Network-1 (NTIP) 10-Q 16 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 12, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	1-15288
Entity Registrant Name	NETWORK-1 TECHNOLOGIES, INC.
Entity Central Index Key	0001065078
Entity Tax Identification Number	11-3027591
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	65 Locust Avenue
Entity Address, City or Town	New Canaan
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06840
City Area Code	203
Local Phone Number	920-1055
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NTIP
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,883,024

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 42,459,000	$ 44,497,000
Marketable securities, at fair value	14,076,000	15,126,000
Other current assets	111,000	150,000
TOTAL CURRENT ASSETS	56,646,000	59,773,000
OTHER ASSETS:
Patents, net of accumulated amortization	1,833,000	1,384,000
Equity investment	2,218,000	2,651,000
Convertible note investment	1,000,000	1,000,000
Security deposits	13,000	13,000
Total other assets	5,064,000	5,048,000
TOTAL ASSETS	61,710,000	64,821,000
CURRENT LIABILITIES:
Income taxes payable	2,952,000	2,952,000
Accounts payable	490,000	459,000
Accrued contingency fees and related costs	147,000	137,000
Accrued payroll	161,000	380,000
Other accrued expenses	261,000	180,000
Total current liabilities	4,011,000	4,108,000
LONG TERM LIABILITIES:
Deferred tax liability	102,000	554,000
TOTAL LIABILITIES	4,113,000	4,662,000
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at March 31, 2022 and December 31, 2021
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,883,024 and 23,792,212 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	239,000	238,000
Additional paid-in capital	66,415,000	66,361,000
Accumulated deficit	(9,042,000)	(6,428,000)
Accumulated other comprehensive loss	(15,000)	(12,000)
TOTAL STOCKHOLDERS’ EQUITY	57,597,000	60,159,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 61,710,000	$ 64,821,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	23,883,024	23,792,212
Common Stock, Shares, Outstanding	23,883,024	23,792,212

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
REVENUE		$ 18,692,000
OPERATING EXPENSES:
Costs of revenue		5,420,000
Professional fees and related costs	250,000	355,000
General and administrative	517,000	513,000
Amortization of patents	75,000	74,000
Stock-based compensation	55,000	59,000
TOTAL OPERATING EXPENSES	897,000	6,421,000
OPERATING (LOSS) INCOME	(897,000)	12,271,000
OTHER (LOSS) INCOME:
Interest and dividend income, net	80,000	50,000
Net realized and unrealized loss on marketable securities	(514,000)	(46,000)
Total other (loss) income, net	(434,000)	4,000
(LOSS) INCOME BEFORE INCOME TAXES AND EQUITY IN NET LOSSES OF EQUITY METHOD INVESTEE	(1,331,000)	12,275,000
INCOME TAX PROVISION:
Current		890,000
Deferred taxes, net	(452,000)	1,724,000
Total income tax (benefit) expense	(452,000)	2,614,000
(LOSS) INCOME BEFORE SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE	(879,000)	9,661,000
SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE	(433,000)	(210,000)
NET (LOSS) INCOME	$ (1,312,000)	$ 9,451,000
Net (loss) income per share:
Basic	$ (0.05)	$ 0.39
Diluted	$ (0.05)	$ 0.38
Weighted average common shares outstanding:
Basic	23,909,115	24,107,879
Diluted	23,909,115	24,616,379
Cash dividends declared per share	$ 0.05	$ 0.05
NET (LOSS) INCOME	$ (1,312,000)	$ 9,451,000
OTHER COMPREHENSIVE (LOSS) INCOME
Net unrealized holding (loss) gain on corporate bonds and notes during the period, net of tax	(3,000)	11,000
COMPREHENSIVE (LOSS) INCOME	$ (1,315,000)	$ 9,462,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (UNAUDITED) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance – December 31, 2020 at Dec. 31, 2020	$ 241,000	$ 66,124,000	$ (17,193,000)	$ (10,000)	$ 49,162,000
Beginning Balance, Shares at Dec. 31, 2020	24,105,879
Dividends and dividend equivalents declared			(1,216,000)		(1,216,000)
Stock-based compensation		59,000			59,000
Vesting of restricted stock units
Vesting of restricted stock units, shares	11,250
Net unrealized gain on corporate bonds and notes				11,000	11,000
Net income			9,451,000		9,451,000
Balance – March 31, 2021 at Mar. 31, 2021	$ 241,000	66,183,000	(8,958,000)	1,000	57,467,000
Ending Balance, Shares at Mar. 31, 2021	24,117,129
Balance – December 31, 2020 at Dec. 31, 2021	$ 238,000	66,361,000	(6,428,000)	(12,000)	60,159,000
Beginning Balance, Shares at Dec. 31, 2021	23,792,212
Dividends and dividend equivalents declared			(1,190,000)		(1,190,000)
Stock-based compensation		55,000			55,000
Vesting of restricted stock units	$ 1,000	(1,000)
Vesting of restricted stock units, shares	136,250
Value of shares delivered to pay withholding taxes			(112,000)		(112,000)
Value of shares delivered to pay withholding taxes, Shares	(45,438)
Net unrealized gain on corporate bonds and notes				(3,000)	(3,000)
Net income			(1,312,000)		(1,312,000)
Balance – March 31, 2021 at Mar. 31, 2022	$ 239,000	$ 66,415,000	$ (9,042,000)	$ (15,000)	$ 57,597,000
Ending Balance, Shares at Mar. 31, 2022	23,883,024

