MARATHON PATENT GROUP, INC. (NASDAQ:MARA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM 3.01 Notification of Failure to Satisfy a Continued Listing Rule or Standard – Remediated
On May 17, 2019, Nasdaq notified the Company by letter that it did not comply with the minimum $2.5 million stockholders’ equity, or $35 million market value of listed securities, or $500,000 of net income from continuing operations requirements for The Nasdaq Capital Market set forth in Listing Rules 5550(b)(1), or 5550(b)(2), or 5550(b)(3) (the “Rules”), respectively. On November 8, 2019, the Company filed its Form 10-Q for the period ended September 30, 2019, which evidenced stockholders’ equity of $3,489,345. The Company filed an 8-K on November 12, 2019 stating the newly compliant stockholders’ equity, and on November 13, 2019, the Company received a letter from Nasdaq that its Staff has determined that the Company complies with the Rules, and the matter is now deemed closed.
ITEM 9.01 Exhibits
EXHIBIT 99.1 Letter from Nasdaq dated November 13, 2019 acknowledging compliance with Nasdaq Rules.
Marathon Patent Group, Inc. Exhibit
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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.