FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOROWITZ COREY M
   2. Issuer Name and Ticker or Trading Symbol
NETWORK 1 SECURITY SOLUTIONS INC [NSSI-OTC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CEO and Chairman
(Last)
(First)
(Middle)
C/O CMH CAPITAL MANAGEMENT CORP., 445 PARK AVENUE, SUITE 1028		 3. Date of Earliest Transaction (Month/Day/Year)
03/11/2009
(Street)

NEW YORK, NY 10022		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to purchase common stock $ 0.68 03/11/2009   J   375,000   03/11/2009 02/28/2012 Common Stock 375,000 (1) 375,000 D  
Warrant to purchase common stock $ 0.68 03/11/2009   J   250,000   03/11/2009 10/08/2010 Common Stock 250,000 (1) 250,000 I See footnote (2)
Warrant to purchase common stock $ 0.68 03/11/2009   J   300,000   03/11/2009 07/11/2011 Common Stock 300,000 (1) 300,000 I See footnote (2)
Option to purchase common stock $ 0.68 03/11/2009   J   750,000   03/11/2009 04/18/2010 Common Stock 750,000 (1) 750,000 I See footnote (2)
Option to purchase common stock $ 0.68 03/11/2009   J   20,000   03/11/2009 10/20/2011 Common Stock 20,000 (1) 20,000 D  
Option to purchase common stock $ 0.68 03/11/2009   J   10,000   03/11/2009 06/22/2009 Common Stock 10,000 (1) 10,000 D  
Option to purchase common stock $ 0.68 03/11/2009   J   7,500   03/11/2009 10/25/2009 Common Stock 7,500 (1) 7,500 D  
Option to purchase common stock $ 0.68 03/11/2009   J   5,000   03/11/2009 09/19/2010 Common Stock 5,000 (1) 5,000 D  
Option to purchase common stock $ 0.68 03/11/2009   J   10,625   03/11/2009 01/19/2011 Common Stock 10,625 (1) 10,625 D  
Option to purchase common stock $ 0.68 03/11/2009   J   1,195,361   03/11/2009 03/16/2012 Common Stock 1,195,361 (1) 1,195,361 D  
Option to purchase common stock $ 0.68 03/11/2009   J   732,709   03/11/2009 04/16/2012 Common Stock 732,709 (1) 732,709 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOROWITZ COREY M
C/O CMH CAPITAL MANAGEMENT CORP.
445 PARK AVENUE, SUITE 1028
NEW YORK, NY 10022		   X   X   CEO and Chairman  
CMH CAPITAL MANAGEMENT CORP
445 PARK AVENUE
SUITE 1028
NEW YORK, NY 10021		     X    

Signatures

 By: /s/ Corey M. Horowitz   03/12/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The exercise price of the previously issued derivative security (option or warrant) was reduced to $0.68 per share by the Board of Directors on March 11, 2009.
(2) The options or warrants are owned by CMH Capital Management Corp., an entity in which the reporting person is the sole officer, director and stockholder.

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