Network-1 Technologies, Inc.

Financials

v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (March 31, 2025 UNAUDITED) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 12,288,000 $ 13,145,000
Marketable securities, at fair value 26,905,000 27,455,000
Other current assets 194,000 232,000
  TOTAL CURRENT ASSETS 39,387,000 40,832,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,589,000 1,205,000
Equity investment 2,875,000 3,337,000
Operating leases right-of-use asset 7,000 27,000
Security deposit 13,000 13,000
  Total Other Assets 4,484,000 4,582,000
  TOTAL ASSETS 43,871,000 45,414,000
CURRENT LIABILITIES:    
Accounts payable 706,000 203,000
Accrued payroll 8,000 292,000
Other accrued expenses 223,000 247,000
Operating lease obligations 7,000 24,000
  Total Current Liabilities 944,000 766,000
  LONG TERM LIABILITIES:    
       Deferred tax liability 226,000 337,000
  TOTAL LIABILITIES 1,170,000 1,103,000
    COMMITMENTS AND CONTINGENCIES (Note G)
  STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at March 31, 2025 and December 31, 2024
Common stock, $0.01 par value; authorized 50,000,000 shares; 22,882,109 and 22,961,619 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 228,000 229,000
Additional paid-in capital 64,365,000 65,455,000
Accumulated deficit (21,892,000) (21,373,000)
TOTAL STOCKHOLDERS’ EQUITY 42,701,000 44,311,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 43,871,000 $ 45,414,000

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v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
REVENUE $ 150,000
OPERATING EXPENSES:    
Costs of revenue 42,000
Professional fees and related costs 121,000 219,000
General and administrative 602,000 669,000
Amortization of patents 30,000 30,000
TOTAL OPERATING EXPENSES 795,000 918,000
OPERATING LOSS (645,000) (918,000)
OTHER INCOME:    
Interest and dividend income, net 484,000 431,000
Net realized and unrealized gain on marketable securities 149,000 48,000
Total other income, net 633,000 479,000
LOSS BEFORE INCOME TAXES AND EQUITY IN NET LOSSES OF EQUITY METHOD INVESTEE (12,000) (439,000)
INCOME TAX PROVISION:    
Current
Deferred taxes, net (111,000) (147,000)
Total income taxes benefit (111,000) (147,000)
INCOME (LOSS) BEFORE SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE 99,000 (292,000)
SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE (462,000) (628,000)
NET LOSS $ (363,000) $ (920,000)
Net loss per share:    
Basic $ (0.02) $ (0.04)
Diluted $ (0.02) $ (0.04)
Weighted average common shares outstanding:    
Basic 22,914,799 23,540,468
Diluted 22,914,799 23,540,468
Cash dividends declared per share $ 0.05 $ 0.05

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v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (363,000) $ (920,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of patents 30,000 30,000
Stock-based compensation 81,000 115,000
Loss allocated from equity method investment 462,000 628,000
Deferred tax benefit (111,000) (147,000)
Amortization of right of use asset 20,000 16,000
Unrealized loss (gain) on marketable net securities (149,000) 20,000
Changes in operating asset and liabilities:    
Other current assets 38,000 (12,000)
Accounts payable 503,000 181,000
Operating lease obligations (17,000) (17,000)
Accrued expenses (335,000) (490,000)
  NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES 159,000 (596,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 4,199,000 5,756,000
Purchases of marketable securities (3,500,000) (2,494,000)
Acquisition of patents (414,000)
NET CASH PROVIDED BY INVESTING ACTIVITIES 285,000 3,262,000
  CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,144,000) (1,210,000)
Value of shares delivered to fund payment of withholding taxes (7,000) (61,000)
Repurchases of common stock, inclusive of commissions (150,000) (186,000)
NET CASH USED IN FINANCING ACTIVITIES: (1,301,000) (1,457,000)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (857,000) 1,209,000
CASH AND CASH EQUIVALENTS, beginning of period 13,145,000 16,896,000
CASH AND CASH EQUIVALENTS, end of period 12,288,000 18,105,000
Cash paid during the period for:    
Interest
Income taxes
NON-CASH FINANCING ACTIVITIES    
Accrued dividend rights on restricted stock units 27,000 32,000
Right of use asset and lease liability $ 75,000

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