2024 Q2 Form 10-Q Financial Statement

#000107261324000458 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $100.0K $537.0K
YoY Change -64.66%
Cost Of Revenue $28.00K $0.00 $151.0K
YoY Change -65.43% -100.0%
Gross Profit $72.00K $0.00 $386.0K
YoY Change -64.36% -100.0%
Gross Profit Margin 72.0% 71.88%
Selling, General & Admin $666.0K $888.0K $1.079M
YoY Change -0.45% -17.7% 31.27%
% of Gross Profit 925.0% 279.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.00K $30.00K $83.00K
YoY Change -63.41% -63.86% 10.67%
% of Gross Profit 41.67% 21.5%
Operating Expenses $724.0K $918.0K $1.313M
YoY Change -12.98% -30.08% 46.38%
Operating Profit -$624.0K -$918.0K -$776.0K
YoY Change 13.66% 18.3% -13.49%
Interest Expense $506.0K $479.0K $674.0K
YoY Change 36.76% -28.93% -255.3%
% of Operating Profit
Other Income/Expense, Net $479.0K $674.0K
YoY Change -28.93% -255.3%
Pretax Income -$118.0K -$439.0K -$102.0K
YoY Change -34.08% 330.39% -92.34%
Income Tax -$137.0K -$147.0K -$153.0K
% Of Pretax Income
Net Earnings -$658.0K -$920.0K -$623.0K
YoY Change 38.24% 47.67% -52.52%
Net Earnings / Revenue -658.0% -116.01%
Basic Earnings Per Share -$0.03 -$0.04 -$0.03
Diluted Earnings Per Share -$0.03 -$0.04 -$0.03
COMMON SHARES
Basic Shares Outstanding 23.41M shares 23.51M shares 23.82M shares
Diluted Shares Outstanding 23.30M shares 23.54M shares 23.87M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.60M $43.39M $46.84M
YoY Change -8.13% -7.35% -17.15%
Cash & Equivalents $19.94M $18.11M $9.919M
Short-Term Investments $22.66M $25.29M $36.92M
Other Short-Term Assets $182.0K $218.0K $119.0K
YoY Change 106.82% 83.19% 7.21%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $42.78M $43.61M $47.14M
YoY Change -8.26% -7.47% -16.79%
LONG-TERM ASSETS
Property, Plant & Equipment $59.00K $75.00K $145.0K
YoY Change -54.26% -48.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.944M $4.621M $6.578M
YoY Change -36.25% -29.75% 104.41%
Other Assets $13.00K $13.00K $13.00K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $5.282M $6.005M $8.245M
YoY Change -31.9% -27.17% 62.82%
TOTAL ASSETS
Total Short-Term Assets $42.78M $43.61M $47.14M
Total Long-Term Assets $5.282M $6.005M $8.245M
Total Assets $48.06M $49.62M $55.38M
YoY Change -11.63% -10.41% -10.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $206.0K $306.0K $601.0K
YoY Change -45.07% -49.08% 22.65%
Accrued Expenses $206.0K $239.0K $517.0K
YoY Change -21.07% -53.77% -9.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $412.0K $545.0K $1.233M
YoY Change -45.14% -55.8% -69.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $24.00K $77.00K
YoY Change -68.83%
Total Long-Term Liabilities $0.00 $24.00K $77.00K
YoY Change -100.0% -68.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $412.0K $545.0K $1.233M
Total Long-Term Liabilities $0.00 $24.00K $77.00K
Total Liabilities $890.0K $1.184M $2.318M
YoY Change -48.41% -48.92% -43.64%
SHAREHOLDERS EQUITY
Retained Earnings -$20.71M -$19.36M -$14.26M
YoY Change 40.3% 35.76%
Common Stock $232.0K $235.0K $239.0K
YoY Change -2.52% -1.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.17M $48.43M $53.06M
YoY Change
Total Liabilities & Shareholders Equity $48.06M $49.62M $55.38M
YoY Change -11.63% -10.41% -10.26%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$658.0K -$920.0K -$623.0K
YoY Change 38.24% 47.67% -52.52%
Depreciation, Depletion And Amortization $30.00K $30.00K $83.00K
YoY Change -63.41% -63.86% 10.67%
Cash From Operating Activities -$64.00K -$596.0K -$290.0K
YoY Change -75.67% 105.52% -61.28%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $2.597M $3.262M -$1.659M
YoY Change -62.82% -296.62% -408.94%
Cash From Investing Activities $2.597M $3.262M -$1.659M
YoY Change -62.82% -296.62% -12861.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -699.0K -$1.457M -$1.580M
YoY Change 2588.46% -7.78% 21.35%
NET CHANGE
Cash From Operating Activities -64.00K -$596.0K -$290.0K
Cash From Investing Activities 2.597M $3.262M -$1.659M
Cash From Financing Activities -699.0K -$1.457M -$1.580M
Net Change In Cash 1.834M $1.209M -$3.529M
YoY Change -72.61% -134.26% 73.16%
FREE CASH FLOW
Cash From Operating Activities -$64.00K -$596.0K -$290.0K
Capital Expenditures
Free Cash Flow
YoY Change

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PaymentsOfDividendsCommonStock
1210000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1191000 usd
CY2024Q1 nssi Value Of Shares Delivered To Fund Payment Of Withholding Taxes
ValueOfSharesDeliveredToFundPaymentOfWithholdingTaxes
-61000 usd
CY2023Q1 nssi Value Of Shares Delivered To Fund Payment Of Withholding Taxes
ValueOfSharesDeliveredToFundPaymentOfWithholdingTaxes
-83000 usd
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
186000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
