World Audio has requested a halt on trading in its shares until next week pending an announcement.

This week World Audio presented its annual results to the stock exchange, reporting a loss of $6.5 million, up on last year’s loss of $5.3 million.

The off band commercial broadcasting company, which says it is still in its start up phase, recorded $175,189 in advertising revenue for this year, down from the previous year’s $431,194.

A substantial amount of interest received on investor funds from the recent further rights issue amounted to $142,760, helping the company to total revenue earnings of $398,079.

The company spent just over $2 million on staff, depreciated over $946,000 on the growth of its technical facilities, and about $500,000 on advertising and promotions.

Managing Director Andrew Thompson was paid $277,920 in fees and salary.