Network-1 Technologies, Inc. (AMEX:NTIP) acquired a patent portfolio relating to several key technologies of M2M and IoT Technologies, LLC on December 29, 2017. Under the terms of the transaction, Network-1 Technologies paid $1 million to acquire the M2M/IoT Patent Portfolio and has an obligation to pay M2M 14% of the first $100 million of net proceeds and 5% of net proceeds greater than $100 million from Monetization Activities. In addition, M2M will be entitled to receive $0.25 million of additional consideration upon the occurrence of certain future events related to the patent portfolio. The acquired portfolio includes twelve issued United States patents relating to, among other things, the enabling technology for authenticating and using embedded SIM cards in next generation IoT, Machine-to-Machine, and other mobile devices, including smartphones, tablets and computers as well as automobiles and drones. The portfolio also includes seven pending United States patent applications and nine pending International patent applications. Network-1 Technologies, Inc. (AMEX:NTIP) completed the acquisition of a patent portfolio relating to several key technologies of M2M and IoT Technologies, LLC for $1 million on December 29, 2017. Network-1 Technologies, Inc., paid $1 million to acquire the M2M patents and have an obligation to pay M2M 14% of the first $100 million of net proceeds (after deduction of expenses) and 5% of net proceeds greater than $100 million from Monetization Activities (as defined) related to our M2M/IoT Patent Portfolio. In addition, M2M will be entitled to receive from Network-1 Technologies, Inc., $0.25 million of additional consideration upon the occurrence of certain future events related to the patent portfolio.