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (1,312,000)	$ 9,451,000
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Amortization of patents	75,000	74,000
Stock-based compensation	55,000	59,000
Loss from equity investment	433,000	210,000
Unrealized loss on marketable securities	510,000	23,000
Deferred tax expense (benefit)	(452,000)	1,724,000
Changes in operating asset and liabilities:
Royalty receivables		(18,692,000)
Other current assets	39,000	32,000
Income taxes payable		890,000
Security deposit		8,000
Accounts payable	31,000	(232,000)
Accrued expenses	(128,000)	5,078,000
NET CASH USED IN OPERATING ACTIVITIES	(749,000)	(1,375,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales of marketable securities	1,100,000	4,499,000
Purchases of marketable securities	(563,000)	(2,293,000)
Development of patents	(524,000)	(8,000)
Convertible note investment		(1,000,000)
NET CASH PROVIDED BY INVESTING ACTIVITIES	13,000	1,198,000
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(1,190,000)	(1,206,000)
Value of shares delivered to fund withholding taxes	(112,000)
NET CASH USED IN FINANCING ACTIVITIES:	(1,302,000)	(1,206,000)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(2,038,000)	(1,383,000)
CASH AND CASH EQUIVALENTS, beginning of period	44,497,000	25,505,000
CASH AND CASH EQUIVALENTS, end of period	42,459,000	24,122,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest
Income taxes
NON-CASH FINANCING ACTIVITY
Accrued dividend rights on restricted stock units		$ 10,000

BASIS OF PRESENTATION AND NATUR

BASIS OF PRESENTATION AND NATURE OF BUSINESS	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND NATURE OF BUSINESS	NOTE A – BASIS OF PRESENTATION AND NATURE OF BUSINESS [1] BASIS OF PRESENTATION The accompanying condensed consolidated financial statements are unaudited, but, in the opinion of the management of Network-1 Technologies, Inc. (the “Company”), contain all adjustments consisting only of normal recurring items which the Company considers necessary for the fair presentation of the Company’s financial position as of March 31, 2022, and the results of its operations and comprehensive income (loss) for the three month periods ended March 31, 2022 and March 31, 2021, changes in stockholders’ equity for the three month periods ended March 31, 2022 and March 31, 2021, and its cash flows for the three month periods ended March 31, 2022 and March 31, 2021. The unaudited condensed consolidated financial statements included herein have been prepared in accordance with the accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and the instructions to Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP may have been omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2022. The results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results of operations to be expected for the full year. The accompanying unaudited condensed consolidated financial statements include accounts of the Company and its wholly-owned subsidiaries, Mirror Worlds Technologies, LLC. and HFT Solutions, LLC. On March 17, 2022, the Company formed HFT Solutions, LLC for the purpose of acquiring its HFT patent portfolio (see Note G[2] hereof). All intercompany balances and transactions have been eliminated on consolidation. [2] BUSINESS The Company is engaged in the development, licensing and protection of its intellectual property assets. The Company presently owns ninety-six ( 96 The Company had been dependent upon its Remote Power Patent for a significant portion of its revenue. The Company no longer receives licensing revenue for its Remote Power Patent for any period subsequent March 7, 2020 (the expiration date of the patent). Except for the Company’s pending legal proceeding against NETGEAR, Inc. involving its Remote Power Patent, the Company’s future revenue is entirely dependent on its ability to monetize its other patent assets. The Company’s current strategy includes continuing to pursue licensing opportunities for its patent portfolios. In addition, the Company reviews opportunities to acquire or license additional intellectual property as well as other strategic alternatives. The Company’s patent acquisition and development strategy is to focus on acquiring high quality patents which management believes have the potential to generate significant licensing opportunities as the Company has achieved with respect to its Remote Power Patent and Mirror Worlds Patent Portfolio. In addition, the Company may also enter into strategic relationships with third parties to develop, commercialize, license or otherwise monetize their intellectual property.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [1] Use of Estimates and Assumptions The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. The significant estimates and assumptions made in the preparation of the Company’s unaudited condensed consolidated financial statements include legal fees and related costs, income taxes, valuation of patents and equity method investments, including evaluation of the Company’s basis difference. Actual results could be materially different from those estimates, upon which the carrying values were based. [2] Cash and Cash Equivalents The Company maintains cash deposits in high quality financial institutions insured by the Federal Deposit Insurance Corporation (“FDIC”). Accounts at each institution are insured by the FDIC up to $ 250,000 8,325,000 The Company considers all highly liquid short-term investments, including certificates of deposit and money market funds, that are purchased with an original maturity of three months or less to be cash equivalents. [3] Marketable Securities The Company’s marketable securities are comprised of fixed income mutual funds, corporate bonds and notes. The Company’s marketable securities are measured at fair value and are accounted for in accordance with ASU 2016-01. Unrealized holding gains and losses on fixed income mutual funds are recorded in net realized and unrealized gain (loss) from investments on the unaudited condensed consolidated statements of operations and comprehensive income (loss). Unrealized holding gains and losses, net of the related tax effect, on corporate bonds and notes are excluded from earnings and are reported as a separate component of stockholders’ equity until realized. Dividend and interest income are recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of the marketable securities. [4] Revenue Recognition Under ASC 606, revenue is recognized when the Company completes the licensing of its intellectual property to its licensees, in an amount that reflects the consideration the Company expects to be entitled to in exchange for licensing its intellectual property. The Company determines revenue recognition through the following steps: identification of the license agreement; identification of the performance obligations in the license agreement; determination of the consideration for the license; allocation of the transaction price to the performance obligations in the contract; and recognition of revenue when the Company satisfies its performance obligations. The Company relies on royalty reports received from third party licensees to record its revenue. From time to time, the Company may audit or otherwise dispute royalties reported from licensees. Any adjusted royalty revenue as a result of such audits or dispute is recorded by the Company in the period in which such adjustment is agreed to by the Company and the licensee or otherwise determined. Revenue from the Company’s patent licensing business is generated from negotiated license agreements. The timing and amount of revenue recognized from each licensee depends upon a variety of factors, including the terms of each agreement and the nature of the obligations of the parties. These agreements may include, but not be limited to, elements related to past infringement liabilities, non-refundable upfront license fees, and ongoing royalties on licensed products sold by the licensee. Generally, in the event of a litigation settlement related to the Company’s assertion of patent infringement involving its intellectual property, defendants will either pay (i) a non-refundable lump sum payment for a non-exclusive fully-paid license, or (ii) a non-refundable lump sum payment (license initiation fee) together with an ongoing obligation to pay quarterly or monthly royalties to the Company for the life of the licensed patent. [5] Stock-Based Compensation The Company accounts for its stock-based compensation awards to employees and directors in accordance with FASB ASC Topic 718, Compensation ― Stock Compensation Compensation expense related to awards to employees is recognized on a straight-line basis based on the grant date fair value over the associated service period of the award, which is generally the vesting term. The Company uses the Black-Scholes option pricing model to determine the grant date fair value of options granted. The fair value of restricted stock units is determined based on the number of shares underlying the grant and either the quoted market price of the Company’s common stock on the date of grant for time-based and performance-based awards, or the fair value on the date of grant using the Monte Carlo Simulation model for market-based awards. [6] Equity Method Investments Equity method investments are equity securities in entities the Company does not control but over which it has the ability to exercise significant influence. These investments are accounted for under the equity method of accounting in accordance with ASC 323, Investments — Equity Method and Joint Ventures on a one-quarter lag. When the Company’s carrying value in an equity method investment is reduced to zero, no further losses are recorded in the Company’s financial statements unless the Company guaranteed obligations of the investee company or has committed additional funding. When the investee company subsequently reports income, the Company will not record its share of such income until it equals the amount of its share of losses not previously recognized. Upon sale of equity method investments, the difference between sales proceeds and the carrying amount of the equity investment is recognized in profit or loss. [7] Costs of Revenue The Company includes in costs of revenue contingent legal fees payable to patent litigation counsel (see Note G[1] hereof), any other contractual payments to third parties related to net proceeds from settlements (see Note G[2] hereof) and incentive bonus compensation payable to its Chairman and Chief Executive Officer (see Note H[1] hereof). [8] Income Taxes The Company accounts for income taxes in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 740, Income Taxes ASC 740-10, Accounting for Uncertainty in Income Taxes U.S. federal, state and local income tax returns prior to 2018 are not subject to examination by any applicable tax authorities, except that tax authorities could challenge returns (only under certain circumstances) for earlier years to the extent they generated loss carry-forwards that are available for those future years. The personal holding company (“PHC”) rules under the Internal Revenue Code impose a 20% tax on a PHC’s undistributed personal holding company income (“UPHCI”), which means, in general, taxable income subject to certain adjustments and reduced by certain distributions to shareholders. For a corporation to be classified as a PHC, it must satisfy two tests: (i) that more than 50% in value of its outstanding shares must be owned directly or indirectly by five or fewer individuals at any time during the second half of the year (after applying constructive ownership rules to attribute stock owned by entities to their beneficial owners and among certain family members and other related parties) (the “Ownership Test”) and (ii) at least 60% of its adjusted ordinary gross income for a taxable year consists of dividends, interest, royalties, annuities and rents (the “Income Test”). During the second half of 2021, based on available information concerning the Company’s shareholder ownership, the Company did not satisfy the Ownership Test and thus the Company was not a PHC for 2021. However, the Company may be determined to be a PHC in 2022 or in future years. If the Company were to become a PHC in 2022 or any future year, it would be subject to the 20% tax on its UPHCI. In such event, the Company may issue a special cash dividend to its shareholders in an amount equal to the UPHCI rather than incur the 20% tax. [9] New Accounting Standards There are no new accounting standards that had a material impact on the Company's unaudited condensed consolidated financial statements.

