Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.5.0.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 1,294,950 $ 2,555,151
Accounts receivable - net of allowance for bad debt of $387,976 and $375,750 for September 30, 2016 and December 31, 2015 81,865 136,842
Bonds posted with courts 980,919 1,748,311
Prepaid expenses and other current assets, net of discounts of $2,483 for September 30, 2016 and $3,414 for December 31, 2015 153,388 338,598
Total current assets 2,511,122 4,778,902
Other assets:    
Property and equipment, net of accumulated depreciation of $98,347 and $67,052 for September 30, 2016 and December 31, 2015 38,389 61,297
Intangible assets, net of accumulated amortization of $16,438,642 and $15,557,353 for September 30, 2016 and December 31, 2015 19,551,678 25,457,639
Deferred tax assets 11,918,920 12,437,741
Other non current assets, net of discounts of $2,969 and $4,831 for September 30, 2016 and December 31, 2015 201,031 9,169
Goodwill 4,483,129 4,482,845
Total other assets 36,193,147 42,448,691
Total Assets 38,704,269 47,227,593
Current liabilities:    
Accounts payable and accrued expenses 6,054,015 6,534,825
Clouding IP earn out - current portion 110,100 33,646
Notes payable, net of discounts of $818,919 and $730,945 for September 30, 2016 and December 31, 2015 11,139,623 10,383,177
Total current liabilities 17,303,738 16,951,648
Long-term liabilities    
Notes payable, net of discount of $798,966 and $1,425,167 for September 30 , 2016 and December 31, 2015 6,456,740 12,223,884
Clouding IP earn out 1,082,586 3,281,238
Deferred tax liability 438,709 1,044,997
Revenue share liability 1,000,000 1,000,000
Other long term liability 45,763 50,084
Total long-term liabilities 9,023,798 17,600,203
Total Liabilities 26,327,536 34,551,851
Stockholders' Equity:    
Preferred stock Series B, $.0001 par value, 50,000,000 shares authorized: 782,004 issued and outstanding at September 30, 2016 and December 31, 2015 78 78
Common stock, $.0001 par value; 200,000,000 shares authorized; 15,047,141 and 14,867,141 at September 30, 2016 and December 31, 2015 1,505 1,487
Additional paid-in capital 44,901,535 43,217,513
Accumulated other comprehensive income (loss) (959,401) (1,265,812)
Accumulated deficit (31,539,066) (29,277,524)
Total Marathon Patent Group stockholders' equity 12,404,651 12,675,742
Noncontrolling Interests (27,918)  
Total Stockholders' Equity 12,376,733 12,675,742
Total liabilities and stockholders' equity $ 38,704,269 $ 47,227,593