Replies to post #2223 on Orbsat Corporation (OSAT)

[DukeNukem]

What's the TRKK float now for shitz and giggles?

[coastiretired]

And that 60 million doesn't include the 222 million commons represented in the outstanding preferred shares waiting to be converted to further dilute shareholder value according to today's S-1:

"all information in this prospectus is based on 60,332,314 shares of common stock issued and outstanding as of January 24, 2017, and:

-excludes 5,000 shares of our common stock issuable upon exercise of outstanding warrants at a weighted average exercise price of $4.50 per share as of January 24, 2017;

-excludes 12,850,000 shares of our common stock issuable upon exercise of outstanding options at a weighted average exercise price of $0.02 per share as of January 24, 2017.

-excludes 33,330 shares of our common stock issuable upon conversion of 6,666 shares of Series B Convertible Preferred Stock (the “Series B Preferred Stock”) as of January 24, 2017, not accounting for 9.99% beneficial ownership limitations;

-excludes 35,403,650 shares of our common stock issuable upon conversion of 3,540,365 shares of Series C Convertible Preferred Stock (the “Series C Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;

-excludes 66,679,680 shares of our common stock issuable upon conversion of 3,333,984 shares of Series D Convertible Preferred Stock (the “Series D Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;

-excludes 78,179,700 shares of our common stock issuable upon conversion of 7,817,970 shares of Series E Convertible Preferred Sto ck (the “Series E Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;

-excludes 1,099,998 shares of our common stock issuable upon conversion of 1,099,998 shares of Series F Convertible Preferred Stock (the “Series F Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;

-excludes 10,083,351 shares of our common stock issuable upon conversion of 10,083,351 shares of Series G Convertible Preferred Stock (the “Series G Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;

-excludes 8,750,000 shares of our common stock issuable upon conversion of 87,500 shares of Series H Convertible Preferred Stock (the “Series H Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations; and

-excludes 9,294,400 shares of our common stock issuable upon conversion of 92,944 shares of Series I Convertible Preferred Stock (the “Series I Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations."

[coastiretired]

That TA is also involved in several of the Honig/Brauser dilution schemes.

"A check in SEC filings shows that Kesner has been a control person at a stock transfer company named Equity Stock Transfer. His wife, Renee, is listed as the owner since April 1st 2014, according the company’s Form TA-1. (see updated response from Kesner’s attorney) Harvey is listed on the SEC form as providing working capital to the company from time to time and is listed as having control over management through ” CMBS Document Solutions LLC, Harvey Kesner, Manager; Paradox Capital Partners LLC, Harvey Kesner, Manager”. A partner in a law firm that has done transaction investing in microcap companies, who also had influence over management of a stock transfer company, which has done business with companies his big client, Barry Honig, invested in could be considered a conflict of interest."
http://www.teribuhl.com/2016/11/08/california-doj-investigating-honig-and-the-frost-group/

Besides having control of the TA, you might run across the name Kesner quite a few times in TRKK filings. I believe Harvey was involved in setting up the share structure of the Company with Honig and Brauser. His brother Glenn has also fulfilled many roles with TRKK:

"On January 21, 2014, the Company entered into a consulting agreement with Mr. Glenn Kesner pursuant to which Mr. Kesner agreed to provide administrative and management services to the Company for compensation of $7,500 per month and reimbursement for the cost of group family health insurance. Mr. Kesner is the President of Auracana LLC, at the time a majority shareholder of the Company. Mr. Kesner was also appointed as Secretary of the Company on January 21, 2014. On October 15, 2014, Mr. Kesner resigned as the Secretary of the Company. The Company entered into a separation agreement with Mr. Kesner pursuant to which, in exchange for a release of all claims against the Company, Mr. Kesner received a one-time severance payment of $5,000.

On January 21, 2014, the Company entered into a securities purchase agreement with Auracana LLC, which was a majority stockholder of the Company at that time and an entity owned by Glenn Kesner, pursuant to which it sold to Auracana LLC its inactive wholly owned subsidiaries H-Hybrid Technologies, Inc., a Florida corporation and RZ Acquisition Corp., a New York corporation. The Company sold the subsidiaries to Auracana LLC for a purchase price of $1.00. At the time of the sale, the inactive subsidiaries had no assets and liabilities."
https://www.sec.gov/Archives/edgar/data/1058307/000149315217000770/forms-1.htm