PATENTS

PATENTS	3 Months Ended
	Mar. 31, 2022
Patents
PATENTS	NOTE C – PATENTS The Company’s intangible assets at March 31, 2022 include patents with estimated remaining economic useful lives ranging from 1 17.25 Schedule of patent March 31, 2022 December 31, 2021 Gross carrying amount – patents $ 8,473,000 $ 7,949,000 Accumulated amortization – patents (6,640,000 ) (6,565,000 ) Patents, net $ 1,833,000 $ 1,384,000 Amortization expense for the three months ended March 31, 2022 and 2021 was $ 75,000 74,000 Schedule of future amortization of current intangible Twelve Months Ended March 31, 2023 $ 330,000 2024 215,000 2025 120,000 2026 120,000 2027 and thereafter 1,048,000 Total $ 1,833,000 All of the patents within the Cox Patent Portfolio expired in September 2021 except for two patents which expire in July 2023 November 2023 September 2033 May 2034 October 31, 2039 November 1, 2039

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
STOCK-BASED COMPENSATION	NOTE D – STOCK-BASED COMPENSATION Restricted Stock Units The 2013 Stock Incentive Plan (“2013 Plan”) provides for the grant of any or all of the following types of awards: (a) stock options, (b) restricted stock, (c) deferred stock, (d) stock appreciation rights, and (e) other stock-based awards including restricted stock units. Awards under the 2013 Plan may be granted singly, in combination, or in tandem. Subject to standard anti-dilution adjustments as provided, the 2013 Plan provides for an aggregate of 2,600,000 shares of the Company’s common stock to be available for distribution. The Company’s Compensation Committee generally has the authority to administer the 2013 Plan, determine participants who will be granted awards, the size and types of awards, the terms and conditions of awards and the form and content of the award agreements representing awards. Awards under the 2013 Plan may be granted to employees, directors and consultants of the Company and its subsidiaries. As of March 31, 2022, there were 1,212,938 A summary of restricted stock unit activity for the three months ended March 31, 2022 is as follows (each restricted stock unit issued by the Company represents the right to receive one share of the Company’s common stock): Schedule of restricted stock unit activity Number of Shares Weighted-Average Grant Date Fair Value Balance of restricted stock units outstanding at December 31, 2021 12,500 $ 3.36 Grants of restricted stock units 670,000 1.94 Vested restricted stock units (11,250 ) (2.55 ) Balance of restricted stock units outstanding at March 31, 2022 671,250 $ 1.94 On January 18, 2022, the Company approved the grant of an aggregate of 25,000 15,000 10,000 On February 23, 2022, the Company’s Board of Directors approved the grant of 15,000 3,750 On March 11, 2022, 125,000 45,438 79,562 On March 22, 2022, in connection with the Company entering into a new four year employment agreement with its Chairman and Chief Executive Officer, the Company granted to its Chairman and Chief Executive Officer 600,000 restricted stock units which vest in four tranches subject to certain conditions (see Note H[1]). The Company valued the grant of these 600,000 restricted stock units using a Monte Carlo simulation due to certain market-based conditions included in the vesting terms (see Note B[5] hereof). The key inputs into the Monte Carlo simulation used to value the restricted stock units was a risk-free rate of 2.39 %, expected term of 4 four years, expected volatility of 40 % and a stock price of $ 2.47 . Restricted stock unit compensation expense was $ 55,000 59,000 The Company has an aggregate of $ 1,266,000 2.71 All of the Company’s outstanding (unvested) restricted stock units have dividend equivalent rights. As of March 31, 2022 and December 31, 2021, there was $ 72,000 accrued for dividend equivalent rights which were included in other accrued expenses.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	NOTE E – EARNINGS (LOSS) PER SHARE Basic income (loss) per share is calculated by dividing the net income (loss) by the weighted average number of outstanding common shares during the period. Diluted per share data includes the dilutive effects of options and restricted stock units. Potentially dilutive shares of 1,171,250 696,250 Computations of basic and diluted weighted average common shares outstanding were as follows: Schedule of Earnings per share Three Months Ended 2022 2021 Weighted-average common shares outstanding – basic 23,909,115 24,107,879 Dilutive effect of options and restricted stock units — 508,505 Weighted-average common shares outstanding – diluted 23,909,115 24,616,379 Options and restricted stock units excluded from the computation of diluted loss per share because the effect of inclusion would have been anti-dilutive 1,171,250 —

