Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.5.0.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 7,158,779 $ 2,555,151
Accounts receivable - net of allowance for bad debt of $387,976 and $375,750 for June 30, 2016 and December 31, 2015 128,337 136,842
Bonds posted with courts 2,383,069 1,748,311
Prepaid expenses and other current assets, net of discounts of $3,103 for June 30, 2016 and $3,414 for December 31, 2015 177,745 338,598
Total current assets 9,847,930 4,778,902
Other assets:    
Property and equipment, net of accumulated depreciation of $87,662 and $67,052 for June 30, 2016 and December 31, 2015 46,977 61,297
Intangible assets, net of accumulated amortization of $18,013,247 and $15,557,353 for June 30, 2016 and December 31, 2015 23,488,453 25,457,639
Deferred tax assets 8,893,421 12,437,741
Other non current assets, net of discounts of $3,279 and $4,831 for June 30, 2016 and December 31, 2015 204,721 9,169
Goodwill 4,453,945 4,482,845
Total other assets 37,087,517 42,448,691
Total Assets 46,935,447 47,227,593
Current liabilities:    
Accounts payable and accrued expenses 6,142,186 6,534,825
Clouding IP earn out - current portion   33,646
Notes payable, net of discounts of $788,320 and $730,945 for June 30, 2016 and December 31, 2015 8,793,806 10,383,177
Total current liabilities 14,935,992 16,951,648
Long-term liabilities    
Notes Payable, net of discount of $1,016,198 and $1,425,167 for June 30, 2016 and December 31, 2015 9,027,798 12,223,884
Clouding IP earn out 3,147,054 3,281,238
Deferred Tax Liability 789,690 1,044,997
Revenue share liability 1,000,000 1,000,000
Other long term liability 47,549 50,084
Total long-term liabilities 14,012,091 17,600,203
Total liabilities 28,948,083 34,551,851
Stockholders' Equity:    
Preferred stock Series B, $.0001 par value, 50,000,000 shares authorized: 782,004 and 782,004 issued and outstanding at June 30, 2016 78 78
Common stock, $.0001 par value; 200,000,000 shares authorized; 15,047,141 and 14,867,141 at June 30, 2016 and December 31, 2015 1,505 1,487
Additional paid-in capital 44,422,717 43,217,513
Accumulated other comprehensive income (loss) (1,168,556) (1,265,812)
Accumulated deficit (25,264,658) (29,277,524)
Total Marathon Patent Group stockholders' equity 17,991,086 12,675,742
Noncontrolling Interests (3,722)  
Total Equity 17,987,364 12,675,742
Total liabilities and stockholders' equity $ 46,935,447 $ 47,227,593