306000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1457000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1580000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1209000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3529000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16896000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13448000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18105000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9919000 usd
CY2024Q1 nssi Accrued Dividend Rights On Restricted Stock Units
AccruedDividendRightsOnRestrictedStockUnits
32000 usd
CY2023Q1 nssi Accrued Dividend Rights On Restricted Stock Units
AccruedDividendRightsOnRestrictedStockUnits
8000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
75000 usd
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80B_eus-gaap--NatureOfOperations_zxeMDQcd1eq9" 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_82F_z2DfrtdFex94">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: 0pt 0pt 12pt; 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 March 31, 2024, and the results of its operations, changes in stockholders’ equity, and its cash flows for the three month periods ended March 31, 2024 and March 31, 2023.  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, 2023 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 8, 2024. The results of operations for the three months ended March 31,2024 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: 0pt 0pt 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 12pt"><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: 0pt 0pt 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 one-hundred two (<span id="xdx_901_eus-gaap--GainContingencyPatentsFoundInfringedUponNumber_uInteger_c20240101__20240331_zy0ZBnZ5pmQ9" title="U.S. Patents owned by the company">102</span>) U.S. patents, fifty-four (<span id="xdx_901_ecustom--ExpiredPatents_uInteger_c20240101__20240331_zmW1kwDocEf7" title="Expired patents">54</span>) of such patents have expired, and fifteen (<span id="xdx_908_ecustom--ForeignPatentsOwnedByCompany_uInteger_c20240101__20240331_zlPQHqruQfq9" title="Foreign patents owned by the company">15</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 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.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0pt 12pt; 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 0pt 6pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has also made equity investments totaling $<span id="xdx_901_eus-gaap--Investments_iI_pp0p0_c20240331__dei--LegalEntityAxis__custom--ILiADBiotechnologiesLLCMember_zhQfaTXo8BC2" title="Aggregate investment amount">7,000,000</span> in ILiAD Biotechnologies, LLC (“ILiAD”), a clinical stage biotechnology company (see Note J hereof).</span></p>
CY2024Q1 us-gaap Gain Contingency Patents Found Infringed Upon Number
GainContingencyPatentsFoundInfringedUponNumber
102 integer
CY2024Q1 nssi Expired Patents
ExpiredPatents
54 integer
CY2024Q1 nssi Foreign Patents Owned By Company
ForeignPatentsOwnedByCompany
15 integer
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zgfu6WeakQYe" 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><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"><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_860_zKLDqsL5Hcl8">Use of Estimates and Assumptions</span></b></span></td></tr></table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0pt 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0pt 12pt; 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: 0pt 0pt 12pt; 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>
CY2023Q1 us-gaap Revenues
Revenues
537000 usd
CY2023Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
537000 usd
CY2024Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1319000 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1319000 usd
CY2024Q1 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
615000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8473000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8473000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7177000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7147000 usd
CY2024Q1 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1296000 usd
CY2023Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1326000 usd
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
30000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
83000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
90000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
120000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
120000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
119000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
116000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
731000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1296000 usd
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
587500 shares
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.81
CY2024Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
70000 shares
CY2024Q1 nssi Issuance Weightedaverage Grant Date Fair Value
