With the deadline for filing its quarterly financials come and gone Global Eagle faces a number of challenges. The company indicated today that “continuing disruptions from the COVID-19 pandemic and their impact on the Company have required additional time to complete the Report and finalize the financial statements therein. The COVID-19 pandemic has disrupted, and continues to disrupt, the Company’s day-to-day activities, including limiting the Company’s access to facilities.”
As such, Global Eagle now anticipates filing its earnings no later than 6 July 2020. And the contents of that filing are not expected to paint a pretty picture.
The Company’s Annual Report on Form 10-K for the year ended December 31, 2019 previously disclosed that, due to conditions arising from the ongoing COVID-19 pandemic, there is substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the issuance of the financial statements.
In the Report, the Company expects to again disclose that, due to conditions arising from the ongoing COVID-19 pandemic, there is substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the issuance of the financial statements.
And that’s not all.
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