04:33 PM EDT, 05/27/2024 (MT Newswires) -- BEACN Wizardry & Magic (BECN.V), on Monday released delayed fourth-quarter results and applied to the TSX Venture Exchange to have its trading reinstated after it was halted on May 7, 2024.

The consumer-electronics developer said sales of its BEACN audio products for the year ended December 31, 2023, resulted in revenue of $2.9 million, down from $4.3 million in 2022 and a loss of $2.2 million, wider than its 2022 loss of $451,154.

According to a company statement, BEACN continues to invest in product development and plans to introduce new products in the near term. The company "is also pleased with its initial traction into B2B sales and expects that an increased retailer base," its growing strategic distribution network and the introduction of additional products that is anticipated to lead to increased sales and profitability in the future.