Network-1 Reports First Quarter 2023 Results
Network-1 Reports First Quarter 2023 Results
NEW CANAAN, CT / ACCESSWIRE / May 12, 2023 / Network-1 Technologies, Inc. (NYSE American:NTIP), a company engaged in the acquisition, development, licensing, and monetization of intellectual property assets, today announced financial results for the quarter ended March 31, 2023.
新嘉楠科技，CT/ACCESSWIRE/2023年5月12日/從事知識產權資產收購、開發、許可和貨幣化的Network-1 Technologies，Inc.(紐約證券交易所美國證券交易所代碼：NTIP)今天公佈了截至2023年3月31日的季度財務業績。
Network-1 had revenue of $537,000 for the three months ended March 31, 2023, as compared to no revenue for the three months ended March 31, 2022. The revenue of $537,000 for the three months ended March 31, 2023 was from the settlement of several lawsuits concerning Network-1's Remote Power Patent.
在截至2023年3月31日的三個月裡，Network-1的收入為53.7萬美元，而截至2022年3月31日的三個月沒有收入。截至2023年3月31日的三個月的收入為537,000美元，來自與網路一號S遠端電源專利相關的幾起訴訟的和解。
Network-1 reported a net loss of $623,000 or $0.03 per share basic and diluted for the three months ended March 31, 2023 compared with a net loss of $1,312,000 or $0.05 per share basic and diluted for the three months ended March 31, 2022.
Network-1報告截至2023年3月31日的三個月淨虧損623,000美元，或每股基本和攤薄虧損0.03美元，而截至2022年3月31日的三個月淨虧損1,312,000美元，或每股基本和攤薄虧損0.05美元。
At March 31, 2023, Network-1's principal sources of liquidity consisted of cash and cash equivalents and marketable securities of $46,839,000 and working capital of $45,902,000. Network-1 believes based on its current cash position that it will have sufficient cash to fund its operations for the foreseeable future.
於二零二三年三月三十一日，S網路的主要流動資金來源包括現金及現金等價物及有價證券46,839,000元，營運資金45,902,000元。Network-1認為，根據其目前的現金狀況，在可預見的未來，它將有足夠的現金為其運營提供資金。
To date, Network‐1 has invested an aggregate of $7,000,000 in ILiAD Biotechnologies, LLC, a privately held clinical stage biotechnology company dedicated to the prevention of human disease caused by Bordetella pertussis. On March 10, 2023, ILiAD announced a peer reviewed publication in The Lancet, which summarized its adult Phase 2b clinical study of BPZE1, its proprietary intranasal vaccine for the prevention of pertussis. At March 31, 2023, Network‐1 owned approximately 6.8% of the outstanding units of ILiAD on a non-fully diluted basis.
到目前為止，Network-1已經向伊利亞特生物技術公司投資了總計700萬美元。伊利亞特生物技術公司是一傢俬人持股的臨床階段生物技術公司，致力於預防由百日咳桿菌引起的人類疾病。2023年3月10日，伊利亞特在《柳葉刀》上發表了一篇同行評議的論文，總結了其成人2b期BPZE1臨床研究，BPZE1是其專有的預防百日咳的鼻內疫苗。截至2023年3月31日，Network-1在非完全稀釋的基礎上擁有伊利亞特公司約6.8%的未償還單位。
Since the inception of Network‐1's Share Repurchase Program through March 31, 2023, Network‐1 has repurchased an aggregate of 9,349,449 shares of its common stock at an aggregate cost of $18,060,296 (exclusive of commissions) or an average per share price of $1.93. Network‐1 repurchased 136,785 shares of its common stock during the three months ended March 31, 2023 at an aggregate cost of $302,202, or an average per share price of $2.21. At March 31, 2023, the dollar value of remaining shares that may be repurchased under the Share Repurchase Program was $3,095,688.
