Orbital Tracking Corp (OTCBB:TRKK) Rebounds Big Time

We told Insider Financial readers back in March that Orbital Tracking Corp (OTCBB:TRKK) was looking to rebound. The company was the target of a vicious short attack that decimated its share price and hurt TRKK's loyal shareholder base. Now, however, shares have come roaring back with a vengeance and the worst looks to be over for this undervalued satellite play.Orbital Tracking Corp provides satellite based tracking, services as well as mobile voice and data communications services globally via satellite to the commercial and government users. Orbital specializes in services related to the Globalstar satellite constellation, including ground station construction, simplex tracking services and satellite telecommunications voice airtime. Orbital operates various e-commerce retail and tracking portals where users around the world can purchase satellite hardware and track assets in real-time on mobile devices or PCs.Driving the rebound in shares was the company reported a profitable Q1 on Monday the 16th. Consolidated revenues increased by 62% to approximately $1,295,264 as compared to $799,698 reported for the quarter ended March 31, 2015. Comparable revenue increased 35.8% and 204.9% for the Company's wholly owned subsidiaries, GTC and Orbital Satcom Corp., for the three months ended March 30, 2016. Total sales for GTC were $922,223 for the three months ended March 31, 2016 as compared to $679,112 for the three months ended March 31, 2015, an increase of $243,111 or 35.8%. Total sales for Orbital Satcom Corp. were $367,771 for the three months ended March 31, 2016 as compared to $120,586 for the three months ended March 31, 2015, an increase of $247,185 or 205%.Net income for the quarter ended March 31, 2016 was approximately $59,946 as compared to a net loss of approximately $421,982 in the comparable quarter of 2015. Comprehensive income was $61,985 for the quarter, as the company recorded a gain for foreign currency translation adjustments for the three months ended March 31, 2016 of $2,039, as compared to a comprehensive loss of $422,466, for the three months ended March 31, 2015.In March, TRKK announced that it had developed its first global tracking product, a dual-mode asset tracker, which will be available in the marketplace later this year following final testing and receipt of necessary regulatory and compatibility certifications. The first product designed and developed by the company, the dual-mode tracker utilizes both cellular and satellite technology to provide truly global tracking, automatically switching between the cellular and satellite links making it an ideal solution for use in both populated and remote areas, including trans-oceanic routes. For commercial users in Transportation, Shipping, Logistics, Fleet Management and Construction, it features detailing reporting alerts, status and GPS location data allowing cargo and vehicles to be tracked nearly anywhere in the world while lowering operating costs by utilizing cellular when available and satellite in remote areas, optimizing roaming charges and delivering significant cost savings.In February, in partnership with Globalstar Europe Satellite Services Ltd., a wholly owned subsidiary of Globalstar Inc (NYSEMKT:GSAT), the company's Global Telesat Communications subsidiary signed its latest government contract, a sales and support agreement with the UK Forestry Commission in connection with its purchase of up to 550 SPOT Gen3 messengers for its remote field staff. TRKK also launched its online retail operations in Japan, its first in Asia, through an online storefront on Amazon Japan. The new Japanese website is the latest addition to the Company’s growing global online sales footprint which now includes the UK, North America, Germany, France, Spain and Italy, and is an important launching point for the company’s expected launch into China later in 2016.Currently trading with a market cap of $6.6 million, TRKK has captured a lot of interest from investors and built a loyal shareholder base. This includes billionaire Dr. Phillip Frost, who has invested in TRKK through his his private investment firm, Frost Gamma Investments. We will be updating Insider Financial as soon as we know more. For continuing coverage on TRKK, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in TRKK and have not been compensated for this article.