SEC Filing Summary: Marathon Patent Group, Inc. (MARA)
Business Context and Reporting Period
This Form 8-K was filed by Marathon Patent Group, Inc. on May 21, 2019. The registrant is incorporated in Nevada and its common stock trades on The Nasdaq Capital Market under the symbol "MARA". The report addresses a regulatory notification received on the filing date regarding compliance with continued listing standards.
Key Financial Metrics
The filing references specific financial data from the Company's Form 10-Q for the period ended March 31, 2019:
- Stockholders' Equity: $2,158,192
- Minimum Required Equity for Listing: $2,500,000
- Revenue, Profit, Cash Flow, and Debt: The filing text does not provide clear values for these metrics.
Material Changes and Listing Status
The Company received notice from the Nasdaq Capital Market that it failed to maintain the minimum stockholders' equity requirement of $2,500,000 under Listing Rule 5550(b)(1). This deficiency is based on the reported equity of $2,158,192 in the most recent quarterly report.
Outlook, Risks, and Contingencies
Compliance Plan: The Company has 45 calendar days from the date of the notice to submit a plan to regain compliance with Nasdaq listing standards.
Extension Possibility: If the plan is accepted, the Nasdaq Capital Market may grant an extension of up to 180 calendar days to evidence compliance.
Forward-Looking Statements: The filing includes standard disclaimers that actual results may differ significantly from anticipated results due to risks and uncertainties. The Company does not intend to update forward-looking statements except as required by law.
Investor Verification Checklist
- Verify the Company's submission of a compliance plan to Nasdaq within the 45-day window.
- Monitor the Nasdaq Capital Market's acceptance of the proposed plan and any granted extensions.
- Review the full Form 10-Q for the period ended March 31, 2019, for detailed revenue, cash flow, and debt metrics not included in this 8-K.
- Track the Company's stockholders' equity in subsequent filings to confirm restoration of the $2,500,000 threshold.