<SEC-DOCUMENT>0001072613-13-000306.txt : 20130723
<SEC-HEADER>0001072613-13-000306.hdr.sgml : 20130723
<ACCEPTANCE-DATETIME>20130722180030
ACCESSION NUMBER:		0001072613-13-000306
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20130722
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20130723
DATE AS OF CHANGE:		20130722

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NETWORK 1 SECURITY SOLUTIONS INC
		CENTRAL INDEX KEY:			0001065078
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				113027591
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15288
		FILM NUMBER:		13979995

	BUSINESS ADDRESS:	
		STREET 1:		445 PARK AVENUE
		STREET 2:		SUITE 1018
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2128295770

	MAIL ADDRESS:	
		STREET 1:		445 PARK AVENUE
		STREET 2:		SUITE 1018
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>form8k_17537.htm
<DESCRIPTION>FORM 8K DATED JULY 22, 2013
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 16pt; FONT-WEIGHT: bold">Form 8-K</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">CURRENT REPORT</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to Section 13 or 15(d) of the</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Securities Exchange Act of 1934</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported):&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;<font style="FONT-WEIGHT: bold">&#160;&#160;&#160;July 22, 2013&#160;&#160;&#160;&#160;&#160;</font></font></font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 20pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 20pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 20pt">Network-1 Security Solutions, Inc.</font></font></font></div>

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<td width="33%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">001-15288</font></font></td>
<td width="33%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">11-3027591</font></font></td>
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<td width="33%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(State or other jurisdiction</font></td>
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<td width="33%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">of incorporation)</font></td>
<td width="33%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">File Number)</font></td>
<td width="33%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Identification No.)</font></td>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline"><font style="FONT-WEIGHT: bold">445 Park Avenue, Suite 1020, New York, New York 10022</font></font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="FONT-STYLE: italic; DISPLAY: inline">see</font> General Instruction A.2. below):</font></div>

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<div style="TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On July 22, 2013, Abacus &amp; Associates, Inc. exercised a warrant to purchase 500,000 shares of common stock of Network-1 Security Solutions, Inc. (the &#8220;Company&#8221;), at an exercise price of $2.05 per share resulting in net proceeds to the Company of $1,025,000.&#160;&#160;In accordance with the Agreement, dated May 21, 2013, between the Company and Recognition Interface, LLC (&#8220;Recognition&#8221;), an affiliate of Abacus, entered into in connection with the Company&#8217;s acquisition of patents from Mirror Worlds, LLC, as a result of the warrant exercised by Abacus the Company is obligated to issue to Recognition, within five (5) business days of such warrant exercise, additional five (5) year warrants to purchase an aggregate of 250,000 shares of the Company&#8217;s common stock consisting of (i) warrants to purchase 125,000 shares at an exercise price of $2.10 per share and (ii) warrants to purchase 125,000 shares at an exercise price of $1.40 per share.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<td align="left" nowrap valign="top" width="40%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">/s/ <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Corey M. Horowitz</font></font></td>
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<td align="left" nowrap valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Name:&#160;<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Corey M. Horowitz</font></font></td>
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<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Title:&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Chairman &amp; Chief Executive Officer</font></font></td>
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