Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED CONDENSED BALANCE SHEETS

v3.7.0.1
CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash $ 493,452 $ 4,998,314
Accounts receivable - net of allowance for bad debt of $387,976 for March 31, 2017 and December 31, 2016, respectively 103,397 95,069
Bonds posted with courts 351,647  
Note Receivable 588,864 225,982
Prepaid expenses and other current assets, net of discounts of $3,279 for March 31, 2017 and $3,724 for December 31, 2016 226,088 202,067
Total current assets 1,763,448 5,521,432
Other assets:    
Property and equipment, net of accumulated depreciation of $118,420 and $108,407 for March 31, 2017 and December 31, 2016 20,414 28,329
Intangible assets, net of accumulated amortization of $12,028,755 and $11,323,189 for March 31, 2017 and December 31, 2016 11,683,170 12,314,628
Other non current assets, net of discounts of $797 for March 31, 2017 and December 31, 2016, respectively 200,000 201,203
Goodwill 224,353 222,843
Total other assets 12,127,937 12,767,003
Total Assets 13,891,385 18,288,435
Current liabilities:    
Accounts payable and accrued expenses 6,117,663 7,217,078
Clouding IP earn out - current portion 81,930 81,930
Notes payable, net of discounts of $440,219 and $852,404 for March 31, 2017 and December 31, 2016 3,666,278 13,162,007
Total current liabilities 9,865,871 20,461,015
Long-term liabilities    
Notes Payable, net of discount of $572,763 and $57,763 for March 31, 2017 and December 31, 2016 12,685,536 4,670,502
Clouding IP earn out 1,386,203 1,400,082
Revenue share liability 1,225,000 1,000,000
Other long term liability 255,400 43,978
Total long-term liabilities 15,552,139 7,114,562
Total liabilities 25,418,010 27,575,577
Stockholders' equity (deficit):    
Preferred stock Series B, $.0001 par value, 100,000,000 shares authorized: 782,004 issued and outstanding at March 31, 2017 and December 31, 2016 78 78
Common stock, $.0001 par value; 200,000,000 shares authorized; 19,302,472 and 18,552,472 issued at March 31, 2017 and December 31, 2016 2,627 1,877
Additional paid-in capital 51,313,656 49,877,689
Accumulated other comprehensive loss (1,059,308) (1,060,390)
Accumulated deficit (61,549,194) (57,942,548)
Total Marathon Patent Group stockholders' equity (deficit) (11,292,141) (9,123,294)
Noncontrolling Interests (234,484) (163,848)
Total stockholders' equity (deficit) (11,526,625) (9,287,142)
Total liabilities and stockholders' equity (deficit) $ 13,891,385 $ 18,288,435