Marathon Patent Group Announces Results of Annual Meeting of Stockholders
November 18 2019 - 04:45PM
Marathon Patent Group, Inc. (NASDAQ:
MARA)
("Marathon" or "Company"), today announced that on November 15,
2019, the Company held an annual meeting of stockholders (the
“Meeting”). As of the record date for the Meeting, 7,853,461
shares of common and preferred stock were issued and
outstanding. A total of 4,956,738 shares of common and
preferred stock, constituting a quorum, were present and accounted
for at the Meeting. At the Meeting, the Company’s stockholders
approved the following proposals:
(i) Approval of issuance of shares over 19.99%.
The share issuance was approved, and the votes were cast as
follows:
Votes For |
|
Votes Against |
|
Abstentions |
Broker Non-Vote |
1,804,876 |
|
34,329 |
|
4,825 |
3,112,708 |
(ii) The reelection of each of the Class II
following current directors of the Company, who were candidates for
reelection. The directors were reelected, and the votes were cast
as follows:
Name |
|
Votes For |
|
Votes Against |
|
Abstentions |
Broker Non-Vote |
Michael Berg |
|
1,769,235 |
|
- |
|
74,648 |
3,112,855 |
Michael Rudolph |
|
1,766,031 |
|
- |
|
77,852 |
3,112,855 |
(iii) The ratification of the appointment of
RBSM, LLP, as the Company’s independent registered certified public
accountant for the fiscal year ended December 31, 2019. The
appointment was ratified, and the votes were cast as follows:
Votes For |
|
Votes Against |
|
Abstentions |
4,736,421 |
|
84,758 |
|
135,412 |
Merrick Okamoto, Marathon Chief Executive Officer, stated, “With
the shareholder approval of the issuance of shares for the
acquisition, the Company is now able to consummate the balance of
the purchase of the previously disclosed acquisition of 6,000 S-9
Bitmain 13.5 TH/s Bitcoin Antminers. We would like to thank
our stockholders for their support in completing this
acquisition. When all 7,200 Miners are fully deployed, which we
anticipate will be completed before year end, the Company’s total
HashRate will increase from 14 PH/s prior to the acquisition to
approximately 98 PH/s.”
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, 2018. 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.
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.
Name: Jason Assad Phone: 678-570-6791 Email:
Jason@marathonpg.com
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