10-Q Filing

MARA HOLDINGS, INC. CIK: 1507605 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001104659-16-120481`
Period End Date	20160331
Filing Date	20160512
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	mara-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 89 Income Statement 42 Cash Flow Statement 62

Balance Sheet 89 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$1.42M	USD	Point-in-time
Cash	`Cash`	$9.48M	USD	Point-in-time
Cash	`Cash`	$2.56M	USD	Point-in-time
Cash	`Cash`	$5.08M	USD	Point-in-time
Accounts receivable - net of allowance for bad debt of $375,750 and $375,750 for March 31, 2016 and December 31, 2015	`AccountsReceivableNetCurrent`	$136.84K	USD	Point-in-time
Accounts receivable - net of allowance for bad debt of $375,750 and $375,750 for March 31, 2016 and December 31, 2015	`AccountsReceivableNetCurrent`	$153.11K	USD	Point-in-time
Bonds posted with courts	`BondsPostedWithCourts`	$1.75M	USD	Point-in-time
Bonds posted with courts	`BondsPostedWithCourts`	$1.44M	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	$375.75K	USD	Point-in-time
Prepaid expenses and other current assets, net of discounts of $3,414 and $3,414 for March 31, 2016 and December 31, 2015	`PrepaidExpenseAndOtherAssetsCurrent`	$146.34K	USD	Point-in-time
Allowance for bad debt	`AllowanceForDoubtfulAccountsReceivableCurrent`	$375.75K	USD	Point-in-time
Prepaid expenses and other current assets, net of discounts of $3,414 and $3,414 for March 31, 2016 and December 31, 2015	`PrepaidExpenseAndOtherAssetsCurrent`	$338.60K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.78M	USD	Point-in-time
Discounts on prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrentDiscount`	$3.41K	USD	Point-in-time
Discounts on prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrentDiscount`	$3.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.16M	USD	Point-in-time
Accumulated depreciation of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$77.65K	USD	Point-in-time
Accumulated depreciation of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$67.05K	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $77,653 and $67,052 for March 31, 2016 and December 31, 2015	`PropertyPlantAndEquipmentNet`	$52.79K	USD	Point-in-time
Accumulated amortization of Intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$15.56M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $77,653 and $67,052 for March 31, 2016 and December 31, 2015	`PropertyPlantAndEquipmentNet`	$61.30K	USD	Point-in-time
Accumulated amortization of Intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$16.42M	USD	Point-in-time
Discount on other noncurrent assets	`OtherNoncurrentAssetsDiscount`	$3.90K	USD	Point-in-time
Discount on other noncurrent assets	`OtherNoncurrentAssetsDiscount`	$4.83K	USD	Point-in-time
Intangible assets, net of accumulated amortization of $16,423,203 and $15,557,353 for March 31, 2016 and December 31, 2015	`FiniteLivedIntangibleAssetsNet`	$25.46M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $16,423,203 and $15,557,353 for March 31, 2016 and December 31, 2015	`FiniteLivedIntangibleAssetsNet`	$23.21M	USD	Point-in-time
Discount on notes payable	`NotesPayableCurrentDiscount`	$754.42K	USD	Point-in-time
Discount on notes payable	`NotesPayableCurrentDiscount`	$730.95K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$12.44M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$14.39M	USD	Point-in-time
Discount on notes payable	`LongTermNotesPayableDiscount`	$1.43M	USD	Point-in-time
Other non current assets, net of discounts of $3,900 and $4,831 and $0 for March 31, 2016 and December 31, 2015	`OtherAssetsNoncurrent`	$207.10K	USD	Point-in-time
Discount on notes payable	`LongTermNotesPayableDiscount`	$1.22M	USD	Point-in-time
Other non current assets, net of discounts of $3,900 and $4,831 and $0 for March 31, 2016 and December 31, 2015	`OtherAssetsNoncurrent`	$9.17K	USD	Point-in-time
Goodwill	`Goodwill`	$4.48M	USD	Point-in-time
Goodwill	`Goodwill`	$4.61M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$42.46M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$42.45M	USD	Point-in-time
Total Assets	`Assets`	$45.62M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Total Assets	`Assets`	$47.23M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.83M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Clouding IP earn out - current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$33.65K	USD	Point-in-time
Clouding IP earn out - current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$103.05K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.97M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.87M	shares	Point-in-time
Notes payable, net of discounts of $754,421 and $730,945 for March 31, 2016 and December 31, 2015	`NotesPayableCurrent`	$11.38M	USD	Point-in-time
Notes payable, net of discounts of $754,421 and $730,945 for March 31, 2016 and December 31, 2015	`NotesPayableCurrent`	$10.38M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.97M	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.31M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.87M	shares	Point-in-time
