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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 2, 2025
NETWORK-1 TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-15288 | 11-3027591 |
| (State or Other Jurisdiction | (Commission | (I.R.S. Employer |
| of Incorporation) | File Number) | Identification No.) |
65 Locust Avenue, Third Floor, New Canaan, Connecticut 06840
(Address of Principal Executive Offices) (Zip Code)
(203) 920-1055
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|
Common Stock, par value $0.01 per share |
NTIP |
NYSE American |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01 | Other Events. |
On April 2, 2025, Network-1 Technologies, Inc. announced that it had completed the acquisition of a patent portfolio related to several key advanced security technologies. The acquired patent portfolio includes eight (8) issued United States patents and one (1) international patent relating to, among other things, the enabling technology to support the interoperability of smart home IoT devices, advanced security against quantum computers and improvements in Internet transport layer security. The portfolio also includes eleven (11) pending U.S. patents and five (5) pending international patent applications. The patent portfolio was acquired from IoT and M2M Technologies, LLC, an intellectual property development company located in Evanston, Illinois.
A copy of the press release is attached as Exhibit 99.1.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit No. |
Description |
|
| 99.1 | ||
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document) |
| -2- |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NETWORK-1 TECHNOLOGIES, INC. | ||
| Dated April 4, 2025 | By: | /s/ Corey M. Horowitz |
|
Name: Corey M. Horowitz Title: Chairman and Chief Executive Officer |
||
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EXHIBIT99.1
FOR IMMEDIATE RELEASE
NETWORK-1 ANNOUNCES ACQUISITION OF PATENT PORTFOLIO
New York, New York - April 2, 2025 -- Network-1 Technologies, Inc. (NYSE American: NTIP), a company engaged in the acquisition, development, licensing and monetization of intellectual property, today announced the acquisition of a patent portfolio relating to several key advanced security technologies.
The acquired portfolio includes eight (8) issued United States patents and one (1) international patent relating to, among other things, the enabling technology to support the interoperability of smart home IoT devices, advanced security against quantum computers and The acquired portfolio includes eight (8) issued United States patents and one (1) international patent relating to, among other things, the enabling technology to support the interoperability of smart home IoT devices, advanced security against quantum computers and improvements in Internet transport layer security.
In addition to the granted United States patents, the portfolio also includes eleven (11) pending United States patent applications and five (5) pending international patent applications. The patents are based on a series of patent applications filed as early as 2018 and have patent terms extending into 2038. Network-1 anticipates continuing to prosecute the pending patent applications and plans on filing several new patent applications with the United States Patent and Trademark Office based on the inventions contemplated by the original patent filings.
The newly acquired patent portfolio was acquired from IoT Technologies and M2M Technologies, LLC, an intellectual property development company in Evanston, Illinois (“IOT”). The Managing Member of IOT is John Nix, an entrepreneur and established inventor, and CEO of Vobal Technologies, LLC. In 2016, Mr. Nix was recognized as “Creator of the Year” by the Intellectual Property Law Association of Chicago for his intellectual property related to embedded SIM technology. Mr. Nix earned B.S. in Physics from Davidson College, an MBA from Kellogg School of Management and a Masters in Engineering Management from Northwestern University.
ABOUT NETWORK-1 TECHNOLOGIES, INC.
Network-1 Technologies, Inc. is engaged in the acquisition, development, licensing and protection of its intellectual property and proprietary technologies. Network-1 works with inventors and patent owners to assist in the development and monetization of their patented technologies. Network-1 currently owns one hundred and fourteen (114) U.S. patents and seventeen (17) international patents covering various telecommunications and data networking technologies as well as technologies relating to document stream operating systems and the identification of media content. Network-1's current strategy includes efforts to monetize three patent portfolios (the Cox, M2M/IoT and HFT portfolios). Network-1’s strategy is to focus on acquiring and investing in high quality patents which management believes have the potential to generate significant licensing opportunities as Network-1 has achieved with respect to its Remote Power Patent and Mirror Worlds Patent Portfolio. Network-1’s Remote Power Patent has generated licensing revenue in excess of $188,000,000 from May 2007 through December 31, 2024. Network-1 has achieved licensing and other revenue of $47,150,000 through December 31, 2024 with respect to its Mirror Worlds Patent Portfolio.
Contacts:
Network-1 Technologies, Inc.
Corey M. Horowitz
(917) 692-0000