MARKETABLE SECURITIES

MARKETABLE SECURITIES	3 Months Ended
	Mar. 31, 2022
Marketable Securities
MARKETABLE SECURITIES	NOTE F – MARKETABLE SECURITIES Marketable securities as of March 31, 2022 and December 31, 2021 were composed of: Schedule of Marketable Securities March 31, 2022 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Fixed income mutual funds $ 14,389,000 $ — $ (490,000 ) $ 13,899,000 Corporate bonds and notes 192,000 — (15,000 ) 177,000 Total marketable securities $ 14,581,000 $ — $ (505,000 ) $ 14,076,000 December 31, 2021 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Fixed income mutual funds $ 14,462,000 $ — $ (137,000 ) $ 14,325,000 Corporate bonds and notes 813,000 — (12,000 ) 801,000 Total marketable securities $ 15,275,000 $ — $ (149,000 ) $ 15,126,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE G – COMMITMENTS AND CONTINGENCIES [1] Legal Fees Russ, August & Kabat provides legal services to the Company with respect to its patent litigation filed in May 2017 against Facebook, Inc. in the U.S. District Court for the Southern District of New York relating to several patents within the Company’s Mirror Worlds Patent Portfolio (see Note I[3] hereof). The terms of the Company’s agreement with Russ, August & Kabat provide for cash payments on a monthly basis subject to a cap plus a contingency fee ranging between 15% and 24% of the net recovery (after deduction of expenses) depending on the stage of the proceeding in which the result (settlement or judgment) is achieved. The Company is responsible for all expenses incurred with respect to this litigation. Russ, August & Kabat also provides legal services to the Company with respect to its pending patent litigations filed in April 2014 and December 2014 against Google Inc. and YouTube, LLC in the U.S. District Court for the Southern District of New York relating to certain patents within the Company’s Cox Patent Portfolio (see Note I[2] hereof). The terms of the Company’s agreement with Russ, August & Kabat provide for legal fees on a full contingency basis ranging from 15% to 30% of the net recovery (after deduction of expenses) depending on the stage of the proceeding in which the result (settlement or judgment) is achieved. The Company is responsible for all of the expenses incurred with respect to this litigation. [2] Patent Acquisitions On March 25, 2022, the Company completed the acquisition of a new patent portfolio (HFT Patent Portfolio) consisting of six U.S. patents and two pending U.S. patents covering certain advanced technologies relating to high frequency trading, which inventions specifically address technological problems associated with speed and latency and provide critical latency gains in trading systems where the difference between success and failure may be measured in nanoseconds. The Company paid the seller $ 500,000 at the closing and has an obligation to pay the seller an additional $ 500,000 in cash and $ 375,000 of the Company's common stock (up to a maximum of 375,000 shares) upon achieving certain milestones with respect to the patent portfolio. The Company also has an additional obligation to pay the seller 15 % of the first $50 million of net proceeds (after deduction of expenses) generated by the patent portfolio and 17.5 % of net proceeds greater than $50 million. On May 10, 2022, the Company received an additional patent issuance from the U.S. Patent and Trademark Office related to the HFT Patent Portfolio. In connection with the Company’s acquisition of its Cox Patent Portfolio, the Company is obligated to pay Dr. Cox 12.5 As part of the acquisition of the Mirror Worlds Patent Portfolio, the Company also entered into an agreement with Recognition Interface, LLC (“Recognition”) pursuant to which Recognition received from the Company an interest in the net proceeds realized from the monetization of the Mirror Worlds Patent Portfolio, as follows: (i) 10 15 20 3,127,000 In connection with the Company’s acquisition of its M2M/IoT Patent Portfolio, the Company is obligated to pay M2M 14 5 250,000

