Business Context and Reporting Period
Company: NETWORK-1 TECHNOLOGIES, INC. (NTIP)
Filing Type: Form 8-K (Current Report)
Report Date: October 1, 2024
Reporting Period: Specific event date of October 1, 2024
This filing reports a specific corporate event regarding intellectual property rather than a standard quarterly or annual financial reporting period.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This Form 8-K is limited to reporting a non-financial event and does not contain financial statements or performance metrics.
Material Changes
Intellectual Property Acquisition: On October 1, 2024, the U.S. Patent and Trademark Office issued U.S. Patent No. 12,107,587 to the company's wholly-owned subsidiary, HFT Solutions, LLC.
- Patent Title: Field Programmable Gate Array with Internal Phase-Locked Loop.
- Technology Focus: The patent covers clock domain management technology used in custom field-programmable gate array (FPGA) hardware.
- Application: Designed for high-frequency trading (HFT) firms to achieve critical transaction latency gains measured in nanoseconds.
Guidance, Outlook, and Risks
Management Commentary: The company highlights that this patent is part of its HFT patent portfolio, reinforcing its position in technologies that provide competitive advantages in trading systems where speed is critical.
Risks and Contingencies: The filing does not disclose new risks, contingencies, or unusual items beyond the standard context of patent issuance.
Guidance: No financial guidance or forward-looking outlook regarding revenue or earnings is provided in this document.
Investor Verification Checklist
- Verify the commercial viability and licensing potential of U.S. Patent No. 12,107,587.
- Confirm the status of the HFT Solutions, LLC subsidiary and its integration into the parent company's operations.
- Review the attached press release (Exhibit 99.1) for additional details on the patent's market application.
- Check subsequent filings for any financial impact or revenue recognition related to this patent.