Document:

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                                                                    EXHIBIT 10.1
                          SECURITIES PURCHASE AGREEMENT

         THIS SECURITIES PURCHASE AGREEMENT (the "AGREEMENT") is made this 8th
day of February, 2005, by and between Technest Holdings, Inc. (the "COMPANY"), a
Nevada corporation, and Verdi Consulting (the "PURCHASER").

         WHEREAS, the Purchaser wishes to purchase from the Company, and the
Company wishes to sell to the Purchaser, 25 shares of Series A Preferred Stock,
substantially in the form of EXHIBIT A attached hereto, convertible into shares
of Common Stock (the "CONVERSION SHARES") at par value;

         NOW, THEREFORE, in consideration of the mutual covenants contained in
this Agreement, the parties agree as follows:

         SECTION 1  SALE OF SECURITIES.

         1.1. AUTHORIZATION OF SALE OF THE SECURITIES. Subject to the terms and
conditions of this Agreement, the Company has authorized the sale and issuance
to the Purchaser of twenty five (25) shares of Series A Preferred Stock (the
"SECURITIES").

         1.2. AGREEMENT TO SELL AND PURCHASE THE SECURITIES. At the Closing, the
Company will issue and sell to the Purchaser and the Purchaser will buy from the
Company the Securities upon the terms and conditions hereinafter set forth.
Subject to and in reliance upon all of the representations, warranties,
covenants, terms and conditions of this Agreement, any such closing hereunder
shall take place at such location, date and time as many be agreed upon between
the Purchaser and the Company.

         1.3. CLOSING. At the closing of the sale and purchase of the Securities
(the "CLOSING"), the Company shall issue and sell, and the Purchaser shall
purchase, the Securities with a liquidation value of $25,000,against payment by
the Purchaser of $25,000 in cash.

         1.4. [INTENTIONALLY OMITTED]

         SECTION 2. REGISTRATION RIGHTS.

         2.1. REQUEST FOR REGISTRATION. If the Company proposes to register any
of its securities under the Securities Act of 1933, as amended ("ACT") (except
for registrations on Forms S-8 or S-4 or their equivalent), it will give written
notice by registered mail, at least twenty (20) days prior to the filing of each
such registration statement, to the Purchaser of its intention to do so. If the
Purchaser notifies the Company within ten (10) days after receipt of any such
notice of its desire to include any of the Conversion Shares (together, the
"UNDERLYING SHARES"), the Company shall afford the Purchaser the opportunity to
have any such Underlying Shares registered under such registration statement at
the Company's sole cost and expense.

         2.2. LIMITATIONS ON REGISTRATION.

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                  (a) TERMINATION OF REGISTRATION RIGHTS. These rights may be
exercised at any time on an unlimited number of occasions after the date hereof
until such time when all Underlying Shares may be sold without volume
restrictions pursuant to Rule 144(k) as determined by the counsel to the Company
pursuant to a written opinion letter to such effect, addressed and acceptable to
the Company's transfer agent and the Purchaser.

                  (b) UNDERWRITTEN OFFERINGS. In connection with any offering
involving an underwriting of shares being issued by the Company, the Company
shall not be required to include any Underlying Shares in such underwriting
unless such Purchaser accepts the terms of the underwriting as agreed upon
between the Company and the underwriters selected by it, and then only in such
quantity as will not, in the reasonable opinion of the underwriters, jeopardize
the success of the offering by the Company. If the underwriters reasonably
believe the total amount of Underlying Shares which the Purchaser requests to be
included in an underwritten offering pursuant to this Section 3, together with
any other shares of Common Stock for which registration has been requested by
holders with similar rights, exceeds the amount of securities that the
underwriters reasonably believe compatible with the success of the offering, the
Company shall only be required to include in the offering so many of the
Underlying Shares and such other shares of Common Stock as the underwriters
reasonably believe will not jeopardize the success of the offering, such shares
so included to be apportioned pro rata among the Purchaser and other holders
based on the number of shares for which registration was initially requested.

                  SECTION 3. Representations And Warranties Of Purchaser

         Purchaser represents and warrants to the Company that:

Section 3.1 INTENT. Purchaser is entering into this Agreement for its own
         account and Purchaser has no present arrangement (whether or not
         legally binding) at any time to sell the Common Stock to or through any
         person or entity; provided, however, Purchaser reserves the right to
         dispose of the Common Stock at any time in accordance with federal and
         state securities laws applicable to such disposition.