自S網路股份回購計劃實施至2023年3月31日，網路一號已累計回購9,349,449股普通股，總成本為18,060,296美元(不含佣金)，平均每股價格為1，93美元。Network-1在截至2023年3月31日的三個月中回購了136,785股普通股，總成本為302,202美元，或平均每股價格為2.21美元。截至2023年3月31日，根據股票回購計劃可能回購的剩餘股份的美元價值為3,095,688美元。
Network‐1 continues to pay dividends consistent with its dividend policy which consists of semi-annual cash dividends of $0.05 per share ($0.10 per share annually) which are anticipated to be paid in March and September of each year. On March 3, 2023, Network-1's Board of Directors declared a semi-annual cash dividend of $0.05 per share which was paid on March 31, 2023 to all shareholders of record as of March 15, 2023. Network-1's dividend policy undergoes a periodic review by the Board of Directors and is subject to change at any time depending upon Network-1's earnings, financial requirements and other factors existing at the time.
Network-1繼續支付與其股利政策一致的股息，包括每股0.05美元(每年每股0.10美元)的半年度現金股息，預計將在每年的3月和9月支付。2023年3月3日，網路一號S董事會宣佈，於2023年3月31日向截至2023年3月15日登記在冊的所有股東支付每股0.05美元的半年度現金股息。網路一號S的分紅政策由董事會定期審議，並可能根據當時存在的S網路收益、財務要求和其他因素隨時發生變化。
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-seven (97) U.S. patents and eight (8) 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 five patent portfolios (the Cox, M2M/IoT, HFT, Mirror Worlds and Remote Power Patent 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 $187,000,000 from May 2007 through March 31, 2023. Network-1 has achieved licensing and other revenue of $47,150,000 through March 31, 2023 with respect to its Mirror Worlds Patent Portfolio.
Network-1 Technologies公司簡介
Network-1 Technologies，Inc.致力於其知識產權和專有技術的開發、許可和保護。Network-1與發明者和專利所有者合作，協助他們的專利技術的開發和貨幣化。Network-1目前擁有97(97)項美國專利和8(8)項國際專利，涵蓋各種電信和數據網絡技術以及與文檔流作業系統和媒體內容識別相關的技術。S網路一號目前的戰略包括努力將五個專利組合(COX、M2M/IoT、HFT、鏡像世界和遠端電源專利組合)貨幣化。網路一號S的戰略是專注於收購和投資高質量的專利，管理層認為這些專利有可能創造大量的許可機會，就像網路一號在其遠端電源專利和鏡像世界專利組合方面所實現的那樣。從2007年5月到2023年3月31日，網路一號S遠端電源專利創造了超過1.87億美元的許可收入。截至2023年3月31日，Network-1在其Mirror Worlds專利組合方面實現了47,150,000美元的許可和其他收入。
Corey M. Horowitz, Chairman and CEO |
Network-1 Technologies, Inc. |
203-920-1055 |
科裡·M·霍洛維茨，董事長兼首席執行官 |
Network-1技術公司 |
203-920-1055 |
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, 2022 and its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 filed with the Securities and Exchange Commission including, among others, Network-1's uncertain revenue from licensing its intellectual property, uncertainty as to the outcome of pending litigation involving Network-1's Cox Patent Portfolio and Remote Power Patent, whether Network-1 will be successful in its appeal to the Federal Circuit of the District Court judgement of non-infringement dismissing Network-1's litigation against Facebook (now Meta Platforms, Inc.), the ability of Network-1 to successfully execute its strategy to acquire or make investments in high quality patents with significant licensing opportunities, Network-1's ability to achieve revenue and profits from its Cox Patent Portfolio, M2M/IoT Patent Portfolio, HFT Patent Portfolio and additional revenue and profit from its Mirror Worlds Patent Portfolio and Remote Power Patent as well as a return on its investment in ILiAD Biotechnologies, LLC or other intellectual property it may acquire or finance in the future, the ability of Network-1 to enter into additional license agreements, uncertainty as to whether cash dividends will continue be paid, 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 which may result in Network-1 issuing a special cash dividend to its stockholders, 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.
