Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash $ 1,420,390 $ 2,555,151
Accounts receivable - net of allowance for bad debt of $375,750 and $375,750 for March 31, 2016 and December 31, 2015 153,112 136,842
Bonds posted with courts 1,443,457 1,748,311
Prepaid expenses and other current assets, net of discounts of $3,414 and $3,414 for March 31, 2016 and December 31, 2015 146,336 338,598
Total current assets 3,163,295 4,778,902
Other assets:    
Property and equipment, net of accumulated depreciation of $77,653 and $67,052 for March 31, 2016 and December 31, 2015 52,793 61,297
Intangible assets, net of accumulated amortization of $16,423,203 and $15,557,353 for March 31, 2016 and December 31, 2015 23,208,298 25,457,639
Deferred tax assets 14,385,393 12,437,741
Other non current assets, net of discounts of $3,900 and $4,831 and $0 for March 31, 2016 and December 31, 2015 207,100 9,169
Goodwill 4,605,733 4,482,845
Total other assets 42,459,317 42,448,691
Total Assets 45,622,612 47,227,593
Current liabilities:    
Accounts payable and accrued expenses 8,832,010 6,534,825
Clouding IP earn out - current portion 103,049 33,646
Notes payable, net of discounts of $754,421 and $730,945 for March 31, 2016 and December 31, 2015 11,379,212 10,383,177
Total current liabilities 20,314,271 16,951,648
Long-term liabilities    
Notes payable, net of discount of $1,224,817 and $1,425,167 for March 31, 2016 and December 31, 2015 10,493,877 12,223,884
Clouding IP earn out 3,213,177 3,281,238
Deferred tax liability 964,998 1,044,997
Revenue share liability 1,000,000 1,000,000
Other long term liability 49,075 50,084
Total long-term liabilities 15,721,127 17,600,203
Total liabilities 36,035,398 34,551,851
Stockholders' Equity:    
Preferred stock Series B, $.0001 par value, 50,000,000 shares authorized: 782,004 and 782,004 issued and outstanding at March 31, 2016 and December 31, 2015 78 78
Common stock, $.0001 par value; 200,000,000 shares authorized; 14,967,141 and 14,867,141 at March 31, 2016 and December 31, 2015 1,497 1,487
Additional paid-in capital 43,774,961 43,217,513
Accumulated other comprehensive (loss) (1,018,385) (1,265,812)
Accumulated deficit (33,170,937) (29,277,524)
Total Marathon Patent Group stockholders' equity 9,587,214 12,675,742
Total liabilities and stockholders' equity $ 45,622,612 $ 47,227,593