Section 3.2 SOPHISTICATED PURCHASER. Purchaser is a sophisticated Purchaser (as
         described in Rule 506(b)(2)(ii) of Regulation D) and an accredited
         Purchaser (as defined in Rule 501 of Regulation D), and Purchaser has
         such experience in business and financial matters that it is capable of
         evaluating the merits and risks of an investment in the Series A
         Preferred Stock. Purchaser acknowledges that an investment in the
         Series A Preferred Stock is speculative and involves a high degree of
         risk.

Section 3.3 AUTHORITY. (a) Purchaser has the requisite power and authority to
         enter into and perform its obligations under this Agreement and the
         transactions contemplated hereby in accordance with its terms; (b) the
         execution and delivery of this Agreement, and the consummation by it of
         the transactions contemplated hereby and thereby have been duly
         authorized by all necessary action and no further consent or
         authorization of Purchaser or its partners is required; and (c) this
         Agreement has been duly authorized and validly executed and delivered
         by Purchaser and is a valid and binding agreement of Purchaser
         enforceable against it in accordance with its terms, subject to
         applicable bankruptcy, insolvency, or similar laws relating to, or
         affecting generally the enforcement of, creditors' rights and remedies
         or by other equitable principles of general application.

Section 3.4 NOT AN AFFILIATE. Purchaser is not an officer, director or
         "affiliate" (as that term is defined in Rule 405 of the Securities Act)
         of the Company.

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Section 3.5 ORGANIZATION AND STANDING. Purchaser is a corporation duly
         organized, validly existing and in good standing under the laws Rhode
         Island, and has all requisite power and authority to own, lease and
         operate its properties and to carry on its business as now being
         conducted. Purchaser is duly qualified as a foreign corporation to do
         business and is in good standing in every jurisdiction in which the
         nature of the business conducted or property owned by it makes such
         qualification necessary, other than those in which the failure so to
         qualify would not have a material adverse effect on Purchaser.

Section 3.6 ABSENCE OF CONFLICTS. The execution and delivery of this Agreement
         and any other document or instrument contemplated hereby, and the
         consummation of the transactions contemplated hereby and thereby, and
         compliance with the requirements hereof and thereof, will not (a)
         violate any law, rule, regulation, order, writ, judgment, injunction,
         decree or award binding on Purchaser, (b) violate any provision of any
         indenture, instrument or agreement to which Purchaser is a party or is
         subject, or by which Purchaser or any of its assets is bound, or
         conflict with or constitute a material default thereunder, (c) result
         in the creation or imposition of any lien pursuant to the terms of any
         such indenture, instrument or agreement, or constitute a breach of any
         fiduciary duty owed by Purchaser to any third party, or (d) require the
         approval of any third-party (that has not been obtained) pursuant to
         any material contract, instrument, agreement, relationship or legal
         obligation to which Purchaser is subject or to which any of its assets,
         operations or management may be subject.

Section 3.7 DISCLOSURE; ACCESS TO INFORMATION. Purchaser has received all
         documents, records, books and other information pertaining to
         Purchaser's investment in the Company that has been requested by
         Purchaser. Purchaser has reviewed or received copies of the SEC
         Documents.

Section 3.8 MANNER OF SALE. At no time was Purchaser presented with or
         solicited by or through any leaflet, public promotional meeting,
         television advertisement or any other form of general solicitation or
         advertising.

Section 3.9 FINANCIAL CAPABILITY. Purchaser presently has the financial
         capacity and the necessary capital to perform its obligations
         hereunder.

                  SECTION 4. EXPENSES. Each party hereto will pay its own
         expenses in connection with the transactions contemplated hereby,
         whether or not such transactions shall be consummated.

                  SECTION 5. NOTICES. All notices, requests, consents, and other
         communications under this Agreement shall be in writing and shall be
         delivered by hand, sent via overnight courier, sent by facsimile, or
         mailed by first class certified or registered mail, return receipt
         requested, postage prepaid:

                  if to the Company, to:

                           Technest Holdings, Inc.
                           90 Grove Street
                           Ridgefield, Connecticut 06877
                           Attn:  Mark Allen

                  if to the Purchaser, to:

                           Verdi Consulting
                           ______________

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                  SECTION 6. SEVERABILITY. In case any provision contained in
         this Agreement should be invalid, illegal or unenforceable in any
         respect, the validity, legality and enforceability of the remaining
         provisions contained herein shall not in any way be affected or
         impaired thereby.

