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WorldSpace posts $81,469 operating loss for month on zero revenues
By Susanna Moon
Chicago, May 20 - WorldSpace, Inc. recorded a $81,469 operating loss for the month ended April 11 on no revenues, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.
The net loss for the April period was $277,570, and the company had $876,089 in cash and cash equivalents at April 30.
WorldSpace, based in Silver Spring, Md., has established an operational satellite-based digital radio system, commonly known as Digital Audio Radio Service, and is a licensed DARS provider. The company filed for bankruptcy on Oct. 17, 2008. Its Chapter 11 case number is 08-12412.
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