SEC Filing Summary: Marathon Patent Group, Inc. (8-K)
Business Context and Reporting Period
This Form 8-K was filed by Marathon Patent Group, Inc. on October 22, 2018, reporting an event that occurred on October 17, 2018. The company is incorporated in Nevada and its principal executive offices are located in Las Vegas, Nevada.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on regulatory compliance status regarding stock listing requirements.
Material Changes
On October 17, 2018, the Company received written notification from the Nasdaq Stock Market LLC regarding a failure to satisfy the minimum bid price requirement under Listing Rule 5550(a)(2). Specifically, the Company's common stock failed to maintain a minimum bid price of $1.00 for the last 30 consecutive business days (September 5, 2018, through October 16, 2018).
Outlook, Risks, and Contingencies
- Delisting Status: The notification does not result in immediate delisting; the common stock will continue to trade on the Nasdaq Capital Market.
- Compliance Period: The Company has been granted a 180-calendar-day period to regain compliance, ending on April 15, 2019.
- Compliance Requirement: To close this matter, the Company must achieve a closing bid price of at least $1.00 for a minimum of ten consecutive business days at any time during the 180-day period.
Investor Verification Checklist
- Verify the current trading price of Marathon Patent Group, Inc. stock to assess proximity to the $1.00 threshold.
- Monitor future 8-K filings for updates on the Company's progress toward regaining compliance by the April 15, 2019 deadline.
- Review the Company's most recent 10-K or 10-Q filings for financial context, as this 8-K contains no financial performance data.