EMPLOYMENT ARRANGEMENTS AND OTH

EMPLOYMENT ARRANGEMENTS AND OTHER AGREEMENTS	3 Months Ended
	Mar. 31, 2022
Employment Arrangements And Other Agreements
EMPLOYMENT ARRANGEMENTS AND OTHER AGREEMENTS	NOTE H - EMPLOYMENT ARRANGEMENTS AND OTHER AGREEMENTS [1] 535,000 175,000 In addition, pursuant to the Agreement, the Company granted the Chairman and Chief Executive Officer, under its 2013 Plan, 600,000 175,000 100,000 75,000 150,000 3.50 and the Employment Condition is satisfied through the date such minimum per share Closing Price is achieved (“Tranche 2”); (3) 150,000 4.00 125,000 4.50 Under the terms of the Agreement, so long as the Chairman and Chief Executive Officer continues to serve as an executive officer of the Company, whether pursuant to the Agreement or otherwise, the Chairman and Chief Executive Officer shall also receive incentive compensation in an amount equal to 5% of the Company’s gross royalties or other payments from Licensing Activities (as defined) (without deduction of legal fees or any other expenses) with respect to its Remote Power Patent and a 10% net interest (gross royalties and other payments after deduction of all legal fees and litigation expenses related to licensing, enforcement and sale activities, but in no event shall he receive less than 6.25% of the gross recovery) of the Company’s royalties and other payments relating to Licensing Activities with respect to patents other than the Remote Power Patent (including all of the Company’s patent portfolios and its investment in ILiAD Biotechnologies) (collectively, the “Incentive Compensation”). During the three months ended March 31, 2022 and 2021, the Chairman and Chief Executive Officer earned Incentive Compensation of $ 0 935,000 The Incentive Compensation shall continue to be paid to the Chairman and Chief Executive Officer for the life of each of the Company’s patents with respect to licenses entered into with third parties during the term of his employment or at any time thereafter, whether he is employed by us or not; provided, that, the employment of the Chairman and Chief Executive Officer has not been terminated by the Company “For Cause” (as defined) or terminated by him without “Good Reason” (as defined). In the event of a merger or sale of substantially all of the Company’s assets, the Company has the option to extinguish the right of the Chairman and Chief Executive Officer to receive future Incentive Compensation by payment to him of a lump sum payment, in an amount equal to the fair market value of such future interest as determined by an independent third party expert if the parties do not reach agreement as to such value. In the event that the Chairman and Chief Executive Officer’s employment is terminated by the Company “Other Than For Cause” (as defined) or by him for “Good Reason” (as defined), the Chairman and Chief Executive Officer shall also be entitled to (i) a lump sum severance payment of 12 months base salary, (ii) a pro-rated portion of the $ 175,000 In connection with the Agreement, the Chairman and Chief Executive Officer has also agreed not to compete with the Company as follows: (i) during the term of the Agreement and for a period of 12 months thereafter if his employment is terminated “Other Than For Cause” (as defined) provided he is paid his 12 month base salary severance amount and (ii) for a period of two years from the termination date, if terminated “For Cause” by the Company or “Without Good Reason” by the Chairman and Chief Executive Officer. [2] 175,000 [3] 200,000

LEGAL PROCEEDINGS AND DISPUTES

LEGAL PROCEEDINGS AND DISPUTES	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS AND DISPUTES	NOTE I – LEGAL PROCEEDINGS AND DISPUTES [1] 18,692,000 [2] Company initiated litigation against Google Inc. (“Google”) and YouTube, LLC (“YouTube”) in the U.S. District Court for the Southern District of New York for infringement of several of its patents within its Cox Patent Portfolio acquired from Dr. Cox which relate to the identification of media content on the Internet. The lawsuit alleges that Google and YouTube have infringed and continue to infringe certain of the Company’s patents by making, using, selling and offering to sell unlicensed systems and related products and services, which include YouTube’s Content ID system. [3] Company’s wholly-owned subsidiary, initiated litigation against Facebook, Inc. (“Facebook”) in the U.S. District Court for the Southern District of New York, for infringement of U.S. Patent No. 6,006,227, U.S. Patent No. 7,865,538 and U.S. Patent No. 8,255,439 (among the patents within the Company’s Mirror Worlds Patent Portfolio). The lawsuit alleged that the asserted patents are infringed by Facebook’s core technologies that enable Facebook’s Newsfeed and Timeline features. to appeal the summary judgment decision to the U.S. Court of Appeals for the Federal Circuit. On January 23, 2020, the U.S. Court of Appeals for the Federal Circuit reversed the summary judgment finding of the District Court and remanded the litigation to the Southern District of New York for further proceedings. On March 7, 2022, the District Court entered a ruling granting in part and denying in part a motion for summary judgment by Facebook. In its ruling the Court (i) denied Facebook’s motion that the asserted patents were invalid by concluding that all asserted claims were patent eligible under §101 of the Patent Act and (ii) granted summary judgment of non-infringement in favor of Facebook and dismissed the case. The Company strongly disagrees with the decision of the District Court on non-infringement and on April 4, 2022, the Company filed a notice of appeal to the U.S. Court of Appeals for the Federal Circuit. On April 18, 2022, Facebook filed a notice of cross-appeal with respect to the Court’s ruling on validity. [4]

INVESTMENT

INVESTMENT	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT	NOTE J – INVESTMENT During the period December 2018 – March 2021, the Company made an aggregate investment of $ 6,000,000 6,000,000 5,000,000 1,000,000 9.5 7.2 On March 12, 2021, the Company invested $ 1,000,000 23,500,000 6 The Notes are required to be converted into a Qualified Financing (minimum financing of $15 million) at the lesser of (i) 80% of the price paid per unit in such offering or (ii) a price based on an enterprise value of $176,000,000. shall convert in the event of a merger at the lower of an enterprise value of $ 176,000,000 For the three months ended March 31, 2022 and 2021, the Company recorded a net loss from its equity investment in ILiAD of $ 433,000 210,000 The difference between the Company’s share of equity in ILiAD’s net assets and the equity investment carrying value reported on the Company’s unaudited condensed consolidated balance sheet at March 31, 2022 is due to an excess amount paid over the book value of the investment totaling approximately $ 5,000,000

STOCK REPURCHASES

STOCK REPURCHASES	3 Months Ended
	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
STOCK REPURCHASES	NOTE K – STOCK REPURCHASES On June 8, 2021, the Board of Directors authorized an extension and increase of the Company’s share repurchase program (the “Share Repurchase Program”) to repurchase up to $ 5,000,000 8,984,134 17,225,276 1.92 no 3,930,729

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2022
Risks and Uncertainties [Abstract]
CONCENTRATIONS	NOTE L – CONCENTRATIONS The Company had no revenue for the three months ended March 31, 2022. Revenue from one licensee constituted 100 no

DIVIDEND POLICY

DIVIDEND POLICY	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
DIVIDEND POLICY	NOTE M – DIVIDEND POLICY The Company’s dividend policy consists of semi-annual cash dividends of $ 0.05

