ORBITAL TRACKING CORP. (OTCBB:TRKK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
to David Phipps, its Chief Executive Officer and Chairman, the
option to purchase 10,000,000 shares of common stock of the
Company, par value $0.0001 per share. The option was issued
outside of the Companys 2014 Equity Incentive Plan (the Plan) and
is not governed by the Plan. The option has an exercise price of
$0.01 per share, vests immediately, and has a term of ten years
from the date of the grant. The Companys intent to issue the
options was disclosed in Exhibit No.10.1, the Form of
Subscription Agreement as filed on Form 8K, dated November 11,
2016. The foregoing description of the option is not complete and
is qualified in its entirety by reference to the full text of the
form of Option Agreement, a copy of which is filed as Exhibit
10.1 to this current report and incorporated by reference herein.
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10.1
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Form of Option Agreement |
About ORBITAL TRACKING CORP. (OTCBB:TRKK)
Orbital Tracking Corp., formerly Great West Resources, Inc., is a provider of satellite-based hardware, airtime, mapping and related services both in the United States and internationally. The Company sells equipment and airtime for use on all of the satellite networks, including Globalstar, Inmarsat, Iridium and Thuraya, and operates a short-term rental service for customers using its equipment for a limited time period. The Company, through Global Telesat Communications Limited, provides satellite based hardware, airtime and services through various e-commerce storefronts, as well as personal satellite tracking devices. The Company operates e-commerce Websites, which offer a range of portable satellite voice, data and tracking solutions, known as Mobile Satellite Services (MSS). The MSS products include handheld satellite phones, personal and asset tracking devices, portable high speed broadband terminals, satellite wireless fidelity hotspots and associated mapping services. ORBITAL TRACKING CORP. (OTCBB:TRKK) Recent Trading Information
ORBITAL TRACKING CORP. (OTCBB:TRKK) closed its last trading session up +0.0078 at 0.0538 with 1,788,021 shares trading hands.
