ORBSAT CORP: management transactions · United States · SEC (Form 4)

About ORBSAT CORP

Orbsat Corp, now part of NextPlat Corp, is a United States-listed company whose securities trade on the NASDAQ market; historically, the stock traded under the symbol OSAT on the Nasdaq Capital Market. The company traces its origins back to 1997, when it was originally incorporated in Florida, before later corporate reorganizations and a change of name. Its headquarters and principal executive offices are in Hallandale Beach, Florida, United States. According to SEC filings, the business was built around global communications and distribution solutions, with a long-standing focus on satellite communications and cross-border e-commerce. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1058307/000143774926014201/nxpl20260429_ars.pdf)) Today, the company operates through two complementary business lines. Its e-commerce segment distributes satellite communications products and related services through proprietary websites and third-party marketplaces. These channels serve customers in more than 165 countries and include satellite phones, tracking devices, portable broadband terminals, satellite Wi‑Fi hotspots, accessories, and recurring airtime or connectivity plans. The healthcare segment operates pharmacy locations and healthcare technology platforms, with revenue streams tied to prescription fulfillment, 340B contract services, and data-enabled patient-care workflows. For fiscal 2025, the company disclosed that e-commerce represented about 27% of revenue, while healthcare accounted for about 73%. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001058307/000143774926010668/nxpl20251231_10k.htm)) From a competitive standpoint, Orbsat/NextPlat is positioned as a focused niche operator rather than a mass-market distributor. Its investment case is built around global reach, a multi-channel online sales model, and products that are relevant in remote or infrastructure-limited environments where terrestrial networks are weak or unavailable. The company emphasizes its ability to support business, government, military, humanitarian, and individual users through satellite-enabled voice, data, M2M, and IoT connectivity. Its competitive set includes other resellers and providers connected to satellite networks such as Iridium, Inmarsat, Thuraya, Globalstar, and Starlink. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001058307/000143774926010668/nxpl20251231_10k.htm)) Recent company developments suggest an ongoing restructuring and operational reset. SEC filings show that in 2026 the company completed a 1-for-10 reverse stock split, and the latest annual report indicates roughly 27.0 million shares outstanding as of March 27, 2026. Management continues to focus on expanding its global e-commerce footprint, strengthening healthcare operations, and evaluating strategic opportunities, including potential acquisitions. In short, the business remains a diversified but still relatively small-cap, transformation-stage platform with exposure to both satellite connectivity and healthcare services. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1058307/000143774926017156/nxpl20260331_10q.htm?utm_source=openai))