Current Report Filing (8-k)
November 15 2017 - 11:41AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): November 15, 2017
MARATHON
PATENT GROUP, INC.
(Exact
Name of Registrant as Specified in Charter)
Nevada
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001-36555
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01-0949984
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification No.)
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11100
Santa Monica Blvd., Ste. 380
Los Angeles, CA
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90025
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (800) 804-1690
(Former
name or former address, if changed since last report)
Copies
to:
Harvey
J. Kesner, Esq.
1185
Avenue of the Americas, 37th Floor
New
York, New York 10036
Telephone:
(212) 930-9700
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
ITEM
3.01
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Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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As
previously reported in the Current Report on Form 8-K filed by Marathon Patent Group, Inc. (the “Company”) on May
18, 2017, the Company received a written notification (the “De-Listing Notice”) from The Nasdaq Capital Market (“Nasdaq”)
on May 17, 2017 indicating that the Company was not in compliance with the minimum bid price requirement set forth in Nasdaq Listing
Rules (the “Rules”) for continued listing on Nasdaq. However, the De-Listing Notice indicated that, pursuant to the
Rules, the Company can regain compliance if, at any time during a compliance period of 180 calendar days, the closing bid price
of the Company’s security is at least $1.00 for a minimum of ten consecutive business days.
On
October 30, 2017, the Company effectuated a reverse stock split of its issued and outstanding shares of common stock (“Common
Stock”) at a ratio of 1 for 4 (the “Reverse Stock Split”). As a result of the Reverse Stock Split, the Company’s
issued and outstanding Common Stock decreased from approximately 32.4 million shares of Common Stock to approximately 8.1 million
shares of Common Stock, all with a par value of $0.0001.
On
November 13, 2017, the Company received a written notification (the “Compliance Notice”) from Nasdaq indicating that
the Staff has determined that for the last ten consecutive business days, from October 30 to November 10, 2017, the closing bid
price of the Company’s Common Stock has been at $1.00 per share or greater. Accordingly, the Compliance Notice indicates
that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and that the matter is now closed.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Date:
November 15, 2017
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MARATHON
PATENT GROUP, INC.
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By:
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/s/
Francis Knuettel II
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Name:
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Francis
Knuettel II
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Title:
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Chief
Financial Officer
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