                  SECTION 7. GOVERNING LAW. This Agreement shall be governed by
         and interpreted in accordance with the laws of the State of New York
         for contracts to be wholly performed in such state and without giving
         effect to the principles thereof regarding the conflict of laws. Each
         of the parties consents to the exclusive jurisdiction of the federal
         courts whose districts encompass any part of the County of New York or
         the state courts of the State of New York sitting in the County of New
         York in connection with any dispute arising under this Agreement or any
         of the other Transaction Agreements and hereby waives, to the maximum
         extent permitted by law, any objection, including any objection based
         on FORUM NON CONVENIENS, to the bringing of any such proceeding in such
         jurisdictions. Each of the parties hereto expressly waives its right to
         a trial by jury with respect to any adjudication arising between the
         parties pursuant to this Agreement.

                  SECTION 8. ENTIRE AGREEMENT. This Agreement contains the
         entire agreement of the parties with respect to the subject matter
         hereof and supersedes and is in full substitution for any and all prior
         oral or written agreements and understandings between them related to
         such subject matter, and neither party hereto shall be liable or bound
         to the other party hereto in any manner with respect to such subject
         matter by any representations, indemnities, covenants or agreements
         except as specifically set forth herein.

                  [Remainder of page intentionally left blank.]

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         IN WITNESS WHEREOF, the parties hereto have caused this Securities
Purchase Agreement to be executed as of the date first above written by their
duly authorized representatives shown below:

                                            TECHNEST HOLDINGS, INC.

                                            By:

                                            Name: ______________________________

                                            Title:  ____________________________

                                            VERDI CONSULTING

                                            By:

                                            Name: ______________________________

                                            Title:  ____________________________

                                       5<PAGE>

                                                                    EXHIBIT 10.2

                                      NOTE

         NEITHER THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON CONVERSION
         HEREOF HAVE BEEN REGISTERED WITH THE UNITED STATES SECURITIES AND
         EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE OR UNDER
         THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITIES ARE RESTRICTED
         AND MAY NOT BE OFFERED, RESOLD, PLEDGED OR TRANSFERRED EXCEPT AS
         PERMITTED UNDER THE ACT PURSUANT TO REGISTRATION OR EXEMPTION OR SAFE
         HARBOR THEREFROM.

No.  ______                                                      [US $ ____,000]

                             TECHNEST HOLDINGS, INC.

                       8% NOTE DUE [____________ __, 200_]

        THIS Note is one of a duly authorized issue of up to [$____0,000] of
TECHNEST HOLDINGS, INC., a corporation organized and existing under the laws of
the State of Nevada and located at 90 Grove Street, Ridgefield CT 06877 (the
"Company") designated as its 8% Convertible Notes.

         FOR VALUE RECEIVED, the Company promises to pay to [_______________],
the registered holder hereof (the "Holder"), the principal sum of Three Thousand
and 00/100 Dollars (US $3,000) on [___________] and to pay interest on the
principal sum outstanding from time to time in arrears on [________________]
(the "Maturity Date"), at the rate of 8% per annum accruing from the date of
initial issuance of this Note (the "Issue Date"). Accrual of interest shall
commence on the first such business day to occur after the date hereof and shall
continue until payment in full of the principal sum has been made or duly
provided for. In the event of a default hereunder, the principal of, and
interest on, this Note is payable at the option of the Holder, in Common Shares
of the Company, $.001 par value per share ("Common Stock") as set forth below,
or in United States dollars, at the address last appearing on the Note Register
of the Company as designated in writing by the Holder from time to time. The
Company will pay the principal of and interest upon this Note on the Maturity
Date, less any amounts required by law to be deducted, to the registered holder
of this Note as of the tenth day prior to the Maturity Date and addressed to
such holder at the last address appearing on the Note Register. The forwarding
of such check shall constitute a payment of principal and interest hereunder and
shall satisfy and discharge the liability for principal and interest on this
Note to the extent of the sum represented by such check plus any amounts so
deducted.

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         This Note is subject to the following additional provisions:

         1. The Note is issuable in denominations of Ten Thousand Dollars
(US$10,000) and integral multiples thereof, provided that the number of shares
to be issued upon conversion is a minimum of 3,000 (unless if at the time of
election to convert the number of shares of Common Stock issuable upon
conversion is less than 3,000). The Note is exchangeable for an equal aggregate
principal amount of Notes of different authorized denominations, as requested by
the Holder surrendering the same. No service charge will be made for such
registration or transfer or exchange.

         2. The Holder of this Note is entitled at any time, at its option,
subject to the following provisions, to convert all or a portion of the
principal amount of this Note into shares of Common Stock at a conversion price
for each share of Common Stock equal to the Current Market Price multiplied by
seventy-five percent (75%) (the "Conversion Price"). "Current Market Price"
means the average closing bid price of the Common Stock as reported by
Bloomberg, LP or, if not so reported, as reported on the over-the-counter
market, for the five (5) trading days ending on the trading day immediately
before the relevant Conversion Date (as defined below). The amount of shares
issuable pursuant to a conversion shall equal the principal amount (or portion
thereof) of the Note to be converted divided by the Conversion Price.

