SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Del Mar Asset Management, LP (Last) (First) (Middle) ONE GRAND CENTRAL PLACE, 60 EAST 42ND STREET SUITE 450 (Street) NEW YORK NY 10165 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 02/13/2014	3. Issuer Name and Ticker or Trading Symbol Patent Properties, Inc. [ PPRO ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.001 par value (the "Common Stock")	2,028,900	D
Common Stock	333,333	I	See footnote(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants (Right to Buy)	09/18/2013	09/18/2016	Common Stock	166,667	$3	D
Warrants (Right to Buy)	09/18/2013	09/18/2016	Common Stock	166,667	$3	I	See footnote(1)

1. Name and Address of Reporting Person* Del Mar Asset Management, LP (Last) (First) (Middle) ONE GRAND CENTRAL PLACE, 60 EAST 42ND STREET SUITE 450 (Street) NEW YORK NY 10165 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* DEL MAR MASTER FUND, LTD. (Last) (First) (Middle) ONE GRAND CENTRAL PLACE, 60 EAST 42ND STREET SUITE 450 (Street) NEW YORK NY 10165 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* DEL MAR MANAGEMENT, LLC (Last) (First) (Middle) ONE GRAND CENTRAL PLACE, 60 EAST 42ND STREET SUITE 450 (Street) NEW YORK NY 10165 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* FREELOVE DAVID (Last) (First) (Middle) ONE GRAND CENTRAL PLACE, 60 EAST 42ND STREET SUITE 450 (Street) NEW YORK NY 10165 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Common Stock and Warrants held by RockMaple Concetrated Alphs Trust , a Cayman Islands exempt company ("RockMaple"). Mr. David Freelove has sole voting or investment control over RockMaple. Mr. David Freelove is also the managing member of Del Mar Management, LLC, a Delaware limited liability company (the "GP"). The GP is the general partner of Del Mar Asset Management, LP, a Delaware limited liability company ("DMAM"), and as such, directs DMAM's operations. DMAM serves as the investment manager of Del Mar Master Fund, Ltd., a Cayman Islands exempted company (the "Master Fund").

	/s/ Del Mar Asset Management, LP; By its general partner Del Mar Management, LLC.; By its managing member David Freelove	02/20/2014
	/s/ Del Mar Master Fund, Ltd.; By its investment manager Del Mar Asset Management, LP; By its general partner Del Mar Management, LLC.; By its managing member David Freelove	02/20/2014
	/s/ Del Mar Management LLC.; By its managing member David Freelove	02/20/2014
	/s/ David Freelove	02/20/2014
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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