Network-1 Technologies, Inc. (NTIP): تحليل مصفوفة ANSOFF

في مشهد تكنولوجيا الاتصالات الذي يتطور بسرعة، تقف شركة Network-1 Technologies, Inc. (NTIP) في طليعة الابتكار الاستراتيجي، حيث تستخدم مصفوفة Ansoff المتطورة التي تعد بإعادة تعريف تسييل الملكية الفكرية وتوسيع السوق. ومن خلال التنقل الاستراتيجي في اختراق السوق، والتطوير، وابتكار المنتجات، والتنويع، تستعد الشركة لتحويل محفظة براءات الاختراع الخاصة بها إلى محرك قوي للنمو التكنولوجي والمالي. سينبهر المستثمرون وعشاق التكنولوجيا على حدٍ سواء بالنهج الجريء الذي تتبعه الشركة للاستفادة من براءات اختراع الاتصالات المتطورة عبر أبعاد استراتيجية متعددة.

Network-1 Technologies, Inc. (NTIP) - مصفوفة أنسوف: اختراق السوق

توسيع جهود المبيعات والتسويق التي تستهدف عملاء محفظة براءات اختراع الاتصالات الحاليين

حققت Network-1 Technologies إيرادات تراخيص براءات اختراع بقيمة 8.5 مليون دولار أمريكي للعام المالي 2022. وتشمل محفظة براءات الاختراع الخاصة بالشركة 94 براءة اختراع صادرة عبر تقنيات اتصالات مختلفة.

فئة براءات الاختراع	عدد براءات الاختراع	تدفق الإيرادات المحتملة
الاتصالات السلكية واللاسلكية	94	8.5 مليون دولار
أمن الشبكات	37	3.2 مليون دولار
نقل البيانات	22	2.1 مليون دولار

زيادة إيرادات الترخيص من مقتنيات براءات الاختراع الحالية

أعلنت شركة Network-1 Technologies عن إجمالي إيرادات بقيمة 10.4 مليون دولار أمريكي لعام 2022، حيث يمثل ترخيص براءات الاختراع 81.7% من إجمالي الإيرادات.

• متوسط معدل حقوق الملكية: 2.5% إلى 4.3%
• اتفاقيات الترخيص الحالية: 12 مرخصًا للتكنولوجيا النشطة
• نمو الإيرادات المحتمل: 15-20% من خلال مفاوضات حقوق الملكية النشطة

تعزيز إدارة علاقات العملاء

تحتفظ Network-1 Technologies بعلاقات مع شركات التكنولوجيا الرئيسية بما في ذلك Hewlett Packard Enterprise وCisco Systems وغيرها من شركات التكنولوجيا Fortune 500.

نوع العميل	عدد العملاء	متوسط قيمة العقد
فورتشن 500 شركات التكنولوجيا	7	1.2 مليون دولار
شركات التكنولوجيا متوسطة الحجم	5	$650,000

تحسين استراتيجيات التسعير لترخيص براءات الاختراع

تركز استراتيجية تسعير تراخيص براءات الاختراع الحالية لشركة Network-1 Technologies على تعظيم القيمة من خلال المفاوضات الإستراتيجية.

• نطاق الأسعار: 500000 دولار إلى 3.2 مليون دولار لكل اتفاقية ترخيص
• هامش الربح الإجمالي لترخيص براءات الاختراع: 92%
• التوسع المحتمل في حصة السوق: 12-18% من خلال نماذج التسعير المنقحة

Network-1 Technologies, Inc. (NTIP) - مصفوفة أنسوف: تطوير السوق

استهداف أسواق الاتصالات الناشئة في آسيا وأوروبا للحصول على فرص ترخيص براءات الاختراع

أعلنت شركة Network-1 Technologies عن إيرادات تراخيص براءات الاختراع بقيمة 4.1 مليون دولار أمريكي لعام 2022. وبلغ حجم سوق الاتصالات الآسيوية 1.47 تريليون دولار أمريكي في عام 2022. وبلغت قيمة سوق الاتصالات الأوروبية 1.09 تريليون دولار أمريكي في نفس الفترة.

المنطقة	حجم السوق	إمكانية ترخيص براءات الاختراع
آسيا	1.47 تريليون دولار	عالية
أوروبا	1.09 تريليون دولار	متوسطة عالية

استكشف إمكانات ترخيص التكنولوجيا في الصناعات المجاورة

من المتوقع أن يصل حجم السوق العالمية للحوسبة السحابية إلى 1.3 تريليون دولار بحلول عام 2025. ويقدر سوق البنية التحتية للشبكات بنحو 543 مليار دولار في عام 2022.

