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TECHNEST, INC.
12 Months Ended
Jun. 30, 2012
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Disclosure [Text Block]

5.  TECHNEST, INC.

 

The Company owns a 49% interest in Technest, Inc., a company that conducts research and development in the field of computer vision technology. The Company has the right of first refusal to commercialize products resulting from this research and development.  The Company’s former Chief Executive Officer beneficially owns 23% of Technest, Inc., a current employee of Technest owns 23% and an unrelated third party owns 5%.  The Company has certain rights of first refusal and repurchase rights at fair market value, as defined in certain restricted stock agreements, with respect to the shares of Technest, Inc. that it does not own.  Technest, Inc. is considered a variable interest entity (VIE) for which the Company is the primary beneficiary.