Result of Annual General Meeting

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, announces that all resolutions put to shareholders at the Company’s Annual General Meeting held earlier today have been passed.

Enquiries

Forbidden Technologies plc
Ian McDonough, CEO
Jonathan Lees, Finance Director
Tel: +44 (0)20 8879 7245

Allenby Capital Limited (Nominated Adviser and Broker)
Nick Naylor
John Depasquale
Nicholas Chambers
Tel: +44 (0)20 3328 5656

About Forbidden Technologies plc

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Blackbird(R) is a registered trademark of Forbidden Technologies plc.

Websites
www.forbidden.co.uk
www.blackbird.video

Social media
www.linkedin.com/company/forbidden
www.twitter.com/BlackbirdCloud
www.facebook.com/BlackbirdCloudVideo/

Annual General Meeting Statement

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology is holding its Annual General Meeting today at 14:00pm at the Company’s offices, Tuition House, 27-37 St George’s Road, Wimbledon, London, SW19 4EU.

Ahead of the formal business of the meeting, David Main, Chairman of Forbidden, will make the following statement:

“Before proceeding with the formal part of the AGM, I should like to take the opportunity of commenting on the Company’s progress since we last met. We published our audited results for the year ended 31 December 2017 on 15(th) March 2018.

Whilst 2017 was a disappointing year in respect of sales growth there were some positives that we took into 2018. These included:

— The Company has brought in a strong commercially focused and externally appointed CEO, Ian McDonough, who is looking forward to speaking with you after the formal business of the AGM is concluded.

— We also hired a strong experienced sales director who has been in place since July.
— The Company reset its strategy to be exclusively B2B focused, and more specifically to be driving recurring infrastructure sales versus the traditional project-based revenue generated from the broadcast post market. By the end of the year, the percentage of total invoiced sales from recurring infrastructure sales in 2017 grew to 48% versus 28% in 2016.

— North America is very much a focus, particularly in the sports market, with revenues increasing year on year by 18%.

— We broke into the eSports market with Gfinity, a leading eSports content producer.
— In the development of our platform, we launched our patent pending Blackbird 9 codec and have made the strategic move to start providing our applications in JavaScript rather than Java.

Since joining, Ian has further strengthened the team against a much more intensively targeted sales strategy focused against our real market strengths in live and remote applications. The team now includes proven sales resources based in the US and Europe, and an experienced senior marketing and product management team.

Given that the Company incurred a loss after tax in the year ended 31 December 2017 of GBP2,336,000, let me touch on the matter of going concern. In terms of Invoiced Sales we have had a good first quarter showing a high double-digit growth vs. last year. Our internal forecasts are based on the forecast of three types of sales – recurring infrastructure sales from existing customers, repeat and new projects from existing customers and new sales from new customers. There are varying risks of achievement of these forecasts by sales type. The Directors believe that the combination of these forecasts along with the 1(st) quarter 2018 performance, sales pipeline growth, and potential cost management actions, demonstrate the business is operationally capable of meeting its obligations as they fall due and are confident they have plans in place to ensure the continuity of the business for at least twelve months.

In addition to our 1(st) quarter invoiced sales growth, post year-end we have completed the final two steps of putting our new strategy in place. These were to prove and make significant progress towards converting our web applications from Java to JavaScript, and finally to launch our unified brand for our platform and solutions – Blackbird(R). The two core solutions that we have launched are Blackbird Ascent and Blackbird Forte. At the most recent National Association of Broadcasters (“NAB”) conference in Las Vegas, the most important media technology exhibition just completed in April, this positioning and branding was very well received.

The Board is very aware that the significant value of our technology platform far exceeds the current revenue profile in the business. With the repositioning complete, the Board is fully committed to exploring all opportunities to optimise the value of the business for shareholders. This includes growing sales as currently described above and exploring technology licensing and strategic partnership opportunities going forward.

The Board is confident that the business is now well placed, and has the right leadership and team, to make real progress in realising full value from our Blackbird technology and platform”.

In addition, Ian McDonough Chief Executive Officer of Forbidden, will make the following statement:

“Our new strategic direction is to position our business under the Blackbird(R) brand and sell our solutions as a core part of the Company’s video capabilities. We believe Blackbird is the only codec in the world that has been specifically designed for editing (or as we prefer to say manipulating) video in the cloud. As a consequence, it has some very significant points of difference from the competition. It is now our strategy to focus on these real advantages in key verticals.

