Network-1(US:NTIP)2024-05-10 20:34Revenue Performance - The company reported no revenue for the three months ended March 31, 2024, compared to $537,000 for the same period in 2023, primarily from litigation settlements involving the Remote Power Patent[104]. - Licensing revenue from the Remote Power Patent exceeded $188,000,000 from May 2007 to March 31, 2024, but no revenue has been generated since the patent's expiration on March 7, 2020[96]. Operating Expenses - Operating expenses decreased to $918,000 for the three months ended March 31, 2024, down from $1,313,000 in the same period of 2023, reflecting a reduction in costs associated with litigation settlements and professional fees[105]. Net Loss - The company recognized a net loss of $920,000 or $0.04 per share for the three months ended March 31, 2024, compared to a net loss of $623,000 or $0.03 per share for the same period in 2023, attributed to the absence of revenue[111]. Cash and Investments - Cash and cash equivalents, along with marketable securities, totaled $43,394,000 as of March 31, 2024, with working capital decreasing to $43,067,000 from $44,850,000 at December 31, 2023[94][114]. - The company has invested $7,000,000 in ILiAD, a clinical stage biotechnology company, which holds an exclusive license to 70 patents, with ongoing risks associated with this investment[95]. Interest and Gains - Interest and dividend income increased to $431,000 for the three months ended March 31, 2024, compared to $310,000 for the same period in 2023, due to higher interest rates[107]. - The company recorded realized and unrealized gains on marketable securities of $48,000 for the three months ended March 31, 2024, down from $364,000 for the same period in 2023[108]. Future Plans - The company plans to continue its licensing efforts and seeks to acquire additional intellectual property assets to enhance monetization opportunities[98].