<SUBMISSION>
<ACCESSION-NUMBER>0001376474-12-000108
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20120502
<ITEMS>1.01
<ITEMS>3.03
<ITEMS>9.01
<FILING-DATE>20120508
<DATE-OF-FILING-DATE-CHANGE>20120508
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>TECHNEST HOLDINGS INC
<CIK>0001077800
<ASSIGNED-SIC>3829
<IRS-NUMBER>880357272
<STATE-OF-INCORPORATION>NV
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-27023
<FILM-NUMBER>12822213
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>352A CHRISTOPHER AVENUE
<CITY>GAITHERSBURG
<STATE>MD
<ZIP>20879
<PHONE>301-767-2810
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>352A CHRISTOPHER AVENUE
<CITY>GAITHERSBURG
<STATE>MD
<ZIP>20879
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>FINANCIAL INTRANET INC/NY
<DATE-CHANGED>19990128
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tn_8k.htm
<DESCRIPTION>TECHNEST INC. - 8-K FILING
<TEXT>
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<HTML><HEAD><TITLE>UNITED STATES</TITLE>
<META name=author content="Lawrence Metelitsa">
<META name=date content=05/04/2012>
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style="MARGIN-TOP: 0px; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt">
<DIV style="WIDTH: 720px">
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-SIZE: 12pt" align=center><B>UNITED STATES</B></P>
<P style="MARGIN: 0px; FONT-SIZE: 12pt" align=center><B>SECURITIES AND EXCHANGE
COMMISSION</B></P>
<P style="MARGIN: 0px; FONT-SIZE: 12pt" align=center>Washington, D.C. 20549</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-SIZE: 14pt" align=center><B>FORM 8-K</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B>CURRENT REPORT</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center>Date of Report (Date of earliest event
reported): <B>May 2, 2012</B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<TABLE style="MARGIN-TOP: 0px; FONT-SIZE: 10pt" cellSpacing=0 cellPadding=0
width="100%">

  <TR style="FONT-SIZE: 0px">
    <TD></TD>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px; FONT-SIZE: 16pt" align=center><B>ACCELPATH,
      INC</B></P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px" align=center>(Exact name of registrant as specified
      in its charter)</P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<TABLE style="MARGIN-TOP: 0px; FONT-SIZE: 10pt" cellSpacing=0 cellPadding=0
width="100%">

  <TR style="FONT-SIZE: 0px">
    <TD>
    <TD width=41>
    <TD width=212>
    <TD width=40>
    <TD width=212></TD>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px" align=center><B>Delaware</B></P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=41>
      <P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px" vAlign=top
    width=212>
      <P style="MARGIN: 0px" align=center><B>000-27023</B></P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=40>
      <P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px" vAlign=top
    width=212>
      <P style="MARGIN: 0px" align=center><B>45-5151193</B></P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px" align=center>(State or other jurisdiction<BR>of
      incorporation)</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=41>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=212>
      <P style="MARGIN: 0px" align=center>(Commission File Number)</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=40>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=212>
      <P style="MARGIN: 0px" align=center>(IRS Employer<BR>Identifica&shy;tion
      No.)</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="MARGIN-TOP: 0px; FONT-SIZE: 10pt" cellSpacing=0 cellPadding=0
width="100%">

  <TR style="FONT-SIZE: 0px">
    <TD width=240>
    <TD>
    <TD width=239></TD>
  <TR>
    <TD style="MARGIN-TOP: 0px" width=240>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px" align=center><B>352A Christopher Avenue, </B></P>
      <P style="MARGIN: 0px" align=center><B>Gaithersburg, Maryland
    20879</B></P></TD>
    <TD style="MARGIN-TOP: 0px" width=239>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" width=240>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px" align=center>(Address of Principal
      Executive<BR>Offices)</P></TD>
    <TD style="MARGIN-TOP: 0px" width=239>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=center><BR><B>(301) 767-2810</B></P>
<P style="MARGIN: 0px" align=center>Registrant's telephone number, including
area code<BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=justify>Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Wingdings" align=justify>"<FONT
style="FONT-FAMILY: Times New Roman">&nbsp;Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Wingdings" align=justify>"<FONT
style="FONT-FAMILY: Times New Roman">&nbsp;Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Wingdings" align=justify>"<FONT
style="FONT-FAMILY: Times New Roman">&nbsp;Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Wingdings" align=justify>"<FONT
style="FONT-FAMILY: Times New Roman">&nbsp;Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</FONT></P><A name=pgbrk></A><A name=ftr></A><A name=glftr></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-SIZE: 8pt" align=center>1<A name=pn></A></P>
<P style="MARGIN: 0px" align=center><BR></P><A name=hdr></A><A name=glhdr></A>
<P style="MARGIN: 0px"><BR><BR><BR><BR><BR><BR><BR><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Item&nbsp;1.01 Entry into Material Definitive
Agreement.</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>Pursuant to the Agreement and Plan of
Merger ("Merger Agreement") dated as of May 1, 2012, by and between, Technest
Holdings, Inc, a Nevada corporation ("Technest"), and AccelPath, Inc., a
Delaware corporation and wholly-owned subsidiary of Technest ("AccelPath" or the
"Surviving Corporation"), effective as of May 2, 2012, Technest merged with and
into AccelPath, with AccelPath being the surviving entity (the "Reincorporation
Merger").</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>The Reincorporation Merger was consummated
to move our domicile from Nevada to Delaware, as described in Technest's
Definitive Information Statement on Schedule&nbsp;14C, filed with the Securities
and Exchange Commission on March&nbsp;16, 2012, which description is
incorporated by reference herein (the "Information Statement"). As described in
the Information Statement, the Merger Agreement and Reincorporation Merger were
duly approved by the written consent of stockholders of Technest owning at least
a majority of the outstanding shares of Technest's common stock, par value
$0.0001 per share (the "Technest Common Stock"), dated February 17, 2012. A copy
of the Merger Agreement is attached to this report as Exhibit&nbsp;2.1 and is
incorporated herein by reference.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Pursuant to the terms of the Merger Agreement,</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="MARGIN-TOP: 0px; FONT-SIZE: 10pt" cellSpacing=0 cellPadding=0
width="100%">

  <TR style="FONT-SIZE: 0px">
    <TD width=14>
    <TD width=22>
    <TD width=7>
    <TD></TD>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=22>
      <P style="MARGIN: 0px">(i)</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">our corporate name was changed from Technest
      Holdings, Inc. to AccelPath, Inc.;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 6pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=22>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px; FONT-SIZE: 8pt">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=22>
      <P style="MARGIN: 0px">(ii)</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">our domicile changed from the State of Nevada to
      the State of Delaware;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 6pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=22>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px; FONT-SIZE: 8pt">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=22>
      <P style="MARGIN: 0px">(iii)</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">we are now governed by the laws of the State of
      Delaware and by AccelPaths's Certificate of Incorporation and
    Bylaws;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 6pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=22>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px; FONT-SIZE: 8pt">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=22>
      <P style="MARGIN: 0px">(iv)</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">each certificate theretofore representing issued
      and outstanding shares of Technest Common Stock will thereafter be deemed
      to represent the same number of shares of the Surviving Corporation. The
      holders of outstanding certificates theretofore representing Technest
      Common Stock will not be required to surrender such certificate to
      Technest or the Surviving Corporation</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 6pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=22>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px; FONT-SIZE: 8pt">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=22>
      <P style="MARGIN: 0px">(v)</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">Technest's existing executive officers and
      directors became the executive officers and directors of AccelPath, Inc;
      and</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 6pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=22>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px; FONT-SIZE: 8pt">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=22>
      <P style="MARGIN: 0px">(vi)</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=7>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">AccelPath succeeded to the ownership of all of
      Technest's assets and has the rights, power and privileges and assumed all
      of Technest's obligations.</P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>A description of the provisions of the
Certificate of incorporation and Bylaws of AccelPath is included in the
Information Statement. Copies of the Certificate of Incorporation and Bylaws of
AccelPath are attached hereto as Exhibits 3.1 and Exhibit&nbsp;3.2,
respectively.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>The Reincorporation Merger did not result
in any change in headquarters, business, jobs, management, location of any
offices or facilities, number of employees, assets, liabilities or net worth
(other than as a result of the costs incident to the Reincorporation Merger,
which are not material). Management, including all directors and officers,
remain the same immediately after the Reincorporation Merger. There were no
changes in any direct or indirect interests of the current directors or
executive officers as a result of the Reincorporation Merger. Following the
Reincorporation Merger, the common stock of the Surviving Corporation will be
registered under Section 12(g) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act") by virtue of Rule&nbsp;12g-3 of the Exchange Act.
The CUSIP number for the common stock of the Surviving Corporation is
00433U100.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>At the effective time of the
Reincorporation Merger, each outstanding share of Technest Common Stock
automatically was converted into one share of AccelPath Common Stock.
Stockholders are not required to exchange their existing stock certificates,
which now represent an equal number of shares of AccelPath Common Stock.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>The common stock of the Surviving
Corporation will trade on the OTCBB under the trading symbol ACLP (instead of
TCNH.OB).</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>The foregoing description of the Merger
Agreement is intended to be a summary and is qualified in its entirety by
reference to such agreement, which is attached as Exhibit&nbsp;2.1 and
incorporated by reference as if fully set forth herein.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>2</P>
<P style="MARGIN: 0px" align=center><BR></P><A name=gmnh001></A><A
name=part_1_2_2></A><A name=item_1_37_1></A>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"
align=justify><B>Item&nbsp;3.03 Material Modification to Rights of Security
Holders.</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>As a result of the Reincorporation Merger
disclosed under Item&nbsp;1.01 above, each outstanding share of Technest Common
Stock has been automatically converted into one share of AccelPath Common Stock.