                  Conversion shall be effectuated by surrendering the Note to be
converted to the Company, accompanied by or preceded by facsimile or other
delivery to the Company of the form of conversion notice attached hereto as
Exhibit A, executed by the Holder evidencing such Holder's intention to convert
a specified portion hereof, and accompanied, if required by the Company, by
proper assignment hereof in blank. Interest accrued or accruing from the date of
issuance to the date of conversion shall, at the option of the Company, be paid
in cash or Common Stock upon conversion at the Conversion Price. No fractional
shares of Common Stock or scrip representing fractions of shares will be issued
on conversion, but the number of shares issuable shall be rounded to the nearest
whole share. The date on which notice of conversion is given (the "Conversion
Date") shall be deemed to be the date on which the Holder faxes or otherwise
delivers the conversion notice ("Notice of Conversion"), substantially in the
form annexed hereto as Exhibit A, duly executed, to the Company. Facsimile
delivery of the Notice of Conversion shall be accepted by the Company at
facsimile number ( )_______ ATTN: PRESIDENT . Certificates representing Common
Stock upon conversion will be delivered within three (3) business days from the
date the Notice of Conversion is delivered to the Company.

         3. The Company shall be entitled to withhold from all payments of
principal of, and interest on, this Note any amounts required to be withheld
under the applicable provisions of the United States income tax laws or other
applicable laws at the time of such payments, and Holder shall execute and
deliver all required documentation in connection therewith.

         4. This Note has been issued subject to investment representations of
the original purchaser hereof and may be transferred or exchanged only in
compliance with the Securities Act of 1933, as amended (the "Act"), and other
applicable state and foreign securities laws. In the event of any proposed
transfer of this Note, the Company may require, prior to issuance of a new Note

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in the name of such other person, that it receive reasonable transfer
documentation including legal opinions that the issuance of the Note in such
other name does not and will not cause a violation of the Act or any applicable
state or foreign securities laws. Prior to due presentment for transfer of this
Note, the Company and any agent of the Company may treat the person in whose
name this Note is duly registered on the Company's Note Register as the owner
hereof for the purpose of receiving payment as herein provided and for all other
purposes, whether or not this Note be overdue, and neither the Company nor any
such agent shall be affected by notice to the contrary.

         5. No provision of this Note shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of, and
interest on, this Note at the time, place, and rate, and in the coin or
currency, herein prescribed. This Note is a direct obligation of the Company.

         6. No recourse shall be had for the payment of the principal of, or the
interest on, this Note, or for any claim based hereon, or otherwise in respect
hereof, against any incorporator, shareholder, officer or director, as such,
past, present or future, of the Company or any successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issue hereof, expressly waived
and released.

         7. The Holder of the Note, by acceptance hereof, agrees that this Note
is being acquired for investment and that such Holder will not offer, sell or
otherwise dispose of this Note or the shares of Common Stock issuable upon
conversion thereof except under circumstances which will not result in a
violation of the Act or any applicable state Blue Sky or foreign laws or similar
laws relating to the sale of securities.

         8. This Note shall be governed by and construed in accordance with the
laws of the State of New York. Each of the parties consents to the jurisdiction
of the federal courts whose districts encompass any part of the City of New York
or the state courts of the State of New York sitting in the City of New York in
connection with any dispute arising under this Agreement and hereby waives, to
the maximum extent permitted by law, any objection, including any objection
based on FORUM NON COVENIENS, to the bringing of any such proceeding in such
jurisdictions.

         9. The following shall constitute an "Event of Default":

                  a.       The Company shall default in the payment of principal
                           or interest on this Note and same shall continue for
                           a period of five (5) days; or

                  b.       Any of the representations or warranties made by the
                           Company herein, in any certificate or financial or
                           other written statements heretofore or hereafter
                           furnished by the Company in connection with the
                           execution and delivery of this Note shall be false or
                           misleading in any material respect at the time made;
                           or

