Network-1 Technologies Inc 2025年度报告

FORM 10-K Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required tobe submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’sassessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-OxleyAct (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatementsof the registrant included in this filing reflect the correction of an error to previously issued financial Indicate by check mark whether any of those error corrections are restatements that required a recovery analysisof incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery periodpursuant to §240.10D.1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☒ The aggregate market value of the voting and non-voting common stock held by non-affiliates computed byreference to the price at which the common stock was last sold as of June 30, 2025 was approximately $ 18,790,004based on the closing price as reported on NYSE American Exchange.Shares of voting stock held by each officer anddirector and by each person, who as of June 30, 2025, the last business day of the Registrant’s most recently completed The number of shares outstanding of Registrant's common stock as of March 9, 2026 was 22,793,308. TABLE OF CONTENTS PART I Item 1.BusinessItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Mine Safety Disclosures PART II Item5.Market For Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities21 PART III Item 10.Directors, Executive Officers and Corporate Governance31Item 11.Executive Compensation36Item 12.Security Ownership of Certain Beneficial Owners and Managementand RelatedStockholder Matters41Item 13.Certain Relationships and Related Transactions and Director Independence43Item 14.Principal Accountant Fees and Services43 PART IV Item 15.Exhibits and Financial Statement Schedules PART I Forward-looking statements: THIS ANNUAL REPORT ON FORM 10-K CONTAINS STATEMENTS ABOUT FUTURE EVENTS AND EXPECTATIONSWHICH ARE “FORWARD-LOOKING STATEMENTS”. ANY STATEMENT IN THIS 10-K THAT IS NOT A STATEMENT OFHISTORICAL FACT MAY BE DEEMED TO BE A FORWARD-LOOKING STATEMENT WITHIN THE MEANING OFSECTION27A OF THE SECURITIES EXCHANGE ACT OF 1933, AS AMENDED,OR SECTION 21E OF THESECURITIES EXCHANGE ACT OF 1934,ASAMENDED.FORWARD-LOOKING STATEMENTS PROVIDE CURRENTEXPECTATIONS OF FUTURE EVENTS BASED ON CERTAIN ASSUMPTIONS AND INCLUDE ANY STATEMENT THATDOES NOT DIRECTLY RELATE TO ANY HISTORICAL OR CURRENT FACT. STATEMENTS CONTAINING SUCHWORDS AS “MAY,” “WILL,” “EXPECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “COULD,” “ESTIMATE,” “CONTINUE” OR“PLAN”AND SIMILAR EXPRESSIONS OR VARIATIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKINGSTATEMENTS.THESE STATEMENTS ARE BASED ON THE BELIEFS AND ASSUMPTIONS OF OUR MANAGEMENT ITEM Our principal business is the development, licensing and protection of our intellectual property assets. Wepresently own one hundred nineteen (119) U.S. patents, fifty-four (54) of such patents have expired, and fifteen (15)foreign patents (unexpired) relating to (i) our M2M/IoT patent portfolio relating to, among other things, enabling technology patent portfolio covering certain advanced technologies relating to high frequency trading, which inventions specificallyaddress technological problems associated with speed and latency and provide critical latency gains in trading systems.(“HFT Patent Portfolio”); and (iii) our Cox patent portfolio relating to enabling technology for identifying media content onthe Internet and taking further action to be performed after such identification (“Cox Patent Portfolio”); (iv) our smart homepatent portfolio relating to, among other things, the enabling technology to support the interoperability of smart home IoTdevices (“Smart