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Yanqui , I just posted that because I didn’t know what the difference was. Also I don’t know what market they were or are on. I think groups of traders just push the stock around to make money. I don’t actually see any value to The stock or the company.
Capital Market (small cap) is an equity market for companies that have relatively small levels of market capitalization. Listing requirements for such "small cap" companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.[21]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity requirements, and corporate governance standards. The Global Market is less exclusive than the Global Select Market
If you look at the 13G, it shows he sold 83% of the shares he had. So he is down to 5.93%. Also if you look at the list of previous transactions of other owners, most have sold all their stock or a majority of it. Not surprising..Yor headline is somewhat misleading.
Yes high-speed, no doubt this has become a strange stock and even stranger company.
I agree high-speed, but the chart set up for the last two weeks was very nice. A good base from $.25-$.27, and with all the bad and negative news it would not break down. So It may just be a straight chart play. Or it could just be manipulation to allow some holders a chance to get out.
Other Events.
On August 23, 2017, Marathon Patent Group, Inc. (the Company) because aware that a summons and complaint (collectively the Summons and Complaint and respectively the Summons or the Complaint) was filed by Jeffrey Feinberg (the Plaintiff) against certain officers and directors of the Company (the Individual Defendants) and the Company. The Summons and Complaint were filed with the Supreme Court of the State of California, County of Los Angeles on August 21, 2017.
Do Doug is gone! and took a lot of money with him
On August 22, 2017, the Company entered into a Retention Agreement with Doug Croxall, the Companys Chief Executive Officer and Chairman of the Board of Directors (the
Retention Agreement
), pursuant to which (a) the employment agreements between Mr. Croxall and the Company were terminated and of no further force and effect, and Mr. Croxall is no longer entitled to any payment relating to severance, change of control of the Company or termination pay from the Company, and (b) Mr. Croxall shall continue to serve as Chief Executive Officer and Chairman of the Board until such time as provided in the Retention Agreement, but in any event, no later than September 30, 2017.
In consideration for the foregoing, pursuant to the Retention Agreement, Mr. Croxall sh all receive from the Company (i) a retention payment in the aggregate amount of $500,000, (ii) a monthly consulting fee in the amount of $20,000 for a period of six (6) months commencing on October 1, 2017, (iii) 3,000,000 shares of restricted common stock of the Company, subject to shareholder approval of the Companys 2017 Equity Incentive Plan, (iv) all of the shares of common stock of 3d Nanocolor Corp., a Delaware corporation, held by the Company, and (v) medical and other insurance benefits through the end of September 2017. Additionally, under the terms of the Retention Agreement, the Company will reimburse Mr. Croxall for all expenses in accordance with the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, through December 31, 2018.
The approval of the issuance of 5% secured convertible promissory notes in the aggregate amount of $3,503,500 with warrants to purchase shares of the Company's common stock, and up to 82,500,000 shares of the Company's common stock issuable upon conversion of the aforementioned securities, pursuant to the private placement on August 14, 2017, as required by the agreements related to such private placement;
So did I read that right, they are getting 3 1/2 million dollars that converts into 82.5 million shares? Which looks to be about 4.25 cents a share. Pretty good deal for the buyers.
Yes it looks like Doug screwed over the wrong guy. Fineberg's probably a wealthy man and has resources to get some payback. Although it's possible marathon will be on the hook for Doug's legal fees.
Is that lawsuit considered a material event? Will they have to do a PR on it?
Agree EMI, almost comical that the share price is holding at a quarter plus. I can only guess the market sees a quarter as fair market value and hoping they can pull a rabbit out of the hat. The next thing will be the reverse split followed by selling more shares. It looks now like it's just a game to keep paying themselves salaries.
Agree Yanqui, A lot to digest in your comment. I would like to know the terms of the convertible debt. Like what is the interest on the debt? I would guess at least 15% or more. And is it immediately convertible and at what price. I would guess probably $.10-$.15 a share. So could they not just convert and dump shares at $.25, get their return & reduce their risk. Also the reverse split followed by selling more shares. Also the problem of looking for "strategic alternatives". So they want to become something other than an IP company? So what are a handful of IP lawyers qualified and experienced enough to become? Very puzzling and like you said a whole a lot of unknowns? Just my thoughts. But the share price and the share action does support your comments.
Yes jalase, i'm surprised the stock is still trading at 25 $.26. There is no there there. They borrow money to pay their big fat salaries, they gave away the three best portfolios which they couldn't get money out of anyway. Now they want to enter a new business but they don't know what it is. So their selling convertibles to give them 3 to 5,000,000 in cash to do what with. I would love to see the conversion price. Probably be like 10 or $.15 a share. Just seems like a giant Trainwreck.
Agree jalase, not a miss, pure lie & manipulation. And Lola, ask Jason how many shares he owned! But we know the answer to that. 0. So now IP is going to be a side job? While they search around for a new business? So maybe window coverings or antivirus or maybe a PR company? How about bitcoin mining? Lots of possibilities, wow, what an exciting time!
How so, Yanqui?