Each outstanding certificate representing Technest Common Stock is now deemed,
without any action by the stockholder, to represent the same number of shares of
AccelPath Common Stock. Stockholders do not need to exchange their stock
certificates as a result of the Reincorporation Merger.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>In accordance with Rule&nbsp;12g-3 under
the Exchange Act, the common stock of the Surviving Corporation will be
registered under Section 12(g) of the Exchange Act. The CUSIP number for the
common stock of the Surviving Corporation is 00433U100. The Surviving
Corporation's common stock will trade on the OTCBB under the trading symbol
ACLP.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>Prior to the effective time of the
Reincorporation Merger, our corporate affairs were governed by the corporate
laws of Nevada. The rights of our stockholders were subject to Technest's
Articles of incorporation and its Bylaws. As a result of the Reincorporation
Merger, holders of Technest Common Stock are now holders of AccelPath Common
Stock, and their rights as holders are governed by the General Corporation Law
of Delaware and the AccelPath Certificate of Incorporation and Bylaws, which are
filed as Exhibit&nbsp;3.1 and Exhibit&nbsp;3.2, respectively, to this Current
Report on Form 8-K and incorporated herein by reference.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>Delaware corporate law will now be
applicable in the determination of the rights of our stockholders. Please see
the discussion entitled<I> &nbsp;Changes from Nevada to Delaware Law </I>in the
Information Statement for a summary of all of the material terms of the charter
documents and laws of the two States as they pertain to stockholder rights.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>The foregoing description of the
Reincorporation Merger is intended to be a summary and is qualified in its
entirety by reference to the information disclosed under Item&nbsp;1.01 above
and the exhibits filed herewith, all of which are incorporated herein by
reference.<A name=gmnh002></A><A name=part_1_2_3></A><A
name=item_1_41_1></A></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Item&nbsp;9.01 Financial Statements and
Exhibits</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">(d)&nbsp;Exhibits</P>
<TABLE style="MARGIN-TOP: 0px; FONT-SIZE: 10pt" cellSpacing=0 cellPadding=0
width="100%">

  <TR style="FONT-SIZE: 0px">
    <TD width=72>
    <TD width=14>
    <TD></TD>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=72>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px" vAlign=bottom
    width=72>
      <P style="MARGIN: 0px; FONT-SIZE: 8pt"><B>Exhibit No.</B></P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-SIZE: 8pt; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px"
      vAlign=bottom><P
    style="MARGIN: 0px; FONT-SIZE: 8pt"><B>Description</B></P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=72>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=72>
      <P style="MARGIN: 0px">2.1</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">Agreement and Plan of Merger, dated as of May 1,
      2012, by and between, Technest Holdings Inc., a Nevada corporation, and
      AccelPath, Inc., a Delaware corporation and wholly-owned subsidiary of
      Technest</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=72>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=72>
      <P style="MARGIN: 0px">3.1</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">Certificate of Incorporation of AccelPath,
    Inc.</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=72>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=72>
      <P style="MARGIN: 0px">3.2</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">Bylaws of AccelPath, Inc.</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=72>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=bottom width=14>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B>[SIGNATURE PAGE FOLLOWS]</B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center>3</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"
align=center><B>SIGNATURES</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.</P>
<TABLE style="MARGIN-TOP: 0px; FONT-SIZE: 10pt" cellSpacing=0 cellPadding=0
width="100%">

  <TR style="FONT-SIZE: 0px">
    <TD>
    <TD width=27>
    <TD width=43>
    <TD width=232>
    <TD width=97></TD>
  <TR>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=27>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=43>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=232>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=97>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=303 colSpan=3>
      <P style="MARGIN: 0px"><B>ACCELPATH, INC.</B></P></TD>
    <TD style="MARGIN-TOP: 0px" width=97>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=303 colSpan=3>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=97>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px">Date: May 8, 2012</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=27>
      <P style="MARGIN: 0px">By:</P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px" width=275
    colSpan=2>
      <P style="MARGIN: 0px">/s/ Shekhar Wadekar</P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px" width=97>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=27>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=43>
      <P style="MARGIN: 0px">Name:</P></TD>
    <TD style="MARGIN-TOP: 0px" width=232>
      <P style="MARGIN: 0px">Shekhar Wadekar&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=97>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px">
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=27>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=43>
      <P style="MARGIN: 0px">Title:</P></TD>
    <TD style="MARGIN-TOP: 0px" width=232>
      <P style="MARGIN: 0px">Chief Executive Officer&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" width=97>
      <P style="MARGIN: 0px">&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center>4</P>
<P style="MARGIN: 0px" align=center><BR><BR></P></DIV><!-- EDGAR Validation Code: 6E0359E5 --></BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>tn_ex2z1.htm
<DESCRIPTION>AGREEMENT AND PLAN OF MERGER
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>AGREEMENT AND PLAN OF MERGER </TITLE>
<META NAME="author" CONTENT="Lawrence Metelitsa">
<META NAME="date" CONTENT="05/04/2012">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin:0px"><BR></P>
<DIV style="width:720px"><P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>AGREEMENT AND PLAN OF MERGER</B></FONT><FONT style="font-family:Arial; background-color:#FFFFFF"> </FONT></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:32.667px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF"><B>AGREEMENT AND PLAN OF MERGER (&#147;Agreement&#148;)</B></FONT><FONT style="background-color:#FFFFFF">, dated as of&nbsp;May 1, 2012, by and between Technest Holdings, Inc., a Nevada corporation </FONT><FONT style="background-color:#FFFFFF"><B>(&#147;Parent&#148;</B></FONT><FONT style="background-color:#FFFFFF">), and AccelPath, Inc., a Delaware corporation </FONT><FONT style="background-color:#FFFFFF"><B>(&#147;Subsidiary&#148;</B></FONT><FONT style="background-color:#FFFFFF">). </FONT></P>
<P style="margin:0px; font-size:12pt">&nbsp;</P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>RECITALS: </B></FONT></P>
<P style="margin:0px; font-size:12pt">&nbsp;</P>
<P style="margin:0px; font-size:12pt" align=justify><B>WHEREAS</B> Parent is a corporation organized and existing under the laws of the State of Nevada. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=justify><B>WHEREAS</B> Subsidiary is a corporation organized and existing under the laws of the State of Delaware and is a wholly-owned subsidiary of Parent. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=justify><B>WHEREAS</B> Parent and its board of directors deem it advisable and in the best interests of Parent and its stockholders to merge Parent with and into Subsidiary pursuant to the provisions of Nevada Revised Statutes <B>(&#147;NRS&#148;)</B> and the Delaware General Corporation Law <B>(&#147;DGCL&#148;)</B> upon the terms and conditions set forth in this Agreement, subject to the approval of the Parent&#146;s stockholders as contemplated in Section&nbsp;4.1. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=justify>&nbsp;<B>NOW THEREFORE</B>, in consideration of the premises, the mutual covenants herein contained and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree that Parent shall be merged with and into Subsidiary (the <B>&#147;Merger&#148;</B>) upon the terms and conditions set forth below. </P>
<P style="margin:0px; font-size:12pt">&nbsp;</P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>ARTICLE&nbsp;1</B></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>PRINCIPAL TERMS OF THE MERGER </B></FONT></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">1.1&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Merger</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;On the Effective Date (as defined in Section&nbsp;4.1 below), Parent shall be merged with and into Subsidiary and the separate existence of Parent shall cease. Subsidiary shall be the surviving corporation (sometimes hereinafter referred to as the </FONT><FONT style="font-size:12pt"><B>&#147;Surviving Corporation&#148;</B></FONT><FONT style="font-size:12pt">) in the Merger and shall operate under the name &#147;AccelPath, Inc.&#148; by virtue of, and shall be governed by, the laws of Delaware. The address of the registered office of the Surviving Corporation in Delaware will be AccelPath, Inc and the registered agent in charge thereof shall be VCorp Services, LLC.</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">1.2&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Certificate of Incorporation of the Surviving Corporation</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;The certificate of incorporation of the Surviving Corporation shall be the certificate of incorporation of Subsidiary as in effect on the date hereof without change unless and until amended in accordance with applicable law.</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">1.3&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Bylaws of the Surviving Corporation</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;The bylaws of the Surviving Corporation shall be the bylaws of Subsidiary as in effect on the date hereof without change unless and until amended or repealed in accordance with applicable law. </FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center>1</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">1.4&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Directors and Officers</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;At the Effective Date of the Merger, the directors and officers of Parent in office at the Effective Date of the Merger shall become the directors and officers, respectively, of the Surviving Corporation, each of such directors and officers to hold office, subject to the applicable provisions of the certificate of incorporation and bylaws of the Surviving Corporation and the DGCL, until his or her successor is duly elected or appointed and qualified. The Surviving Corporation will have a board of directors identical to that of the Parent, with the Surviving Corporation&#146;s current board members comprised of the directors set forth below: </FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:56.667px; width:80.667px; font-family:Symbol; font-size:12pt; float:left"><FONT style="background-color:#FFFFFF">&#183;</FONT></P>
<P style="margin:0px; padding-left:80.667px; text-indent:-2px; font-size:12pt"><FONT style="background-color:#FFFFFF">Shekar G. Wadekar</FONT></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:56.667px; width:80.667px; font-family:Symbol; font-size:12pt; clear:left; float:left"><FONT style="background-color:#FFFFFF">&#183;</FONT></P>
<P style="margin:0px; padding-left:80.667px; text-indent:-2px; font-size:12pt"><FONT style="background-color:#FFFFFF">Suren G. Dutia</FONT></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:56.667px; width:80.667px; font-family:Symbol; font-size:12pt; clear:left; float:left"><FONT style="background-color:#FFFFFF">&#183;</FONT></P>
<P style="margin:0px; padding-left:80.667px; text-indent:-2px; font-size:12pt"><FONT style="background-color:#FFFFFF">Henry Sargent</FONT></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:56.667px; width:80.667px; font-family:Symbol; font-size:12pt; clear:left; float:left"><FONT style="background-color:#FFFFFF">&#183;</FONT></P>