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE N – SUBSEQUENT EVENTS On May 1, 2022, the Company signed a new three-year lease for its principal office space in New Canaan, Connecticut, pursuant to which the Company pays a base rent and additional expenses of an aggregate of $ 6,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Use of Estimates and Assumptions	[1] Use of Estimates and Assumptions The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. The significant estimates and assumptions made in the preparation of the Company’s unaudited condensed consolidated financial statements include legal fees and related costs, income taxes, valuation of patents and equity method investments, including evaluation of the Company’s basis difference. Actual results could be materially different from those estimates, upon which the carrying values were based.
Cash and Cash Equivalents	[2] Cash and Cash Equivalents The Company maintains cash deposits in high quality financial institutions insured by the Federal Deposit Insurance Corporation (“FDIC”). Accounts at each institution are insured by the FDIC up to $ 250,000 8,325,000 The Company considers all highly liquid short-term investments, including certificates of deposit and money market funds, that are purchased with an original maturity of three months or less to be cash equivalents.
Marketable Securities	[3] Marketable Securities The Company’s marketable securities are comprised of fixed income mutual funds, corporate bonds and notes. The Company’s marketable securities are measured at fair value and are accounted for in accordance with ASU 2016-01. Unrealized holding gains and losses on fixed income mutual funds are recorded in net realized and unrealized gain (loss) from investments on the unaudited condensed consolidated statements of operations and comprehensive income (loss). Unrealized holding gains and losses, net of the related tax effect, on corporate bonds and notes are excluded from earnings and are reported as a separate component of stockholders’ equity until realized. Dividend and interest income are recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of the marketable securities.
Revenue Recognition	[4] Revenue Recognition Under ASC 606, revenue is recognized when the Company completes the licensing of its intellectual property to its licensees, in an amount that reflects the consideration the Company expects to be entitled to in exchange for licensing its intellectual property. The Company determines revenue recognition through the following steps: identification of the license agreement; identification of the performance obligations in the license agreement; determination of the consideration for the license; allocation of the transaction price to the performance obligations in the contract; and recognition of revenue when the Company satisfies its performance obligations. The Company relies on royalty reports received from third party licensees to record its revenue. From time to time, the Company may audit or otherwise dispute royalties reported from licensees. Any adjusted royalty revenue as a result of such audits or dispute is recorded by the Company in the period in which such adjustment is agreed to by the Company and the licensee or otherwise determined. Revenue from the Company’s patent licensing business is generated from negotiated license agreements. The timing and amount of revenue recognized from each licensee depends upon a variety of factors, including the terms of each agreement and the nature of the obligations of the parties. These agreements may include, but not be limited to, elements related to past infringement liabilities, non-refundable upfront license fees, and ongoing royalties on licensed products sold by the licensee. Generally, in the event of a litigation settlement related to the Company’s assertion of patent infringement involving its intellectual property, defendants will either pay (i) a non-refundable lump sum payment for a non-exclusive fully-paid license, or (ii) a non-refundable lump sum payment (license initiation fee) together with an ongoing obligation to pay quarterly or monthly royalties to the Company for the life of the licensed patent.
Stock-Based Compensation	[5] Stock-Based Compensation The Company accounts for its stock-based compensation awards to employees and directors in accordance with FASB ASC Topic 718, Compensation ― Stock Compensation Compensation expense related to awards to employees is recognized on a straight-line basis based on the grant date fair value over the associated service period of the award, which is generally the vesting term. The Company uses the Black-Scholes option pricing model to determine the grant date fair value of options granted. The fair value of restricted stock units is determined based on the number of shares underlying the grant and either the quoted market price of the Company’s common stock on the date of grant for time-based and performance-based awards, or the fair value on the date of grant using the Monte Carlo Simulation model for market-based awards.
Equity Method Investments	[6] Equity Method Investments Equity method investments are equity securities in entities the Company does not control but over which it has the ability to exercise significant influence. These investments are accounted for under the equity method of accounting in accordance with ASC 323, Investments — Equity Method and Joint Ventures on a one-quarter lag. When the Company’s carrying value in an equity method investment is reduced to zero, no further losses are recorded in the Company’s financial statements unless the Company guaranteed obligations of the investee company or has committed additional funding. When the investee company subsequently reports income, the Company will not record its share of such income until it equals the amount of its share of losses not previously recognized. Upon sale of equity method investments, the difference between sales proceeds and the carrying amount of the equity investment is recognized in profit or loss.
Costs of Revenue	[7] Costs of Revenue The Company includes in costs of revenue contingent legal fees payable to patent litigation counsel (see Note G[1] hereof), any other contractual payments to third parties related to net proceeds from settlements (see Note G[2] hereof) and incentive bonus compensation payable to its Chairman and Chief Executive Officer (see Note H[1] hereof).
Income Taxes	[8] Income Taxes The Company accounts for income taxes in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 740, Income Taxes ASC 740-10, Accounting for Uncertainty in Income Taxes U.S. federal, state and local income tax returns prior to 2018 are not subject to examination by any applicable tax authorities, except that tax authorities could challenge returns (only under certain circumstances) for earlier years to the extent they generated loss carry-forwards that are available for those future years. The personal holding company (“PHC”) rules under the Internal Revenue Code impose a 20% tax on a PHC’s undistributed personal holding company income (“UPHCI”), which means, in general, taxable income subject to certain adjustments and reduced by certain distributions to shareholders. For a corporation to be classified as a PHC, it must satisfy two tests: (i) that more than 50% in value of its outstanding shares must be owned directly or indirectly by five or fewer individuals at any time during the second half of the year (after applying constructive ownership rules to attribute stock owned by entities to their beneficial owners and among certain family members and other related parties) (the “Ownership Test”) and (ii) at least 60% of its adjusted ordinary gross income for a taxable year consists of dividends, interest, royalties, annuities and rents (the “Income Test”). During the second half of 2021, based on available information concerning the Company’s shareholder ownership, the Company did not satisfy the Ownership Test and thus the Company was not a PHC for 2021. However, the Company may be determined to be a PHC in 2022 or in future years. If the Company were to become a PHC in 2022 or any future year, it would be subject to the 20% tax on its UPHCI. In such event, the Company may issue a special cash dividend to its shareholders in an amount equal to the UPHCI rather than incur the 20% tax.
New Accounting Standards	[9] New Accounting Standards There are no new accounting standards that had a material impact on the Company's unaudited condensed consolidated financial statements.

