Abstract: Classical Donaldson-Thomas theory performs the virtual count of stable coherent sheaves with a given Chern character \gamma on a smooth projective threefold. In particular, if \gamma = (1, 0, 0, -n) the moduli space of interest is the Hilbert scheme of points, and the DT invariants are defined via a zero-dimensional perfect obstruction theory on it. We extend this story by considering the Quot scheme parametrizing zero-dimensional quotients of a locally free sheaf. We construct an almost perfect obstruction theory (a weaker version of a POT defined by Kiem and Savvas) on this Quot scheme which gives rise to a virtual class in degree zero and allows one to define higher rank invariants. We explain the computation of these new invariants in the toric case and, if time permits, discuss how to obtain the formula also in the general case.