<P style="margin:0px; padding-left:80.667px; text-indent:-2px; font-size:12pt"><FONT style="background-color:#FFFFFF">F. Howard Schneider</FONT></P>
<P style="margin:0px; clear:left" align=center><BR></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>ARTICLE&nbsp;2</B></FONT></P>
<P style="margin:0px; font-size:12pt"><B>&nbsp;</B></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>CONVERSION, CERTIFICATES AND PLANS </B></FONT></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:7.2pt">SECTION&nbsp;<FONT style="font-size:12pt">2.1&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Conversion of Shares</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;At the Effective Date of the Merger, each of the following transactions shall be deemed to occur simultaneously: </FONT></P>
<P style="margin:0px; font-size:12pt">&nbsp;</P>
<P style="margin:0px; text-indent:32.667px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">(a)&nbsp;</FONT><FONT style="background-color:#FFFFFF"><I><U>Common and Preferred Stock</U></FONT><FONT style="background-color:#FFFFFF">.</I></FONT><FONT style="background-color:#FFFFFF">&nbsp;&nbsp;Each share of Parent&#146;s common stock, $0.001&nbsp;par value and each share of the Parent&#146;s designated preferred stock, par value $0.001 per share </FONT><FONT style="background-color:#FFFFFF"><B>(</B></FONT><FONT style="background-color:#FFFFFF">together the</FONT><FONT style="background-color:#FFFFFF"><B> &#147;Parent Stock&#148;)</B></FONT><FONT style="background-color:#FFFFFF">, issued and outstanding immediately before the Effective Date shall, by virtue of the Merger and without any action on the part of the holder thereof, be converted, on a one for one basis, into and become validly issued, fully paid and nonassessable shares of the Surviving Corporation&#146;s common stock, $0.001&nbsp;par value, or validly issued, fully paid and nonassessable shares of the Surviving Corporation&#146;s designated preferred stock, par value $0.001 per share, as applicable </FONT><FONT style="background-color:#FFFFFF"><B>(</B></FONT><FONT style="background-color:#FFFFFF">together the</FONT><FONT style="background-color:#FFFFFF"><B> &#147;Surviving Corporation Stock&#148;</B></FONT><FONT style="background-color:#FFFFFF"> or </FONT><FONT style="background-color:#FFFFFF"><B>&#147;Subsidiary Stock&#148;)</B></FONT><FONT style="background-color:#FFFFFF">, and each unissued share of Parent Stock held in Parent&#146;s treasury shall be canceled without any consideration being issued or paid therefor. &nbsp;</FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:32.667px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">(b)&nbsp;</FONT><FONT style="background-color:#FFFFFF"><I><U>Options</U></FONT><FONT style="background-color:#FFFFFF">.</I></FONT><FONT style="background-color:#FFFFFF">&nbsp;&nbsp;Each option to acquire shares of Parent Stock outstanding immediately before the Effective Date shall, by virtue of the Merger and without any action on the part of the holder thereof, be converted into and become an equivalent option to acquire, upon the same terms and conditions, the number of shares of Surviving Corporation Stock that is equal to the number of shares of Parent Stock the optionee would have received had the optionee exercised such option in full immediately before the Effective Date (whether or not such option was then exercisable) and the exercise price per share under each such option shall be equal to the exercise price per share thereunder immediately before the Effective Date. </FONT></P>
<P style="margin:0px; font-size:12pt" align=justify>&nbsp;</P>
<P style="margin:0px; text-indent:32.667px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">(c)&nbsp;</FONT><FONT style="background-color:#FFFFFF"><I><U>Subsidiary Stock</U></FONT><FONT style="background-color:#FFFFFF">.</I></FONT><FONT style="background-color:#FFFFFF">&nbsp;&nbsp;Each share of Subsidiary Stock issued and outstanding immediately before the Effective Date and held by Parent shall be canceled without any consideration being issued or paid therefor. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF">2</FONT></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">2.2&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Stock Certificates</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;After the Effective Date, each certificate theretofore representing issued and outstanding shares of Parent Stock will thereafter be deemed to represent the same number of shares of the Surviving Corporation Stock. The holders of outstanding certificates theretofore representing Parent Stock will not be required to surrender such certificate to Parent or the Surviving Corporation. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">2.3&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Reorganization</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;For United States federal income tax purposes, the Merger is intended to constitute a tax-free reorganization within the meaning of section&nbsp;368(a) of the Internal Revenue Code of 1986, as amended. The parties to this Agreement hereby adopt this Agreement as a &#147;plan of reorganization&#148; within the meaning of sections&nbsp;1.368-2(g) and 1.368-3(a) of the United States Treasury Regulations. </FONT></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>ARTICLE&nbsp;3</B></FONT></P>
<P style="margin:0px; font-size:12pt"><B>&nbsp;</B></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>TRANSFER AND CONVEYANCE OF ASSETS AND ASSUMPTION OF LIABILITIES </B></FONT></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">3.1&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Effects of the Merger</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;At the Effective Date, the Merger shall have the effects specified in the NRS, the DGCL and this Agreement. Without limiting the generality of the foregoing, and subject thereto, at the Effective Date the Surviving Corporation shall possess all the rights, privileges, powers and franchises, of a public as well as a private nature, and shall be subject to all the restrictions, disabilities and duties of each of the parties to this Agreement; the rights, privileges, powers and franchises of Parent and Subsidiary, and all property, real, personal and mixed, and all debts due to each of them on whatever account, shall be vested in the Surviving Corporation; and all property, rights, privileges, powers and franchises, and all and every other interest shall be thereafter the property of the Surviving Corporation, as they were of the respective constituent entities, and the title to any real estate, whether by deed or otherwise vested in Parent and Subsidiary or either of them, shall not revert or be in any way impaired by reason of the Merger; but all rights of creditors and all liens upon any property of the parties hereto shall be preserved unimpaired, and all debts, liabilities and duties of the respective constituent entities shall subsequently attach to the Surviving Corporation and may be enforced against it to the same extent as if such debts, liabilities and duties had been incurred or contracted by it. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">3.2&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Additional Actions</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;If, at any time after the Effective Date of the Merger, the Surviving Corporation shall consider or be advised that any further assignments or assurances in law or any other acts are necessary or desirable (a)&nbsp;to vest, perfect or confirm, of record or otherwise, in the Surviving Corporation, title to and possession of any property or right of Parent acquired or to be acquired by reason of, or as a result of, the Merger, or (b)&nbsp;otherwise to carry out the purposes of this Agreement, the Surviving Corporation may execute and deliver all such proper deeds, assignments and assurances in law and to do all acts necessary or proper to vest, perfect or confirm title to and possession of such property or rights in the Surviving Corporation and otherwise to carry out the purposes of this Agreement. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=center>3</P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>ARTICLE&nbsp;4</B></FONT></P>
<P style="margin:0px; font-size:12pt"><B>&nbsp;</B></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>APPROVAL BY STOCKHOLDERS; AMENDMENT; EFFECTIVE DATE </B></FONT></P>
<P style="margin:0px; font-size:12pt">&nbsp;</P>
<P style="margin:0px; font-size:7.2pt" align=justify><FONT style="background-color:#FFFFFF">SECTION&nbsp;</FONT><FONT style="font-size:12pt; background-color:#FFFFFF">4.1&nbsp;&nbsp;</FONT><FONT style="font-size:12pt; background-color:#FFFFFF"><I><U>Approval</U></I></FONT><FONT style="font-size:12pt; background-color:#FFFFFF"><I>.</I></FONT><FONT style="font-size:12pt; background-color:#FFFFFF">&nbsp;&nbsp;This Agreement and the Merger contemplated hereby are subject to approval by the requisite vote, or a written consent in lieu of vote, of the Parent&#146;s stockholders in accordance with the NRS and compliance with the requirements of law, including the securities laws of the United States. As promptly as practicable after the later of (a)&nbsp;approval of this Agreement by the Parent&#146;s stockholders in accordance with applicable law and (b)&nbsp;compliance with applicable securities laws, including, but not limited to, the filing of a Schedule&nbsp;14C with the Securities and Exchange Commission and the mailing of a definitive Schedule&nbsp;14C to the Parent&#146;s stockholders, duly authorized officers of the respective parties shall make and execute Articles of Merger and a Certificate of Ownership and Merger and shall cause such documents to be filed with the Secretary of State of Nevada and the Secretary of State of Delaware, respectively, in accordance with the laws of Nevada and Delaware and applicable U.S.&nbsp;federal securities laws. The effective date of the Merger </FONT><FONT style="font-size:12pt; background-color:#FFFFFF"><B>(&#147;Effective Date&#148;)</B></FONT><FONT style="font-size:12pt; background-color:#FFFFFF"> shall be the date and time on and at which the Merger becomes effective under the laws of Nevada or the date and time on and at which the Merger becomes effective under the laws of Delaware, whichever occurs later and is subject to FINRA approval. The execution and delivery hereof by the Parent shall constitute the approval and adoption of, and consent to, the Merger Agreement and the transactions contemplated thereby in Parent&#146;s capacity as the sole stockholder of the Subsidiary. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify><FONT style="background-color:#FFFFFF">SECTION&nbsp;</FONT><FONT style="font-size:12pt; background-color:#FFFFFF">4.2&nbsp;&nbsp;</FONT><FONT style="font-size:12pt; background-color:#FFFFFF"><I><U>Amendments</U></I></FONT><FONT style="font-size:12pt; background-color:#FFFFFF"><I>.</I></FONT><FONT style="font-size:12pt; background-color:#FFFFFF">&nbsp;&nbsp;The Board of Directors of Parent may amend this Agreement at any time before the Effective Date, provided, however, that an amendment made subsequent to the approval of the Merger by the stockholders of Parent shall not (a)&nbsp;alter or change the amount or kind of shares to be received in exchange for or on conversion of all or any of the shares of Parent Stock, (b)&nbsp;alter or change any term of the certificate of incorporation of Subsidiary, except to cure any ambiguity, defect or inconsistency or (c)&nbsp;alter or change any of the terms and conditions of this Agreement if such alteration or change would adversely affect the holders of Parent Stock. </FONT></P>