Notes payable, net of discount of $1,224,817 and $1,425,167 for March 31, 2016 and December 31, 2015	`LongTermNotesPayable`	$10.49M	USD	Point-in-time
Notes payable, net of discount of $1,224,817 and $1,425,167 for March 31, 2016 and December 31, 2015	`LongTermNotesPayable`	$12.22M	USD	Point-in-time
Clouding IP earn out	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$3.21M	USD	Point-in-time
Clouding IP earn out	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$3.28M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$965.00K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$1.04M	USD	Point-in-time
Revenue share liability	`DeferredRevenueNoncurrent`	$1.00M	USD	Point-in-time
Revenue share liability	`DeferredRevenueNoncurrent`	$1.00M	USD	Point-in-time
Other long term liability	`OtherLongTermDebtNoncurrent`	$50.08K	USD	Point-in-time
Other long term liability	`OtherLongTermDebtNoncurrent`	$49.08K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$17.60M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$15.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$36.04M	USD	Point-in-time
Preferred stock Series B, $.0001 par value, 50,000,000 shares authorized: 782,004 and 782,004 issued and outstanding at March 31, 2016 and December 31, 2015	`PreferredStockValue`	$78.00	USD	Point-in-time
Preferred stock Series B, $.0001 par value, 50,000,000 shares authorized: 782,004 and 782,004 issued and outstanding at March 31, 2016 and December 31, 2015	`PreferredStockValue`	$78.00	USD	Point-in-time
Common stock, $.0001 par value; 200,000,000 shares authorized; 14,967,141 and 14,867,141 at March 31, 2016 and December 31, 2015	`CommonStockValue`	$1.50K	USD	Point-in-time
Common stock, $.0001 par value; 200,000,000 shares authorized; 14,967,141 and 14,867,141 at March 31, 2016 and December 31, 2015	`CommonStockValue`	$1.49K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.77M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.22M	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.02M	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-33.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-29.28M	USD	Point-in-time
Total Marathon Patent Group stockholders' equity	`StockholdersEquity`	$12.68M	USD	Point-in-time
Total Marathon Patent Group stockholders' equity	`StockholdersEquity`	$9.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$47.23M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$45.62M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.09M	USD	1 Quarter
Revenues	`Revenues`	$2.06M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$2.64M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$4.33M	USD	1 Quarter
Amortization of patents and website	`DepreciationAndAmortization`	$2.60M	USD	1 Quarter
Amortization of patents and website	`DepreciationAndAmortization`	$2.03M	USD	1 Quarter
Compensation and related taxes	`LaborAndRelatedExpense`	$1.03M	USD	1 Quarter
Compensation and related taxes	`LaborAndRelatedExpense`	$1.58M	USD	1 Quarter
Consulting fees	`ProfessionalAndContractServicesExpense`	$896.54K	USD	1 Quarter
Consulting fees	`ProfessionalAndContractServicesExpense`	$280.78K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$769.62K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$405.49K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$217.01K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$219.48K	USD	1 Quarter
Patent Impairment	`AssetImpairmentCharges`	$373.19K	USD	1 Quarter
Patent Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$6.98M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$10.39M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.30M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.92M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-39.40K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-2.16K	USD	1 Quarter
Foreign exchange gain (loss)	`EffectOfExchangeRateOnCash`	$-6.98K	USD	1 Quarter
Change in fair value adjustment of Clouding IP earn out	`GainOnFairValueAdjustmentOfCloudingEarnout`	$-1.34K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$931.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00	USD	1 Quarter
Interest expense	`InterestExpense`	$1.01M	USD	1 Quarter
Interest expense	`InterestExpense`	$931.54K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-970.94K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-1.00M	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.27M	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.92M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-2.49M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-2.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.78M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.89M	USD	1 Quarter
Loss per common share, basic and diluted:	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.26	USD	1 Quarter
Loss per common share, basic and diluted:	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.34	USD	1 Quarter
