Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOROWITZ COREY M
   2. Issuer Name and Ticker or Trading Symbol
NETWORK 1 SECURITY SOLUTIONS INC [NSSI-OTC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CEO and Chairman
(Last)
(First)
(Middle)
C/O CMH CAPITAL MANAGEMENT CORP., 445 PARK AVENUE, SUITE 1028		 3. Date of Earliest Transaction (Month/Day/Year)
02/28/2007
(Street)

NEW YORK, NY 10022		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to purchase common stock $ 1.46 02/28/2007   A   375,000   03/31/2007(1) 02/28/2012 Common stock 375,000 (2) 375,000 D  
Warrant to purchase common stock $ 1.48 02/28/2007   J   250,000   02/28/2007 10/08/2010 Common stock 250,000 (3) 250,000 I See Footnote (4)
Option to purchase common stock $ 1.2 02/28/2007   J   750,000   02/28/2007 04/18/2010 Common stock 750,000 (3) 750,000 I See footnotes (4)
Option to purchase common stock $ 0.23 02/28/2007   J   1,084,782   02/28/2007 12/22/2011 Common stock 1,084,782 (3) 1,084,782 D  
Option to purchase common stock $ 0.13 02/28/2007   J   515,218   02/28/2007 12/22/2011 Common stock 515,218 (3) 515,218 D  
Option to purchase common stock $ 6 02/28/2007   J   20,000   02/28/2007 10/20/2011 Common stock 20,000 (3) 20,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOROWITZ COREY M
C/O CMH CAPITAL MANAGEMENT CORP.
445 PARK AVENUE, SUITE 1028
NEW YORK, NY 10022		   X   X   CEO and Chairman  
CMH CAPITAL MANAGEMENT CORP
445 PARK AVENUE
SUITE 1028
NEW YORK, NY 10021		     X    

Signatures

 By: /s/ Corey M. Horowitz   03/01/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The shares of common stock underlying the option vest in equal quarterly amounts of 93,750 shares beginning March 31, 2007 through December 31, 2007.
(2) The options were issued pursuant to an Employment Agreement, Dated February 28, 2007, between the issuer and the reporting person.
(3) In accordance with the Employment Agreement, dated February 28, 2007, between the Issuer and the Reporting Person, the expiration date of such options or warrants was extended for an additional 3 years.
(4) The options or warrants are owned by CMH Capital Management Corp., an entity in which the reporting person is the sole officer, director and stockholder.

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