• معدل نمو الحوسبة السحابية: 17.9% سنوياً
• زيادة الاستثمار في البنية التحتية للشبكات بنسبة 12.4% على أساس سنوي

تطوير شراكات استراتيجية مع شركات التكنولوجيا العالمية

تمتلك Network-1 Technologies احتياطيات نقدية بقيمة 22.3 مليون دولار أمريكي اعتبارًا من الربع الرابع من عام 2022. وتحتوي محفظة براءات الاختراع على 94 براءة اختراع نشطة.

مقياس الشراكة	الوضع الحالي
الشراكات الدولية النشطة	3
أسواق الشراكة المحتملة	7

تحديد ومتابعة قطاعات السوق الجديدة

ومن المتوقع أن يصل سوق تكنولوجيا الملكية الفكرية إلى 108.5 مليار دولار بحلول عام 2025. ومن المتوقع أن يصل الاستثمار في تكنولوجيا الاتصالات إلى 1.6 تريليون دولار على مستوى العالم.

• إمكانية تحقيق الدخل من براءات الاختراع: 45-65 مليون دولار سنويًا
• نمو إيرادات تراخيص التكنولوجيا: 14.2% متوقعة

Network-1 Technologies, Inc. (NTIP) - مصفوفة أنسوف: تطوير المنتجات

الاستثمار في البحث والتطوير لتقنيات براءات الاختراع الجديدة في مجالات الاتصالات الناشئة

وفي السنة المالية 2022، استثمرت Network-1 Technologies 2.3 مليون دولار أمريكي في جهود البحث والتطوير، وهو ما يمثل 37% من إجمالي إيرادات الشركة. ركزت أبحاث براءات الاختراع على ابتكارات الاتصالات مع التركيز بشكل خاص على تقنيات الجيل الخامس وأمن الشبكات.

مقياس البحث والتطوير	2022 القيمة
إجمالي الاستثمار في البحث والتطوير	2.3 مليون دولار
طلبات براءات الاختراع المقدمة	12 تطبيقًا جديدًا
البحث والتطوير كنسبة مئوية من الإيرادات	37%

تطوير أصول الملكية الفكرية المبتكرة في تقنيات الجيل الخامس والحوسبة الطرفية وأمن الشبكات

تمتلك Network-1 Technologies حاليًا 47 براءة اختراع نشطة بقيمة سوقية تقدر بـ 18.5 مليون دولار. تشمل مجالات التركيز التكنولوجية المحددة ما يلي:

• تقنيات تحسين شبكة 5G
• براءات اختراع البنية التحتية للحوسبة المتطورة
• ابتكارات بروتوكول أمن الشبكات

إنشاء المزيد من حافظات براءات الاختراع الشاملة لمعالجة تحديات الاتصالات المتطورة

اعتبارًا من الربع الرابع من عام 2022، توسعت محفظة براءات الاختراع الخاصة بالشركة بمقدار 8 مجالات تكنولوجية استراتيجية جديدة، مع إيرادات ترخيص محتملة تقدر بـ 4.2 مليون دولار سنويًا.

متري محفظة براءات الاختراع	2022 القيمة
إجمالي براءات الاختراع النشطة	47
تقييم محفظة براءات الاختراع	18.5 مليون دولار
إيرادات الترخيص السنوية المحتملة	4.2 مليون دولار

تعزيز عروض براءات الاختراع الحالية بميزات متقدمة وإمكانات تطبيقية أوسع

قامت Network-1 Technologies بتحسين 6 مجموعات من براءات الاختراع الحالية في عام 2022، مما أدى إلى توسيع تغطيتها التكنولوجية وفرص الترخيص المحتملة عبر البنية التحتية للاتصالات.