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.97M	shares	1 Quarter
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.87M	shares	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-950.24K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$247.43K	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.78M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.89M	USD	1 Quarter
Depreciation	`Depreciation`	$1.87K	USD	1 Quarter
Depreciation	`Depreciation`	$1.65K	USD	1 Quarter
Amortization of patents and website	`AmortizationOfIntangibleAssets`	$2.60M	USD	1 Quarter
Amortization of patents and website	`AmortizationOfIntangibleAssets`	$2.03M	USD	1 Quarter
Deferred tax asset	`IncreaseDecreaseInDeferredTaxAssets`	$2.34M	USD	1 Quarter
Deferred tax asset	`IncreaseDecreaseInDeferredTaxAssets`	$1.93M	USD	1 Quarter
Deferred tax liability	`IncreaseDecreaseInDeferredTaxLiabilities`	$-76.46K	USD	1 Quarter
Deferred tax liability	`IncreaseDecreaseInDeferredTaxLiabilities`	$-161.98K	USD	1 Quarter
Impairment of intangible assets	`GoodwillAndIntangibleAssetImpairment`	$373.19K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$685.75K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$550.44K	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$750.33K	USD	1 Quarter
Non-cash interest, discount, and financing costs	`NoncashCommissionAndClosingCosts`	$605.69K	USD	1 Quarter
Non-cash interest, discount, and financing costs	`NoncashCommissionAndClosingCosts`	$613.72K	USD	1 Quarter
Change in fair value of Clouding earnout	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$1.34K	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-83.15K	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$33.61K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$546.10K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$15.28K	USD	1 Quarter
Bonds posted with courts	`IncreaseDecreaseInOtherCurrentAssets`	$-359.96K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-192.35K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-26.25K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-2.07K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.92M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.95M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.15M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$113.17K	USD	1 Quarter
Purchase of property, equipment and other intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.10K	USD	1 Quarter
Purchase of property, equipment and other intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.15K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-37.15K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.10K	USD	1 Quarter
Payment on convertible debt	`RepaymentsOfConvertibleDebt`	$5.05M	USD	1 Quarter
Cash received upon issuance of note payable, net of $400,000 loan fee	`ProceedsFromConvertibleDebt`	$5.55M	USD	Point-in-time
Cash received upon issuance of note payable, net of $400,000 loan fee	`ProceedsFromConvertibleDebt`	$19.60M	USD	1 Quarter
Cash received upon exercise of warrant	`ProceedsFromWarrantExercises`	$18.75K	USD	1 Quarter
Payments of notes payable to vendors	`PaymentsOfNotesPayableToVendors`	$-63.84K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.57M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.25M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.61K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$8.85K	USD	1 Quarter
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$4.40M	USD	1 Quarter
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-1.13M	USD	1 Quarter
Cash at beginning of period	`Cash`	$1.42M	USD	Point-in-time
Cash at beginning of period	`Cash`	$9.48M	USD	Point-in-time
Cash at beginning of period	`Cash`	$2.56M	USD	Point-in-time
Cash at beginning of period	`Cash`	$5.08M	USD	Point-in-time
Cash at end of period	`Cash`	$1.42M	USD	Point-in-time
Cash at end of period	`Cash`	$9.48M	USD	Point-in-time
Cash at end of period	`Cash`	$2.56M	USD	Point-in-time
Cash at end of period	`Cash`	$5.08M	USD	Point-in-time
Cash paid for: Interest expense	`InterestPaid`	$401.16K	USD	1 Quarter
Cash paid for: Interest expense	`InterestPaid`	$317.82K	USD	1 Quarter
Cash paid for: Taxes paid	`IncomeTaxesPaidNet`	$8.00K	USD	1 Quarter
Cash paid for: Taxes paid	`IncomeTaxesPaidNet`	$8.26K	USD	1 Quarter
Cash paid for: Loan fees	`LoanFeesPaid`	$400.00K	USD	1 Quarter
Cash invested in 3D Nano	`NoncashTransactionsInvestmentsInSubsidiaries`	$115.00K	USD	1 Quarter
Common stock issued in conjunction with note payable	`CommonStockIssuedInConjunctionWithNotesPayable`	$1.00M	USD	1 Quarter
Warrant issued in conjunction with note payable	`WarrantsIssuedInConjunctionWithNotesPayable`	$318.68K	USD	1 Quarter
Revenue share liability incurred in conjunction with note payable	`RevenueShareLiabilityIncurredInConjunctionWithNotesPayable`	$1.00M	USD	1 Quarter
Convertible debt warrant repricing	`ConvertibleDebtWarrantRepricing`	$6.42K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.