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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Marathon Acquisition Corp | AMEX:MAQ.U | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
NEW YORK, NY (the "Company") announced today results for the year from January 1, 2007 through December 31, 2007. Attached below are the financial highlights for the year from January 1, 2007 through December 31, 2007, which were included in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, as previously filed with the Securities and Exchange Commission.
Income Statement Data
For the Year January 1, 2007 through December 31, 2007 -------------- Loss from operations $ (1,183,948) Interest income $ 14,875,339 -------------- Income before provision for income taxes $ 13,691,391 Provision for income taxes $ 7,008,594 -------------- Net income $ 6,682,797 ============== Weighted average number of shares of common stock outstanding -- basic 41,407,684 Weighted average number of shares of common stock outstanding -- diluted 52,374,624 ============== Net income per share -- basic $ 0.13 Net income per share -- diluted $ 0.10 ==============
Balance Sheet Data
December 31, 2007 ------------- Cash and cash equivalents $ 2,671,034 Investments held in trust account $ 314,130,809 Trust account interest receivable $ 999,199 Prepaid expenses $ 39,935 Prepaid income taxes $ 458,139 ------------- Total assets $ 318,299,116 ============= Total liabilities $ 6,616,181 Common stock subject to redemption $ 61,795,116 Interest attributable to common stock subject to possible conversion $ 1,402,720 Total stockholders' equity $ 248,485,099 ------------- Total liabilities and stockholders' equity $ 318,299,116 =============
About Marathon Acquisition Corp.
Marathon Acquisition Corp. is headquartered in New York City. The principle investor contact for the Company is its founder, Chairman and Chief Executive Officer, Michael Gross (telephone: (212) 993-1670).
Forward-Looking Statements
This press release may contain certain forward-looking statements including statements with regard to the future performance of the Company. Words such as "believes," "expects," "projects," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties that are detailed in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Michael Gross Marathon Acquisition Corp. (212) 993-1670
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