<P style="margin:0px; font-size:12pt">&nbsp;</P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>ARTICLE&nbsp;5</B></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>MISCELLANEOUS</B></FONT></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">5.1&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Termination</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;This Agreement may be terminated and the Merger abandoned at any time before the filing of this Agreement with the Secretary of State of Nevada and the Secretary of State of Delaware, whether before or after stockholder approval of this Agreement, by the consent of the Boards of Directors of Parent and Subsidiary. </FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">5.2&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Captions and Section&nbsp;Headings</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;As used herein, captions and section headings are for convenience only and are not a part of this Agreement and shall not be used in construing&nbsp;it. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">5.3&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Entire Agreement</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;This Agreement and the other documents delivered pursuant hereto and thereto, or incorporated by reference herein, contain the entire agreement between the</FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=center>4</P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=justify>parties hereto concerning the transactions contemplated herein and supersede all prior agreements or understandings between the parties hereto relating to the subject matter hereof. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">5.4&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Counterparts</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;This Agreement may be executed in any number of counterparts, each of which shall be considered to be an original instrument. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">5.5&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Severability</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;If any one or more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected thereby. To the extent permitted by applicable law, each party waives any provision of law which renders any provision of this Agreement invalid, illegal or unenforceable in any respect. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">5.6&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Successors and Assigns</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">5.7&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>No Third Party Beneficiaries</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;This Agreement is not intended to confer upon any person other than the parties hereto any rights or remedies hereunder. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:7.2pt" align=justify>SECTION&nbsp;<FONT style="font-size:12pt">5.8&nbsp;&nbsp;</FONT><FONT style="font-size:12pt"><I><U>Governing Law</U></I></FONT><FONT style="font-size:12pt"><I>.</I></FONT><FONT style="font-size:12pt">&nbsp;&nbsp;This Agreement shall be construed in accordance with the laws of Delaware, except to the extent the laws of Nevada shall apply to the Merger where mandated by the NRS. </FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>[</FONT><FONT style="background-color:#FFFFFF"><I>Signature page follows</I></FONT><FONT style="background-color:#FFFFFF">]</B></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF">5</FONT></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:32.667px; font-size:12pt"><FONT style="background-color:#FFFFFF"><B>IN WITNESS WHEREOF, </B></FONT><FONT style="background-color:#FFFFFF">Parent and Subsidiary have duly executed this Agreement as of the date first written above. </FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt"><FONT style="background-color:#FFFFFF"><B>Parent:<BR>
Technest Holdings, Inc.<BR>
a Nevada corporation</B></FONT><FONT style="background-color:#FFFFFF"> </FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD width=241.6 /><TD /></TR>
<TR><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=top width=241.6><P style="margin:0px; font-size:12pt"><B>/s/Shekhar G. Wadekar</B></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=241.6><P style="margin:0px; font-size:12pt"><B>Name: Sheker G. Wadekar </B></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=241.6><P style="margin:0px; font-size:12pt"><B>Tile: Chief Executive Officer</B></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt"><FONT style="background-color:#FFFFFF"><B>Subsidiary:<BR>
AccelPath, Inc.<BR>
a Delaware corporation</B></FONT><FONT style="background-color:#FFFFFF"> </FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD width=241.6 /><TD /></TR>
<TR><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=top width=241.6><P style="margin:0px; font-size:12pt"><B>/s/Shekhar G. Wadekar</B></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=241.6><P style="margin:0px; font-size:12pt"><B>Name: Sheker G. Wadekar </B></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=241.6><P style="margin:0px; font-size:12pt"><B>Tile: Chief Executive Officer</B></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=center>6</P>
<P style="margin:0px" align=center><BR>
<BR></P>
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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>3
<FILENAME>tn_ex3z1.htm
<DESCRIPTION>CERTIFICATE OF INCORPORATION OF ACCELPATH, INC.
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>STATE OF DELAWARE</TITLE>
<META NAME="author" CONTENT="Lawrence Metelitsa">
<META NAME="date" CONTENT="05/04/2012">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:720px"><P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>STATE OF DELAWARE</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>CERTIFICATE OF INCORPORATION</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>A STOCK CORPORATION</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE I</P>
<P style="margin:0px; font-size:11pt" align=center>NAME</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt">The name of the Corporation is AccelPath, Inc.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE II</P>
<P style="margin:0px; font-size:11pt" align=center>REGISTERED AGENT</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt">The Corporations registered office in the State of Delaware is to be located at 1811 Silverside Road, Wilmington, Delaware 19810, New Castle County. &nbsp;The registered agent in charge thereof is VCorp Services, LLC.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE III</P>
<P style="margin:0px; font-size:11pt" align=center>PURPOSE</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt">The purpose of the corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of Delaware.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE IV</P>
<P style="margin:0px; font-size:11pt" align=center>CAPITAL STOCK</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>SECTION 1. The total number of shares of all classes of stock which the Corporation shall have authority to issue is 500,000,000 shares, of which 495,000,000 shares of a par value of $0.001 per share shall be designated &quot;Common Shares&quot; and 5,000,000 shares of a par value of $.001 per share shall be designated &quot;Preferred Shares.&quot;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>SECTION 2. The Board of Directors is authorized, from time to time, to issue the Preferred Shares as Preferred Shares of any series and, in connection with the creation of each such series, to fix by resolution or resolutions providing for the issue of such shares thereof, the number of shares of such series, and the powers, designations, privileges, preferences, limitations, restrictions, price and relative rights of such series, to the full extent now or hereafter permitted by the laws of the State of Delaware.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE V</P>
<P style="margin:0px; font-size:11pt" align=center>BOARD OF DIRECTORS</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>The Board of the Corporation shall consist of at least one (1) director.&nbsp;&nbsp;Each director (if more than one) shall serve until the first meeting of the stockholders of the Corporation, or until such director&#146;s successors are elected and qualified.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE VI</P>
<P style="margin:0px; font-size:11pt" align=center>BY-LAWS</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>In furtherance and not in limitation of the powers conferred by the laws of the State of Delaware, the Board is expressly authorized to adopt, amend or repeal the By-laws of the Corporation.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE VII</P>
<P style="margin:0px; font-size:11pt" align=center>PERPETUAL EXISTENCE</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">The Corporation shall have perpetual existence.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE VIII</P>
<P style="margin:0px; font-size:11pt" align=center>AMENDMENTS AND REPEAL</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>Except as otherwise specifically provided in this Certificate of Incorporation, the Corporation reserves the right at any time, and from time to time, to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, and to add or insert other provisions authorized at such time by the laws of the State of Delaware, in the manner now or hereafter prescribed by law, and all rights, preferences and privileges of whatsoever nature conferred upon stockholders, directors or any other persons whomsoever by and pursuant to this Certificate of Incorporation in its present form or as hereafter amended are granted subject to the rights reserved in this Article VIII.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE IX</P>
<P style="margin:0px; font-size:11pt" align=center>LIMITATION OF LIABILITY</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>No director of the Corporation shall be liable to the Corporation or its stockholders for monetary damages for breach of his or her fiduciary duty as director; <I>provided, however</I>, that nothing contained in this Article IX shall eliminate or limit the liability of a director for any breach of the director's duty of loyalty to the Corporation or its stockholders, for acts or omissions not in good faith or which involve intentional misconduct, a knowing violation of the law, under Section 174 of the DGCL or any successor provision, or for any transaction from which the director derived improper personal benefit.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>If the laws of the State of Delaware are hereafter amended to authorize the further elimination or limitation of the liability of directors, then the liability of the directors of the Corporation, in addition to the limitation on personal liability provided herein, shall be limited to the fullest extent permitted by said laws. Any repeal or modification of this Article IX by the stockholders of the Corporation shall be prospective only, and shall not adversely affect any limitation on the personal liability of directors of the Corporation existing at the time of such repeal or modification.&nbsp;&nbsp;This provision shall not affect any provision permitted under the DGCL, in this Amended and Restated Certificate, or in the By-laws or any contract or resolution of the Corporation indemnifying or agreeing to indemnify a member of the Board against personal liability.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE X</P>
<P style="margin:0px; font-size:11pt" align=center>DELAWARE SECTION 203</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt">The Corporation expressly elects not to be governed by the Delaware General Corporation Law &#167; 203.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-size:11pt" align=center>ARTICLE XI</P>
<P style="margin:0px; font-size:11pt" align=center>INCORPORATOR</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt">The name and mailing address of the incorporator are as follows:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">Name: Suzette O&#146;Connor</P>
<P style="margin:0px; font-size:11pt">Mailing Address: 352A Christopher Avenue, Gaithersburg, MD 20879</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">I, the Undersigned, the for the purpose of forming a corporation under the laws of the State of Delaware, do make, file and record this Certificate, and do certify that they facts herein stated are true, and I have accordingly hereunto set my hand this 9th day of February, A.D. 2012</P>
<P style="margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD width=31.8 /><TD width=225.533 /><TD /></TR>
<TR><TD style="margin-top:0px" valign=top width=31.8><P style="margin:0px; font-size:11pt">By:</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=225.533><P style="margin:0px; font-size:11pt">/s/ Suzette Rodriguez O&#146;Connor</P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px; font-size:11pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px; font-size:11pt">Incorporator</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">Name: Suzette Rodriguez O'Connor</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
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<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>4
<FILENAME>tn_ex3z2.htm
<DESCRIPTION>BYLAWS OF ACCELPATH, INC.
