<SEC-DOCUMENT>0001415889-14-003052.txt : 20141016
<SEC-HEADER>0001415889-14-003052.hdr.sgml : 20141016
<ACCEPTANCE-DATETIME>20141010173346
ACCESSION NUMBER:		0001415889-14-003052
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20141010
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141014
DATE AS OF CHANGE:		20141010

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Marathon Patent Group, Inc.
		CENTRAL INDEX KEY:			0001507605
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				010949984
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36555
		FILM NUMBER:		141153182

	BUSINESS ADDRESS:	
		STREET 1:		11100 SANTA MONICA BLVD., STE. 380
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025
		BUSINESS PHONE:		(800) 804-1690

	MAIL ADDRESS:	
		STREET 1:		11100 SANTA MONICA BLVD., STE. 380
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	American Strategic Minerals Corp
		DATE OF NAME CHANGE:	20111213

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VERVE VENTURES INC
		DATE OF NAME CHANGE:	20101210
</SEC-HEADER>
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<TYPE>8-K
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported): October 10, 2014</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;<a name="FIS_UNIDENTIFIED_TABLE"><!--EFPlaceholder--></a></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Harvey J. Kesner, Esq.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">61 Broadway, 32nd Floor</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">New York, New York 10006</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 1.01&#160; Entry into a Material Definitive Agreement.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 2.01&#160; Completion of Acquisition or Disposition of Assets.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On October 10, 2014, Marathon Patent Group, Inc. (the &#8220;Company&#8221;) entered into an interest sale agreement (the &#8220;Interest Sale Agreement&#8221;) with MedTech Development, LLC (&#8220;MedTech&#8221;) and MedTech Group Acquisition Corp., (&#8220;NewCo&#8221;), a wholly-owned subsidiary of the Company.&#160;&#160;Pursuant to the Interest Sale Agreement, NewCo agreed to acquire from MedTech certain subsidiaries of MedTech (the &#8220;Acquisition&#8221;) consisting of 100% of the limited liability membership interests of OrthoPhoenix, LLC (&#8220;Orthophoenix&#8221;) and TLIF, LLC (&#8220;TLIF&#8221;) as well as 100% of the shares of MedTech Development Deutschland GmbH (&#8220;MedTech GmbH,&#8221; and together with Orthophoenix and MedTech GmbH, the &#8220;Subsidiaries&#8221;).&#160;&#160;As a result, NewCo became the sole interest holder of Orthophoenix and TLIF as well as the sole shareholder and owner of MedTech GmbH.&#160;&#160;Each of the Subsidiaries owns certain medical technology patents, including pending litigation, settlement and licensing rights that are being acquired by the Company in the transaction.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In connection with the Interest Sale Agreement, the Company is obligated to pay to MedTech $1 million at closing and $1 million on each of the following nine (9) month anniversary dates of the closing (the &#8220;Purchase Payments&#8221;).&#160;&#160;The Subsidiaries are also obligated to make certain additional payments (&#8220;Participation Payments&#8221;) to MedTech from recoveries following the receipt by the Subsidiaries of 200% of the Purchase Payments, plus recovery of out of pocket expenses in connection with patent claims.&#160;&#160;The Participation Payments may be paid, at the election of Marathon, in common stock of Marathon at the market price on the date of issuance.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In connection with the transaction, the Company entered into a promissory note, common interest agreement and in the event of issuance of common stock to MedTech, will enter into a lockup and registration rights agreement.&#160;&#160;Approximately forty-five (45%) of MedTech is owned or controlled by Erich Spangenberg or family members or associates.</font></div>

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<div><font style="FONT-WEIGHT: bold">Item 2.03&#160; Creation </font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: bold">of</font> a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</font><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In connection with the Acquisition, the Company also issued to MedTech a promissory note in the principal amount of $9 million (the &#8220;Note&#8221;), which matures July 2015.&#160;&#160;Pursuant to the terms of the Note, the Company may prepay the Note at any time, in whole or in part, without penalty or premium.&#160;&#160;In the event that the Company raises an aggregate amount of debt or equity financing at or in excess of $15 million (the &#8220;Company Financing&#8221;) after closing and prior to payment of the Note in full, the Company will prepay the remaining balance of the Note within two (2) business days of the consummation of such Company Financing.&#160;&#160;The Note also requires prepayment from net proceeds from licensing fees and recoveries under patent claims asserted by the Subsidiaries. The Note does not bear interest however upon the occurrence of an event of default, as set forth in the Interest Sale Agreement, the entire unpaid and outstanding indebtedness due under the Note shall bear additional interest at the lower of (i) twenty-two percent (22%) per annum and (ii) the maximum rate which is allowed by applicable Texas law for corporate business borrowers shall be immediately due and payable without notice.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The foregoing description of the Note does not purport to be complete and is qualified in its entirety by reference to the complete text and the underlying Note, which will be filed as an exhibit to the annual report on Form 10-K for the period ending December 31, 2014.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-WEIGHT: bold">Item 9.01&#160; Financial Statements and Exhibits.</font></div>

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<div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-STYLE: italic; DISPLAY: inline">Financial Statements of Businesses Acquired</font>.&#160;&#160;In accordance with Item 9.01(a), (i) the Subsidiaries&#8217; audited financial statements for the fiscal years ended December 31, 2012 and 2013 and (ii) the Subsidiaries&#8217; unaudited financial statements for the quarters ended September 30, 2014 and 2013 will be filed by amendment to this Current Report on Form 8-K as Exhibit 99.1 and Exhibit 99.2, respectively.</font></div>

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