Replies to post #42073 on Sulja Bros. Building Supplies, Ltd (SLJB)

[JJSeabrook]

$4.00 to go on NASD. Here's a company that withdrew their NASD application because they didn't meet it and went on the AMEX. Just an example of a company that could have listed with NASD had they maintained a $4.00 bid for the 10 days before listing on NASD.

JJ

Technest Holdings Applies for American Stock Exchange Listing; Withdraws Nasdaq Application
BOSTON, June 23, 2006 (PRIMEZONE) -- Technest Holdings, Inc. (OTCBB:TCNH), a defense and homeland security company, today announced that on May 11, 2006, Technest applied for listing of its shares of common stock on the American Stock Exchange.


Technest also announced it has withdrawn its application for listing of its shares of common stock on the NASDAQ Capital Market. The application was submitted on March 16, 2006. The closing bid price of the Company's common stock has been below the minimum bid price of $4.00 per share, as required by Nasdaq for listing, for more than ten trading days. The company noted that today's action would not preclude it from reapplying to NASDAQ, if its common stock met the quantitative requirements for listing.

About Technest Holdings, Inc.

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. 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. For more information, please visit the company's website at http://www.technestholdings.com/.

Investors are cautioned that certain statements contained in this press release are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar expressions. In addition, any statements concerning future listing possibilities of the company's equity securities are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: the performance of the company's common stock, the company's ability to satisfy certain qualitative and quantitative requirements of NASDAQ and AMEX. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Technest Holdings, its products, economic and market factors and the industries in which Technest Holdings does business, among other things. These statements are not guarantees of future performance and Technest Holdings has no specific intention to update these statements. More detailed information about those factors is contained in Technest Holdings' filings with the Securities and Exchange Commission. http://www.sec.gov/

Technest Holdings, Inc. is a featured Company on http://www.HomelandDefenseStocks.com, a service for which Technest Holdings compensates the provider.

CONTACT: KCSA Worldwide
Todd Fromer
[phone]
[e-mail]
Michael Cimini
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[eelfland]

I am well aware of the requirements to get on NASDAQ. I would have replied privately, but I'm too cheap. There are a good many requirements other than the share price. However, what got us going in the first place was the question whether we could have to reverse split our shares. We could meet the financial and share structure requirements by splitting 1 for 4 at about a dollar and a quarter, more or less, and still have enough shares in the float to qualify. Anyway, it's not a big deal at this point, as it will take at least until next week for this stock to go to five bucks a share.