Marathon Patent Group Regains Compliance with NASDAQ Listing Requirements
August 21 2020 - 11:58AM
Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or
"Company"), one of the few NASDAQ listed cryptocurrency mining
companies in the United States, today announced that it received
formal notification from The NASDAQ Stock Market LLC
("NASDAQ") that the Company has regained compliance with Listing
Rule 5550(a)(2), which requires the Company's common stock to
maintain a minimum bid price of $1.00 per share. The NASDAQ
staff made this determination of compliance after the closing bid
price of the Company's common stock was at $1.00 per share or
greater for the last 20 consecutive business days.
NASDAQ had previously notified the Company of its
non-compliance with Listing Rule 5550(a)(2) on April 6, 2020,
following 30 consecutive business days for which the closing bid
price of the Company's common stock did not meet the $1.00 per
share minimum requirement.
Investor Notice
Investing in our securities involves a high degree of risk.
Before making an investment decision, you should carefully consider
the risks, uncertainties and forward-looking statements described
under "Risk Factors" in Item 1A of our most recent Annual Report on
Form 10-K for the fiscal year ended December 31, 2017. If any of
these risks were to occur, our business, financial condition or
results of operations would likely suffer. In that event, the value
of our securities could decline, and you could lose part or all of
your investment. The risks and uncertainties we describe are not
the only ones facing us. Additional risks not presently known to us
or that we currently deem immaterial may also impair our business
operations. In addition, our past financial performance may not be
a reliable indicator of future performance, and historical trends
should not be used to anticipate results in the future. See "Safe
Harbor" below.
Future changes in network-wide mining difficulty rate or Bitcoin
hashrate may also materially affect the future performance of
Marathon's production of Bitcoin.
Forward-Looking Statements
Statements made in this press release include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934. Forward-looking statements can be identified by the use of
words such as “may,” “will,” “plan,” “should,” “expect,”
“anticipate,” “estimate,” “continue,” or comparable terminology.
Such forward-looking statements are inherently subject to certain
risks, trends and uncertainties, many of which the Company cannot
predict with accuracy and some of which the Company might not even
anticipate, and involve factors that may cause actual results to
differ materially from those projected or suggested. Readers are
cautioned not to place undue reliance on these forward-looking
statements and are advised to consider the factors listed above
together with the additional factors under the heading “Risk
Factors” in the Company's Annual Reports on Form 10-K, as may be
supplemented or amended by the Company's Quarterly Reports on Form
10-Q. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events, new information or otherwise.
CONTACT INFORMATION
Name: Jason Assad Phone: 678-570-6791 Email:
Jason@marathonpg.com
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