本新聞稿包含符合1995年“私人證券訴訟改革法”中“安全港”條款的前瞻性陳述。這些聲明涉及與第一網路S商業計劃有關的未來事件和條件。此類陳述會受到大量風險因素和不確定性的影響，這些風險和不確定性在提交給美國證券交易委員會的Network-1‘S截至2022年12月31日的10-K表格年度報告和截至2023年3月31日的季度Form 10-Q季度報告中披露，其中包括Network-1’S知識產權許可收入的不確定，涉及Network-1‘Cox專利組合和遠端電源專利的未決訴訟結果的不確定性。Network-1向聯盟巡迴地方法院上訴的判決是否會成功，Network-1對Facebook(現為Meta Platels，Inc.)的非侵權駁回S訴訟的判決，Network-1成功執行其戰略以收購或投資具有重大許可機會的高質量專利的能力，Network-1‘S從其COX專利組合、M2M/IoT專利組合、高頻交易專利組合以及從其Mirror Worlds專利組合和遠端電源專利中獲得的額外收入和利潤，以及其在Iliad BioTechnologies的投資回報，網路一號未來可能收購或融資的有限責任公司或其他知識產權，網路一號簽訂額外許可協定的能力，是否繼續支付現金股息的不確定性，網路一號S與第三方建立戰略關係以許可其知識產權或以其他方式貨幣化的能力，網路一號未來被歸類為個人控股公司的風險，這可能導致網路一號向其股東發放特別現金股息，未來的經濟狀況和技術變化，以及立法、監管和競爭方面的發展。除非在定期報告中另有要求披露，Network-1明確表示不承擔任何未來更新或修改本文中包含的任何前瞻性陳述的義務或承諾。
The unaudited condensed consolidated statements of operations and comprehensive loss and unaudited condensed consolidated balance sheets are attached.
隨附未經審核簡明綜合經營報表及全面虧損及未經審核簡明綜合資產負債表。
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(UNAUDITED)
簡明合併經營報表和全面虧損
(未經審計)
|
Three Months Ended March 31, |
||||||||
| 2023 | 2022 | |||||||
REVENUE |
$ | 537,000 | $ | - | ||||
OPERATING EXPENSES: |
||||||||
Costs of revenue |
151,000 | - | ||||||
Professional fees and related costs |
298,000 | 250,000 | ||||||
General and administrative |
781,000 | 572,000 | ||||||
Amortization of patents |
83,000 | 75,000 | ||||||
TOTAL OPERATING EXPENSES |
1,313,000 | 897,000 | ||||||
OPERATING LOSS |
(776,000 | ) | (897,000 | ) | ||||
OTHER INCOME (LOSS): |
||||||||
Interest and dividend income, net |
310,000 | 80,000 | ||||||
Net realized and unrealized gain (loss) on marketable securities |
364,000 | (514,000 | ) | |||||
Total other income (loss), net |
674,000 | (434,000 | ) | |||||
LOSS BEFORE INCOME TAXES AND EQUITY IN NET LOSSES OF EQUITY METHOD INVESTEE |
(102,000 | ) | (1,331,000 | ) | ||||
INCOME TAX PROVISION: |
||||||||
Current |
- | - | ||||||
Deferred taxes, net |
(153,000 | ) | (452,000 | ) | ||||
Total income tax benefit |
(153,000 | ) | (452,000 | ) | ||||
INCOME (LOSS) BEFORE SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE |
$ | 51,000 | $ | (879,000 | ) | |||
SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE |
$ | (674,000 | ) | $ | (433,000 | ) | ||
NET LOSS |
$ | (623,000 | ) | $ | (1,312,000 | ) | ||
Net loss per share: |
||||||||
Basic |
$ | (0.03 | ) | $ | (0.05 | ) | ||
Diluted |
$ | (0.03 | ) | $ | (0.05 | ) | ||
Weighted average common shares outstanding: |
||||||||
Basic |
23,866,821 | 23,909,115 | ||||||
Diluted |
23,866,821 | 23,909,115 | ||||||
Cash dividends declared per share |
$ | 0.05 | $ | 0.05 | ||||