PATENTS (Tables)

PATENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Patents
Schedule of patent	Schedule of patent March 31, 2022 December 31, 2021 Gross carrying amount – patents $ 8,473,000 $ 7,949,000 Accumulated amortization – patents (6,640,000 ) (6,565,000 ) Patents, net $ 1,833,000 $ 1,384,000
Schedule of future amortization of current intangible	Schedule of future amortization of current intangible Twelve Months Ended March 31, 2023 $ 330,000 2024 215,000 2025 120,000 2026 120,000 2027 and thereafter 1,048,000 Total $ 1,833,000

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of restricted stock unit activity	Schedule of restricted stock unit activity Number of Shares Weighted-Average Grant Date Fair Value Balance of restricted stock units outstanding at December 31, 2021 12,500 $ 3.36 Grants of restricted stock units 670,000 1.94 Vested restricted stock units (11,250 ) (2.55 ) Balance of restricted stock units outstanding at March 31, 2022 671,250 $ 1.94

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings per share	Schedule of Earnings per share Three Months Ended 2022 2021 Weighted-average common shares outstanding – basic 23,909,115 24,107,879 Dilutive effect of options and restricted stock units — 508,505 Weighted-average common shares outstanding – diluted 23,909,115 24,616,379 Options and restricted stock units excluded from the computation of diluted loss per share because the effect of inclusion would have been anti-dilutive 1,171,250 —

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Marketable Securities
Schedule of Marketable Securities	Schedule of Marketable Securities March 31, 2022 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Fixed income mutual funds $ 14,389,000 $ — $ (490,000 ) $ 13,899,000 Corporate bonds and notes 192,000 — (15,000 ) 177,000 Total marketable securities $ 14,581,000 $ — $ (505,000 ) $ 14,076,000 December 31, 2021 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Fixed income mutual funds $ 14,462,000 $ — $ (137,000 ) $ 14,325,000 Corporate bonds and notes 813,000 — (12,000 ) 801,000 Total marketable securities $ 15,275,000 $ — $ (149,000 ) $ 15,126,000

BASIS OF PRESENTATION AND NAT_2

BASIS OF PRESENTATION AND NATURE OF BUSINESS (Details Narrative)	3 Months Ended
	Mar. 31, 2022Number
Accounting Policies [Abstract]
Patents owned	96

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Mar. 31, 2022USD ($)
Accounting Policies [Abstract]
FDIC insured limit	$ 250,000
Cash in excess of FDIC insured limit	$ 8,325,000

PATENTS (Details)

PATENTS (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Patents, net	$ 1,833,000	$ 1,384,000
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount – patents	8,473,000	7,949,000
Accumulated amortization – patents	(6,640,000)	(6,565,000)
Patents, net	$ 1,833,000	$ 1,384,000

PATENTS (Details 1)

PATENTS (Details 1)	Mar. 31, 2022USD ($)
Patents
2023	$ 330,000
2024	215,000
2025	120,000
2026	120,000
2027 and thereafter	1,048,000
Total	$ 1,833,000

PATENTS (Details Narrative)

PATENTS (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Amortization expense	$ 75,000	$ 74,000
Minimum [Member]
Estimated remaining economic useful of patents	1 year
Expiration dates of the patents within the Cox patent portfolio	July 2023
Expiration dates of the patents within the Company's M2M/IoT Patent Portfolio	September 2033
Expiration dates within companys hft patent portfolio	October 31, 2039
Maximum [Member]
Estimated remaining economic useful of patents	17 years 3 months
Expiration dates of the patents within the Cox patent portfolio	November 2023
Expiration dates of the patents within the Company's M2M/IoT Patent Portfolio	May 2034
Expiration dates within companys hft patent portfolio	November 1, 2039

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Equity [Abstract]
Restricted stock, Outstanding Number of shares, Beginning Balance | shares	12,500
Restricted stock, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 3.36
Grants of restricted stock units | shares	670,000
Grants of restricted stock units, Weighted Average Grant Date Fair Value | $ / shares	$ 1.94
Vested restricted stock units | shares	(11,250)
Vested restricted stock units, Weighted Average Grant Date Fair Value | $ / shares	$ (2.55)
Resricted stock, Outstanding Number of shares, Ending Balance | shares	671,250
Restricted stock, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 1.94

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)	Mar. 11, 2022	Mar. 22, 2022	Feb. 23, 2022	Jan. 18, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 15, 2022	Sep. 15, 2022	Jun. 15, 2022	Mar. 15, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units vest to directors										3,750
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Method Used					Monte Carlo
Subsequent Event [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units vest to directors							3,750	3,750	3,750
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units granted to officers directors and consultatnts		600,000	15,000	25,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate		2.39%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term		4 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate		40.00%
Share Price		$ 2.47
Restricted stock unit compensation expense					$ 55,000	$ 59,000
Unrecognized restricted stock unit compensation expense					$ 1,266,000
Weighted average amortized period					2 years 8 months 15 days
Accrued dividend rights on restricted stock unit					$ 72,000						$ 72,000
Restricted Stock Units (RSUs) [Member] | Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units settlement to CEO	125,000
Shares delivered for withholding taxes	45,438
Net shares received	79,562
Restricted Stock Units (RSUs) [Member] | Jon Greene [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units granted to Executive Vice President				15,000
Restricted Stock Units (RSUs) [Member] | Jonathan Maslow [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted tock units granted to consultant				10,000
2013 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock available for issuance					1,212,938

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Weighted-average common shares outstanding – basic	23,909,115	24,107,879
Dilutive effect of options and restricted stock units		508,505
Weighted-average common shares outstanding – diluted	23,909,115	24,616,379
Options and restricted stock units excluded from the computation of diluted loss per share because the effect of inclusion would have been anti-dilutive	1,171,250

EARNINGS (LOSS) PER SHARE (De_2

EARNINGS (LOSS) PER SHARE (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Potentially Dilutive Shares	1,171,250	696,250