• تعزيز اتساع براءات الاختراع في بروتوكولات الاتصالات اللاسلكية
• توسيع إمكانات التطبيق في مجال أمن شبكات المؤسسات
• تحسين قابلية التوسع لتطبيقات براءات الاختراع الخاصة بحوسبة الحافة

Network-1 Technologies, Inc. (NTIP) - مصفوفة أنسوف: التنويع

استكشف فرص الاستثمار في شركات التكنولوجيا الناشئة

في الربع الأول من عام 2022، خصصت Network-1 Technologies مبلغ 3.2 مليون دولار أمريكي للاستثمارات الإستراتيجية في الشركات الناشئة في مجال التكنولوجيا. تشمل القطاعات المستهدفة المحتملة ما يلي:

القطاع	إمكانات الاستثمار	محاذاة براءات الاختراع
شبكات 5G	1.5 مليون دولار	التوافق 87%
حوسبة الحافة	1.1 مليون دولار	التوافق 72%
الأمن السيبراني	$600,000	التوافق 65%

التحقيق في عمليات الاستحواذ المحتملة في المجالات التكنولوجية

حددت Network-1 Technologies 12 هدفًا محتملاً للاستحواذ مع محافظ براءات اختراع تكميلية. ميزانية الاستحواذ الحالية: 8.7 مليون دولار.

• متوسط قيمة محفظة براءات الاختراع: 2.3 مليون دولار
• المجالات التكنولوجية المستهدفة: الشبكات، الاتصالات
• معايير الاقتناء: الحد الأدنى 50 براءة اختراع فريدة

تطوير ذراع رأس المال الاستثماري للاستثمارات التكنولوجية

تخصيص رأس المال الاستثماري المقترح: 5.6 مليون دولار لتقنيات الاتصالات والشبكات.

فئة الاستثمار	الأموال المخصصة	عائد الاستثمار المتوقع
الشركات الناشئة في مرحلة البذور	2.1 مليون دولار	15-20%
شركات المرحلة المبكرة	2.5 مليون دولار	22-28%
شركات التكنولوجيا المتقدمة	1 مليون دولار	30-35%

قم بتوسيع نموذج الأعمال من خلال خدمات الاستشارات التكنولوجية

إيرادات الخدمات الاستشارية المتوقعة لعام 2023: 4.9 مليون دولار. انهيار الخدمة:

• استشارات ترخيص براءات الاختراع: 2.1 مليون دولار
• استشارات هندسة الشبكات: 1.5 مليون دولار
• خدمات استراتيجية التكنولوجيا: 1.3 مليون دولار

Network-1 Technologies, Inc. (NTIP) - Ansoff Matrix: Market Penetration

You're looking at how Network-1 Technologies, Inc. can maximize revenue from its existing intellectual property assets in the current technology sectors. This is about squeezing more value from the patents Network-1 Technologies, Inc. already holds and enforces today.

Aggressively enforce existing patent licenses against non-compliant users in the current tech space.

Network-1 Technologies, Inc. has definitely been active in enforcement. For instance, on September 8, 2025, Network-1 Technologies, Inc. commenced patent litigation against Optiver US LLC and Optiver Trading US LLC, focusing on the HFT Patent Portfolio. Also, on June 27, 2025, Network-1 Technologies, Inc. initiated patent litigation against Samsung Electronics Co., LTD and Samsung Electronics America, Inc. concerning the M2M/IoT Patent Portfolio, which involves technologies like eSIM and 5G.

Focus legal efforts on high-value infringement targets within the current industry vertical.

The focus on high-value targets is clear from the recent filings. The Samsung action targets infringement related to the M2M/IoT Patent Portfolio, which includes forty-one (41) issued U.S. patents and fifteen (15) issued non-U.S. patents. This portfolio is aimed at the growing eSIM ecosystem, where 2024 saw global eSIM device shipments surpass 500 million units. The company's cash and cash equivalents and marketable securities stood at $37,097,000 as of September 30, 2025, which supports these legal efforts, alongside a working capital position of $36,856,000.

Renegotiate higher royalty rates with major existing licensees upon contract renewal.

Historically, Network-1 Technologies, Inc. has seen significant returns from its established patents. The Remote Power Patent alone has generated licensing revenue in excess of $188,000,000 from May 2007 through September 30, 2025. Furthermore, the Mirror Worlds Patent Portfolio has achieved licensing and other revenue of $47,150,000 through September 30, 2025. These historical figures set a benchmark for any renewal negotiations.

Offer tiered licensing models to smaller companies to increase the total licensee count.

While specific details on tiered models aren't public, the sheer scale of the owned IP suggests a broad base of potential licensees. Network-1 Technologies, Inc. currently owns one-hundred fifteen (115) U.S. patents and seventeen (17) international patents as of September 2025. Increasing the total licensee count is a way to stabilize the lumpy revenue stream, which saw revenue of only $150,000 for the nine months ended September 30, 2025, derived from litigation settlements, up from $100,000 for the same period in 2024.

