$NTIP
NETWORK-1 TECHNOLOGIES, INC.

2023 Q3 Form 10-Q Financial Statement

#000107261323000419 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $283.0K
YoY Change
Cost Of Revenue $0.00 $81.00K
YoY Change
Gross Profit $0.00 $202.0K
YoY Change
Gross Profit Margin 71.38%
Selling, General & Admin $788.0K $669.0K
YoY Change 4.23% -11.74%
% of Gross Profit 331.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.00K $82.00K
YoY Change -13.41% 7.89%
% of Gross Profit 40.59%
Operating Expenses $859.0K $832.0K
YoY Change 2.51% -0.24%
Operating Profit -$859.0K -$549.0K
YoY Change 2.51% -34.17%
Interest Expense $537.0K $370.0K
YoY Change -85.79% -183.15%
% of Operating Profit
Other Income/Expense, Net $537.0K $370.0K
YoY Change -86.74% -183.15%
Pretax Income -$322.0K -$179.0K
YoY Change -110.02% -86.0%
Income Tax -$44.00K -$94.00K
% Of Pretax Income
Net Earnings -$810.0K -$476.0K
YoY Change -136.39% -68.93%
Net Earnings / Revenue -168.2%
Basic Earnings Per Share -$0.03 -$0.02
Diluted Earnings Per Share -$0.03 -$0.02
COMMON SHARES
Basic Shares Outstanding 23.76M shares 23.80M shares
Diluted Shares Outstanding 23.80M shares 23.80M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.57M $46.37M
YoY Change -8.9% -11.04%
Cash & Equivalents $20.89M $16.62M
Short-Term Investments $23.68M $29.76M
Other Short-Term Assets $41.00K $88.00K
YoY Change -62.04% -63.18%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $44.92M $46.64M
YoY Change -9.01% -10.94%
LONG-TERM ASSETS
Property, Plant & Equipment $16.00K $129.0K
YoY Change -90.96% -33.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.655M $6.187M
YoY Change -26.18% 232.1%
Other Assets $13.00K $13.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $7.040M $7.756M
YoY Change -26.1% 60.68%
TOTAL ASSETS
Total Short-Term Assets $44.92M $46.64M
Total Long-Term Assets $7.040M $7.756M
Total Assets $51.96M $54.39M
YoY Change -11.78% -4.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $250.0K $375.0K
YoY Change -28.16% -28.84%
Accrued Expenses $374.0K $261.0K
YoY Change -18.7% -38.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $650.0K $751.0K
YoY Change -19.95% -30.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $60.00K
YoY Change -100.0% -53.13%
Total Long-Term Liabilities $0.00 $60.00K
YoY Change -100.0% -53.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $650.0K $751.0K
Total Long-Term Liabilities $0.00 $60.00K
Total Liabilities $1.533M $1.725M
YoY Change -19.27% 43.63%
SHAREHOLDERS EQUITY
Retained Earnings -$17.14M -$14.76M
YoY Change 71.45% 36.38%
Common Stock $236.0K $238.0K
YoY Change -0.42% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.42M $52.67M
YoY Change
Total Liabilities & Shareholders Equity $51.96M $54.39M
YoY Change -11.78% -4.9%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$810.0K -$476.0K
YoY Change -136.39% -68.93%
Depreciation, Depletion And Amortization $71.00K $82.00K
YoY Change -13.41% 7.89%
Cash From Operating Activities -$200.0K -$263.0K
YoY Change -65.03% -93.18%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $6.024M $6.985M
YoY Change -347.39% -154.5%
Cash From Investing Activities $6.024M $6.985M
YoY Change -347.39% -154.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.553M -26.00K
YoY Change 14.11% -89.68%
NET CHANGE
Cash From Operating Activities -200.0K -263.0K
Cash From Investing Activities 6.024M 6.985M
Cash From Financing Activities -1.553M -26.00K
Net Change In Cash 4.271M 6.696M
YoY Change -197.78% -139.56%
FREE CASH FLOW
Cash From Operating Activities -$200.0K -$263.0K
Capital Expenditures $0.00
Free Cash Flow -$200.0K
YoY Change -65.03%

