Dr Joe Mackin has accepted the position of CEO. These structural changes allow Technest to proceed to grow its business and future as a public entity. Dr Mackin and Gino Pereira will do a fabulous job as CEO and CFO, respectively. The newly appointed independent board of directors will come to the job with a wealth of industry and public company experience."
"A NASDAQ listing of our common stock would represent an important milestone for our company," said Dr Joe Mackin, newly appointed CEO of Technest Holdings. "By moving to the NASDAQ, we hope to provide greater transparency and liquidity for our shareholders and to elevate our company's visibility and standing in the financial community."
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PR to have direct effect on MARKLAND TECHNOLOGIES (OTC:BB: MRKLE)
Technest Holdings Inc. Announces $1.35M Funding by U.S. Army's Night Vision and Electronic Sensors Directorate 3/17/2006
BOSTON, Mar 17, 2006 (PRIMEZONE via COMTEX) -- 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 its wholly owned subsidiary, EOIR Technologies Inc., has received incremental funding from the U.S. Army's Night Vision and Electronic Sensors Directorate (NVESD) for remote sensor technology products and engineering services totaling $1.35M.
EOIR Technologies' ongoing NVESD omnibus contract provides a maximum ceiling amount of up to $80 million in fiscal year revenues. The omnibus contract Option Year Four was awarded on July 15, 2005. Since that date, EOIR Technologies Inc.'s omnibus contract awards total $36.1M.
Many of the products and services being delivered on this contract utilize next-generation electro-optic and infrared sensor technologies that are being used in direct support of U.S. military combat operations. The Army's NVESD has been responsible for numerous key innovations in the fields of optical electronics and thermal imaging for weapons targeting, electronic surveillance and other mission-critical military applications. EOIR Technologies Inc. is working on a range of next generation technology solutions for the NVESD, including night vision and advanced sensor applications, test support, and threat detection systems.
EOIR Technologies, Inc. has been providing innovative sensor engineering products and services to customers within the Department of Defense for nearly 25 years.
Technest Holdings had a funded backlog as of January 31, 2006 of $51.3M.
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.
More information on Homeland Security issues, including news releases, events and experts available for comment, can be found on the Homeland Security Newsline at www.primezone.com/hs
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