2024 Q3 Form 10-Q Financial Statement

#000107261324000616 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $100.0K $283.0K
YoY Change -64.66%
Cost Of Revenue $28.00K $81.00K
YoY Change -65.43%
Gross Profit $72.00K $202.0K
YoY Change -64.36%
Gross Profit Margin 72.0% 71.38%
Selling, General & Admin $666.0K $669.0K
YoY Change -0.45% -11.74%
% of Gross Profit 925.0% 331.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.00K $82.00K
YoY Change -63.41% 7.89%
% of Gross Profit 41.67% 40.59%
Operating Expenses $896.0K $724.0K $832.0K
YoY Change 4.31% -12.98% -0.24%
Operating Profit -$896.0K -$624.0K -$549.0K
YoY Change 4.31% 13.66% -34.17%
Interest Expense $506.0K $370.0K
YoY Change 36.76% -183.15%
% of Operating Profit
Other Income/Expense, Net $370.0K
YoY Change -183.15%
Pretax Income -$118.0K -$179.0K
YoY Change -34.08% -86.0%
Income Tax -$71.00K -$137.0K -$94.00K
% Of Pretax Income
Net Earnings -$316.0K -$658.0K -$476.0K
YoY Change -60.99% 38.24% -68.93%
Net Earnings / Revenue -658.0% -168.2%
Basic Earnings Per Share -$0.01 -$0.03 -$0.02
Diluted Earnings Per Share -$0.01 -$0.03 -$0.02
COMMON SHARES
Basic Shares Outstanding 23.14M shares 23.41M shares 23.80M shares
Diluted Shares Outstanding 23.13M shares 23.30M shares 23.80M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.60M $46.37M
YoY Change -8.13% -11.04%
Cash & Equivalents $14.32M $19.94M $16.62M
Short-Term Investments $22.66M $29.76M
Other Short-Term Assets $141.0K $182.0K $88.00K
YoY Change 243.9% 106.82% -63.18%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $41.66M $42.78M $46.64M
YoY Change -7.26% -8.26% -10.94%
LONG-TERM ASSETS
Property, Plant & Equipment $59.00K $129.0K
YoY Change -54.26% -33.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.636M $3.944M $6.187M
YoY Change -35.7% -36.25% 232.1%
Other Assets $13.00K $13.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $4.928M $5.282M $7.756M
YoY Change -30.0% -31.9% 60.68%
TOTAL ASSETS
Total Short-Term Assets $41.66M $42.78M $46.64M
Total Long-Term Assets $4.928M $5.282M $7.756M
Total Assets $46.59M $48.06M $54.39M
YoY Change -10.34% -11.63% -4.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $371.0K $206.0K $375.0K
YoY Change 48.4% -45.07% -28.84%
Accrued Expenses $206.0K $261.0K
YoY Change -21.07% -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 $599.0K $412.0K $751.0K
YoY Change -7.85% -45.14% -30.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $60.00K
YoY Change -53.13%
Total Long-Term Liabilities $0.00 $60.00K
YoY Change -100.0% -53.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $599.0K $412.0K $751.0K
Total Long-Term Liabilities $0.00 $60.00K
Total Liabilities $1.006M $890.0K $1.725M
YoY Change -34.38% -48.41% 43.63%
SHAREHOLDERS EQUITY
Retained Earnings -$22.41M -$20.71M -$14.76M
YoY Change 30.76% 40.3% 36.38%
Common Stock $231.0K $232.0K $238.0K
YoY Change -2.12% -2.52% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $45.58M $47.17M $52.67M
YoY Change
Total Liabilities & Shareholders Equity $46.59M $48.06M $54.39M
YoY Change -10.34% -11.63% -4.9%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$316.0K -$658.0K -$476.0K
YoY Change -60.99% 38.24% -68.93%
Depreciation, Depletion And Amortization $30.00K $82.00K
YoY Change -63.41% 7.89%
Cash From Operating Activities -$64.00K -$263.0K
YoY Change -75.67% -93.18%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $2.597M $6.985M
YoY Change -62.82% -154.5%
Cash From Investing Activities $2.597M $6.985M
YoY Change -62.82% -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 -699.0K -26.00K
YoY Change 2588.46% -89.68%
NET CHANGE
Cash From Operating Activities -64.00K -263.0K
Cash From Investing Activities 2.597M 6.985M
Cash From Financing Activities -699.0K -26.00K
Net Change In Cash 1.834M 6.696M
YoY Change -72.61% -139.56%
FREE CASH FLOW
Cash From Operating Activities -$64.00K -$263.0K
Capital Expenditures
Free Cash Flow
YoY Change

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81000 usd
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IncreaseDecreaseInAccountsPayable
-132000 usd
us-gaap Increase Decrease In Operating Lease Liability
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-41000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-34000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-521000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-727000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-660000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-553000 usd
nssi Sales Of Marketable Securities
SalesOfMarketableSecurities
-12852000 usd
nssi Sales Of Marketable Securities
SalesOfMarketableSecurities
-36106000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
6993000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
30780000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5859000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5326000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1212000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1191000 usd
nssi Value Of Shares Delivered To Fund Payment Of Withholding Taxes
ValueOfSharesDeliveredToFundPaymentOfWithholdingTaxes
61000 usd
nssi Value Of Shares Delivered To Fund Payment Of Withholding Taxes
