SEC Filing Summary: Marathon Patent Group, Inc. (8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed on February 20, 2013, by Marathon Patent Group, Inc. (formerly American Strategic Minerals Corporation). The filing reports corporate governance actions approved by shareholders on February 15, 2013, including a name change and authorization for a reverse stock split.
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 corporate structural changes rather than financial performance.
Material Changes
- Name Change: The Company officially changed its name from American Strategic Minerals Corporation to Marathon Patent Group, Inc. The Certificate of Amendment was filed with the State of Nevada on February 15, 2013.
- Trading Symbol: The new ticker symbol "MARA" became effective on the Over-the-Counter Bulletin Board on February 21, 2013, pending FINRA approval.
- Reverse Stock Split Authorization: Shareholders authorized the Board to effectuate a 3-for-2 reverse stock split within one year of approval.
- Voting Results: Approximately 54.6% of outstanding shares (25,408,793 shares) voted in favor of the proposals. Approximately 45.4% (21,304,184 shares) abstained. No shares were cast against the proposals.
Guidance, Outlook, and Risks
The filing contains standard forward-looking statement disclaimers regarding operating results and future prospects. It notes that actual results may differ materially from anticipated results due to inherent uncertainties and risks. No specific financial guidance or management commentary on future operations is provided in this document.
Investor Verification Checklist
- Confirm the effective date of the new ticker symbol "MARA" on the Over-the-Counter Bulletin Board.
- Monitor future Board announcements regarding the timing and execution of the authorized 3-for-2 reverse stock split.
- Review the Definitive Proxy Statement (Schedule 14A) filed on February 5, 2013, for detailed rationale behind the name change and capital structure adjustments.
- Verify the Company's current financial status in subsequent periodic reports (10-K or 10-Q), as this 8-K contains no financial data.