Network-1 Receives Three New Patents from U.S. Patent Office Expanding Its M2M/IoT Patent Portfolio to 16 Patents

New York, New York – June 19, 2018 – Network-1 Technologies, Inc. (NYSE AMERICAN: NTIP), a company engaged in the development, licensing and protection of intellectual property, announced today that the U.S. Patent and Trademark Office issued U.S. Patent No. 9,998,280 ("Secure PKI Communications for "Machine-To-Machine" Modules, Including Key Derivation By Modules and Authenticating Public Keys"), U.S. Patent No. 9,998,281 ("Set of Servers for "Machine-To-Machine" Communication Using Public key Infrastructure") and U.S. Patent No. 10,003,461 ("Power Management And Security For Wireless Modules in "Machine-to-Machine" Communications) to Network-1. The claims in the newly issued patents are generally directed towards methods of communication between Machine to Machine modules and servers.

 

The newly issued patents arise from a patent application contained in the M2M/IoT patent portfolio acquired by Network-1 in December 2017 (the "Portfolio"). The Portfolio relates to, among other things, the enabling technology for authenticating and using embedded SIM cards in next generation IoT, Machine-to-Machine, and other mobile devices, including smartphones, tablets and computers as well as automobiles and drones. With these latest issuances, the Nix Portfolio now includes sixteen (16) issued U.S. patents and six (6) pending U.S. patent applications, plus seven (7) additional pending non-U.S. patent applications. Network-1 anticipates further issuances of additional claims for this Portfolio.

 

ABOUT NETWORK-1 TECHNOLOGIES, INC.

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning Network-1's business plans. Such statements are subject to a number of risk factors and uncertainties as disclosed in the Network-1's Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission, including, among others, the material adverse effect on Network-1's business, results of operation and cash-flow if the District Court issues an order confirming the HP Jury Verdict and finding certain claims of the Remote Power Patent obvious (invalid) and Network-1 is unable to overturn the District Court order on appeal to the Federal Circuit, the risk that Network-1 will not continue to receive material royalty revenue from licensees of its Remote Power Patent, the uncertainty of Network-1's revenue stream, the ability of Network-1 to successfully execute its strategy to acquire high quality patents with significant licensing opportunities, Network‑1's ability to achieve revenue and profits from its Cox Patent Portfolio, its recently acquired M2M/IoT Patent Portfolio and additional revenue and profit from its Mirror Worlds Patent Portfolio as well as intellectual property it may acquire in the future, the ability of Network-1 to enter into additional license agreements, uncertainty as to whether cash dividends will continue be paid, the uncertainty of patent litigation and proceedings at the United States Patent and Trademark Office, the difficulty in Network-1 verifying royalty amounts owed to it by its licensees, Network-1's ability to enter into strategic relationships with third parties to license or otherwise monetize their intellectual property, the risk in the future of Network-1 being classified as a Personal Holding Company, future economic conditions and technology changes and legislative, regulatory and competitive developments. Except as otherwise required to be disclosed in periodic reports, Network-1 expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein.