Las Vegas, NV -- (SBWIRE) -- 08/20/2013 -- Marathon Patent Group Inc (OTCBB:MARAD) announced its financial results for the second quarter of 2013 that ended on 30th June.
Marathon Patent Group Inc reported gross revenue of $1,524,979, as a result of three patent licensing and settlement agreements in the financial results. The quarter that ended 30th June, 2013 is the first quarter in which the company has reported significant licensing and settlement revenue. Gross profit margin for the company was approximately 50% during the quarter. Marathon Patent Group Inc reported cash and cash equivalents of approximately $6.4 million.
Founder & CEO of Marathon Patent Group, Doug Croxall stated that second quarter of 2013 was company’s first full quarter of patent enforcement activity. The company launched their first patent licensing campaign in March 2013 and they are pleased to have already generated over $1.5 million in settlements. During the second quarter, the company launched two new licensing campaigns, Sampo and Relay IP. He said that licensing campaigns have produced revenue in the form of settlement and license agreements since the start of the third quarter. The speed in which the company has begun to monetize their patents speaks directly to both the quality of patents and their effectiveness of enforcement.
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