Orbsat Corporation (OSAT)

[Traderfan]

Wow, quite a reaction to the earnings today. I bought a small starter but the way this trades it looks like it's going lower for now. What's your take on the below part of the PR today? Sounds like good news to me but then again the market doesn't agree. That said I haven't followed the company before and don't know the overall story and details.


On May 17, 2016, Orbital Tracking Corp. entered into exchange agreements with holders of the Company's outstanding $504,168 convertible notes in exchange for newly designated Preferred Series G Stock. This transaction eliminated all outstanding long-term debt of the Company, significantly improving both its balance sheet and cash flows