Here's a quick look at the monetization history for two key portfolios as of the end of the third quarter of 2025:

Patent Portfolio	Cumulative Revenue (Through Sept 30, 2025)	Revenue Period Start Date
Remote Power Patent	Over $188,000,000	May 2007
Mirror Worlds Patent Portfolio	$47,150,000	Prior to Q1 2025

The Market Penetration strategy relies on maximizing the yield from these existing assets, which can be summarized by the current IP holdings and recent financial activity:

• Total U.S. Patents owned: 115
• Total International Patents owned: 17
• Cash and Marketable Securities (Sept 30, 2025): $37,097,000
• Semi-annual cash dividend declared (Sept 2025): $0.05 per common share
• Market Capitalization (as of a recent report): $35.0 million

Finance: draft memo on potential royalty uplift targets for Cox portfolio renewals by end of Q1 2026.

Network-1 Technologies, Inc. (NTIP) - Ansoff Matrix: Market Development

You're looking at how Network-1 Technologies, Inc. can take its existing, proven patent assets and push them into new customer segments or new geographic areas. This is Market Development, and for Network-1 Technologies, Inc., it means finding new licensees for its current portfolios.

The company held 115 U.S. patents and 17 international patents as of September 30, 2025. For the nine months ended September 30, 2025, Network-1 Technologies, Inc. reported revenue of $150,000, which came from litigation settlements related to the Remote Power Patent. This is up from $100,000 for the same period in 2024. The Remote Power Patent has generated licensing revenue exceeding $188,000,000 since May 2007 through September 30, 2025.

License the Remote Power Patent Portfolio to companies in the industrial IoT (Internet of Things) sector

Targeting the Industrial IoT (IIoT) sector represents a clear market development path, as Network-1 Technologies, Inc.'s M2M/IoT Patent Portfolio specifically covers enabling technology for Internet of Things (IoT) Machine-to-Machine devices. The global IIoT market size in 2025 is estimated to be between $475 billion and $514 billion USD, with a projected Compound Annual Growth Rate (CAGR) of 17.20% through 2034. Manufacturing is the largest end-use segment, accounting for nearly 30% of total IIoT spend in 2024.

• The IIoT market is projected to reach $1,744.2 billion by 2035.
• Hardware currently dominates the IIoT component segment with a 46.7% share in 2025.
• The services segment in IIoT is expected to hit a CAGR of 24.3% from 2025 to 2034.

Target international markets, specifically major European or Asian tech manufacturers, for existing patents

Expanding geographic reach is key, leveraging the 17 international patents held by Network-1 Technologies, Inc. as of September 30, 2025. The Asia Pacific region is a dominant force in manufacturing, estimated to hold a 42.7% market share in 2025, valued at $14.85 trillion globally for the manufacturing market. The Patent Licensing Market, estimated at $150 billion in 2025, also sees Asia-Pacific as a key growth region.

Region	Manufacturing Market Share (2025 Estimate)	Relevant Growth Driver
Asia Pacific	42.7%	Rapid industrialization and digital transformation
Europe	23.7% or 23.75%	Robust manufacturing sector and government initiatives like Industrie 4.0

Adapt the Cox Patent Portfolio for use in non-traditional, adjacent industries like automotive or medical devices

Network-1 Technologies, Inc.'s current strategy includes efforts to monetize the Cox Patent Portfolio. The Cox Portfolio relates to technology for identifying media content and taking actions based on that identification, such as inserting advertisements. While the search results indicate that all patents in the Cox Portfolio have expired as of the third quarter of 2024, adjacent markets show significant IP activity. The Automotive segment is expected to lead the global manufacturing end-user segment, holding an estimated 21.4% share in 2025. The global Medical Device Market size is projected at $678.88 billion in 2025.

Initiate licensing discussions with large-scale cloud computing providers not yet under agreement

The general technology sector, which includes cloud computing, is expected to grow by 9.3% in 2025. Cybersecurity, a critical priority driven by IoT and cloud computing, is expected to cost the global economy $10.5 trillion in cybercrime by 2025. The global public cloud services spending was projected to reach $805 billion in 2024. Network-1 Technologies, Inc. has $37,097,000 in cash and cash equivalents and $36,856,000 in working capital as of September 30, 2025, providing liquidity for such discussions.

