MARATHON PATENT GROUP, INC. (NASDAQ:MARA) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On September 30, 2019, the Company consummated the purchase of 6,000 S-9 Bitmain 13.5 TH/s Bitcoin Antminers from SelectGreen Blockchain Ltd, a British Columbia corporation, for which the purchase price was 2,335,000 shares of its common stock at a price of $1.75 per share. As a result of an exchange cap requirement imposed in conjunction with the Company’s Listing of Additional Shares application filed with Nasdaq with regard to the transaction, the Company was deemed to have issued 1,270,696 shares of its common stock (constituting 19.99% of the issued and outstanding shares outstanding on the date of the Asset Purchase Agreement for the transaction) and upon receipt of shareholder approval, the Company will issue the balance of the 2,335,000 unregistered common stock shares. All shares are being issued in transactions exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended.
Item 3.02 Sale of Unregistered Securities
See Item 1.01 above.
About MARATHON PATENT GROUP, INC. (NASDAQ:MARA)
Marathon Patent Group Inc. (MARA) is engaged in acquiring patents and patent rights from owners or other ventures. The Company monetizes its portfolio of patents and patent rights by entering into license discussions. The Company owns around 378 United States and foreign patents, and patent rights across a range of technologies and markets. The Company owns around 22 patent applications across a range of technologies and markets.