SOURCE: Wall Street News Alert

February 21, 2006 09:09 ET

Wall Street News Alert: Hot Stock Alert Issued on TCNH! February 21, 2006

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- February 21, 2006 -- Wall Street News Alert's "stocks to watch" this morning are: Technest Holdings, Inc. (OTC BB: TCNH), Sun Microsystems, Inc. (NASDAQ: SUNW), EMC Corporation (NYSE: EMC), and Micron Technology, Inc. (NYSE: MU).

Once Again, Technest Holdings, Inc. (OTC BB: TCNH) should be catching the attention of investors and today. Earlier today, the company, a defense and homeland security company transforming advanced laboratory technology into real-world products, issued a press release announcing its fiscal second quarter results ended December 31, 2005.

This news should excite investors, as it is impressive! Revenue for the six months ended December 31, 2005 was $37,285,917. Revenue for the same period in 2004 is not comparable as Technest Holdings Inc had no operations. Revenue for the three months ended December 31, 2005 was $18,289,576.

The operating loss for the six months ended December 31, 2005 was $284,011. The operating loss for the same period in 2004 was $99,031. The operating loss for the three months ended December 31, 2005 was $220,943. The operating loss for the same period in 2004 was $7,499. The operating loss for the six month period ended December 31, 2005 included non-cash charges for depreciation and amortization of intangible assets of $1,072,615.

Wall Street News Alert is continuing to place aggressive investors on high alert to continue watching this company! According to the company, the net loss attributable to common shareholders for the six month period ended December 31, 2005 was $1,796,653 or a loss of $0.12 per share compared to a net loss of $106,721 or $0.79 per share for the corresponding period in 2004.

Investors watch Technest Holdings very closely! The net loss attributable to common shareholders for the six month period ended December 31, 2005 was affected by interest payments. Total interest payments for the six months ended December 31, 2005 was $1,595,820. Of that amount $1,150,000 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 14,719,365 from 135,495 for the prior year period.

The company has recently formed an Independent Board of Directors, and considers it a key piece of the company's corporate strategy; to seek a NASDAQ listing for the company in the first quarter of 2006.

Earlier this month, the company announced that it's wholly owned subsidiary EOIR Technologies Inc. has received a new contract and incremental funding from the U.S. Army's Night Vision and Electronic Sensors Directorate (NVESD) for remote sensor technology products and engineering services totalling $4.1M.

As of December 31, 2005 Technest Holdings Inc. had a funded backlog of $51.4M

The stock closed yesterday at $10.00 a share.

To view a detailed, in-depth profile of Technest Holdings visit

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In case you are not familiar with the company: Technest Holdings, Inc. 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. The company'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.

Stocks showing interesting activity yesterday at the close of the regular trading day were: Sun Microsystems, Inc. (NASDAQ: SUNW) down 1.6% on 49 million shares traded, EMC Corporation (NYSE: EMC) up 0.3% on 29 million shares traded, and Micron Technology, Inc. (NYSE: MU) down 2% on 8.2 million shares traded.


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