• The Mirror Worlds Patent Portfolio has generated $47,150,000 in revenue through September 30, 2025.
• The HFT Patent Portfolio patents range from October 2039 to February 2040.
• The Smart Home Patent Portfolio includes 8 U.S. patents and 1 international patent.

Network-1 Technologies, Inc. (NTIP) - Ansoff Matrix: Product Development

You're looking at how Network-1 Technologies, Inc. (NTIP) can grow by creating new offerings, which in their case means expanding and enhancing their intellectual property (IP) assets to generate new licensing revenue streams. This is about developing the product-the patent-itself.

Acquire new, high-value patent portfolios in emerging technologies like 5G or AI-driven networking.

Network-1 Technologies, Inc. (NTIP) has been actively acquiring portfolios. For instance, on April 2, 2025, they announced the acquisition of a portfolio from IoT Technologies and M2M Technologies, LLC, covering smart home IoT device interoperability and advanced security against quantum computers. This specific acquisition added eight (8) issued United States patents and one (1) international patent, along with eleven (11) pending United States patent applications and five (5) pending international patent applications. This aligns with their stated strategy of focusing on high-quality patents with significant licensing potential. The company's total IP count as of September 5, 2025, stands at one-hundred fifteen (115) U.S. patents and seventeen (17) international patents. Litigation activity also points to this strategy, with a suit against Samsung alleging infringement on patents within the M2M/IoT portfolio related to 5G network authentication.

Invest in internal R&D to develop and patent new features for existing licensed technologies.

While explicit R&D spending figures for 2025 aren't detailed, the development effort is evidenced by the maturation of acquired applications into issued patents. The High Frequency Trading (HFT) Patent Portfolio, acquired in March 2022, grew to eleven (11) issued U.S. patents by October 2024, up from the initial six (6), showing successful prosecution of pending applications. Following the April 2025 acquisition, Network-1 Technologies, Inc. (NTIP) stated they anticipate continuing to prosecute the pending applications and plan on filing several new patent applications based on the original filings. This internal development work is crucial for extending the life and scope of their assets.

Bundle current patent portfolios into new, premium licensing packages with higher fees.

The company's monetization efforts are spread across four key patent portfolios: M2M/IoT, HFT, Cox, and Smart Home. The M2M/IoT portfolio alone comprises 41 issued U.S. patents, 6 pending applications, and 15 issued non-U.S. patents. The success of past portfolios sets the benchmark for potential premium pricing on new bundles. For example, the Remote Power Patent has generated licensing revenue in excess of $188,000,000 from May 2007 through September 30, 2025, and the Mirror Worlds Patent Portfolio has generated $47,150,000 through the same date. The company's gross profit margin was reported at an impressive 81.2% as of June 2025, suggesting that successful licensing translates efficiently to the bottom line.

Purchase patents that complement existing portfolios to strengthen infringement claims.

Complementary acquisitions are a core part of the strategy to build stronger infringement cases. The April 2025 purchase, for instance, included technology for smart home IoT device interoperability, which directly supports the monetization focus on the M2M/IoT portfolio. The HFT portfolio, which covers technologies providing critical latency gains in trading systems, was also an acquisition designed to target a robust market segment. The company's current cash position of $37,097,000 and working capital of $36,856,000 as of September 30, 2025, provides the financial backing to execute these strategic purchases.

Here's a snapshot of the key patent portfolio metrics and historical performance:

Patent Portfolio	Key Technology Focus	Total Revenue Through September 30, 2025	Patent Term Extension Potential
Remote Power Patent	Power over Ethernet (PoE)	Over $188,000,000	Expired
Mirror Worlds Patent Portfolio	Document Stream Operating Systems	$47,150,000	Expired
M2M/IoT Portfolio	eSIM, 5G Network Authentication	Revenue from settlements in 2025: $150,000 (9 months)	Terms extend to 2033-2034
HFT Portfolio	High Frequency Trading, FPGA	No specific cumulative revenue listed	Terms range to October 2039 to February 2040

The focus on developing and acquiring new IP is happening while the company manages revenue generation primarily through litigation settlements, with nine-month 2025 revenue at $150,000. The company's ability to fund this product development strategy is supported by its balance sheet:

• Cash and marketable securities as of September 30, 2025: $37,097,000.
• Working capital at September 30, 2025: $36,856,000.
• Nine-month 2025 net loss: $1,386,000.
• Market capitalization as of June 2025: approximately $28.9 million.

