Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED CONDENSED BALANCE SHEETS

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CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash $ 1,095,721 $ 4,998,314
Accounts receivable - net of allowance for bad debt of $387,976 as of June 30, 2017 and December 31, 2016 116,336 95,069
Bonds posted with courts 375,603  
Note receivable 588,864 225,982
Prepaid expenses and other current assets, net of discounts of $2,659 for June 30, 2017 and $3,724 for December 31, 2016 128,718 202,067
Total current assets 2,305,242 5,521,432
Other assets:    
Property and equipment, net of accumulated depreciation of $128,718 and $108,407 for June 30, 2017 and December 31, 2016 12,213 28,329
Intangible assets, net of accumulated amortization of $12,691,608 and $11,323,185 for June 30, 2017 and December 31, 2016 11,358,722 12,314,628
Other non current assets, net of discounts of $0 for June 30, 2017 and $797 for December 31, 2016 200,000 201,203
Goodwill 224,353 222,843
Total other assets 11,795,288 12,767,003
Total Assets 14,100,530 18,288,435
Current liabilities:    
Accounts payable and accrued expenses 5,294,616 7,217,078
Clouding IP earn out - current portion 81,930 81,930
Notes payable, net of discounts of $503,572 for June 30, 2017 and $852,404 for December 31, 2016 5,622,173 13,162,007
Total current liabilities 10,998,719 20,461,015
Long-term liabilities    
Notes Payable, net of discount of $1,302,129 for June 30, 2017 and $57,763 for December 31, 2016 11,499,723 4,670,502
Clouding IP earn out 1,386,203 1,400,082
Revenue share liability 1,225,000 1,000,000
Other long term liability 39,853 43,978
Total long-term liabilities 14,150,779 7,114,562
Total liabilities 25,149,498 27,575,577
Stockholders' Deficit:    
Preferred stock Series B, $.0001 par value, 100,000,000 shares authorized: 782,004 issued and outstanding at June 30, 2017 and December 31, 2016 78 78
Common stock, $.0001 par value; 200,000,000 shares authorized; 23,257,472 at June 30, 2017 and 18,552,472 at December 31, 2016 2,326 1,856
Additional paid-in capital 53,950,993 49,877,710
Accumulated other comprehensive (loss) (933,245) (1,060,390)
Accumulated deficit (63,749,987) (57,942,548)
Total Marathon Patent Group Stockholders' Deficit (10,729,834) (9,123,294)
Non-controlling Interests (319,134) (163,848)
Total Equity (11,048,968) (9,287,142)
Total liabilities and stockholders' equity $ 14,100,530 $ 18,288,435