UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS:Patent Purchase Agreement • November 12th, 2014 • Marathon Patent Group, Inc. • Patent owners & lessors
On August 29, 2014, the Company entered into a patent purchase agreement (the “Clouding Agreement”) between Clouding Corp., a Delaware corporation and a wholly owned subsidiary of the Company (“Clouding” of the “Company”) and Clouding IP, LLC, a Delaware limited liability company (“Clouding IP” or “Seller”), pursuant to which Clouding acquired a portfolio of 70 patents (“Clouding IP Assets”) from Clouding IP. Clouding owns patents related to network and data management technology.
