UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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
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| Item 8.01 | Other Events. |
On February 23, 2024, the Board of Directors of Network-1 Technologies, Inc. declared a semi-annual cash dividend of $0.05 per common share pursuant to its dividend policy. The semi-annual cash dividend of $0.05 per share is payable on March 29, 2024 to all common stockholders of record as of March 15, 2024. 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). |
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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: February 26, 2024 | By: | /s/ Corey M. Horowitz |
Name: Corey M. Horowitz Title: Chairman & Chief Executive Officer |
||
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Exhibit 99.1
FOR IMMEDIATE RELEASE
NETWORK-1 DECLARES SEMI-ANNUAL DIVIDEND
New Canaan, Connecticut February 23, 2024– Network-1 Technologies, Inc. (NYSE American: NTIP) today announced that its Board of Directors has declared a semi-annual cash dividend of $0.05 per common share pursuant to its dividend policy. The semi-annual cash dividend of $0.05 per share is payable on March 29, 2024 to all common stockholders of record as of March 15, 2024.
The dividend policy of Network-1 undergoes a periodic review by the Board of Directors and is subject to change at any time depending on the earnings of Network-1, its financial requirements and other factors existing at the time. Future declarations of semi-annual dividends and the establishment of future record and payment dates are subject to the final determination and discretion of the Board of Directors.
ABOUT NETWORK-1 TECHNOLOGIES, INC.
Network-1 Technologies, Inc. is engaged in the 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 ninety-nine (99) U.S. patents covering various telecommunications and data networking technologies as well as technologies relating to document stream operating systems, the identification of media content and high frequency trading. Network-1’s current strategy includes continuing to pursue licensing opportunities for its intellectual property. 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 $187,000,000 from May 2007 through September 30, 2023. Network-1 has achieved licensing and other revenue of $47,150,000 through September 30, 2023 with respect to its Mirror Worlds Patent Portfolio.
Corey M. Horowitz, Chairman and CEO
Network-1 Technologies, Inc.
(917) 692-0000
Cover |
Feb. 23, 2024 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Feb. 23, 2024 |
| Entity File Number | 001-15288 |
| Entity Registrant Name | NETWORK-1 TECHNOLOGIES, INC. |
| Entity Central Index Key | 0001065078 |
| Entity Tax Identification Number | 11-3027591 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 65 Locust Avenue, |
| Entity Address, City or Town | New Canaan |
| Entity Address, State or Province | CT |
| Entity Address, Postal Zip Code | 06840 |
| City Area Code | (203) |
| Local Phone Number | 920-1055 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, par value $0.01 per share |
| Trading Symbol | NTIP |
| Security Exchange Name | NYSEAMER |
| Entity Emerging Growth Company | false |