"The recapitalization of Orbital Tracking marks an exciting new beginning for the Company. Supported by a simplified capital structure without dilutive preferred shares and unfavorable convertible debt, and bolstered by significant capital from new investors, we now intend to accelerate the growth of the business transforming the Company into a leading provider of mobile satellite tracking, voice and data technology to consumers, enterprises and governments around the world," said David Phipps, Chief Executive Officer of Orbital Tracking."
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