| 1. | I      have reviewed this annual report on Form 10-KSB of Technest Holdings,      Inc.; |
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| 2. | Based      on my knowledge, this report does not contain any untrue statement of a      material fact or omit to state a material fact necessary to make the      statements made, in light of the circumstances under which such statements      were made, not misleading with respect to the period covered by this      report; |
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| 3. | Based      on my knowledge, the financial statements, and other financial information      included in this report, fairly present in all material respects the      financial condition, results of operations and cash flows of the small      business issuer as of, and for, the periods presented in this      report; |
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| 4. | The      small business issuer’s other certifying officer(s) and I are responsible      for establishing and maintaining disclosure controls and procedures (as      defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal      control over financial reporting (as defined in Exchange Act Rules      13a-15(f) and 15d-15(f)) for the small business issuer and      have: |
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|   | (a)      Designed such disclosure controls and procedures, or caused such      disclosure controls and procedures to be designed under our supervision,      to ensure that material information relating to the small business issuer,      including its consolidated subsidiaries, is made known to us by others      within those entities, particularly during the period in which this report      is being prepared; |
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|   | (b)      Designed such internal control over financial reporting, or caused such      internal control over financial reporting to be designed under our      supervision, to provide reasonable assurance regarding the reliability of      financial reporting and the preparation of financial statements for      external purposes in accordance with generally accepted accounting      principles; |
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|   | (c)      Evaluated the effectiveness of the small business issuer’s disclosure      controls and procedures and presented in this report our conclusions about      the effectiveness of the disclosure controls and procedures, as of the end      of the period covered by this report based on such evaluation;      and |
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|   | (d)      Disclosed in this report any change in the small business issuer's      internal control over financial reporting that occurred during the small      business issuer's fourth fiscal quarter that has materially affected, or      is reasonably likely to materially affect, the small business issuer's      internal control over financial reporting;and |
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| 5. | The      small business issuer’s other certifying officer(s) and I have disclosed,      based on our most recent evaluation of internal control over financial      reporting, to the small business issuer’s auditors and to the audit      committee of the small business issuer’s board of directors (or persons      performing the equivalentfunctions): |
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|   | (a)      All significant deficiencies and material weaknesses in the design or      operation of internal control over financial reporting which are      reasonably likely to adversely affect the small business issuer’s ability      to record, process, summarize and report financial information;      and |
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|   | (b)      Any fraud, whether or not material, that involves management or other      employees who have a significant role in the small business issuer's      internal control over financialreporting. |
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| Date:      October 2, 2008 | /s/ Nitin V.      Kotak      |
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|                       | Nitin      V. Kotak          |
|                       | Chief      Financial Officer |