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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001144204-08-070521.txt : 20081222
<SEC-HEADER>0001144204-08-070521.hdr.sgml : 20081222
<ACCEPTANCE-DATETIME>20081222124545
ACCESSION NUMBER:		0001144204-08-070521
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081217
FILED AS OF DATE:		20081222
DATE AS OF CHANGE:		20081222

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HICKS STEPHEN M
		CENTRAL INDEX KEY:			0001368049

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27023
		FILM NUMBER:		081263180

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		203 431 8300

	MAIL ADDRESS:	
		STREET 1:		90 GROVE STREET
		STREET 2:		SUITE 204
		CITY:			RIDGEFIELD
		STATE:			CT
		ZIP:			06877

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TECHNEST HOLDINGS INC
		CENTRAL INDEX KEY:			0001077800
		STANDARD INDUSTRIAL CLASSIFICATION:	MEASURING & CONTROLLING DEVICES, NEC [3829]
		IRS NUMBER:				880357272
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		10411 MOTOR CITY DRIVE, #650
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20817
		BUSINESS PHONE:		301-767-2810

	MAIL ADDRESS:	
		STREET 1:		10411 MOTOR CITY DRIVE, #650
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20817

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FINANCIAL INTRANET INC/NY
		DATE OF NAME CHANGE:	19990128
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v135446_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-12-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001077800</issuerCik>
        <issuerName>TECHNEST HOLDINGS INC</issuerName>
        <issuerTradingSymbol>TCNH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001368049</rptOwnerCik>
            <rptOwnerName>HICKS STEPHEN M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10411 MOTOR CITY DRIVE, SUITE 650</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BETHESDA</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>20817</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-12-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>22619</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.07</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                    <footnoteId id="F1"/>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20995562</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes.</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Common Stock was purchased by Trillium Partners LP.  Reporting Person is the control person of Trillium Partners LP, and is
 a director of the Issuer.  Trillium is the beneficial owner of an aggregate of 447,619 shares of Issuer's Common Stock.</footnote>
        <footnote id="F2">Reporting Person is the control person of Southridge Advisors, LLC (&quot;Southridge&quot;), which acts as the general partner to
 Southridge Partners L.P, and acts as the investment advisor or sub-advisor to each of Southshore Capital Fund Ltd., a Cayman
 Island corporation, (&quot;Southshore&quot;), Aberdeen Avenue LLC, a Cayman Island limited liability company (&quot;Aberdeen&quot;), and Garth
 LLC, a Cayman Island limited liability company (&quot;Garth&quot;).

Southridge Partners is the beneficial owner of an aggregate of 17,354,857 shares of Issuer's Common Stock, which number
 includes 10,510,030 shares of Common Stock, 344,827 shares of the Issuer's Series C Preferred Stock, which is convertible,
 subject to certain restrictions, into 344,827 shares of the Issuer's Common Stock, and 1,300  shares of the Issuer's Series
 D Preferred Stock, which is convertible, subject to certain restrictions, into 6,500,000 shares of the Issuer's Common
 Stock. (continued to footnote 3)</footnote>
        <footnote id="F3">(continued from footnote 2) Southshore is the beneficial owner of an aggregate of 1,072,257 shares of Issuer's Common Stock,
 which number includes 977,741 shares of Common Stock, 57,467 shares of the Issuer's Series C Preferred Stock, convertible
 into 57,467 shares of the Issuer's Common Stock, and 111.81 shares of Series G Preferred Stock issued by Markland
 Technologies Inc., convertible subject to certain restrictions into an additional 37,049 shares of the Issuer's Common
 Stock.  Aberdeen is the beneficial owner of an aggregate of 1,814,782 shares of Issuer's Common Stock, which number includes
 1,416,101 shares of Common Stock, 1,203.18 shares of Series G Preferred Stock issued by Markland Technologies Inc.,
 convertible subject to certain restrictions into an additional 398,681 shares of the Issuer's Common Stock.  Garth is the
 beneficial owner of 64.631 shares of the Issuer's Series A Preferred Stock convertible in 306,047 shares of the Issuer's
 Common Stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Stephen Hicks</signatureName>
        <signatureDate>2008-12-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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