Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Operations and Comprehensive Income (Unaudited)

v3.8.0.1
Consolidated Condensed Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Revenues $ 162,713 $ 43,113 $ 609,650 $ 36,452,551
Expenses        
Cost of revenues 64,836 1,094,378 1,544,322 19,202,118
Amortization of patents and website 457,419 2,030,886 1,803,264 6,018,196
Compensation and related taxes 1,871,946 1,252,571 3,718,034 3,406,841
Consulting fees 133,018 257,420 189,819 903,032
Professional fees 616,125 432,496 1,686,955 1,336,201
General and administrative 213,130 183,771 599,416 612,284
Goodwill impairment 0 83,000 0 83,000
Patent impairment 723,218 5,531,383 723,218 6,525,273
Total operating expenses 4,079,092 10,782,905 10,265,028 38,086,945
Operating loss from continuing operations (3,916,979) (10,739,792) (9,655,378) (1,634,394)
Other income (expenses)        
Other income (expense) 2,252,886 (37,116) 3,151,418 (68,647)
Foreign exchange (loss) (480,240) (175,850) (463,191) (238,073)
Loss on debt extinguishment (283,237) (283,237)
Loss on sale of company (1,519,875) (1,519,875)
Change in fair value adjustment of Clouding IP earn out 754,321 1,954,378 768,200 2,122,208
Warrant income (expense) (1,909,879) (1,914,786)
Interest income 931 931 2,793 2,793
Interest expense (1,283,223) (649,065) (2,416,722) (2,500,321)
Total other income (expenses) (2,468,316) 1,093,278 (2,675,400) (682,040)
Loss from continuing operations before benefit for income taxes (6,385,295) (9,646,514) (12,330,778) (2,316,434)
Income tax benefit (expense) (12,191) 3,347,909 (29,433) 26,974
Net Income (loss) (6,397,486) (6,298,605) (12,360,211) (2,289,460)
Net income (loss) attributable to Noncontrolling interests (280,000) 24,195 (124,714) 27,918
Net (loss) attributable to common shareholders $ (6,677,486) $ (6,274,410) $ (12,484,925) $ (2,261,542)
Income (loss) per common share:        
Basic $ (1.06) $ (1.67) $ (2.24) $ (0.61)
Diluted
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic 6,270,299 3,761,786 5,564,465 3,736,213
Net loss $ (6,677,486) $ (6,274,410) $ (12,484,925) $ (2,261,542)
Other comprehensive loss:        
Unrealized gain on foreign currency translation 482,622 209,159 609,768 306,411
Comprehensive loss (6,194,864) (6,065,251) (11,875,157) (1,955,131)
Less: comprehensive income (loss) related to non-controlling interest (280,000) 24,195 (124,714) 27,918
Comprehensive loss attributable to Marathon Patent Group, Inc. $ (6,474,864) $ (6,041,056) $ (11,999,871) $ (1,927,213)