X0303 4 2008-12-17 0 0001077800 TECHNEST HOLDINGS INC TCNH 0001368049 HICKS STEPHEN M 10411 MOTOR CITY DRIVE, SUITE 650 BETHESDA MD 20817 1 0 0 0 Common Stock 2008-12-17 4 A 0 22619 0.07 A 20995562 I See footnotes. 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. Reporting Person is the control person of Southridge Advisors, LLC ("Southridge"), 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, ("Southshore"), Aberdeen Avenue LLC, a Cayman Island limited liability company ("Aberdeen"), and Garth LLC, a Cayman Island limited liability company ("Garth"). 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) (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. /s/ Stephen Hicks 2008-12-22