ValueOfSharesDeliveredToFundPaymentOfWithholdingTaxes
83000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
883000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
332000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2156000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1606000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
3043000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
3167000 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
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19939000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16615000 usd
nssi Accrued Dividend Rights On Restricted Stock Units
AccruedDividendRightsOnRestrictedStockUnits
32000 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
75000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80E_eus-gaap--NatureOfOperations_ztTdvxMaV5j7" 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_820_zIcF7SHaSPgd">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 June 30, 2024, and the results of its operations and changes in stockholders’ equity for the three and six months periods ended June 30, 2024 and June 30, 2023, and the statement of cash flows for the six months ended June 30, 2024 and June 30, 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 and six months ended June 30, 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: 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 one-hundred two (<span id="xdx_908_eus-gaap--GainContingencyPatentsFoundInfringedUponNumber_uInteger_c20240101__20240630_zbYvNWa4H6x6" title="U.S. Patents owned by the company">102</span>) U.S. patents, fifty-four (<span id="xdx_907_ecustom--ExpiredPatents_uInteger_c20240101__20240630_z4PWxPzYbyb4" title="Expired patents">54</span><b>)</b> of such patents have expired, and sixteen (<span id="xdx_90B_ecustom--ForeignPatentsOwnedByCompany_uInteger_c20240101__20240630_zbeF30YEcWzf" title="Foreign patents owned by the company">16</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: 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: 6pt 0; 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_907_eus-gaap--Investments_iI_pp0p0_c20240630__dei--LegalEntityAxis__custom--ILiADBiotechnologiesLLCMember_zu6IqnoHGyp" 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
102 integer
nssi Expired Patents
ExpiredPatents
54 integer
nssi Foreign Patents Owned By Company
ForeignPatentsOwnedByCompany
16 integer
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zwrZtzHWkIbk" 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; text-align: justify"> <td style="width: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>[1]</b></span></td><td style="width: 0.5in"></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zU2bVZvZpKM7">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">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
100000 usd
us-gaap Revenues
Revenues
820000 usd
CY2024Q2 us-gaap Revenues
Revenues
100000 usd
CY2023Q2 us-gaap Revenues
Revenues
283000 usd
CY2024Q2 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
100000 usd
CY2024Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1356000 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1356000 usd
CY2024Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
478000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8473000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8473000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7207000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7147000 usd
CY2024Q2 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1266000 usd
CY2023Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1326000 usd
CY2024Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
30000 usd
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
82000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
60000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
165000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
60000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
120000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
120000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
119000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
116000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
731000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1266000 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
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
70000 shares
nssi Issuance Weightedaverage Grant Date Fair Value
IssuanceWeightedaverageGrantDateFairValue
2.17
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
122500 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.42
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
535000 shares
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.71
CY2024Q2 nssi Dividend Equivalent Rights
DividendEquivalentRights
2000 usd
nssi Dividend Equivalent Rights
DividendEquivalentRights
35000 usd
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
535000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