<TEXT>
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<META name=author content="Lawrence Metelitsa">
<META name=date content=05/04/2012>
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<BODY
style="MARGIN-TOP: 0px; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt">
<P style="MARGIN: 0px"><BR></P>
<DIV style="WIDTH: 720px">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 13px; FONT-SIZE: 12pt"
align=center><B>BYLAWS OF</B></P>
<P style="MARGIN: 0px" align=center><B>ACCELPATH, INC.</B></P>
<P style="MARGIN: 0px" align=center><B>(A DELAWARE CORPORATION)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE I</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>OFFICES</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 1.1 &nbsp;REGISTERED OFFICE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The registered office of
AccelPath, Inc. (the "Corporation") in the State of Delaware shall be located at
the principal place of business in that state of the corporation or individual
acting as the Corporation's registered agent in the State of Delaware.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 1.2 &nbsp;PRINCIPAL EXECUTIVE OFFICE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The principal executive
office of the corporation for the transaction of the business of the Corporation
shall be at 352A Christopher Avenue, Gaithersburg, MD 20897 or such other place
as may be established by the Board of Directors of the Corporation (the
"Board"). The Board is granted full power and authority to change said principal
executive office from one location to another.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 1.3 &nbsp;OTHER OFFICES</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Corporation may have
other offices, either within or without the State of Delaware, at such place or
places as the Board from time to time may designate or the business of the
Corporation may require.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; PADDING-LEFT: 48px" align=center><B><U>ARTICLE
II</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px; PADDING-LEFT: 48px" align=center><B><U>MEETING OF
STOCKHOLDERS</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 2.1 &nbsp;TIME </B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px; FONT-FAMILY: Times New Roman"
align=justify>The annual meeting of stockholders of the Corporation shall be
held on such date and at such time, either within or without the State of
Delaware, as shall be designated by the Board and stated in the written notice
of the meeting or in a duly executed written waiver of notice of the
meeting.</FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 2.2 &nbsp;PLACE</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Annual meetings and
special meetings may be held at such place, either within or without the State
of Delaware, as the directors may, from time to time, fix. Whenever the
directors shall fail to fix such place, the meeting shall be held at the
registered office of the corporation in the State of Delaware. The board of
directors may also, in its sole discretion, determine that the meeting shall not
be held at any place, but may instead be held solely by means of remote
communication as authorized by Section 211(a)(2) of the Delaware General
Corporation Law. If a meeting by remote communication is authorized by the board
of directors in its sole discretion, and subject to guidelines and procedures as
the board of directors may adopt, stockholders and proxyholders not physically
present at a meeting of stockholders may, by means of remote communication
participate in a meeting of stockholders and be deemed present in person and
vote at a meeting of stockholders whether such meeting is to be held at a
designated place or solely by means of remote communication, provided that (a)
the corporation shall implement reasonable measures to verify that each person
deemed present and permitted to vote at the meeting by means of remote
communication is a stockholder or proxyholder, (b) the corporation shall
implement reasonable measures to provide such stockholders and proxyholders a
reasonable opportunity to participate in the meeting and to vote on matters
submitted to the stockholders, including an opportunity to read or hear the
proceedings of the meeting </P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>1</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>substantially concurrently with such
proceedings, and (c) if any stockholder or proxyholder votes or takes other
action at the meeting by means of remote communication, a record of such vote or
other action shall be maintained by the corporation.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 2.3 &nbsp;CALL</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Annual meetings and special meetings may be called by the
directors or by any officer instructed by the directors to call the meeting.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 2.4 &nbsp;NOTICE OF MEETINGS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Written notice of all
meetings shall be given, which shall state the place, if any, date, and hour of
the meeting, the means of remote communication, if any, by which stockholders
and proxyholders may be deemed to be present in person and vote at such meeting,
and in the case of a special meeting, the purpose or purposes for which the
meeting is called. The notice of an annual meeting shall state that the meeting
is called for the election of directors and for the transaction of other
business which may properly come before the meeting, and shall (if any other
action which could be taken at a special meeting is to be taken at such annual
meeting) state the purpose or purposes. The notice of any meeting shall also
include, or be accompanied by, any additional statements, information, or
documents prescribed by the General Corporation Law. Except as otherwise
provided by the General Corporation Law, the written notice of any meeting shall
be given not less than ten days nor more than sixty days before the date of the
meeting to each stockholder entitled to vote at such meeting. If mailed, notice
is given when deposited in the United States mail, postage prepaid, directed to
the stockholder at such stockholders address as it appears on the records of the
corporation. If a meeting is adjourned to another time or place, notice need not
be given of the adjourned meeting if the time, place, if any, thereof, and the
means of remote communications, if any, by which stockholders and proxyholders
may be deemed to be present in person and vote at such adjourned meeting are
announced at the meeting at which the adjournment is taken. At the adjourned
meeting the corporation may transact any business which might have been
transacted at the original meeting. If the adjournment is for more than 30 days,
or if after the adjournment a new record date is fixed for the adjourned
meeting, a notice of the adjourned meeting shall be given to each stockholder of
record entitled to vote at the meeting. Whenever notice is required to be given
under the Delaware General Corporation Law, certificate of incorporation or
Bylaws, a written waiver signed by the person entitled to notice, or a waiver by
electronic transmission by the person entitled to notice, whether before or
after the time stated therein, shall be deemed equivalent to notice. Attendance
of a stockholder at a meeting of stockholders shall constitute a waiver of
notice of such meeting, except when the stockholder attends the meeting for the
express purpose of objecting, at the beginning of the meeting, to the
transaction of any business because the meeting is not lawfully called or
convened. Neither the business to be transacted at, nor the purpose of, any
regular or special meeting of the stockholders need be specified in any written
waiver of notice or any waiver by electronic transmission unless so required by
the certificate of incorporation or these bylaws.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 2.5 &nbsp;STOCKHOLDER LIST</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The officer who has
charge of the stock ledger of the corporation shall prepare and make, at least
ten days before every meeting of stockholders, a complete list of the
stockholders entitled to vote at the meeting, arranged in alphabetical order,
and showing the address of each stockholder and the number of shares registered
in the name of each stockholder.&nbsp;&nbsp;Such list shall be open to the
examination of any stockholder, for any purpose germane to the meeting for a
period of at least ten days prior to the meeting on a reasonably accessible
electronic network, provided that the information required to gain access to
such list is provided with the notice of the meeting or during ordinary business
hours at the principal place of business of the corporation. In the event that
the corporation determines to make the list available on an electronic network,
the corporation may take reasonable steps to ensure that such information is
available only to stockholders of the corporation. If the meeting is to be held
at a place, then the list shall be produced and kept at the time and place of
the meeting during the whole time thereof, and may be inspected by any
stockholder who is present. If the meeting is to be held solely by means of
remote communication, then the list shall also be open to the examination of any
stockholder during the whole time of the meeting on a reasonably accessible
electronic network, and the information required to access</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>2</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>such list shall be provided with the notice
of the meeting.&nbsp;&nbsp;The stock ledger shall be the only evidence as to who
are the stockholders entitled to examine the stock ledger, the list required by
this section or the books of the corporation, or to vote in person or by proxy
at any meeting of stockholders.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 2.6 &nbsp;VOTING RIGHTS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>In order that the
Corporation may determine the stockholders entitled to notice of, and to vote
at, a meeting of stockholders or at any adjournment(s) thereof or to express
consent or dissent to corporate action in writing without a meeting, the Board
may fix a record date in the manner prescribed by Section 9.1 of these Bylaws.
&nbsp;Each stockholder entitled to vote at a meeting of stockholders or to
express consent or dissent to corporate action in writing without a meeting may
authorize another person or persons to act for such stockholder by proxy in the
manner prescribed by Section 2.7 of these Bylaws. &nbsp;Except as specifically
provided otherwise by Delaware General Corporation Law, the Certificate of
Incorporation, as amended, or these Bylaws, each holder of capital stock
entitled to vote at a meeting of stockholders or to express consent or dissent
to corporate action in writing without a meeting shall be entitled to one vote
for each share of such stock registered in such stockholder's name on the books
and records of the Corporation as of the record date.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 2.7 &nbsp;PROXIES</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Each stockholder
entitled to vote at a meeting of stockholders or to express consent or dissent
to corporate action in writing without a meeting may authorize another person or
persons to act for such stockholder by proxy, but no such proxy shall be voted
or acted upon after 3 years from its date, unless the proxy provides for a
longer period. A stockholder may execute a writing authorizing another person or
persons to act for such stockholder as proxy. Execution may be accomplished by
the stockholder or such stockholders authorized officer, director, employee or
agent signing such writing or causing such persons signature to be affixed to
such writing by any reasonable means including, but not limited to, by facsimile
signature. A stockholder may also authorize another person or persons to act for
such stockholder as proxy by transmitting or authorizing the transmission of a
telegram, cablegram, or other means of electronic transmission to the person who
will be the holder of the proxy or to a proxy solicitation firm, proxy support
service organization or like agent duly authorized by the person who will be the
holder of the proxy to receive such transmission, provided that any such
telegram, cablegram or other means of electronic transmission must either set
forth or be submitted with information from which it can be determined that the
telegram, cablegram or other electronic transmission was authorized by the
stockholder. If it is determined that such telegrams, cablegrams or other
electronic transmissions are valid, the inspectors or, if there are no
inspectors, such other persons making the determination shall specify the
information upon which they relied. Any copy, facsimile telecommunication or
other reliable reproduction of the writing or transmission created pursuant to
Section 212(c) of the Delaware General Corporation Law may be substituted or
used in lieu of the original writing or transmission for any and all purposes
for which the original writing or transmission could be used, provided that such
copy, facsimile telecommunication or other reproduction shall be a complete
reproduction of the entire original writing or transmission. A duly executed
proxy shall be irrevocable if it states that it is irrevocable and, if, and only
as long as, it is coupled with an interest sufficient in law to support an
irrevocable power. A proxy may be made irrevocable regardless of whether the
interest with which it is coupled is an interest in the stock itself or an
interest in the corporation generally.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 2.8 &nbsp;QUORUM AND ADJOURNMENT(S) OF
MEETINGS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Except as specifically
provided otherwise by Delaware General Corporation Law, the Certificate of
Incorporation, as amended, or these Bylaws, a majority of the stock issued and
outstanding and entitled to vote, present in person or represented by proxy,
shall constitute a quorum for the transaction of business at a meeting of
stockholders. If such majority shall not be present in person or represented by
proxy at a meeting of stockholders, the stockholders entitled to vote thereat,
present in person or represented by proxy, shall have the power to adjourn the
meeting from time to time until holders of the requisite number of shares of
stock entitled to vote at the meeting shall be present in person or represented
by proxy. When a meeting of stockholders is adjourned to another place, date or
time, notice need not be</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>3</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>given of the adjourned meeting if the
place, date, and time of such adjourned meeting are announced at the meeting at
which the adjournment is taken. At any such adjourned meeting at which a quorum
