CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
| CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||
| Revenues | $ 368,800 | $ 34,349,762 | $ 446,937 | $ 36,409,438 |
| Expenses | ||||
| Cost of revenues | 1,024,078 | 15,467,763 | 1,479,486 | 18,107,740 |
| Amortization of patents and website | 639,887 | 1,961,411 | 1,345,846 | 3,987,310 |
| Compensation and related taxes | 760,542 | 1,120,924 | 1,846,088 | 2,154,270 |
| Consulting fees | 85,580 | 364,836 | 56,801 | 645,612 |
| Professional fees | 645,144 | 498,212 | 1,070,830 | 903,705 |
| General and administrative | 142,281 | 223,130 | 386,286 | 428,513 |
| Goodwill impairment | 0 | 83,000 | 0 | 83,000 |
| Patent impairment | 620,696 | 993,890 | ||
| Total operating expenses | 3,297,512 | 20,339,972 | 6,185,337 | 27,304,040 |
| Operating income (loss) from operations | (2,928,712) | 14,009,790 | (5,738,400) | 9,105,398 |
| Other income (expenses) | ||||
| Other income (expenses) | 913,357 | (17,745) | 898,532 | (31,532) |
| Foreign exchange gain (loss) | 102,913 | (69,201) | 17,050 | (62,223) |
| Change in fair value adjustment of Clouding IP earn out | 169,172 | 13,879 | 167,830 | |
| Warrant income (expense) | 208,301 | (4,907) | ||
| Interest income | 621 | 931 | 1,862 | 1,862 |
| Interest expense | (564,680) | (844,407) | (1,133,499) | (1,851,256) |
| Total other income (expenses) | 660,512 | (761,250) | (207,083) | (1,775,319) |
| Loss before benefit for income taxes | (2,268,200) | 13,248,540 | (5,945,483) | 7,330,079 |
| Income tax expense | (17,242) | (5,345,983) | (17,242) | (3,320,935) |
| Net income (loss) | (2,285,442) | 7,902,557 | (5,962,725) | 4,009,144 |
| Net loss attributable to non-controlling interests | 84,650 | 3,722 | 155,286 | 3,722 |
| Net income (loss) attributable to common shareholders | $ (2,200,792) | $ 7,906,279 | $ (5,807,439) | $ 4,012,866 |
| Income (loss) per common share: | ||||
| Basic (in dollars per share) | $ (0.10) | $ 0.53 | $ (0.28) | $ 0.27 |
| Fully Diluted (in dollars per share) | $ (0.10) | $ 0.49 | $ (0.28) | $ 0.25 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||||
| Basic (in shares) | 22,566,648 | 14,994,697 | 20,822,791 | 14,980,919 |
| Fully diluted (in shares) | 22,566,648 | 16,031,564 | 20,822,791 | 16,017,786 |
| Net loss | $ (2,200,792) | $ 7,906,279 | $ (5,807,439) | $ 4,012,866 |
| Other Comprehensive Loss: | ||||
| Unrealized gain (loss) on foreign currency translation | 126,062 | (150,171) | 127,144 | 97,256 |
| Comprehensive loss | (2,074,730) | 7,756,108 | (5,680,295) | 4,110,122 |
| Less: comprehensive income related to non-controlling interest | 84,650 | 3,722 | 155,286 | 3,722 |
| Comprehensive loss attributable to Marathon Patent Group, Inc. | $ (1,990,080) | $ 7,759,830 | $ (5,525,009) | $ 4,113,844 |
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- Definition Amount of Amount of recognition of income (expense) from warrants. (expense) on warrants. No definition available.
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- Definition Represents information pertaining to change in fair value adjustment of earnout liability. No definition available.
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- Definition Professional and contract service expense (benefit) includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of effect of exchange rate changes on cash balances held in foreign currencies. Excludes cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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