560000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23444145 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23865141 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23296555 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23803567 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23444145 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23865141 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23296555 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23803567 shares
nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
535000 shares
nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
560000 shares
CY2024Q2 nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
535000 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
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 Contingent Cash Payable Upon Achieving Certain Milestones
ContingentCashPayableUponAchievingCertainMilestones
500000 usd
CY2022Q1 nssi Contingent Common Stock Issued Upon Achieving Certain Milestones
ContingentCommonStockIssuedUponAchievingCertainMilestones
375000 usd
CY2022Q1 nssi Contingent Common Stock Issued Upon Achieving Certain Milestones Maximum Shares
ContingentCommonStockIssuedUponAchievingCertainMilestonesMaximumShares
375000 shares
CY2022Q1 nssi First50 Million
First50Million
0.15 pure
CY2022Q1 nssi Greater Than50 Million
GreaterThan50Million
0.175 pure
CY2024Q2 nssi Obligated To Pay Seller Net Proceed Percentage
ObligatedToPaySellerNetProceedPercentage
0.125 pure
CY2024Q2 nssi First125 Million
First125Million
0.10 pure
CY2024Q2 nssi Next125 Million
Next125Million
0.15 pure
CY2024Q2 nssi Over250 Million
Over250Million
0.20 pure
nssi Recognition Net Proceeds Payment Related To Mirror Worlds Patents
RecognitionNetProceedsPaymentRelatedToMirrorWorldsPatents
3127000 usd
CY2024Q2 nssi First100
First100
0.14 pure
CY2024Q2 nssi Next100
Next100
0.05 pure
CY2024Q2 nssi Aadditional Consideration
AadditionalConsideration
250000 usd
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
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
59000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
57000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
23000 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
10000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
20000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
27000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
39000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
36000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
24000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
60000 usd
CY2024Q2 nssi Operating Leases Imputed Interest
OperatingLeasesImputedInterest
-3000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
57000 usd
CY2022Q1 nssi Ceo Incentive Compensation Of License Revenue Remote Power Patent
CeoIncentiveCompensationOfLicenseRevenueRemotePowerPatent
0.05 pure
CY2024Q2 us-gaap Salaries And Wages
SalariesAndWages
5000 usd
us-gaap Salaries And Wages
SalariesAndWages
5000 usd
CY2023Q2 us-gaap Salaries And Wages
SalariesAndWages
14000 usd
us-gaap Salaries And Wages
SalariesAndWages
41000 usd
CY2022Q1 nssi Ceo Incentive Compensation Of License Revenue Remote Power Patent1
CeoIncentiveCompensationOfLicenseRevenueRemotePowerPatent1
0.05 pure
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
2701000 usd
CY2024Q2 us-gaap Revenues
Revenues
100000 usd
CY2023Q2 us-gaap Revenues
Revenues
283000 usd
us-gaap Revenues
Revenues
100000 usd
us-gaap Revenues
Revenues
820000 usd
nssi Conditional Settlement Payment Unrecognized
ConditionalSettlementPaymentUnrecognized
150000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
20073000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9697000 usd
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7610000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5610000 usd
nssi Comprehensive Loss
ComprehensiveLoss
19656000 usd
nssi Comprehensive Loss
ComprehensiveLoss
15683000 usd
CY2024Q2 nssi Comprehensive Loss
ComprehensiveLoss
7428000 usd
CY2023Q2 nssi Comprehensive Loss
ComprehensiveLoss
5152000 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
10098241 shares
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
19583396 usd
nssi Weighted Average Price Per Share Common Stock Subject To Repurchase
WeightedAveragePricePerShareCommonStockSubjectToRepurchase
1.94
CY2024Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
373701 shares
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
688410 usd
CY2024Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
1.84
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
457445 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
870480 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
1.90
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.
CY2024Q2 nssi Value Of Remaining Shares That May Be Repurchased
ValueOfRemainingSharesThatMayBeRepurchased
3502225 usd
CY2024Q2 nssi Fdic Insured Amount
FdicInsuredAmount
250000 usd
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
262000 usd
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
19736000 usd
nssi Dividends Per Share
DividendsPerShare
0.05
nssi Dividends Per Share Annual
DividendsPerShareAnnual
0.10
us-gaap Dividends Cash
DividendsCash
1175000 usd

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