This financial strength allows Network-1 Technologies, Inc. (NTIP) to continue investing in its core product-its patent portfolio.

Network-1 Technologies, Inc. (NTIP) - Ansoff Matrix: Diversification

You're looking at diversification for Network-1 Technologies, Inc. (NTIP) as a way to move beyond the established success of the Remote Power Patent, which has generated licensing revenue in excess of $188,000,000 from May 2007 through September 30, 2025. The company's current liquidity, with cash and marketable securities at $37,097,000 as of September 30, 2025, provides a solid base for these new ventures.

Acquire a minority stake in a promising, early-stage technology startup outside of current IP focus.

Network-1 Technologies, Inc. already has experience with this structure through its equity method investee, ILiAD Biotechnologies, LLC. For the nine months ended September 30, 2025, the share of the net loss from this investee was $1,095,000. This existing relationship shows the mechanism for taking a minority stake and sharing in the upside or downside of an external technology venture. The current cash position of $37,097,000 as of September 30, 2025, could fund a new, strategic minority investment without straining operations.

Form a subsidiary to directly commercialize a non-core patent through a product launch, not just licensing.

The company already operates through subsidiaries, such as HFT Solutions, LLC, which commenced patent litigation against OptiverUS LLC on September 8, 2025, for infringement of patents in the HFT Patent Portfolio. This shows a willingness to enforce rights aggressively, which is a step beyond pure licensing. To launch a product, Network-1 Technologies, Inc. could use its ClaimMaster software competency, which is an advanced patent drafting and prosecution tool, as a foundation for a direct-to-attorney product offering, rather than just licensing the underlying technology. The nine-month revenue through September 30, 2025, was $150,000, largely from litigation settlements, indicating that direct product revenue would be a significant shift.

Purchase a portfolio of patents focused on a completely new sector, like FinTech or clean energy.

Network-1 Technologies, Inc. executed a move into a new sector on April 2, 2025, by acquiring a patent portfolio related to advanced security technologies, including interoperability for smart home IoT devices and security against quantum computers. This acquisition included eight (8) issued U.S. patents and one (1) international patent. This action directly maps to diversifying into new sectors. The company's overall portfolio as of December 31, 2024, included one hundred and six (106) U.S. patents and sixteen (16) foreign patents, with fifty-four (54) U.S. patents having expired.

Establish a patent monetization consulting service for third-party IP owners.

The core business model already involves working with inventors and patent owners to develop and monetize their intellectual property, often retaining a stake in the company or royalties. This is a natural extension to a formal consulting service. Network-1 Technologies, Inc. promotes innovation by working with patent holders to assist in development and monetization. A formal service could charge a fixed fee or a success-based fee structure, which would provide a more consistent revenue stream than the lump-sum litigation settlements that generated the $150,000 revenue in the first nine months of 2025.

Here's a quick look at the current financial and portfolio snapshot as of late 2025:

Metric	Value as of September 30, 2025	Context
Cash & Marketable Securities	$37,097,000	Liquidity for new investments
Working Capital	$36,856,000	Operational funding capacity
Remote Power Patent Lifetime Revenue	Over $188,000,000	Benchmark for successful monetization
Mirror Worlds Portfolio Revenue (Cumulative)	$47,150,000	Revenue from a second major portfolio
Nine-Month 2025 Revenue	$150,000	Primarily from litigation settlements
Nine-Month 2025 Net Loss	$1,386,000	Net loss narrowed from $1,894,000 in prior year period

The company's strategy is clearly focused on acquiring high-quality patents with significant licensing potential. The recent litigation against Samsung and OptiverUS shows the active management of the M2M/IoT and HFT portfolios, respectively.

The Board also signaled confidence by extending the share repurchase program up to $5 million in June 2025. Since inception, 10,582,410 shares have been repurchased at an average price of $1.91.

Diversification efforts could look like this:

• Target acquisition of 5-10 patents in a new vertical like FinTech.
• Allocate up to $5,000,000 for a strategic minority equity investment.
• Formalize consulting by dedicating a team of 2-3 analysts using ClaimMaster expertise.
• Focus on generating the first $100,000 in non-licensing revenue from a new subsidiary product launch within 18 months.

What this estimate hides is the success rate of the newly acquired security portfolio from April 2025; if that portfolio yields a settlement similar to the $17,000,000 HP paid for the Remote Power Patent infringement, the diversification strategy is already paying off handsomely.

Finance: draft 13-week cash view by Friday.