Marathon Digital Holdings Inc (MARA)

[msl2008]

Why do you think we are combining their 37m in revs with our 20 for a total of 57m?

Slide 3 says "$37.5 million pro forma combined licensing revenue generated over trailing twelve months of operations (unaudited)"

This means that the combined entity did 37.5m in the trailing 12 months.

If they start from the June 30 financials, then Marathon did 13.3, 1.5, 4.5, 1.5 off the top of my head (someone please check). That totals 20.8 which means Uniloc did 16.7.

So my first question would be why are we getting less? And why is there no covenant for if we win a big settlement ie TRW, Apple, Stryker prior to the merger?

Did you notice the 1.5m in cash as of 6/30? Did you notice that we delayed payment and issued 200k shares? MARA is in a cash crunch and would've had to dilute to continue their assault. The first 8 months of the year have NOT gone according to anyone's plan and i'm pretty sure NO ONE saw the first 8 months being this bad. With that being said, this is probably the best move they could've made given the current situation they are in.

Also, I still believe that the Bridgestone patents screwed us royally. Cost us 3.5 mil upfront and put us on the map for losing a high profile trial. If you subtract that out of the year, I think this merger either 1) does not happen or 2) MARA gets 55% of the combined entity. Plus our share price would probably be sitting in the $5-$6 range instead of $2-3.