NET LOSS |
$ | (623,000 | ) | $ | (1,312,000 | ) | ||
OTHER COMPREHENSIVE LOSS |
||||||||
Net unrealized holding loss on corporate bonds and notes during the period, net of tax |
- | (3,000 | ) | |||||
COMPREHENSIVE LOSS |
$ | (623,000 | ) | $ | (1,315,000 | ) | ||
|
截至三個月 3月31日， |
||||||||
| 2023年年 | 2022年 | |||||||
收入 |
$ | 537,000 | $ | - | ||||
運營費用： |
||||||||
收入成本 |
151,000人 | - | ||||||
專業費用及相關費用 |
298,000 | 250,000 | ||||||
一般和行政 |
781,000 | 572,000 | ||||||
專利的攤銷 |
83,000 | 75,000 | ||||||
總運營費用 |
1313,000人 | 89.7萬 | ||||||
營業虧損 |
(776,000) | ) | (897,000 | ) | ||||
其他收入(虧損)： |
||||||||
利息和股息收入，淨額 |
310,000 | 8萬 | ||||||
有價證券已實現和未實現淨收益(虧損) |
364,000 | (514,000 | ) | |||||
其他收入(虧損)合計，淨額 |
674,000 | (434,000) | ) | |||||
所得稅前虧損和權益法被投資人淨虧損中的權益 |
(102,000 | ) | (1,331,000) | ) | ||||
所得稅規定： |
||||||||
當前 |
- | - | ||||||
遞延稅金，淨額 |
(153,000 | ) | (452,000 | ) | ||||
所得稅優惠總額 |
(153,000 | ) | (452,000 | ) | ||||
權益法被投資人未攤銷淨虧損前收益(虧損) |
$ | 51,000 | $ | (879,000 | ) | |||
權益法被投資人淨虧損份額 |
$ | (674,000 | ) | $ | (433,000 | ) | ||
淨虧損 |
$ | (623,000 | ) | $ | (1312,000) | ) | ||
每股淨虧損： |
||||||||
基本資訊 |
$ | (0.03 | ) | $ | (0.05 | ) | ||
稀釋 |
$ | (0.03 | ) | $ | (0.05 | ) | ||
加權平均已發行普通股： |
||||||||
基本資訊 |
23,866,821 | 23,909,115 | ||||||
稀釋 |
23,866,821 | 23,909,115 | ||||||
宣佈的每股現金股息 |
$ | 0.05 | $ | 0.05 | ||||
淨虧損 |
$ | (623,000 | ) | $ | (1312,000) | ) | ||
其他綜合損失 |
||||||||
年內公司債券及票據的未實現持有虧損淨額 期間，扣除稅後的淨額 |
- | (3,000 | ) | |||||
綜合損失 |
$ | (623,000 | ) | $ | (1315,000) | ) | ||
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
CONDENSED CONSOLIDATED BALANCE SHEETS
(未經審計)
|
March 31,
2023
|
December 31,
2022
|
|||||||
ASSETS |
||||||||
CURRENT ASSETS: |
||||||||
Cash and cash equivalents |
$ | 9,919,000 | $ | 13,448,000 | ||||
Marketable securities, at fair value |
36,920,000 | 34,991,000 | ||||||
Prepaid taxes |
177,000 | 177,000 | ||||||
Other current assets |
119,000 | 348,000 | ||||||
TOTAL CURRENT ASSETS |
47,135,000 | 48,964,000 | ||||||
OTHER ASSETS: |
||||||||
Patents, net of accumulated amortization |
1,509,000 | 1,592,000 | ||||||
Equity investment |
6,578,000 | 7,252,000 | ||||||
Operating leases right of - use asset |
145,000 | 161,000 | ||||||
Security deposits |
13,000 | - | ||||||
Total Other Assets |
8,245,000 | 9,005,000 | ||||||
TOTAL ASSETS |
$ | 55,380,000 | $ | 57,969,000 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY: |
||||||||
CURRENT LIABILITIES: |
||||||||
Accounts payable |
$ | 601,000 | $ | 507,000 | ||||
Income taxes payable |
115,000 | 115,000 | ||||||
Accrued contingency fees and related costs |
