CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2011	Jun. 30, 2011
ASSETS
Cash and cash equivalents ($5,779 and $23,184)	$ 37,188	$ 50,598
Accounts receivable, net of allowances of $11,000 and $9,000 at September 30, 2011 and June 30, 2011, respectively ($46,534 and $155,376)	83,536	219,494
Prepaid expenses and other current assets ($- and $16,053)	26,822	28,337
Assets related to discontinued operations	5,000,000	5,000,000
Total Current Assets	5,147,546	5,298,429
Property and Equipment - Net of accumulated depreciation of $1,559 and $1,249 at September 30, 2011 and June 30, 2011, respectively	32,139	22,299
Other Assets
Deposits	46,525	46,525
Deferred financing costs	36,000	36,000
Customer contracts, less accumulated amortization of $102,082 and $58,332 at September 30, 2011 and June 30, 2011, respectively	247,918	291,668
Total Other Assets	330,443	374,193
Total Assets	5,510,128	5,694,921
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable ($224,636 and $185,644)	1,238,623	1,094,666
Accrued expenses and other current liabilities ($35,652 and $65,958)	208,984	185,758
Accrued compensation	65,000	45,000
Accrued income taxes	369,816	369,816
Notes payable	40,300	46,250
Contingent value rights payable	3,242,405	3,194,247
Liabilities related to discontinued operations	1,045,374	1,045,374
Total Current Liabilities	6,210,502	5,981,111
Total Liabilities	6,210,502	5,981,111
Commitments and Contingencies
Stockholders' Deficit
Preferred stock - Series E 5% Convertible; stated value $1,000 per share; 300 shares issued and outstanding at September 30, 2011 and June 30, 2011 (preference in liquidation at September 30, 2011 and June 30, 2011 of $307,344 and $303,511, respectively)	300,000	300,000
Common stock - par value $.001 per share; 495,000,000 shares authorized; 120,279,296 shares issued and outstanding at September 30, 2011 and June 30, 2011, respectively	120,279	120,279
Additional paid-in capital	3,085,266	2,917,952
Accumulated deficit	(3,997,532)	(3,437,130)
Total stockholders' deficit of Technest Holdings, Inc.	(491,987)	(98,899)
Non-controlling interest	(208,387)	(187,291)
Total Stockholders' Deficit	(700,374)	(286,190)
Total Liabilities and Stockholders' Deficit	$ 5,510,128	$ 5,694,921