NETWORK-1 TECHNOLOGIES, INC. — Director's Dealing 2011

May 24, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETWORK 1 SECURITY SOLUTIONS INC (NSSI-OTC)
CIK: 0001065078
Period of Report: 2011-05-20

Reporting Person: HOROWITZ COREY M (Director, CEO & Chairman, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-20	Option to purchase common stock	$0.68	J	20000	Acquired	2014-10-20	Common Stock (20000)	Direct
2011-05-20	Option to purchase common stock	$0.13	J	515218	Acquired	2014-12-12	Common Stock (515218)	Direct
2011-05-20	Warrant to purchase common stock	$0.68	J	300000	Acquired	2014-07-11	Common Stock (300000)	Indirect

Footnotes

F1: The expiration dates of the previously issued options and warrants were extended for three years by the Board of Directors on May 20, 2011.

F2: The warrants are owned directly by CMH Capital Management Corp. and indirectly by Corey M. Horowitz. CMH Capital Management Corp. is an entity in which Corey Horowitz is the sole officer, director and shareholder.