shall be present in person or represented by proxy, stockholders may transact
any business that might have been transacted at the meeting as originally
noticed, but only those stockholders entitled to vote at the meeting as
originally noticed shall be entitled to vote at any adjournment(s) thereof. If
the adjournment is for more than thirty (30) days, or if after the adjournment a
new record date is fixed for the adjourned meeting, a notice of the adjourned
meeting shall be given to each stockholder of record entitled to vote at the
meeting. Stockholders may participate in a meeting by means of a telephone
conference call or similar method of communication by which all persons
participating in the meeting can hear each other.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 2.9 &nbsp;REQUIRED VOTE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Except as specifically
provided otherwise by Delaware General Corporation Law, the Certificate of
Incorporation, as amended, or these Bylaws, the affirmative vote of the holders
of a majority of the stock having voting power present in person or represented
by proxy at a meeting of stockholders at which a quorum is present and entitled
to vote on the subject matter (including, but not limited to, the election of
directors to the Board) shall be the act of the stockholders with respect to the
matter voted upon.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 2.10 &nbsp;ACTION WITHOUT MEETING</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Except as any provision
of the General Corporation Law may otherwise require, any action required by the
General Corporation Law to be taken at any annual or special meeting of
stockholders, or any action which may be taken at any annual or special meeting
of stockholders, may be taken without a meeting, without prior notice and
without a vote, if a consent in writing, setting forth the action so taken,
shall be signed by the holders of outstanding stock having not less than the
minimum number of votes that would be necessary to authorize or take such action
at a meeting at which all shares entitled to vote thereon were present and
voted. A telegram, cablegram or other electronic transmission consenting to an
action to be taken and transmitted by a stockholder or proxyholder, or by a
person or persons authorized to act for a stockholder or proxyholder, shall be
deemed to be written, signed and dated for the purposes of this section,
provided that any such telegram, cablegram or other electronic transmission sets
forth or is delivered with information from which the corporation can determine
that the telegram, cablegram or other electronic transmission was transmitted by
the stockholder or proxyholder or by a person or persons authorized to act for
the stockholder or proxyholder and the date on which such stockholder or
proxyholder or authorized person or persons transmitted such telegram, cablegram
or electronic transmission. The date on which such telegram, cablegram or
electronic transmission is transmitted shall be deemed to be the date on which
such consent was signed. No consent given by telegram, cablegram or other
electronic transmission shall be deemed to have been delivered until such
consent is reproduced in paper form and until such paper shall be delivered to
the corporation by delivery to its principal place of business or an officer or
agent of the corporation having custody of the book in which the proceedings of
meetings of stockholders are recorded, to the extent and in the manner provided
by resolution of the board of directors of the corporation. Any copy, facsimile
or other reliable reproduction of a consent in writing may be substituted or
used in lieu of the original writing for any and all purposes for which the
original writing could be used, provided that such copy, facsimile or other
reproduction shall be a complete reproduction of the entire original
writing.&nbsp;&nbsp;Prompt notice of the taking of the corporate action without
a meeting by less than unanimous written consent shall be given to those
stockholders who have not consented in writing. Action taken pursuant to this
paragraph shall be subject to the provisions of Section 228 of the General
Corporation Law.</P>
<P style="MARGIN: 0px; FONT-SIZE: 12pt" align=justify>&nbsp;</P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE III</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>DIRECTORS</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 3.1 &nbsp;BOARD OF DIRECTORS</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The business and affairs
of the corporation shall be managed by or under the direction of the Board of
Directors of the corporation. The Board of Directors shall have the authority to
fix the</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>4</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>compensation of the members thereof. The
use of the phrase "whole board" herein refers to the total number of directors
which the corporation would have if there were no vacancies.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 3.2 &nbsp;NUMBER, ELECTION AND TENURE</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The number of directors
which shall constitute the whole Board shall be fixed from time to time by the
resolution of the Board. Except as otherwise provided by law, in no event shall
the total number of directors which shall constitute the whole Board be fixed by
the Board at less than three (3) or more than seven (7). Except as provided
otherwise in these Bylaws, directors shall be elected at the annual meeting of
stockholders. Each director shall hold office until the annual meeting of
stockholders next succeeding his or her election or appointment and until his or
her successor is elected and qualified or until his or her earlier resignation
or removal.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 3.3 &nbsp;RESIGNATION AND REMOVAL</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Any director or member
of a committee of the Board may resign at any time upon written notice to the
Board, the Chairman of the Board, or the President. &nbsp;Unless specified
otherwise in the notice, such resignation shall take effect upon receipt of the
notice by the Board, the Chairman of the Board, or the President. The acceptance
of a resignation shall not be necessary to make it effective. Any director may
be removed, either with or without cause by the affirmative vote of the holders
of at least two-thirds of the shares then entitled to vote.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 3.4 &nbsp;VACANCIES AND NEWLY CREATED
DIRECTORSHIPS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Vacancies occurring for
any reason and newly-created directorships resulting from an increase in the
authorized number of directors which shall constitute the whole Board, as fixed
pursuant to Section 3.2 of these Bylaws, shall be filled by the election of a
new director or directors by a majority of the remaining members of the Board,
although such majority is less than a quorum. Any director so chosen shall hold
office until the annual meeting of stockholders next succeeding his or her
election or appointment and until his or her successor shall be elected and
qualified, or until his or her earlier resignation or removal.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 3.5 &nbsp;FEES AND COMPENSATION.</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Directors and members of
any committees of the Board may receive such compensation, if any, for their
services, and such reimbursement for expenses, as may be fixed or determined by
the Board.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE IV</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>MEETINGS OF THE BOARD OF
DIRECTORS</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 4.1 &nbsp;DATE, TIME AND PLACE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Meetings of the Board
shall be held on such date and at such time and place, either within or without
the state of Delaware, as shall be determined by the Board pursuant to these
Bylaws.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 4.2 &nbsp;ANNUAL MEETINGS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>After the annual meeting
of stockholders, the newly-elected Board may hold a meeting, on such date and at
such time and place as shall be determined by the Board, for the purpose of
organization, election of officers and such other business that may properly
come before the meeting. Such meeting may be held without notice.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 4.3 &nbsp;REGULAR MEETINGS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center>5</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Regular meetings of the
Board may be held without notice on such date and at such time and place as
shall be determined from time to time by the Board.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 4.4 &nbsp;SPECIAL MEETINGS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Special meetings of the
Board may be held at any time upon the call of any director, the President or
the Secretary by means of oral, telephonic, written facsimile or other similar
notice, duly given, delivered, sent or mailed to each director at least 48 hours
prior to the special meeting, in the manner prescribed by Section 6.1 of these
Bylaws. Special meetings of the Board may be held at any time without notice if
all of the directors are present or if those directors not present waive notice
of the meeting in writing either before or after the date of the meeting.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 4.5 &nbsp;QUORUM</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>A majority of the whole
Board as fixed pursuant to Section 3.2 of these Bylaws shall constitute a quorum
for the transaction of business at a meeting of the Board. If a quorum shall not
be present at a meeting of the Board, the directors present thereat may adjourn
the meeting from time to time, without notice other than announcement at the
meeting, until a quorum shall be present.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 4.6 &nbsp;REQUIRED VOTED</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Except as specifically
provided otherwise by Delaware General Corporation Law, the affirmative vote of
a majority of the directors present at a meeting of the Board at which a quorum
is present shall be the act of the Board with respect to the matter voted
upon.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 4.7 &nbsp;ACTION WITHOUT MEETING</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Any action required or
permitted to be taken at any meeting of the Board of Directors or any committee
thereof may be taken without a meeting if all members of the Board or committee,
as the case may be, consent thereto in writing or electronic transmission, and
the writing or writings or electronic transmission or transmissions are filed
with the minutes of proceedings of the Board or committee. Such filing shall be
in paper form if the minutes are maintained in paper form and shall be in
electronic form if the minutes are maintained in electronic form.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 4.8 &nbsp;TELEPHONE MEETING</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Members of the Board, or
any committee thereof, may participate in a meeting of the Board, or committee
thereof, by means of a telephone conference or similar method of communication
by which all of the members participating in the meeting can hear each other.
Participation by members of the Board, or committee thereof, by such means shall
constitute presence in person of such members at such meeting.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE V</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>COMMITTEES OF THE BOARD OF
DIRECTORS</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 5.1 &nbsp;DESIGNATION AND POWERS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=justify>The Board may designate one or more
committees from time to time in its discretion, by resolution passed by the
affirmative vote of a majority of the whole Board as fixed pursuant to Section
3.2 of these Bylaws. Each committee shall consist of one or more of the
directors on the Board and the Board may appoint other persons who are not
directors to serve on committees. The Board may designate one or more directors
as alternate members on any committee who replace any absent or disqualified
member at any meeting of the committee. In the absence or disqualification of a
member of a committee, the member or members constitute a quorum and may
unanimously appoint another member of the Board to act at the meeting in the
place of any such absent or disqualified member. Any such committee, to the
extent provided in the resolution of the Board, shall have and may exercise all
of the powers and authority of the Board in the</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>6</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>management of the business and affairs of
the corporation and may authorize the corporate seal of the Corporation affixed
to all papers which may require it; but no such committee shall have the power
or authority in reference to amending the Certificate of Incorporation or these
bylaws, adopting an agreement of merger or consolidation, recommending to
stockholders the sale, lease, or exchange of all or substantially all of the
Corporation's assets, or recommending to stockholders a dissolution of the
Corporation, a revocation of a dissolution or the filing of a petition in
bankruptcy; and, unless the resolution of the Board expressly so provides, no
such committee shall have the power or authority to declare a dividend or to
authorize the issuance of stock of the corporation or any class or series of
stock. Each committee shall keep regular minutes of its meetings and shall
report the same to the Board when requested to do so.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE VI</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>NOTICES</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 6.1 &nbsp;DELIVERY OF NOTICE</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Notices to stockholders
and, except as permitted below, to directors on the board shall be in writing
and may be delivered by mail or messenger. Notice by mail shall be deemed to be
given at the time when such notice is deposited in a United States post office
or letter box, enclosed in postpaid sealed wrapper, and addressed to a
stockholder or director at his or her respective address appearing on the books
and records of the Corporation, unless such stockholder or director shall have
filed with the Secretary a written request that notices intended for such
stockholder or director be mailed or delivered to some other address, in which
case the notice shall be mailed to or delivered to the address designated in
such request. Notice by messenger shall be deemed to be given when such notice
is delivered to the address of a stockholder or director as specified above.
