BETHESDA, Md., Feb. 4, 2011 /PRNewswire/ -- In connection with the distribution of the contingent value rights by Technest Holdings, Inc. (OTC Bulletin Board: TCNH) as previously announced on January 14, 2011, Financial Industry Regulatory Authority, Inc. ("FINRA") on February 2, 2011 determined that it will not be declaring an ex-dividend date with respect to that distribution and therefore, the stockholders of record of Technest Holdings as of January 25, 2011 are entitled to receive one contingent value right for each share of Technest Common Stock held as of such date. For more information on the contingent value rights, please refer to our press release dated January 14, 2011 and our current report on Form 8-K filed on January 14, 2011 with the Securities and Exchange Commission.
About Technest Holdings, Inc.
Technest, based in Bethesda, Maryland, is in the business of designing, researching, developing, integrating, selling and supporting three-dimensional imaging devices and systems and intelligent surveillance devices and systems, and three-dimensional facial recognition in the healthcare and security industries. Historically, Technest's largest customers have been the National Institutes of Health and the Department of Defense. For more information, please visit Technest's website at http://www.technestinc.com.
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SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains certain "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "estimate(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)", "intend(s)" and similar expressions are intended to identify such forward-looking statements. These statements include, but are not limited to, statements about the receipt of the payment under the Settlement Agreement, the final amount of the payment to the holders of the Contingent Value Rights and all other statements regarding future performance. All such information and statements are subject to certain risks and uncertainties, the effects of which are difficult to predict and generally beyond the control of Technest, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements contained in this press release. These risks and uncertainties include, but are not limited to, whether the conditions triggering the payment to Technest under the Settlement Agreement will be achieved, the amount of expenses that will be deducted from, and reduce the amount of, payments to holders of Contingent Value Rights; general economic conditions; and those risks identified and discussed by Technest in its filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward looking statements that speak only as of the date hereof. Technest does not undertake any obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in Technest's SEC periodic and interim reports, including but not limited to its Annual Report on Form 10-K for the fiscal year ended June 30, 2010, Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2010, and Current Reports on Form 8-K filed from time to time by Technest. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
SOURCE Technest Holdings, Inc.