Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Balance Sheets (Unaudited)

v3.8.0.1
Consolidated Condensed Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash $ 122,172 $ 4,998,314
Restricted Cash 3,919,718
Total cash 4,041,890 4,998,314
Accounts receivable - net of allowance for bad debt of $387,976 and $387,976 for September 30, 2017 and December 31, 2016 123,630 95,069
Note receivable 588,864 225,982
Prepaid expenses and other current assets, net of discounts of $2,659 for September 30, 2017 and $3,724 for December 31, 2016 108,878 202,067
Total current assets 4,863,262 5,521,432
Other assets:    
Property and equipment, net of accumulated depreciation of $133,224 and $108,407 for September 30, 2017 and December 31, 2016 9,803 28,329
Intangible assets, net of accumulated amortization of $12,813,915 and $11,323,185 for September 30, 2017 and December 31, 2016 7,590,213 12,314,628
Other non current assets, net of discounts of $797 for December 31, 2016 201,203
Goodwill 228,401 222,843
Total other assets 7,828,417 12,767,003
Total Assets 12,691,679 18,288,435
Current liabilities:    
Accounts payable and accrued expenses 1,954,836 7,217,078
Clouding IP earn out - current portion 32,637 81,930
Revenue share liability 1,225,000
Warrant liability 2,411,750
Notes payable, net of discounts of $5,837,363 and $852,404 for September 30, 2017 and December 31, 2016 15,582,156 13,162,007
Total current liabilities 21,206,379 20,461,015
Long-term liabilities    
Notes Payable, net of discount of $57,763 for December 31, 2016 4,670,502
Clouding IP earn out 681,175 1,400,082
Revenue share liability 1,000,000
Other long term liability 37,236 43,978
Total long-term liabilities 718,411 7,114,562
Total liabilities 21,924,790 27,575,577
Stockholders' Deficit:    
Preferred stock Series B, $.0001 par value, 50,000,000 shares authorized: 195,501 issued and outstanding at September 30, 2017 and December 31, 2016 78 78
Common stock, $.0001 par value; 200,000,000 shares authorized; 7,776,016 and 4,638,118 at September 30, 2017 and December 31, 2016 3,111 1,856
Additional paid-in capital 61,833,077 49,877,710
Accumulated other comprehensive income (loss) (450,623) (1,060,390)
Accumulated deficit (70,427,472) (57,942,548)
Total Marathon Patent Group stockholders' equity (9,041,829) (9,123,294)
Noncontrolling interests (191,282) (163,848)
Total deficit (9,233,111) (9,287,142)
Total liabilities and stockholders' deficit $ 12,691,679 $ 18,288,435