Facts In Submission

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CommonStockDividendsPerShareDeclared
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-4000 usd
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-476000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1533000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1099000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2848000 usd
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Adjustment For Amortization
AdjustmentForAmortization
165000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
151000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
267000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
233000 usd
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
-1065000 usd
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
-788000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
90000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-808000 usd
us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
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us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
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nssi Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
32000 usd
nssi Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
10000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-260000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
89000 usd
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-132000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
68000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2833000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-34000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-10000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-727000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-336000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-553000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4608000 usd
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
-36106000 usd
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
-4004000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
30780000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
16283000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
524000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5326000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12803000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1191000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1195000 usd
nssi Value Of Shares Delivered To Fund Withholding Taxes
ValueOfSharesDeliveredToFundWithholdingTaxes
83000 usd
nssi Value Of Shares Delivered To Fund Withholding Taxes
ValueOfSharesDeliveredToFundWithholdingTaxes
112000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
332000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
247000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1606000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1554000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
3167000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-18965000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13448000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44497000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16615000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25532000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3000000 usd
nssi Accrued Dividend Rights On Restricted Stock Units
AccruedDividendRightsOnRestrictedStockUnits
8000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
204000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80C_eus-gaap--NatureOfOperations_zdyas1Y6SiB8" style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE A – <span id="xdx_828_zw8YnsgAc6W8">BASIS OF PRESENTATION AND NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>[1] BASIS OF PRESENTATION</b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed consolidated financial statements are unaudited, but, in the opinion of the management of Network-1 Technologies, Inc. (the “Company”), contain all adjustments consisting only of normal recurring items which the Company considers necessary for the fair presentation of the Company’s financial position as of June 30, 2023, and the results of its operations and comprehensive loss for the three and six month periods ended June 30, 2023 and June 30, 2022, changes in stockholders’ equity for the three and six month periods ended June 30, 2023 and June 30, 2022, and its cash flows for the six month periods ended June 30, 2023 and June 30, 2022.  The unaudited condensed consolidated financial statements included herein have been prepared in accordance with the accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and the instructions to Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP may have been omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2023. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results of operations to be expected for the full year.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Mirror Worlds Technologies, LLC. and HFT Solutions, LLC. All intercompany balances and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>[2] BUSINESS</b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is engaged in the development, licensing and protection of its intellectual property assets. The Company presently owns ninety-eight (<span id="xdx_908_eus-gaap--GainContingencyPatentsFoundInfringedUponNumber_uInteger_c20230101__20230630_zXT1aIa4Nb2f" title="U.S. Patents owned by the company">98</span>) U.S. patents, fifty-three (<span id="xdx_905_ecustom--ExpiredPatents_uInteger_c20230101__20230630_zcg3JA2YJr1d" title="Expired patents">53</span>) of such patents have expired, and fourteen (<span id="xdx_908_ecustom--ForeignPatentsOwnedByCompany_uInteger_c20230101__20230630_z4LzxEHYnKMd" title="Foreign patents owned by the company">14</span>) 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, provisioning and using embedded SIM (Subscriber Identification Module) technology in next generation IoT, Machine-to-Machine, and other mobile devices, including smartphones, tablets and computers; (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.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 patent acquisition and development strategy is to focus on acquiring high quality patents which management believes have the potential to generate significant licensing opportunities as the Company has achieved with respect to its Remote Power Patent and Mirror Worlds Patent Portfolio. In addition, the Company may also enter into strategic relationships with third parties to develop, commercialize, license or otherwise monetize their intellectual property.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 6pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has made equity investments totaling $<span id="xdx_909_eus-gaap--Investments_c20230630__dei--LegalEntityAxis__custom--ILiADBiotechnologiesLLCMember_pp0p0" title="Aggregate investment amount">7,000,000</span> in ILiAD Biotechnologies, LLC (“ILiAD”), a clinical stage biotechnology company (see Note J hereof).</span></p>
us-gaap Gain Contingency Patents Found Infringed Upon Number
GainContingencyPatentsFoundInfringedUponNumber
98 integer
nssi Expired Patents
ExpiredPatents
53 integer
nssi Foreign Patents Owned By Company
ForeignPatentsOwnedByCompany
14 integer
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8473000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8473000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7046000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_z8ZhInbN06Jh" style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify"><span style="font: small-caps 10pt Times New Roman, Times, Serif"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>[1]</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zSanbyB2EMHa">Use of Estimates and Assumptions</span></b></span></td></tr></table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. The significant estimates and assumptions made in the preparation of the Company’s unaudited condensed consolidated financial statements include costs related to the Company’s assertion of litigation, valuation of the Company’s patent portfolios, stock-based compensation, the recoverability of deferred tax assets and the carrying value of the Company’s equity method investments. Actual results could be materially different from those estimates upon which the carrying values were based.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain amounts recorded to reflect the Company’s share of income or losses of its equity method investee, accounted for under the equity method, are based on estimates and the unaudited results of operations of the equity method investee and may require adjustment in the future when the audit of the equity method investee is complete. The Company reports its share of the results of its equity method investee on a one quarter lag basis.</span></p>
