$NTIP
NETWORK-1 TECHNOLOGIES, INC.

2023 Q4 Form 10-Q Financial Statement

#000107261323000526 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $1.781M
YoY Change
Cost Of Revenue $642.0K $0.00
YoY Change
Gross Profit $1.139M $0.00
YoY Change
Gross Profit Margin 63.95%
Selling, General & Admin $1.160M $788.0K
YoY Change -7.27% 4.23%
% of Gross Profit 101.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.00K $71.00K
YoY Change -63.86% -13.41%
% of Gross Profit 2.63%
Operating Expenses $1.190M $859.0K
YoY Change -10.79% 2.51%
Operating Profit -$51.00K -$859.0K
YoY Change -96.18% 2.51%
Interest Expense $812.0K $537.0K
YoY Change 24.73% -85.79%
% of Operating Profit
Other Income/Expense, Net $537.0K
YoY Change -86.74%
Pretax Income $761.0K -$322.0K
YoY Change -211.42% -110.02%
Income Tax -$97.00K -$44.00K
% Of Pretax Income -12.75%
Net Earnings $452.0K -$810.0K
YoY Change -126.46% -136.39%
Net Earnings / Revenue 25.38%
Basic Earnings Per Share -$0.03
Diluted Earnings Per Share $0.02 -$0.03
COMMON SHARES
Basic Shares Outstanding 23.63M shares 23.76M shares
Diluted Shares Outstanding 23.80M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.47M $44.57M
YoY Change -6.14% -8.9%
Cash & Equivalents $16.90M $20.89M
Short-Term Investments $28.57M $23.68M
Other Short-Term Assets $206.0K $41.00K
YoY Change -40.8% -62.04%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $45.67M $44.92M
YoY Change -6.72% -9.01%
LONG-TERM ASSETS
Property, Plant & Equipment $16.00K $16.00K
YoY Change -90.06% -90.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.249M $5.655M
YoY Change -27.62% -26.18%
Other Assets $13.00K $13.00K
YoY Change 0.0%
Total Long-Term Assets $6.604M $7.040M
YoY Change -26.66% -26.1%
TOTAL ASSETS
Total Short-Term Assets $45.67M $44.92M
Total Long-Term Assets $6.604M $7.040M
Total Assets $52.28M $51.96M
YoY Change -9.82% -11.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $125.0K $250.0K
YoY Change -75.35% -28.16%
Accrued Expenses $88.00K $374.0K
YoY Change -91.05% -18.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $823.0K $650.0K
YoY Change -48.72% -19.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $823.0K $650.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.585M $1.533M
YoY Change -44.58% -19.27%
SHAREHOLDERS EQUITY
Retained Earnings -$16.99M -$17.14M
YoY Change 40.93% 71.45%
Common Stock $235.0K $236.0K
YoY Change -1.67% -0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.69M $50.42M
YoY Change
Total Liabilities & Shareholders Equity $52.28M $51.96M
YoY Change -9.82% -11.78%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $452.0K -$810.0K
YoY Change -126.46% -136.39%
Depreciation, Depletion And Amortization $30.00K $71.00K
YoY Change -63.86% -13.41%
Cash From Operating Activities $1.084M -$200.0K
YoY Change -523.44% -65.03%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$4.813M $6.024M
YoY Change -31.57% -347.39%
Cash From Investing Activities -$4.813M $6.024M
YoY Change -31.57% -347.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -261.0K -1.553M
YoY Change -38.88% 14.11%
NET CHANGE
Cash From Operating Activities 1.084M -200.0K
Cash From Investing Activities -4.813M 6.024M
Cash From Financing Activities -261.0K -1.553M
Net Change In Cash -3.990M 4.271M
YoY Change -48.29% -197.78%
FREE CASH FLOW
Cash From Operating Activities $1.084M -$200.0K
Capital Expenditures $0.00
Free Cash Flow -$200.0K
YoY Change -65.03%