Notices to directors also may be given orally, in person or by telephone, or by
telex, overnight courier or facsimile transmission (promptly confirmed in
writing) or other similar means, or by leaving the notice at the residence or
usual place of business of a director. Notice by oral communication, telex,
overnight courier or facsimile transmission (properly confirmed in writing) or
other similar means shall be deemed to be given upon such dispatch of such
notice. Notice by messenger shall be deemed to be given when such notice is
delivered to a director's residence or usual place of business. Notices,
requests, and other communications required or permitted to be given or
communication to the Corporation by the Certificate of Incorporation, as
amended, these Bylaws or any other agreement shall be in writing and may be
delivered by messenger, United States mail, telex, overnight courier or
facsimile transmission (promptly confirmed in writing) or other similar means.
Notice to the Corporation shall be deemed to be given upon actual receipt of
such notice by the Corporation.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 6.2 &nbsp;WAIVER OF NOTICE</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Whenever notice is
required to be given by the Delaware General Corporation Law, the Certificate of
Incorporation, as amended, or these Bylaws, a written waiver of notice signed by
the person entitled thereto, whether before or after the time stated in the
notice, shall be deemed equivalent to notice. Attendance of a person at a
meeting shall constitute a waiver of notice of such meeting, except when a
person attends the meeting for the express purpose of objecting, at the
beginning of the meeting, to the transaction of any business because the meeting
is not lawfully called or convened. Neither the business to be transacted at, or
the purpose of, any regular or special meeting of stockholders, the Board, or a
committee of the Board need be specified in any written waiver of notice.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE VII</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>OFFICERS</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.1 &nbsp;OFFICERS</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The officers of the
Corporation shall be a President, a Secretary and a Treasurer. At its annual
meeting, or such other meeting as it may determine, or by unanimous written
consent of the directors</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>7</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>without meeting, the Board shall elect a
President of the Corporation, and the President so elected shall appoint a
Secretary and a Treasurer. The Chairman of the Board, if any, shall be selected
from among the directors on the Board, but no other executive officer need be a
member of the Board. Any number of offices may be held by the same person.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.2 &nbsp;OTHER OFFICERS AND AGENTS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The President also may
appoint such other officers and agents as he or she from time to time may
determine to be advisable and as the business of the Corporation may require;
provided, however, the Company shall not enter into any employment agreement
without the prior approval of the Board. Such officers and agents shall serve
for such terms, exercise such powers, and perform such duties as are prescribed
by these Bylaws.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 7.3 &nbsp;TENURE, RESIGNATION, REMOVAL AND
VACANCIES</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Each officer of the
Corporation shall hold his office until his or her successor is elected and
qualified or appointed in accordance with these Bylaws, or until his or her
earlier resignation or removal. Any officer elected by the Board may be removed
at any time, with or without cause, by the Board and any officer appointed by
the President may be removed at any time, with or without cause, by the
President and the Board; provided, that any such removal shall be without
prejudice to the rights, if any, of the officer so employed under any employment
contract or other agreement with the Corporation. Any officer may resign at any
time upon written notice to the Board, the Chairman of the Board or the
President. Unless specified otherwise in the notice, such resignation shall take
effect upon receipt of the notice by the Board, the Chairman of the Board or the
President. The acceptance of the resignation shall not be necessary to make it
effective. Any vacancy occurring in any office of the Corporation by death,
resignation, removal or otherwise shall be filled by the President and such
successor or successors shall hold office for such term as may be specified by
the President.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.4 &nbsp;AUTHORITY AND DUTIES</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>All officers and agents,
as between themselves and the Corporation, shall have such authority and perform
such duties in the management of the Corporation as may be provided in these
Bylaws and as generally pertain or are necessarily incidental to the particular
office or agency. In addition to the powers and duties hereinafter specifically
prescribed for certain officers of the Corporation, the Board or the President
from time to time may impose or confer any or all duties and powers hereinafter
specifically prescribed for any officer upon any other officer or officers. The
Board may give general authority to any officer to affix the corporate seal of
the Corporation and to attest the affixing by his or her signature.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.5 &nbsp;THE CHAIRMAN OF THE BOARD</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>If the Board shall
designate a Chairman of the Board, such Chairman of the Board shall act as
chairman at all meetings of the stockholders at which he is present and shall
preside at all meetings of the Board at which he is present. &nbsp;Such Chairman
of the Board shall provide general leadership in matters of policy and long-term
programs and shall have the right to delegate authority to the other officers of
the Corporation. Except when by law the signature of the President is required,
such Chairman of the Board shall possess the same power as the President to sign
all certificates, contracts and other instruments of the Corporation which may
be authorized by the Board.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.6 &nbsp;THE PRESIDENT</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The president, subject
to the control of the Board, shall have general and active supervision of the
business and affairs of the Corporation, shall sign certificates, contracts and
other instruments of the Corporation as authorized, and shall perform all such
other duties as are properly required of him by the Board.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.7 &nbsp;THE VICE PRESIDENT(S)</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>8</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=justify><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Vice President, or
in the event there is more than one vice president, the Vice Presidents, shall
perform the duties and have the powers as may, from time to time, be assigned to
them by the Board or the President.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.8 &nbsp;THE TREASURER</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Treasurer shall have
the care and custody of all the funds of the Corporation and shall deposit the
same in such banks or other depositories as the Board, or any officer or
officers thereunder duly authorized by the Board, shall, from time to time,
direct or approve. He or she shall keep a full and accurate account of all
monies received and paid on account of the Corporation, and shall render a
statement of his or her accounts whenever the Board shall require. He shall
perform all other necessary acts and duties in connection with the
administration of the financial affairs of the Corporation, and shall generally
perform all the duties usually appertaining to the affairs of the treasurer of a
corporation. When required by the Board, he shall give bonds for the faithful
discharge of his duties in such sums and with such sureties as the Board shall
approve. In the absence of disability of the Treasurer, the person designated by
the President shall perform his duties.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.9 &nbsp;THE SECRETARY</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Secretary shall
attend to the giving of notice of all meetings of stockholders and of the Board
and committees thereof, and shall keep minutes of all proceedings at meetings of
the stockholders, of the Board and of all meetings of such other committees as
the Board shall designate. The Secretary shall have charge of the corporate seal
and shall have authority to attest any and all instruments or writings to which
the same may be affixed. He or she shall keep and account for all books,
documents, papers and records of the Corporation, except those for which some
other officer or agent is properly accountable. He or she shall generally
perform all the duties usually appertaining to the office of secretary of a
corporation. In the absence or disability of the Secretary, the person
designated by the President shall perform his or her duties.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 7.10 &nbsp;THE ASSISTANT
SECRETARY(IES)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Assistant Secretary,
if any be so appointed by the Board, or if there be more than one, the Assistant
Secretaries, shall perform such duties as may be specifically assigned to them
from time to time by the Board or the President. &nbsp;In case of the absence or
disability of the Secretary, and if the Board or the President has so
authorized, the Assistant Secretary, or if there be more than one Assistant
Secretary, such Assistant Secretaries as the Board or the President shall
designate, shall perform the duties of the office of the Secretary.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE VIII</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>CERTIFICATES OF STOCK</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 8.1 &nbsp;FORM AND SIGNATURE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The stock certificates
representing the stock of the Corporation shall be in such form or forms not
inconsistent with Delaware General Corporation Law, the Certificate of
Incorporation, as amended, and these Bylaws and as the Board shall approve from
time to time. Stock certificates shall be numbered consecutively and shall be
entered in the books and records of the Corporation as such certificates are
issued. No certificate shall be issued for any share until the consideration
therefor has been fully paid. Stock certificates shall exhibit the holder's
name, certify the class and series of stock and the number of shares in such
class and series of stock owned by the holder and shall be signed by the
President, Vice President, Treasurer, Secretary, or any Assistant Secretary.
