$NTIP
NETWORK-1 TECHNOLOGIES, INC.

2024 Q4 Form 10-Q Financial Statement

#000107261324000782 Filed on October 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $788.0K
YoY Change 4.23%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.00K
YoY Change -13.41%
% of Gross Profit
Operating Expenses $896.0K $859.0K
YoY Change 4.31% 2.51%
Operating Profit -$896.0K -$859.0K
YoY Change 4.31% 2.51%
Interest Expense $537.0K
YoY Change -85.79%
% of Operating Profit
Other Income/Expense, Net $537.0K
YoY Change -86.74%
Pretax Income -$322.0K
YoY Change -110.02%
Income Tax -$71.00K -$44.00K
% Of Pretax Income
Net Earnings -$316.0K -$810.0K
YoY Change -60.99% -136.39%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01 -$0.03
Diluted Earnings Per Share -$0.01 -$0.03
COMMON SHARES
Basic Shares Outstanding 23.04M shares 23.14M shares 23.76M shares
Diluted Shares Outstanding 23.13M shares 23.80M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.57M
YoY Change -8.9%
Cash & Equivalents $14.32M $20.89M
Short-Term Investments $23.68M
Other Short-Term Assets $141.0K $41.00K
YoY Change 243.9% -62.04%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $41.66M $44.92M
YoY Change -7.26% -9.01%
LONG-TERM ASSETS
Property, Plant & Equipment $16.00K
YoY Change -90.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.636M $5.655M
YoY Change -35.7% -26.18%
Other Assets $13.00K
YoY Change 0.0%
Total Long-Term Assets $4.928M $7.040M
YoY Change -30.0% -26.1%
TOTAL ASSETS
Total Short-Term Assets $41.66M $44.92M
Total Long-Term Assets $4.928M $7.040M
Total Assets $46.59M $51.96M
YoY Change -10.34% -11.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $371.0K $250.0K
YoY Change 48.4% -28.16%
Accrued Expenses $374.0K
YoY Change -18.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $599.0K $650.0K
YoY Change -7.85% -19.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $599.0K $650.0K
Total Long-Term Liabilities $0.00
Total Liabilities $1.006M $1.533M
YoY Change -34.38% -19.27%
SHAREHOLDERS EQUITY
Retained Earnings -$22.41M -$17.14M
YoY Change 30.76% 71.45%
Common Stock $231.0K $236.0K
YoY Change -2.12% -0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $45.58M $50.42M
YoY Change
Total Liabilities & Shareholders Equity $46.59M $51.96M
YoY Change -10.34% -11.78%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$316.0K -$810.0K
YoY Change -60.99% -136.39%
Depreciation, Depletion And Amortization $71.00K
YoY Change -13.41%
Cash From Operating Activities -$200.0K
YoY Change -65.03%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $6.024M
YoY Change -347.39%
Cash From Investing Activities $6.024M
YoY Change -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 -1.553M
YoY Change 14.11%
NET CHANGE
Cash From Operating Activities -200.0K
Cash From Investing Activities 6.024M
Cash From Financing Activities -1.553M
Net Change In Cash 4.271M
YoY Change -197.78%
FREE CASH FLOW
Cash From Operating Activities -$200.0K
Capital Expenditures $0.00
Free Cash Flow -$200.0K
YoY Change -65.03%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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2024
dei Document Fiscal Period Focus
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dei Entity File Number
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dei Entity Registrant Name
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NETWORK-1 TECHNOLOGIES, INC.
dei Entity Incorporation State Country Code
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DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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dei Entity Address Address Line1
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65 Locust Avenue
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ProfitLoss
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121000 usd
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TreasuryStockPurchasedAndRetired
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RealizedLossOnCorporateBonds
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StockholdersEquity
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StockholdersEquity
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us-gaap Net Income Loss
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us-gaap Share Based Compensation
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DeferredOtherTaxExpenseBenefit
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nssi Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
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131000 usd
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NetCashProvidedByUsedInOperatingActivities
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nssi Sales Of Marketable Securities
SalesOfMarketableSecurities
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nssi Sales Of Marketable Securities
SalesOfMarketableSecurities
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us-gaap Payments To Acquire Marketable Securities
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NetCashProvidedByUsedInInvestingActivities
1614000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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ValueOfSharesDeliveredToFundPaymentOfWithholdingTaxes
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nssi Value Of Shares Delivered To Fund Payment Of Withholding Taxes
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1083000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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7438000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16896000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13448000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14315000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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IncomeTaxesPaidNet
67000 usd
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AccruedDividendRightsOnRestrictedStockUnits
59000 usd
nssi Accrued Dividend Rights On Restricted Stock Units
AccruedDividendRightsOnRestrictedStockUnits
22000 usd
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RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
75000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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us-gaap Nature Of Operations
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<p id="xdx_808_eus-gaap--NatureOfOperations_zSIXvPn5TB7j" 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_826_zVniqHMT3i2i">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 September 30, 2024, and the results of its operations and comprehensive loss and its changes in stockholders’ equity for the three and nine months periods ended September 30, 2024 and September 30, 2023, and the statement of cash flows for the nine months ended September 30, 2024 and September 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 nine months ended September 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: 0 0 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Mirror Worlds Technologies, LLC and HFT Solutions, LLC. All intercompany balances and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 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 four (<span id="xdx_901_eus-gaap--GainContingencyPatentsFoundInfringedUponNumber_uInteger_c20240101__20240930_zITWsqFWKAr1" title="U.S. Patents owned by the company">104</span>) U.S. patents, fifty-four (<span id="xdx_90D_ecustom--ExpiredPatents_uInteger_c20240101__20240930_zcOYx05CygVl" title="Expired patents">54</span>) of such patents have expired, and sixteen (<span id="xdx_905_ecustom--ForeignPatentsOwnedByCompany_uInteger_c20240101__20240930_zbP9VMeEwvW2" 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: 0pt 0pt 6pt; 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 0pt 0pt; 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_908_eus-gaap--Investments_iI_pp0p0_c20240930__dei--LegalEntityAxis__custom--ILiADBiotechnologiesLLCMember_zJQ0uLLsnaO7" title="Aggregate investment amount">7,000,000</span> in ILiAD Biotechnologies, LLC (“ILiAD”), a clinical stage biotechnology company (see Note J hereof).</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p>
