Global Eagle receives Nasdaq notice of noncompliance
On May 15, Global Eagle Entertainment received a notification from the Listing Qualifications Department of The NASDAQ Stock Market stating that the Company is in continued non-compliance with NASDAQ Listing Rule 5250(c)(1) because it has not yet filed its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2017 and remains delinquent in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2016. The NASDAQ letter has no immediate effect on the listing of the Company's common stock on The NASDAQ Capital Market.On May 19, the Company submitted to NASDAQ the Company's plan to regain compliance with the NASDAQ Listing Rule. If it accepts the Company's plan, NASDAQ can grant an exception of up to 180 calendar days from the due date of the Annual Report (which would be September 12) for the Company to regain compliance. If NASDAQ does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a NASDAQ Hearings Panel before any delisting occurs.