IssuanceWeightedaverageGrantDateFairValue
2.17
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
111250 shares
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.45
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
546250 shares
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.72
CY2024Q1 nssi Dividend Equivalent Rights
DividendEquivalentRights
35000 usd
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
546250 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
571250 shares
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23540468 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23866821 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23540468 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23866821 shares
CY2024Q1 nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
546250 shares
CY2023Q1 nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
571250 shares
CY2024Q1 nssi Contingency Fee Minimum
ContingencyFeeMinimum
0.15 pure
CY2024Q1 nssi Contingency Fee Maximum
ContingencyFeeMaximum
0.24 pure
CY2024Q1 nssi Legal Fees On Full Contingency Minimum
LegalFeesOnFullContingencyMinimum
0.15 pure
CY2024Q1 nssi Legal Fees On Full Contingency Maximum
LegalFeesOnFullContingencyMaximum
0.30 pure
CY2024Q1 nssi Legal Fees On Contingency Basis Minimum Remote Power Patent
LegalFeesOnContingencyBasisMinimumRemotePowerPatent
0.15 pure
CY2024Q1 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 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
CY2024Q1 nssi Obligated To Pay Seller Net Proceed Percentage
ObligatedToPaySellerNetProceedPercentage
0.125 pure
CY2024Q1 nssi First125 Million
First125Million
0.10 pure
CY2024Q1 nssi Next125 Million
Next125Million
0.15 pure
CY2024Q1 nssi Over250 Million
Over250Million
0.20 pure
nssi Recognition Net Proceeds Payment Related To Mirror Worlds Patents
RecognitionNetProceedsPaymentRelatedToMirrorWorldsPatents
3127000 usd
CY2024Q1 nssi First100
First100
0.14 pure
CY2024Q1 nssi Next100
Next100
0.05 pure
CY2024Q1 nssi Aadditional Consideration
AadditionalConsideration
250000 usd
CY2024Q1 nssi Base Rent
BaseRent
5500 usd
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.042 pure
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3Y
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
75000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
57000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
23000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
81000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
23000 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
17000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
19000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
17000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
19000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
59000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
26000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
85000 usd
CY2024Q1 nssi Operating Leases Imputed Interest
OperatingLeasesImputedInterest
-4000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
81000 usd
CY2022Q1 nssi Ceo Incentive Compensation Of License Revenue Remote Power Patent
CeoIncentiveCompensationOfLicenseRevenueRemotePowerPatent
0.10 pure
CY2024Q1 us-gaap Salaries And Wages
SalariesAndWages
0 usd
CY2023Q1 us-gaap Salaries And Wages
SalariesAndWages
27000 usd
CY2022Q1 nssi Ceo Incentive Compensation Of License Revenue Remote Power Patent1
CeoIncentiveCompensationOfLicenseRevenueRemotePowerPatent1
0.05 pure
CY2024Q1 nssi Conditional Settlement Payment Unrecognized
ConditionalSettlementPaymentUnrecognized
150000 usd
CY2023Q4 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-10091000 usd
CY2022Q4 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-3466000 usd
CY2023Q4 nssi Comprehensive Loss
ComprehensiveLoss
-9470000 usd
CY2022Q4 nssi Comprehensive Loss
ComprehensiveLoss
-9911000 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
9724540 shares
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
18894986 usd
nssi Weighted Average Price Per Share Common Stock Subject To Repurchase
WeightedAveragePricePerShareCommonStockSubjectToRepurchase
1.97
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
83744 shares
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
182070 usd
CY2024Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
2.17
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
CY2024Q1 nssi Value Of Remaining Shares That May Be Repurchased
ValueOfRemainingSharesThatMayBeRepurchased
4190635 usd
CY2024Q1 nssi Fdic Insured Amount
FdicInsuredAmount
250000 usd
CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
1153000 usd
CY2024Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
18040000 usd
CY2024Q1 nssi Dividends Per Share
DividendsPerShare
0.05
CY2024Q1 nssi Dividends Per Share Annual
DividendsPerShareAnnual
0.10
CY2024Q1 us-gaap Dividends Cash
DividendsCash
1175000 usd

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