Marathon Patent Group Appoints Former Las Vegas Monorail Executive Simeon Salzman as its Chief Financial Officer
October 20 2020 - 9:00AM
Marathon Patent Group, Inc. (NASDAQ:
MARA)
("Marathon" or "Company"), one of the largest Bitcoin Mining
companies in North America, today announced the appointment of
Simeon Salzman to the position of Chief Financial Officer. Simeon
will report to Chairman and CEO, Merrick Okamoto, while overseeing
all financial activities, including audits, acquisitions, finance,
and tax and accounting. Simeon succeeds former CFO, David
Lieberman, who had worked closely with Okamoto for 18 years. Mr.
Lieberman will continue to serve on the Company’s Board of
Directors.
“Marathon Patent Group is at the forefront of a
dramatic transformation of the Bitcoin ecosystem,” said Simeon
Salzman, CFO for Marathon Patent Group. “I am excited to join the
company as they begin the build out and rapid deployment of miners
at their new data center. I look forward to helping the company
build upon the strong foundation Merrick and his team have created
with a goal of capitalizing on the exponential growth taking place
in digital asset mining in North America.”
Prior to joining Marathon, Mr. Salzman served as
the Chief Financial Officer and Senior Vice President of the Las
Vegas Monorail Company, a private non-profit 501c(4) entity, from
2018-2020. There, he was responsible for overseeing all
financial functions including audit, treasury, and corporate
finance. In addition, he was responsible for internal control
compliance and management strategy.
Prior to being CFO of the Las Vegas Monorail
Company, Mr. Salzman served as the Chief Financial Officer for
Wendoh Media and Corner Bar Management for over three years, from
2015-2018. Through enhanced analytical reviews, budgeting,
internal control implementation and reducing overhead, Mr. Salzman
was able to save over $1.4 million in aggregate costs and generate
EBITDA of over 25% for eight consecutive quarters.
Mr. Salzman holds a Bachelor of Science in
Accounting and a Bachelor of Arts in Criminal Justice and
Criminology from the University of Maryland, College Park. He
is a Certified Public Accountant.
Marathon Chairman and CEO, Merrick Okamoto also
stated, “While we are excited to welcome Sim to our team, I want to
personally thank David Lieberman for the foundational work he has
led during his tenure at the Company. We wish him well as he enters
the next chapter of his life in retirement.”
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, 2019. 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. Future changes in the
network-wide mining difficulty rate or Bitcoin hashrate may also
materially affect the future performance of Marathon's production
of Bitcoin. See "Safe Harbor" below.
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.
About Marathon Patent Group
Marathon is a digital asset technology company
that mines cryptocurrencies, with a focus on the blockchain
ecosystem and the generation of digital assets.
Marathon Patent
Group Company Contact:
Jason AssadTelephone:
678-570-6791Email: Jason@marathonpg.com
Marathon Patent Group Investor
Contact:
Gateway Investor RelationsMatt Glover and Charlie
SchumacherTelephone:
949-574-3860Email: MARA@gatewayir.com
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