Facts In Submission

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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CommonStockDividendsPerShareDeclared
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CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Common Stock Dividends Per Share Declared
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CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 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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CY2023Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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CY2022Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
2000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
14000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-796000 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2228000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1895000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-620000 usd
us-gaap Net Income Loss
NetIncomeLoss
-1909000 usd
us-gaap Net Income Loss
NetIncomeLoss
-618000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
236000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
233000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
388000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
407000 usd
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
-1597000 usd
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
-1073000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
27000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
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us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
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us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
422000 usd
nssi Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
47000 usd
nssi Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
27000 usd
nssi Gain On Equity Method Investment
GainOnEquityMethodInvestment
3727000 usd
nssi Accrued Interest On Convertible Note
AccruedInterestOnConvertibleNote
86000 usd
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GainsLossesOnExtinguishmentOfDebt
271000 usd
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IncreaseDecreaseInOtherCurrentAssets
-307000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-32000 usd
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
131000 usd
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
326000 usd
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-13000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-257000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-110000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-89000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2948000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-52000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-21000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-572000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-346000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-753000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5180000 usd
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
-44488000 usd
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
-8750000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
33138000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
22464000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
524000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1000000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
11350000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-15238000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2371000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2381000 usd
nssi Value Of Shares Delivered To Fund Withholding Taxes
ValueOfSharesDeliveredToFundWithholdingTaxes
83000 usd
nssi Value Of Shares Delivered To Fund Withholding Taxes
ValueOfSharesDeliveredToFundWithholdingTaxes
112500 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
705000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
422000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3159000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2915000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
7438000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-23333000 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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20886000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21164000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
67000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3165000 usd
nssi Accrued Dividend Rights On Restricted Stock Units
AccruedDividendRightsOnRestrictedStockUnits
22000 usd
nssi Accrued Dividend Rights On Restricted Stock Units
AccruedDividendRightsOnRestrictedStockUnits
37000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
98000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
204000 usd
nssi Conversion Of Note Receivable
ConversionOfNoteReceivable
1086000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_808_eus-gaap--NatureOfOperations_zpfKLabjh6Zk" 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; color: Black"><b>NOTE A –<span id="xdx_826_zhGJAAJmNsBg"> 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; color: Black"><b>[1] BASIS OF PRESENTATION</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; color: Black">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 September 30, 2023, and the results of its operations and comprehensive loss for the three and nine month periods ended September 30, 2023 and September 30, 2022, changes in stockholders’ equity for the three and nine month periods ended September 30, 2023 and September 30, 2022, and its cash flows for the nine month periods ended September 30, 2023 and September 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 nine months ended September 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; color: Black">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: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><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; color: Black">The Company is engaged in the development, licensing and protection of its intellectual property assets. The Company presently owns ninety-nine (<span id="xdx_90F_eus-gaap--GainContingencyPatentsFoundInfringedUponNumber_uInteger_c20230101__20230930_zuKsDhfe8lMc" title="U.S. Patents owned by the company">99</span><b>)</b> U.S. patents, fifty-three <b>(</b><span id="xdx_903_ecustom--ExpiredPatents_uInteger_c20230101__20230930_zlNLo0ghETj5" title="Expired patents">53</span><b>)</b> of such patents have expired, and fourteen (<span id="xdx_901_ecustom--ForeignPatentsOwnedByCompany_uInteger_c20230101__20230930_zghdHoM2tnY3" 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 and using embedded SIM (Subscriber Identification Module) technology in next generation 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.</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; color: Black">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: 6pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company has made equity investments totaling $<span id="xdx_905_eus-gaap--Investments_c20230930__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
99 integer
nssi Expired Patents
ExpiredPatents
53 integer
nssi Foreign Patents Owned By Company
ForeignPatentsOwnedByCompany
14 integer