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Fair Value [Member]
OtherInvestmentReadilyMarketableLineItems [Line Items]
Fixed income mutual funds	$ 13,899,000	$ 14,325,000
Corporate bonds and notes	177,000	801,000
Total marketable securities	14,076,000	15,126,000
Cost Basis [Member]
OtherInvestmentReadilyMarketableLineItems [Line Items]
Fixed income mutual funds	14,389,000	14,462,000
Corporate bonds and notes	192,000	813,000
Total marketable securities	14,581,000	15,275,000
Gross Unrealized Gains [Member]
OtherInvestmentReadilyMarketableLineItems [Line Items]
Fixed income mutual funds
Corporate bonds and notes
Total marketable securities
Gross Unrealized Losses [Member]
OtherInvestmentReadilyMarketableLineItems [Line Items]
Fixed income mutual funds	(490,000)	(137,000)
Corporate bonds and notes	(15,000)	(12,000)
Total marketable securities	$ (505,000)	$ (149,000)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	1 Months Ended	104 Months Ended
	Mar. 25, 2022	Dec. 31, 2021	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Increase in professional fees and related costs	$ 500,000
[custom:ObligationToPaySeller]	500,000
Directors Three [Member]	$ 375,000
Legal Service Agreement With Dovel And Luner For Litigation Settlement In July 2010 [Member]	15.00%
First $125 Million	17.50%
Obligated to pay Cox, net proceeds percentage			12.50%
First $125 Million			10.00%
Next $125 Million			15.00%
Over $250 Million			20.00%
Recognition net proceeds payment related to Mirror Worlds patents		$ 3,127,000
First $100 Million			14.00%
Next $100 Million			5.00%
Additional consideration payable upon occurrence of certain future events			$ 250,000

EMPLOYMENT ARRANGEMENTS AND O_2

EMPLOYMENT ARRANGEMENTS AND OTHER AGREEMENTS (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended
	Mar. 22, 2024	Mar. 22, 2023	Mar. 22, 2022	Mar. 31, 2022	Mar. 31, 2021
Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Salary and Wage, NonOfficer, Excluding Cost of Good and Service Sold				$ 0	$ 935,000
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units granted			600,000
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units Tranche 1			175,000
Restricted Stock Units to vest (Tranche 1)	75,000	100,000
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted Stock Units to vest (Tranche 2)			150,000
Minimum stock price for vesting			$ 3.50
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Minimum stock price for vesting			$ 4
Restricted Stock Units to vest (Tranche 3)			150,000
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share Based Compensation Award Tranche Four [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Minimum stock price for vesting			$ 4.50
Restricted Stock Units to vest (Tranche 4)			125,000
Chief Executive Officer [Member] | New Employment Agreement [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Annual base salary			$ 535,000
Annual Target Bonus			175,000
Prorated target bonus			$ 175,000
Chief Financial Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Annual base salary				175,000
Vice President [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Annual base salary				$ 200,000

LEGAL PROCEEDINGS AND DISPUTES

LEGAL PROCEEDINGS AND DISPUTES (Details Narrative) - USD ($)	May 09, 2017	Mar. 31, 2022	Mar. 07, 2020
Google [Member] | On April 4, 2014 and December 3, 2014 [Member]
Litigation pending, description		Company initiated litigation against Google Inc. (“Google”) and YouTube, LLC (“YouTube”) in the U.S. District Court for the Southern District of New York for infringement of several of its patents within its Cox Patent Portfolio acquired from Dr. Cox which relate to the identification of media content on the Internet. The lawsuit alleges that Google and YouTube have infringed and continue to infringe certain of the Company’s patents by making, using, selling and offering to sell unlicensed systems and related products and services, which include YouTube’s Content ID system.
Facebook [Member]
Litigation pending, description	Company’s wholly-owned subsidiary, initiated litigation against Facebook, Inc. (“Facebook”) in the U.S. District Court for the Southern District of New York, for infringement of U.S. Patent No. 6,006,227, U.S. Patent No. 7,865,538 and U.S. Patent No. 8,255,439 (among the patents within the Company’s Mirror Worlds Patent Portfolio). The lawsuit alleged that the asserted patents are infringed by Facebook’s core technologies that enable Facebook’s Newsfeed and Timeline features.
License Agreement [Member]
Amount of royalties paid by Cisco			$ 18,692,000

INVESTMENT (Details Narrative)

INVESTMENT (Details Narrative) - USD ($)	Mar. 12, 2021	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Aggregrate investment		$ 6,000,000
Equity investment		5,000,000
Convertable note investment		1,000,000
New Employment Agreement [Member]
Defined Benefit Plan Disclosure [Line Items]
Aggregrate investment		6,000,000
Equity investment		5,000,000
Equity investment net loss		$ 433,000	$ 210,000
New Employment Agreement [Member] | 2013 Stock Incentive Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Ownership percentage not fully diluted		9.50%
Ownership percentage fully diluted		7.20%
Additional consideration payable upon occurrence of certain future events
Defined Benefit Plan Disclosure [Line Items]
Additional convertable note investment	$ 1,000,000
Maximum convertible debt offering	$ 23,500,000
Interest rate	6.00%
Notes conversion, description	The Notes are required to be converted into a Qualified Financing (minimum financing of $15 million) at the lesser of (i) 80% of the price paid per unit in such offering or (ii) a price based on an enterprise value of $176,000,000.
Enterprise value	$ 176,000,000

STOCK REPURCHASES (Details Narr

STOCK REPURCHASES (Details Narrative) - USD ($)	3 Months Ended	128 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Jun. 08, 2021
Other Liabilities Disclosure [Abstract]
Stock Repurchase Program, dollar amount, that may be repurchased			$ 5,000,000
Number of shares, common stock repurchased since inception	0	8,984,134
Aggregate cost of common stock repurchased since inception		$ 17,225,276
Average price per share, common stock repurchased since inception		$ 1.92
Value of remaining shares repurchased that may be repurchased	$ 3,930,729	$ 3,930,729

CONCENTRATIONS (Details Narrati

CONCENTRATIONS (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Royalty receivables		$ 0	$ 0
Remote Power Patent [Member]
Concentration Risk [Line Items]
Percentage revenue from one licensee	100.00%

DIVIDEND POLICY (Details Narrat

DIVIDEND POLICY (Details Narrative) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.05	$ 0.05

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	May 01, 2022USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Base rent and additional expenses	$ 6,000