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                  c.       The Company shall fail to perform or observe, in any
                           material respect, any other covenant, term,
                           provision, condition, agreement or obligation of any
                           Note and such failure shall continue uncured for a
                           period of thirty (30) days after written notice from
                           the Holder of such failure; or

                  d.       [INTENTIONALLY LEFT BLANK]

                  e.       The Company shall (1) admit in writing its inability
                           to pay its debts generally as they mature; (2) make
                           an assignment for the benefit of creditors or
                           commence proceedings for its dissolution; or (3)
                           apply for or consent to the appointment of a trustee,
                           liquidator or receiver for its or for a substantial
                           part of its property or business; or

                  f.       A trustee, liquidator or receiver shall be appointed
                           for the Company or for a substantial part of its
                           property or business without its consent and shall
                           not be discharged within sixty (60) days after such
                           appointment; or

                  g.       Any governmental agency or any court of competent
                           jurisdiction at the instance of any governmental
                           agency shall assume custody or control of the whole
                           or any substantial portion of the properties or
                           assets of the Company and shall not be dismissed
                           within sixty (60) days thereafter; or

                  h.       Any money judgment, writ or warrant of attachment, or
                           similar process in excess of Fifty Thousand ($50,000)
                           Dollars in the aggregate shall be entered or filed
                           against the Company or any of its properties or other
                           assets and shall remain unpaid, unvacated, unbonded
                           or unstayed for a period of sixty (60) days or in any
                           event later than five (5) days prior to the date of
                           any proposed sale thereunder; or

                  i.       Bankruptcy, reorganization, insolvency or liquidation
                           proceedings or other proceedings for relief under any
                           bankruptcy law or any law for the relief of debtors
                           shall be instituted by or against the Company and, if
                           instituted against the Company, shall not be
                           dismissed within sixty (60) days after such
                           institution or the Company shall by any action or
                           answer approve of, consent to, or acquiesce in any
                           such proceedings or admit the material allegations
                           of, or default in answering a petition filed in any
                           such proceeding; or

                  j.       The Company shall have its Common Stock suspended or
                           delisted from an exchange or over-the-counter market
                           from trading for in excess of two trading days.

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Then, or at any time thereafter, and in each and every such case, unless such
Event of Default shall have been waived in writing by the Holder (which waiver
shall not be deemed to be a waiver of any subsequent default) at the option of
the Holder and in the Holder's sole discretion, the Holder may consider all
obligations under this Note immediately due and payable within five (5) days of
notice, without presentment, demand, protest or notice of any kinds, all of
which are hereby expressly waived, anything herein or in any note or other
instruments contained to the contrary notwithstanding, and the Holder may
immediately enforce any and all of the Holder's rights and remedies provided
herein or any other rights or remedies afforded by law.

         10. The Holder may not convert this Note or receive shares of Common
Stock as payment of interest hereunder to the extent such conversion or receipt
of such interest payment would result in the Holder, together with any affiliate
thereof, beneficially owning (as determined in accordance with Section 13(d) of
the Exchange Act and the rules promulgated thereunder) in excess of 9.999% of
the then issued and outstanding shares of Common Stock, including shares
issuable upon conversion of, and payment of interest on, the Notes held by such
Holder after application of this Section. Since the Holder will not be obligated
to report to the Company the number of shares of Common Stock it may hold at the
time of a conversion hereunder, unless the conversion at issue would result in
the issuance of shares of Common Stock in excess of 9.999% of the then
outstanding shares of Common Stock without regard to any other shares which may
be beneficially owned by the Holder or an affiliate thereof, the Holder shall
have the authority and obligation to determine whether the restriction contained
in this Section will limit any particular conversion hereunder and to the extent
that the Holder determines that the limitation contained in this Section
applies, the determination of which portion of the principal amount of Notes are
convertible shall be the responsibility and obligation of the Holder. If the
Holder has delivered a Conversion Notice for a principal amount of Notes that
would result in the issuance of in excess of the permitted amount hereunder,
without regard to any other shares that the Holder or its affiliates may
beneficially own, the Company shall notify the Holder of this fact and shall
honor the conversion for the maximum principal amount permitted to be converted
on such Conversion Date and, at the option of the Holder, either retain any
principal amount tendered for conversion in excess of the permitted amount
hereunder for future conversions or return such excess principal amount to the
Holder. The provisions of this Section may be waived by a Holder (but only as to
itself and not to any other Holder) upon not less than 61 days prior notice to
the Company. Other Holders shall be unaffected by any such waiver

         11. Nothing contained in this Note shall be construed as conferring
upon the Holder the right to vote or to receive dividends or to consent or
receive notice as a shareholder in respect of any meeting of shareholders or any
rights whatsoever as a shareholder of the Company, unless and to the extent
converted in accordance with the terms hereof.

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         IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed by an officer thereunto duly authorized.

Dated:

                                                     TECHNEST HOLDINGS INC.

                                                     By:________________________

                                                     ___________________________
                                                     (Print Name)
                                                     ___________________________
                                                     Director

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