us-gaap Gain Contingency Patents Found Infringed Upon Number
GainContingencyPatentsFoundInfringedUponNumber
104 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_849_eus-gaap--UseOfEstimates_zxR1so0IWE3e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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: 47pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>[1]</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zAG3fUz03pvf">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: 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>
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us-gaap Revenues
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Amortization Of Financing Costs
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120000 usd
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119000 usd
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FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
731000 usd
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FiniteLivedIntangibleAssetsNet
1236000 usd
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1.81
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.38
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
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DividendEquivalentRights
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23803567 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
23337716 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23867204 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
23126480 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
23803567 shares
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RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
495000 shares
nssi Restricted Stock Units Excluded From Computation Of Diluted Loss Per Share Because Effect Of Inclusion Would Have Been Antidilutive
RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
598750 shares
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RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
495000 shares
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RestrictedStockUnitsExcludedFromComputationOfDilutedLossPerShareBecauseEffectOfInclusionWouldHaveBeenAntidilutive
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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
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0.15 pure
CY2022Q1 nssi Greater Than50 Million
GreaterThan50Million
0.175 pure
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ObligatedToPaySellerNetProceedPercentage
0.125 pure
CY2024Q3 nssi First125 Million
First125Million
0.10 pure
CY2024Q3 nssi Next125 Million
Next125Million
0.15 pure
CY2024Q3 nssi Over250 Million
Over250Million
0.20 pure
nssi Recognition Net Proceeds Payment Related To Mirror Worlds Patents
RecognitionNetProceedsPaymentRelatedToMirrorWorldsPatents
3127000 usd
CY2024Q3 nssi First100
First100
0.14 pure
CY2024Q3 nssi Next100
Next100
0.05 pure
CY2024Q3 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
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
40000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
23000 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
18000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
20000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
45000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
59000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
18000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
24000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
42000 usd
CY2024Q3 nssi Operating Leases Imputed Interest
OperatingLeasesImputedInterest
-2000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
40000 usd
CY2022Q1 nssi Ceo Incentive Compensation Of License Revenue Remote Power Patent1
CeoIncentiveCompensationOfLicenseRevenueRemotePowerPatent1
0.05 pure
CY2022Q1 nssi Ceo Incentive Compensation Of License Revenue Remote Power Patent
CeoIncentiveCompensationOfLicenseRevenueRemotePowerPatent
0.0625 pure
CY2024Q3 us-gaap Salaries And Wages
SalariesAndWages
0 usd
us-gaap Salaries And Wages
SalariesAndWages
5000 usd
CY2023Q3 us-gaap Salaries And Wages
SalariesAndWages
0 usd
us-gaap Salaries And Wages
SalariesAndWages
41000 usd
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
2701000 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
-25013000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-17929000 usd
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-4940000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-8232000 usd
nssi Comprehensive Loss
ComprehensiveLoss
-24409000 usd
nssi Comprehensive Loss
ComprehensiveLoss
-23525000 usd
CY2024Q2 nssi Comprehensive Loss
ComprehensiveLoss
-4754000 usd
CY2023Q2 nssi Comprehensive Loss
ComprehensiveLoss
-7842000 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
10217856 shares
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
19772820 usd
nssi Weighted Average Price Per Share Common Stock Subject To Repurchase
WeightedAveragePricePerShareCommonStockSubjectToRepurchase
1.94
CY2024Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
119615 shares
CY2024Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
189424 usd
CY2024Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
1.58
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
577060 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1059904 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
1.84
CY2022Q3 nssi Excise Tax Description
ExciseTaxDescription
The excise tax applies in cases where the total value of the stock repurchased during the taxable year exceeds $1,000,000.
CY2024Q3 nssi Excise Tax Payable Current
ExciseTaxPayableCurrent
8000 usd
nssi Excise Tax Payable Current
ExciseTaxPayableCurrent
8000 usd
CY2024Q3 nssi Value Of Remaining Shares That May Be Repurchased
ValueOfRemainingSharesThatMayBeRepurchased
3312801 usd
CY2024Q3 nssi Fdic Insured Amount
FdicInsuredAmount
250000 usd
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
809000 usd
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
13296000 usd
nssi Dividends Per Share
DividendsPerShare
0.05
nssi Dividends Per Share Annual
DividendsPerShareAnnual
0.10

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exh31-1_18891.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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network1_10q-093024.htm Edgar Link pending
nssi-20240930.xsd Edgar Link pending
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nssi-20240930_cal.xml Edgar Link unprocessable
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network1_10q-093024_htm.xml Edgar Link completed
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