CybeRelease: (OTC: TCNH) Announces New $3.2 Million Contract
(CybeRelease, March 7, 2006) - Lake Harmony, PA - Technest Holdings, Inc. (OTC BB: TCNH), a defense and homeland security company transforming advanced laboratory technology into real-world products, recently announced that its 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 totaling $3.2M.
EOIR Technologies’ ongoing NVESD Omnibus contract may provide 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 $34.7M. For more information, go to http://www.cyberelease.com/tcnh3706.htm.
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