Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.20.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenues    
Total revenues $ 1,185,227 $ 1,562,372
Operating costs and expenses    
Cost of revenue 2,482,181 3,351,758
Impairment of mining equipment 2,222,688
Impairment of leasehold improvements 447,776
Compensation and related taxes 1,475,450 1,984,301
Consulting fees 130,813 639,094
Professional fees 422,335 1,216,820
General and administrative 465,783 1,374,047
Break-up fee - issuance of shares to GBV 2,850,000
Total operating expenses 5,424,338 13,638,708
Operating loss (4,239,111) (12,076,336)
Other income (expenses)    
Gain from extinguishment of debt 181,995 112,471
Foreign exchange (loss) gain (11,873) 28,918
Realized gain (loss) on sale of digital currencies 36,092 (152,485)
Change in fair value of warrant liability 26,234 1,699,522
Change in fair value of mining payable 507,862
Amortization of debt discount (2,290,028)
Interest income 33,651 14,230
Interest expense (51,915) (81,482)
Total other income (expenses) 722,046 (668,854)
Loss before income taxes (3,517,065) (12,745,190)
Income tax expense (69,134)
Net loss attributable to common stockholders $ (3,517,065) $ (12,814,324)
Net loss per share, basic and diluted: $ (0.53) $ (2.41)
Weighted average shares outstanding, basic and diluted: 6,664,238 5,315,944
Net loss $ (3,517,065) $ (12,814,324)
Other comprehensive income:    
Unrealized gain on foreign currency translation 15
Comprehensive loss attributable to Marathon Patent Group, Inc. (3,517,065) (12,814,309)
Cryptocurrency Mining Revenue [Member]    
Revenues    
Total revenues 1,185,227 1,495,402
Other Revenue [Member]    
Revenues    
Total revenues $ 66,970