96,000 | - | ||||||
Accrued payroll |
139,000 | 317,000 | ||||||
Other accrued expenses |
203,000 | 587,000 | ||||||
Operating lease obligation, current |
79,000 | 79,000 | ||||||
Total Current Liabilities |
1,233,000 | 1,605,000 | ||||||
LONG TERM LIABILITIES: |
||||||||
Deferred tax liability |
1,008,000 | 1,161,000 | ||||||
Operating lease obligation, non-current |
77,000 | 94,000 | ||||||
TOTAL LIABILITIES |
$ | 2,318,000 | $ | 2,860,000 | ||||
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, 2023 and December 31, 2022 |
- | - | ||||||
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,811,505 and 23,863,639 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively |
239,000 | 239,000 | ||||||
Additional paid-in capital |
67,099,000 | 66,939,000 | ||||||
Accumulated deficit |
(14,262,000 | ) | (12,055,000 | ) | ||||
Accumulated other comprehensive loss |
(14,000 | ) | (14,000 | ) | ||||
TOTAL STOCKHOLDERS' EQUITY |
53,062,000 | 55,109,000 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ | 55,380,000 | $ | 57,969,000 | ||||
|
3月31日，
2023年年
|
十二月三十一日，
2022年
|
|||||||
資產 |
||||||||
流動資產： |
||||||||
現金和現金等價物 |
$ | 9919,000 | $ | 13,448,000人 | ||||
按公允價值出售的有價證券 |
36920,000 | 34,991,000 | ||||||
預付稅金 |
177,000人 | 177,000人 | ||||||
其他流動資產 |
119,000人 | 348,000 | ||||||
流動資產總額 |
47,135,000 | 48,964,000 | ||||||
其他資產： |
||||||||
專利，累計攤銷淨額 |
1,509,000 | 1592,000 | ||||||
股權投資 |
6,578,000 | 7,252,000 | ||||||
經營性租賃使用權資產 |
145,000 | 161,000 | ||||||
證券保證金 |
13,000 | - | ||||||
其他資產總額 |
8,245,000 | 9,005,000 | ||||||
總資產 |
$ | 55,380,000 | $ | 57,969,000 | ||||
負債和股東權益： |
||||||||
流動負債： |
||||||||
應付帳款 |
$ | 601,000 | $ | 507,000 | ||||
應付所得稅 |
115,000人 | 115,000人 | ||||||
應計或有費用和相關費用 |
96,000 | - | ||||||
應計工資總額 |
139,000,000 | 317,000人 | ||||||
其他應計費用 |
203,000 | 58.7萬 | ||||||
經營租賃債務，當期 |
79,000 | 79,000 | ||||||
流動負債總額 |
1,233,000 | 1,605,000 | ||||||
長期負債： |
||||||||
遞延稅項負債 |
1,008,000 | 1,161,000 | ||||||
非流動經營租賃債務 |
77,000 | 94,000人 | ||||||
總負債 |
$ | 2318,000人 | $ | 2860,000 | ||||
承付款和或有事項(附註G) |
||||||||
股東權益 |
||||||||
優先股，面值0.01美元，授權發行1000萬股； 截至2023年3月31日，均未發行和未償還 2022年年12月31日 |
- | - | ||||||
普通股，面值0.01美元；授權股份50,000,000股； 23,811,505股及23,863,639股已發行及流通股 2023年3月31日和2022年12月31日 |
239,000人 | 239,000人 | ||||||
額外實收資本 |
67,099,000 | 66,939,000 | ||||||
累計赤字 |
(14,262,000 | ) | (12,055,000 | ) | ||||
累計其他綜合損失 |
(14,000 | ) | (14,000 | ) | ||||
股東權益總額 |
53,062,000 | 55,109,000 | ||||||
總負債和股東權益 |
$ | 55,380,000 | $ | 57,969,000 | ||||
SOURCE: Network-1 Technologies, Inc.
資料來源：Network-1技術公司
譯文內容由第三人軟體翻譯。