Network-1 Receives Three New Patents from U.S. Patent Office Expanding Its M2M/IoT Patent Portfolio to 16 Patents
June 19 2018 - 4:30PM
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.
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 fifty-five
(55) 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 continuing to pursue
licensing opportunities for its Remote Power Patent and its efforts
to monetize three patent portfolios (the Cox and Mirror Worlds
patent portfolios and the recently acquired M2M/IoT patent
portfolio). Network-1’s acquisition strategy is to focus on
acquiring 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 $141,000,000 from May 2007
through March 31, 2018. Network-1 has achieved licensing and other
revenue of $47,150,000 through March 31, 2018 with respect to its
Mirror Worlds Patent Portfolio.
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.
Corey M. Horowitz, Chairman and CEONetwork-1
Technologies, Inc.(212) 829-5770
Network 1 Technologies (AMEX:NTIP)
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