Well high-speed I think we all feel like fools. I bought shares when Doug said they were going to do 40 to 50,000,000 this year. I think it was 70 or $.80 at the time. I thought it was a great bargain. how can you lose when you're going to do 50 million! I was a little suspicious about the way he said it as I was listening in on the call. But I thought he can't lie about that! Well Yes he can and did. I ended up selling all my stock in the $.30 and $.40 range on that pump and dump. Coming off of the $.15 price I was glad to get it.
And Doug said Eric was working 12 to 14 hours a day! But never did any business, never brought in any money. He was working all right but it was starting another company. Now they're going to pay him $1000 an hour for doing what? Lol. That's a great job! Just amazing.
Also the part about Erich bailing out. So they're going to pay him $20,000 a month for 20 to 40 hours of work. Ha! Where the hell they going to get that money?
Yes flyers, a pretty ugly mess they got themselves into. although I'm not actually that surprised. It always seemed like the worst thing would happen. I can't believe people are still buying after hours at 24 and $.25. I would think it's worth about 10 or $.15
Wish I could help you Yanqui, but I don't really understand anything this company does anymore. If we have all the settlements as high-speed alluded to then this company should have tens of millions of dollars in the bank. Unless they settle for peanuts in which case they would be broke. So to me the stock should be trading at either $.10 or $1. Or maybe we should do what Drew said and just call Doug and ask him. He made it sound so easy. But they haven't had any revenue for a long time and no information about what the company is doing so it appears they're keeping everybody in the dark for a reason.
High-speed, if they have all these settlements where are the PR's? Also I thought Eric had a huge amount of shares so why did they not have enough votes?
So tomorrow is the moment of truth. Anybody have any good insight as to what's going to happen? I'm curious as to what the reverse split will be and if they have any revenue or not. Share price seems to be very cautious. Not a a Lotta confidence in the outcome.
Sorry EMi, I can't copy the article. It's a news release on TD Ameritrade news. Came out at 3:40 on market wire. Just said they were "urging" shareholders to vote and reminding them to vote it going into details about why you need to vote where to vote & how to vote. Kind of sounds like they don't have enough response yet. I'm guessing they'll do a 15 to 1 reverse split which will put them a little over five dollars with about 1.6 mil shares outstanding. Then they would need to sell about 5 million shares at $4 to raise 20 million to pay off fortress and have a few million left over.
Just saw an article out that they are begging people to vote for their agenda. Supposedly to be able to keep their Plan to keep Nasdaq listing. Make u wonder if they even have any revenue. No PR's no updates no nothing. So it looks like a reverse split followed by selling a bunch of shares. Not really a great deal for shareholders in my view.
Good observation Lonewolf, I agree
Well EMI that's a pretty funny answer! So Drew blames Doug for a $300,000 loss. Yet wants us to call Doug to get a straight answer and tell the truth. Ha! The same Doug that has missed led & miss spoke at every cc for the last year. So now we are supposed to call him to get the truth! Lol. Oh the irony! No thanks, you can believe what you want, I don't actually really care.
Well what would your good reason to be?
Yes but he was saying what we all were saying. Just reinforcing our negativity with the massive decline in the stock. I don't think he ever had any shares, I think it was all BS. He said he had stock for three years but yet never posted here once until three months ago. Very strange.
Hey high-speed and Mike, The whole thing is really strange. I also have another conspiracy theory and that is that Drew was a plant. He posted here for three months slamming Doug MARA all the way down. And then at $.15 he says he's sold everything and lost $290,000. Almost like trying to get others to bail out also and throw in the towel. Right before the stock exploded. A coincidence I think not.
That's what I call a short squeeze! Selling.
Yeah I agree that was a worthless post.
Good video on that Clay thanks much!
Wow Red that's a lot of stock! So you had over 200 K shares? Yeah that's more than me. I try to limit any stock as just a percentage of my account. Especially when you're dealing with small-cap stocks. Maybe 10 to 20%. Hopefully This can go to 40 $.50. You could see today the shorts were just scrambling to cover.
I hear you EMI. Hopefully we get another big bump tomorrow and squeeze the crap out of those shorts! I sold a few shares at $.32 of the ones I bought this morning. Good day overall. Kind a like I was saying the other day the stock should be worth $.25-$.50 without all the damn shorts in there.
Will Red you got twice as much is you had yesterday! What a great move today though we needed that! So it's probably short covering or news or both. Haven't seen any news yet but it could be out there. Either way I'm happy!
Hey I was just thinking I wonder how Drew feels today! Since he dumped all the stock yesterday.
Lol. Good one Mike. Will still it's a hell of a lot better than 12 1/2 -13. I was actually buying today between 14 1/2 and 15 just because of the volume
Dang almost 3,000,000 shares jumping like crazy. Everybody feel better today?
One other thing I find puzzling and interesting is the massive amount of volume that's in the StockTwits lately. This is a StockTwits that used to trade about 50,000 shares of day and would move around quite easily. Now it's trading 1 million shares a day and can't get out of its own way. So I wonder where this volume is coming from who are all these sellers. Who has that much stock? I suspect it's naked Shorts.