us-gaap Revenues
Revenues
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CY2023Q2 us-gaap Revenues
Revenues
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CY2023Q2 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
283000 usd
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
820000 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1036000 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1036000 usd
CY2023Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_842_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zjQ0LDKoe7fl" style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0; text-align: right"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>[5]</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zCpWZ5gEaAg9">Reclassifications</span></b></span></td> </tr></table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Stock-based compensation in the unaudited condensed consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2022 has been recast and reclassified to conform to the current period presentation.</span></p>
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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FiniteLivedPatentsGross
1427000 usd
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FiniteLivedPatentsGross
1592000 usd
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82000 usd
CY2022Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
165000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
151000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
161000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
120000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
120000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
117000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
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CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1427000 usd
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
625000 shares
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
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us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
70000 shares
nssi Issuance Weightedaverage Grant Date Fair Value
IssuanceWeightedaverageGrantDateFairValue
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
135000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.46
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
560000 shares
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.78
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
560000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1171250 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23865141 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23864053 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23803567 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23854438 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23865141 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23864053 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23803567 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23854438 shares
nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
560000 shares
nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
1160500 shares
CY2023Q2 nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
560000 shares
CY2022Q2 nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
1160000 shares
nssi Contingency Fee Minimum
ContingencyFeeMinimum
0.15 pure
nssi Contingency Fee Maximum
ContingencyFeeMaximum
0.24 pure
nssi Legal Fees On Full Contingency Minimum
LegalFeesOnFullContingencyMinimum
0.15 pure
nssi Legal Fees On Full Contingency Maximum
LegalFeesOnFullContingencyMaximum
0.30 pure
CY2022Q1 nssi Hft Patent Acqusition Cash At Closing
HftPatentAcqusitionCashAtClosing
500000 usd
CY2022Q1 nssi Obligation To Pay Hft Seller Additional Cash Based On Achieving Certain Milestones
ObligationToPayHftSellerAdditionalCashBasedOnAchievingCertainMilestones
500000 usd
CY2022Q1 nssi Contingent Common Stock Issued Upon Achieving Certain Milestones
ContingentCommonStockIssuedUponAchievingCertainMilestones
375000 usd
CY2022Q1 nssi First50 Million
First50Million
0.15 pure
CY2022Q1 nssi Greater Than50 Million
GreaterThan50Million
0.175 pure
CY2023Q2 nssi Obligated To Pay Seller Net Proceed Percentage
ObligatedToPaySellerNetProceedPercentage
0.125 pure
CY2023Q2 nssi First125 Million
First125Million
0.10 pure
CY2023Q2 nssi Next125 Million
Next125Million
0.15 pure
CY2023Q2 nssi Over250 Million
Over250Million
0.20 pure
nssi Recognition Net Proceeds Payment Related To Mirror Worlds Patents
RecognitionNetProceedsPaymentRelatedToMirrorWorldsPatents
3127000 usd
CY2023Q2 nssi First100
First100
0.14 pure
CY2023Q2 nssi Next100
Next100
0.05 pure
CY2023Q2 nssi Aadditional Consideration
AadditionalConsideration
250000 usd
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.042 pure
CY2023Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3Y
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
139000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
129000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
161000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
79000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
79000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
60000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
94000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
139000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
173000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
20000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
12000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
39000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
12000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
36000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
20000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
24000 usd
us-gaap Lease Cost
LeaseCost
39000 usd
us-gaap Lease Cost
LeaseCost
48000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
39000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
78000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
26000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
143000 usd
CY2023Q2 nssi Operating Leases Imputed Interest
OperatingLeasesImputedInterest
-4000 usd
CY2023Q2 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
283000 usd
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
820000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9697000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8133000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5610000 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3531000 usd
nssi Comprehensive Loss
ComprehensiveLoss
15683000 usd
nssi Comprehensive Loss
ComprehensiveLoss
12489000 usd
CY2023Q1 nssi Comprehensive Loss
ComprehensiveLoss
5152000 usd
CY2022Q1 nssi Comprehensive Loss
ComprehensiveLoss
3744000 usd
CY2023Q2 nssi Stock Repurchase Program Dollar Amount That May Be Repurchased
StockRepurchaseProgramDollarAmountThatMayBeRepurchased
5000000 usd
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
9360944 shares
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
18085981 usd
nssi Weighted Average Price Per Share Common Stock Subject To Repurchase
WeightedAveragePricePerShareCommonStockSubjectToRepurchase
1.93
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
11495 shares
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
25685 usd
CY2023Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
2.23
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
148280 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
327887 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
2.21
CY2023Q2 nssi Value Of Remaining Shares That May Be Repurchased
ValueOfRemainingSharesThatMayBeRepurchased
5000000 usd
CY2022Q3 nssi Excise Tax Description
ExciseTaxDescription
The excise tax applies in case where the total value of the stock repurchase during the taxable year exceeds $1,000,000.
CY2023Q2 nssi Fdic Insured Amount
FdicInsuredAmount
250000 usd
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
0 usd
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
16362000 usd
nssi Dividends Per Share
DividendsPerShare
0.05
nssi Dividends Per Share Annual
DividendsPerShareAnnual
0.10
us-gaap Dividends Cash
DividendsCash
1188000 usd

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