UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. ) Multiband Corp. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 62544X100 -------------------------------------------------------------------------------- (CUSIP Number) January 5, 2007 -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |X| Rule 13d-1(b) |_| Rule 13d-1(c) |_| Rule 13d-1(d) CUSIP NO. -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Marathon Capital Management, LLC 212549109 -------------------------------------------------------------------------------- 2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Maryland -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 378,700 NUMBER OF -------------------------------------------------------------- SHARES 6 SHARED VOTING POWER BENFICIALLY OWNED BY na EACH -------------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 2,240,900 -------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER na -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENFICIALLY OWNED BY EACH REPORTING PERSON 2,240,900 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES |_| -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.3% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IA -------------------------------------------------------------------------------- Item 1. a) Name of Issuer: Multiband Corp. b) Address: 9449 Science Center Drive New Hope, MN 55428 Item 2. a) Name of Filer: Marathon Capital Management, LLC b) Address of Filer: 4 North Park Drive, Suite 106 Hunt Valley, MD 21030 c) Citizenship: Maryland d) Title of Class of Securities: Common Stock e) CUSIP Number: 693315103 Item 3. Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) |_| Broker or Dealer registered under Section 15 of the Act (b) |_| Bank as defined in section 3 (a) (6) of the Act (c) |_| Insurance Company as defined in section 3 (a) (6) of the Act (d) |_| Investment Company registered under section 8 of the Investment Company Act (e) |X| Investment Adviser registered under section 203 of the Investment Advisers act of 1940 (f) |_| Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see 240.13d-1 (b) (1) (ii) (F) (g) |_| Parent Holding Company, in accordance with 240.13d-1 (b) (ii) (G) (Note: See Item 7) (h) |_| Group, in accordance with 240.13d-1(b) (1) (ii) (H) Item 4. Ownership a) Amount beneficially owned: 2,240,900 b) Percent of Class: 6.3% c) Number of shares: (i) Sole voting power -- 378,700 (ii) Shared voting power -- na (iii) Sole disposal power -- 2,240,900 (iv) Shared disposal power - na Item 5. Less than 5% beneficial ownership If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Item 6. More than 5% on behalf of another na Item 7. Subsidiary na Item 8. If group na Item 9. Notice of Dissolution na Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date January 24, 2007 By: /s/, James G. Kennedy, President --------------------------------------- Name, Title