Marathon Patent Group Releases Letter to Shareholders
ALEXANDRIA, VA--(Marketwired - Apr 25, 2013) - Marathon Patent Group, Inc. (
Dear Fellow Shareholder,
I wanted to take this opportunity to share with you the progress Marathon has made since our new business strategy was adopted in mid-November 2012.
As many of you know, the Company has been transformed into an intellectual property company, in which revenues will be generated from our two divisions: IP Licensing & Enforcement and IP Services. We have hired executives with experience in intellectual property as well as added two new independent board members with strong credentials in the intellectual property industry. In our transformation process, we have substantially unwound our real estate assets and are seeking to dispose of our remaining uranium exploration assets.
The Company has changed its name to Marathon Patent Group from American Strategic Minerals. The corporate name change was undertaken to align our new business strategy as an intellectual property ("IP") company. Marathon serves patent holders of all types and sizes, including individual inventors, small and medium-size businesses, universities and Fortune 500 corporations. Marathon's IP Services Division devises strategies that allow its clients to maximize the value of their IP assets. In addition to generating revenues through IP consulting engagements, Marathon's IP Licensing & Enforcement Division partners with patent owners to monetize their patent portfolios through IP licensing campaigns and enforcement activities.
Marathon's objective is to provide a focused and comprehensive set of IP services -- the entire innovation life-cycle -- that range from analysis of existing IP assets, new idea creation, application and patent development, prosecution, commercialization, licensing and enforcement. Marathon currently offers such services as proprietary analytics, IP valuation methods, partnering opportunities, infringement tracking, patent analysis, strategies, tactics, enforcement and reporting.
In recent months, the Company is pleased to have accomplished the following objectives:
- Acquired CyberFone Systems and its patent portfolio which has generated 32 settlement and license agreements for a total of $15.5 million in revenue
- Acquired US Patent 5,331,637 from MOSAID Technologies, one of the world's leading intellectual property management companies
- Entered into a strategic relationship with IP Navigation (IPNav), the leader in full-service patent monetization
- Completed the acquisition of Sampo IP LLC acquiring its patent portfolio consisting of three patents and one pending patent application
- Commenced our first licensing campaign on March 20, 2013 by filing a patent infringement lawsuit in the United States District Court for the Eastern District of Texas against Sony Computer Entertainment America LLC, Siemens Energy, Inc., CB Apex Realtors, d/b/a Coldwell Banker Apex Realtors, Blue Cross and Blue Shield Association, Juniper Networks, Inc., Winn Dixie Stores, Inc., and Dell, Inc.
- Established a new IP Research and Services Center at the University of Arizona Science & Technology Park in Tucson, Arizona
- Hired Nathaniel Bradley, an accomplished inventor and IP strategist, as CTO and President of IP Services
- Hired James Crawford as Chief Operating Officer
- Hired Douglas Bender as Vice President of Engineering
- Appointed both Craig Nard and Will Rosellini as independent directors to the Company's Board of Directors
We believe that Marathon is differentiated from other IP-related companies by its highly experienced management team possessing combined knowledge across a wide array of industries and disciplines, sustainable sources of high-quality IP licensing and enforcement opportunities, the ability to diversify its patent asset and portfolio base to include under-serviced patent holders, and long-term relationships in the IP marketplace including its strong relationship with IP Navigation Group.
Although Marathon has moved quickly in the execution of its business plan, I am reminded of a famous quote from Thomas Edison, "Vision without execution is a hallucination."
I appreciate your support as we continue to focus on building long-term sustainable shareholder value.
Kind regards,
Douglas Croxall
Chief Executive Officer
About Marathon Patent Group
Marathon Patent Group, Inc. ("Marathon") is an intellectual property services and monetization company that serves a wide range of patent holders and technologies from Fortune 500 to independent inventors. Marathon provides clients advice and services that enable them to realize financial and strategic return on their IP rights. Marathon serves clients through two complementary business units: the IP Research & Services Center, which helps to identify and manage patents, and the IP Licensing and Enforcement Group, which acquires IP assets, partners with patent holders, and monetizes patent portfolios through actively managed patent licensing campaigns. Marathon is based in Alexandria, Virginia. www.marathonpg.com
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Released April 25, 2013