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zJB0sRrXmR8g" 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; color: Black"><b><span> </span></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; color: Black"><b>[1]</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span id="xdx_86A_zt8p8vZlem22">Use of Estimates and Assumptions</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; color: Black">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; color: Black">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
820000 usd
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
820000 usd
CY2023Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1397000 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1397000 usd
CY2023Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
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CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8473000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8473000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7117000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6881000 usd
CY2023Q3 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1356000 usd
CY2022Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1592000 usd
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
71000 usd
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
82000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
236000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
233000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
30000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
120000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
120000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
120000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
119000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
847000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1356000 usd
nssi Expiration Dates Of Patents Within Cox Patent Portfolio
ExpirationDatesOfPatentsWithinCoxPatentPortfolio
November 2023
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
625000 shares
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.87
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
120000 shares
nssi Issuance Weightedaverage Grant Date Fair Value
IssuanceWeightedaverageGrantDateFairValue
2.27
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
146250 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.44
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
598750 shares
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.82
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
598750 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1148750 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23867204 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23830702 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23803567 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23765089 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
300635 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23867204 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23830702 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23803567 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24065724 shares
nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
598750 shares
nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
1148750 shares
CY2023Q3 nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
598750 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
nssi Legal Fees On Contingency Basis Minimum Remote Power Patent
LegalFeesOnContingencyBasisMinimumRemotePowerPatent
0.15 pure
nssi Legal Fees On Contingency Basis Maximum Remote Power Patent
LegalFeesOnContingencyBasisMaximumRemotePowerPatent
0.40 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
CY2023Q3 nssi Obligated To Pay Seller Net Proceed Percentage
ObligatedToPaySellerNetProceedPercentage
0.125 pure
CY2023Q3 nssi First125 Million
First125Million
0.10 pure
CY2023Q3 nssi Next125 Million
Next125Million
0.15 pure
CY2023Q3 nssi Over250 Million
Over250Million
0.20 pure
nssi Recognition Net Proceeds Payment Related To Mirror Worlds Patents
RecognitionNetProceedsPaymentRelatedToMirrorWorldsPatents
3127000 usd
CY2023Q3 nssi First100
First100
0.14 pure
CY2023Q3 nssi Next100
Next100
0.05 pure
CY2023Q3 nssi Aadditional Consideration
AadditionalConsideration
250000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
161000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
23000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
79000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
94000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
23000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
173000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
20000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
18000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
59000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
30000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
46000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
20000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
28000 usd
us-gaap Lease Cost
LeaseCost
59000 usd
us-gaap Lease Cost
LeaseCost
76000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
23000 usd
CY2022Q1 nssi Ceo Incentive Compensation Of License Revenue Remote Power Patent
CeoIncentiveCompensationOfLicenseRevenueRemotePowerPatent
0.05 pure
CY2022Q1 nssi Ceo Incentive Compensation Of License Revenue Other Patents
CeoIncentiveCompensationOfLicenseRevenueOtherPatents
0.10 pure
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
820000 usd
us-gaap Revenues
Revenues
820000 usd
nssi Conditional Settlement Payment Unrecognized
ConditionalSettlementPaymentUnrecognized
150000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-17929000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-11880000 usd
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-8232000 usd
CY2022Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-5753000 usd
nssi Comprehensive Loss
ComprehensiveLoss
-23525000 usd
nssi Comprehensive Loss
ComprehensiveLoss
-13353000 usd
CY2023Q3 nssi Comprehensive Loss
ComprehensiveLoss
-7842000 usd
CY2022Q3 nssi Comprehensive Loss
ComprehensiveLoss
-2424000 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
9523982 shares
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
18455467 usd
nssi Weighted Average Price Per Share Common Stock Subject To Repurchase
WeightedAveragePricePerShareCommonStockSubjectToRepurchase
1.94
CY2023Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
163038 shares
CY2023Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
369846 usd
CY2023Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
2.27
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
311318 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
697733 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
2.24
CY2022Q3 nssi Excise Tax Description
ExciseTaxDescription
The excise tax applies in cases where the total value of the stock repurchase during the taxable year exceeds $1,000,000.
CY2023Q3 nssi Value Of Remaining Shares That May Be Repurchased
ValueOfRemainingSharesThatMayBeRepurchased
4630154 usd
CY2023Q3 nssi Fdic Insured Amount
FdicInsuredAmount
250000 usd
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
0 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
20693000 usd
nssi Dividends Per Share
DividendsPerShare
0.05
nssi Dividends Per Share Annual
DividendsPerShareAnnual
0.10
us-gaap Dividends Cash
DividendsCash
1182000 usd

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