Network-1 Technologies, Inc. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>Network-1 Technologies, Inc. has filed its Q1 2024 10-Q report.</b>

AI Summary

NETWORK-1 TECHNOLOGIES, INC. (NTIP) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Network-1 Technologies, Inc. filed a 10-Q for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Network-1 Technologies, Inc. is incorporated in Delaware. The company's SIC code is 6794 for Patent Owners & Lessors.

Why It Matters

For investors and stakeholders tracking NETWORK-1 TECHNOLOGIES, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Network-1 Technologies, Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential risks and opportunities moving forward.

Risk Assessment

Risk Level: low — NETWORK-1 TECHNOLOGIES, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant financial distress or unusual events.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-10 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Fiscal Quarter)
• 2023-12-31 — Previous Year End Date (Fiscal Year End)

Key Players & Entities

• NETWORK-1 TECHNOLOGIES, INC. (company) — FILER
• 0001072613-24-000458 (filing_id) — ACCESSION NUMBER
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240510 (date) — FILED AS OF DATE
• 0001065078 (company_id) — CENTRAL INDEX KEY
• 6794 (sic_code) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (state) — STATE OF INCORPORATION
• 2039201055 (phone) — BUSINESS PHONE

FAQ

Industry Context

Network-1 Technologies operates within the patent ownership and licensing sector, focusing on intellectual property monetization.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for Q1 2024.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for qualitative insights.
3. Check for any new risk factors or updates to existing ones mentioned in the filing.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 10-K filing for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share NTIP NYSE American Indic
• $150,000 — as revenue and a conditional payment of $150,000 which has not been recognized as revenu

Filing Documents

• network1_10q-033124.htm (10-Q) — 693KB
• exh31-1_18832.htm (EX-31.1) — 11KB
• exh31-2_18832.htm (EX-31.2) — 10KB
• exh32-1_18832.htm (EX-32.1) — 6KB
• exh32-2_18832.htm (EX-32.2) — 5KB
• 0001072613-24-000458.txt (&nbsp;) — 3568KB
• nssi-20240331.xsd (EX-101.SCH) — 41KB
• nssi-20240331_cal.xml (EX-101.CAL) — 45KB
• nssi-20240331_def.xml (EX-101.DEF) — 71KB
• nssi-20240331_lab.xml (EX-101.LAB) — 242KB
• nssi-20240331_pre.xml (EX-101.PRE) — 190KB
• network1_10q-033124_htm.xml (XML) — 404KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26 PART II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 5. Other Information 28 Item 6. Exhibits 29

Signatures

Signatures 30 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The statements contained in this Quarterly Report on Form 10-Q that are not purely historical are forward-looking of 1934, as amended. Such forward-looking statements include any expectation of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; factors that may affect our operating results; statements related to future performance and other matters that do not relate strictly to historical facts or statements of assumptions underlying any of the foregoing. Forward-looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "will," "plan," "project," "seek," "should," "target," "would," and similar expressions or variations intended to identify forward-looking statements. These events to differ materially from future results expressed or implied by such forward-looking statements. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. Factors that could cause or contribute to such dif

BUSINESS

BUSINESS The Company is engaged in the development, licensing and protection of its intellectual property assets. The Company presently owns one-hundred two ( 102 ) U.S. patents, fifty-four ( 54 ) of such patents have expired, and fifteen ( 15 ) foreign patents related to (i) the Cox patent portfolio (the "Cox Patent Portfolio) relating to enabling technology for identifying media content on the Internet and taking further actions to be performed after such identification; (ii) the M2M/IoT patent portfolio (the "M2M/IoT Patent Portfolio") relating to, among other things, enabling technology for authenticating and using eSIM (embedded Subscriber Identification Module) technology in Internet of Things ("IoT"), Machine-to-Machine, and other mobile devices, including smartphones, tablets and computers, as well as automobiles; (iii) the HFT patent portfolio (the "HFT Patent Portfolio") covering certain advanced technologies relating to high frequency trading, which inventions specifically address technological problems associated with speed and latency and provide critical latency gains in trading systems where the difference between success and failure may be measured in nanoseconds; (iv) the Mirror Worlds patent portfolio (the "Mirror Worlds Patent Portfolio") relating to foundational technologies that enable unified search and indexing, displaying and archiving of documents in a computer system; and (v) the remote power patent (the "Remote Power Patent") covering delivery of Power over Ethernet (PoE) cables for the purpose of remotely powering network devices, such as wireless access ports, IP phones and network based cameras. 8 NOTE A – BASIS OF PRESENTATION AND NATURE OF BUSINESS (continued) The Company's current strategy includes continuing to pursue licensing opportunities for its patent portfolios. In addition, the Company reviews opportunities to acquire or license additional intellectual property as well as other strategic alternatives. The Company's pa

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View this 10-Q filing on SEC EDGAR