PROVIDENCE, R.I., March 29, 2006 (PRIMEZONE) -- Markland Technologies, Inc. (Pink Sheets:MRKL), a company transforming advanced laboratory technology into real-world products, announced today the signing of an extensive product and intellectual property licensing agreement between itself and Technest Holdings Inc.
This agreement provides Markland with exclusive licensing, manufacturing and distribution rights which encompass at the time of signing approximately 12 products and 20 patents with applications in the areas of intelligent surveillance, 3D imaging, and medical products and services and is subject to the achievement of specified minimum royalty payments. Markland intends to pursue specific opportunities for these products and intellectual property within defined commercial market places to develop revenue streams.
The rights for these products and intellectual property are limited to specific markets which exclude products to be sold to or for use by, and services to be provided to, the United States Department of Defense and comparable defense ministries of other countries, the United States Department of Homeland Security and any successor agencies performing comparable functions, the U.S. Department of Energy, the U.S. Department of Justice, the U.S. Department of State, and the U.S. intelligence agencies and comparable intelligence departments of other countries.
The products covered by this agreement are as follows:
-- ACADA Point Chemical Detector -- AACES Remote Standoff Chemical Detector -- STUDS Perimeter Defense Sensor -- WellCam Omni Video Surveillance and Rescue Sensor -- Cerberus Omni Video Surveillance Sensor -- SureMatch 3D Suite Facial Recognition Software -- 3D Sketch Artist Software -- HELIOS Laser Deterrent -- IntraOral Medical Imaging Device -- FaceCam 3D Camera -- RainBow 3D Medical Imaging Software -- NoseCam 3D Camera
Some of the commercial security markets which the Company intends to pursue with these products include: high value corporate and private facilities, large public venues such as hotels, casinos, and stadiums, and privately owned chemical facilities.
Some of the medical markets which the Company intends to pursue as an OEM supplier include dentistry and diagnostic imaging.
For more details on the Licensing Agreement please visit SEC web link http://www.sec.gov/Archives/edgar/data/1077800/000132446806000016/mrkltcnhlicenseagmt31306.htm
About Markland Technologies
Markland Technologies, Inc. is engaged in the identification of advanced technologies currently under development in laboratories, universities and in private industry, and in the transformation of those technologies into next-generation products. Markland's solutions support military, law enforcement and homeland security personnel to protect the nation's citizens, borders and critical infrastructure assets from the threat of terrorism and other dangers. Through strategic development, Markland 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. The Company is a Board Member of the Homeland Security Industries Association. For more information about the company and its products, please visit the Markland home page at http://www.marklandtech.com.
More information on Homeland Security issues, including news releases,events and experts available for comment, can be found on the HomelandSecurity Newsline at www.primezone.com/hs
"Forward-Looking Statements"
Investors are cautioned that certain statements contained in this press release as well as some statements in periodic press releases and some oral statements of Markland Technologies officers and directors during presentations about Markland Technologies, 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 financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, 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: a reduction in order rates from the Army's Night Vision and Electronic Surveillance Directorate, insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Markland Technologies, its products, economic and market factors and the industries in which Markland Technologies does business, among other things. These statements are not guarantees of future performance and Markland Technologies has no specific intention to update these statements. More detailed information about those factors is contained in Markland Technologies filings with the Securities and Exchange Commission. http://www.sec.gov.