&nbsp;Any or all of the signatures on a stock certificate may be facsimiles. In
case any officer, transfer agent, or registrar who has signed or whose facsimile
signature has been placed on a certificate shall have ceased to be such officer,
transfer agent or</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=center>9</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>registrar before such certificate is
issued, such certificate may be issued by the Corporation with the same effect
as if he or she were such officer, transfer agent or registrar on the date of
issuance.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 8.2 &nbsp;LOST, STOLEN OR DESTROYED
CERTIFICATES</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The President may direct
that a new stock certificate be issued in place of any certificate theretofore
issued by the Corporation which is alleged to have been lost, stolen, or
destroyed, upon the making of an affidavit of that fact by the person or his or
her legal representative claiming the certificate of stock to be lost, stolen or
destroyed. When authorizing such issuance of a new certificate, the President,
in his discretion and as a condition precedent to the issuance thereof, may
require the owner of the lost, stolen or destroyed certificate, or his or her
legal representative, to advertise the same in such manner as the President
shall require and/or to give the Corporation a bond in such sum as the President
shall direct as indemnity against any claim that may be made against the
Corporation, any transfer agent or any registrar on account of the alleged loss,
theft, or destruction of any such certificate or the issuance of such new
certificate.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 8.3 &nbsp;REGISTRATION OF TRANSFER</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Shares of common stock
of the Corporation shall be transferable only upon the transfer by the holders
thereof in person or by their duly authorized attorneys or legal
representatives, and upon such transfer the old certificates shall be
surrendered to the Corporation by the delivery thereof to the person in charge
of the stock and transfer books and ledgers of the Corporation or to such other
person as the Board may designate. Upon surrender to the Corporation of a
certificate for shares, duly endorsed or accompanied by proper evidence of
succession, assignment, or authority to transfer, the Corporation shall issue a
new certificate to the person entitled thereto, cancel the old certificate and
record the transaction on its books and records.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE IX</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>GENERAL PROVISIONS</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.1 &nbsp;RECORD DATE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>In order that the
Corporation may determine the stockholders entitled to notice of, and to vote
at, a meeting of stockholders, or to express consent or dissent to corporate
action in writing without a meeting, or entitled to receive payment of any
dividend or other distribution or allotment of any rights, or entitled to
exercise any rights in respect of any change, conversion, or exchange of stock,
or for the purpose of any other lawful action, the Board may fix, in advance, a
record date which shall not be more than sixty (60) nor less than ten (10) days
prior to the date of such meeting nor more than sixty (60) days prior to any
other action. &nbsp;A determination of stockholders of record entitled to notice
of, and to vote at, a meeting of stockholders shall apply to any adjournments(s)
of such meeting; provided however, that the Board may, in its discretion, and
shall if otherwise required by these Bylaws, fix a new record date for the
adjourned meeting.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><B>Section 9.2 &nbsp;REGISTERED STOCKHOLDERS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Except as specifically
provided otherwise by Delaware General Corporation Law, the Corporation shall be
entitled (i) to recognize the exclusive right of a person registered on its
books and records as the owner of shares of stock of the Corporation to receive
dividends and to vote as such owner, (ii) to hold such person liable for calls
and assessments and (iii) to recognize any equitable or other claim to, or
interest in, such stock on the part of any other person, whether or not the
Corporation shall have express or other notice thereof.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.3 &nbsp;DIVIDENDS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center>10</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Board shall have
discretion to declare and pay dividends ratably, share for share, on the
Corporation's capital stock in all sums so declared, out of funds legally
available therefore in accordance with Delaware General Corporation Law.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.4 &nbsp;DIVIDEND DECLARATIONS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Dividends on the capital
stock of the Corporation may be declared quarterly, semiannually or annually as
the Board may from time to time, in its discretion, determine.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.5 &nbsp;CHECKS AND NOTES</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>All checks and drafts on
the bank accounts of the Corporation, all bills of exchange and promissory notes
of the Corporation, and all acceptances, obligations, and other instruments for
the payment of money drawn, signed, or accepted by the Corporation shall be
signed or accepted, as the case may be, by such officer or officers, agent or
agents, and in such manner as shall be thereunto authorized from time to time by
the Board or by officers of the Corporation designated by the Board to make such
authorization.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.6 &nbsp;LOANS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>No loans shall be
contracted on behalf of the Corporation and no evidences of indebtedness shall
be issued in its name unless authorized by a resolution of the Board. Such
authority may be general or confined to specific instances. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.7 &nbsp;FISCAL YEAR</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Corporations fiscal
year end shall be June 30 of each year, unless otherwise fixed by resolutions of
the Board. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.8 &nbsp;CORPORATE SEAL</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Corporation may
adopt a corporate seal as authorized by the Board. The use of a seal or stamp by
the Corporation on any corporate documents is not necessary; such use or nonuse
shall not in any way affect the legality of the document.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.9 &nbsp;VOTING OF SECURITIES OF OTHER
ISSUERS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>In the event that the
Corporation shall own and/or have power to vote any securities (including, but
not limited to, shares of stock) of any other issuer, such securities shall be
voted by the President or by such other person or persons to such extent and in
such manner as may be determined by the Board. If the Corporation shall be a
general partner in any partnership, the acts of the Corporation in such capacity
may be approved by the Board and taken by the officers as may be authorized or
determined by the Board from time to time. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.10 &nbsp;TRANSFER AGENTS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>The Board may make such
rules and regulations as it may deem expedient concerning the issuance,
transfer, and registration of securities (including, but not limited to, stock)
of the Corporation. The Board may appoint one or more transfer agents and/or one
or more registrars and may require all stock certificates and other certificates
evidencing securities of the Corporation to bear the signature of either or
both.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 9.11 &nbsp;BOOKS AND RECORDS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center>11</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>Except as specifically
provided otherwise by Delaware General Corporation Law, the books and records of
the Corporation may be kept at such place or places, either within or without
the State of Delaware, as may be designated by the Board.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE X</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>INDEMNIFICATION</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 10.1 &nbsp;INDEMNIFICATION AND
INSURANCE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify><B>(a) <U>RIGHT TO
INDEMNIFICATION</U></B>. &nbsp;To the fullest extent permitted by Delaware
General Corporation Law, as the same exists or may hereafter be amended, the
Corporation shall indemnify and hold harmless each person who was or is made a
party or is threatened to be made a party to or is involved in any action, suit
or proceeding, whether civil, criminal, administrative or investigative
(hereinafter a "proceeding"), by reason of the fact that he or she, or a person
of whom he or she is the legal representative, is or was a director or officer
of the Corporation, or is or was serving at the request of the Corporation as a
director, officer, employee or agent for another corporation, partnership, joint
venture, trust or other enterprise, including service with respect to employee
benefit plans, whether the basis of such proceeding is alleged action in an
official capacity as a director, officer, employee or agent or in any other
capacity while serving as a director, officer, employee or agent, against all
costs, charges, expenses, liabilities and losses (including attorneys' fees,
judgments, fines, ERISA, excise taxes or penalties and amounts paid or to be
paid in settlement) reasonably incurred or suffered by such person in connection
therewith and such indemnification shall continue as to a person who has ceased
to be a director or officer of the Corporation or to a person who has ceased to
serve as a director, officer, employee or agent at the request of the
Corporation for another corporation, partnership, joint venture, trust or other
enterprise and shall inure to the benefit of his or her heirs, executors and
administrators. The right to indemnification conferred in this Section 10.1
shall be a contract right and shall include the right to be paid by the
Corporation the expenses incurred in defending any such proceeding in advance of
its final disposition; provided, however, that if Delaware General Corporation
Law requires the payment of such expenses incurred by a director or officer in
his or her capacity as a director or officer (and not in any other capacity in
which service was or is rendered by such person while a director or officer,
including, without limitation, service to an employee benefit plan) in advance
of the final disposition of a proceeding, payment of such expenses shall be made
only upon delivery to the Corporation of an undertaking, by or on behalf of such
director or officer, to repay all amounts so advanced if it shall ultimately be
determined that such director or officer is not entitled to be indemnified under
this Section 10.1 or otherwise. The rights set forth herein shall not be
exclusive of any other rights to which any director or officer may be entitled
as a matter of law. The Corporation may, by action of the Board, provide
indemnification to employees and agents of the Corporation with the same scope
and effect as the foregoing indemnification of directors and officers.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify><B>b) <U>RIGHT OF
CLAIMANT TO BRING SUIT</U></B>. &nbsp;If a claim under Section 10.1(a) of this
Article is not paid in full by the Corporation within thirty days after a
written claim has been received by the Corporation, the claimant may at any time
thereafter bring suit against the Corporation to recover the unpaid amount of
the claim and, if successful in whole or in part, the claimant shall be entitled
to be paid also the expense of prosecuting such claim. It shall be a defense to
any such action (other than an action brought to enforce a claim for expenses
incurred in defending any proceeding in advance of its final disposition where
the required undertaking, if any is required, has been tendered to the
Corporation) that the claimant has failed to meet a standard of conduct which
makes it permissible under Delaware General Corporation Law for the Corporation
to indemnify the claimant for the amount claimed, but the burden of proving such
defense shall be on the Corporation. Neither the failure of the Corporation
(including its Board, independent legal counsel, or its stockholders) to have
made a determination prior to the commencement of such action that
indemnification of the claimant is permissible in the circumstances because he
or she has met such standard of conduct, nor an actual determination by the
Corporation (including its Board, independent legal counsel, or its
stockholders) that the claimant has not met such standard of conduct, shall be a
defense to the action or create a presumption that the claimant has failed to
meet such standard of conduct.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center>12</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify><B>(c)
<U>NON-EXCLUSIVITY OF RIGHTS</U></B>. &nbsp;The right to indemnification and the
payment of expenses incurred in defending a proceeding in advance of its final
disposition conferred in this Section 10.1 shall not be exclusive of any other
right which any person may have or hereafter acquire under any statute,
provision of the Certificate of Incorporation, as amended, bylaw, agreement,
vote of stockholder or disinterested directors or otherwise.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify><B>(d)
<U>INSURANCE</U></B>. &nbsp;The Corporation may maintain insurance, at its
expense, to protect itself and any director, officer, employee or agent of the
Corporation or another corporation, partnership, joint venture, trust or other
enterprise against any such expense, liability or loss, whether or not the
Corporation would have the power to indemnify such person against such expense,
liability or loss under the Delaware General Corporation Law.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify><B>(e)
<U>WITNESS</U></B>. &nbsp;To the extent that any director, officer, employee or
agent of the Corporation or another corporation, partnership, joint venture,
trust or other enterprise is by reason of such position a witness in any action,
suit or proceeding, he or she shall be indemnified against all costs and
expenses actually and reasonably incurred by him or her on his or her behalf in
connection therewith.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify><B>(f) <U>INDEMNITY
AGREEMENTS</U></B>. &nbsp;The Corporation may enter into indemnity agreements
with the persons who are members of the Board from time to time, and with such
officers, employees and agents as the Board may designate, such indemnity
agreements to provide in substance that the Corporation will indemnify such
persons to the full extent contemplated by this Article.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><B><U>ARTICLE XI</U></B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><B><U>AMENDMENTS TO THESE BYLAWS</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Section 11.1 &nbsp;BY THE BOARD OF DIRECTORS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="TEXT-INDENT: 61px; MARGIN: 0px" align=justify>These Bylaws may be
amended or repealed in whole or in part and new Bylaws may be adopted by a
majority of the Board at any regular or special meeting of the Board, subject to
the Bylaws, if any, adopted by the stockholders.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Approved by the Board of Directors</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Date: February 10, 2012</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="MARGIN-TOP: 0px; FONT-SIZE: 10pt" cellSpacing=0 cellPadding=0>
  <TR style="FONT-SIZE: 0px">
    <TD width=37>
    <TD width=186>
    <TD width=492></TD>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=37>
      <P style="MARGIN: 0px">By:</P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px" vAlign=top
    width=186>
      <P
      style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 4px; MARGIN: 0px; PADDING-LEFT: 26px">/s/
      Shekhar Wadekar</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=492>
      <P
      style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=37>
      <P style="MARGIN: 0px">&nbsp;</P></TD>
    <TD style="MARGIN-TOP: 0px" vAlign=top width=679 colSpan=2>
      <P style="MARGIN: 0px; PADDING-LEFT: 26px">Chief Executive
  Officer</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-SIZE: 12pt" align=center>13</P>
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