What does this mean?

It means that Blackbird provides a frictionless, fluid, highly-responsive workstation-like experience in the cloud. No competitor provides this experience as they are using codecs such as H.264/5. H.264 is a streaming codec designed for playback and not high-performance cloud editing. In a typical cloud editing context it can be difficult to manipulate, leading to poor navigation and an unresponsive experience. In contrast Blackbird will edit frame accurately at 60 frames per second as a web-based tool. That is how we position Blackbird. The only true cloud-native solution in a world that is rushing towards the cloud. That’s a powerful place to be.

The Blackbird master brand was officially launched at the National Association of Broadcasters (“NAB”) conference in Las Vegas earlier this month.

We have now elevated Blackbird to become our master brand. The platform known as Forscene is now a part of Blackbird. Our core products under Blackbird are now clearly defined and include Blackbird Forte and Blackbird Ascent.

Blackbird Forte is our premium fully specified story creation and publishing solution. Our roadmap for Forte includes opening up the APIs to interface with enriched graphics packages, time-accurate metadata exchange and Artificial Intelligence.

We have introduced Blackbird Ascent, a simple interface clipper for ‘professionals who are not editors’. These are for people such as journalists, reporters, researchers, marketers and the social media team, who need to clip and publish without professional editing experience.

Blackbird Edge is our other main product, which allows customers to create the proxy on a Linux box, Windows or indeed a Mac. This significantly overcomes complexities of ingesting content into the cloud. Blackbird Edge is a software defined conduit to the power of the cloud whereby content can be tracked while remaining in its existing location. This layer is topped with a selection of lightweight, web-based user applications such as Blackbird Ascent or the more comprehensive toolsets of Blackbird Forte to enable virtual use of the same (original) content without the need to scale up infrastructure. Ultimately the compelling idea that in our world of large video files you move the ‘computing to the content’ rather than the ‘content to the computing’ is a key principle of Blackbird Edge. Customers looking to increase monetisation of video content for online and social media can have these capabilities without the complex rollouts, making Blackbird Edge highly attractive.

With the Java program being translated into JavaScript, we will be able to make the claim that the Blackbird can be used on any standard device, and on any browser from anywhere.

The ongoing roll-out of the Blackbird 9 codec affords users of the proxy a high enough quality viewing experience to publish directly to social media, thus enhancing the efficiency of the media supply chain.

Early adopter customers have already understood the power, speed and quality of Blackbird and we invariably now see it being adopted as an integral component of their technology infrastructure. For us this is a SaaS model with recurring revenues, which is our business model.

Both Deltatre and IMG are great examples of our capability to be part of a large and international media supply chain. Both of these customers have recently renewed their contracts with us and we continue to increase the volume and variety of work we are undertaking with them. Another example of this is in the burgeoning genre of eSports where we are a partner to Gfinity plc and more recently ESP Gaming in Las Vegas.

This approach to the market is a marked change for the business. The combined use of the Blackbird 9 codec and our JavaScript applications enables our technology to be a fundamental component to our clients’ infrastructure and makes Forbidden a valued and key partner to their business. Recently we have announced a number of new infrastructure clients including Practising Law Institute and a significant Japanese telco, as well as some important wins in our traditional post-production business including Middlechild.

As I mentioned in my Shareholder Update on 13 December we had a record number of Proof of Concepts (“POCs”) in play. I’m happy to report a number of these have converted successfully including the fixed rig show and the Japanese telco. The North American broadcaster and several other POCs are also still live. As a policy though we have moved away from the POC strategy, focusing instead on negotiating straight to contract.

The team have just returned from a very busy NAB, where we had a much bigger presence than in 2017 and I can report we have some very interesting infrastructure sales opportunities to follow up in the coming months. These opportunities are looking to build relationships with technology providers to partner with them and provide a non-disruptive path for a flexible and scalable future.

The whole Blackbird team has left NAB with an even greater enthusiasm for the innovative Blackbird platform and the benefits it can bring to more efficiently create and monetise content”.

Enquiries

Forbidden Technologies plc
Ian McDonough, CEO
Jonathan Lees, Finance Director
Tel: +44 (0)20 8879 7245

Allenby Capital Limited (Nominated Adviser and Broker)
Nick Naylor
John Depasquale
Katrina Perez
Tel: +44 (0)20 3328 5656

About Forbidden Technologies plc

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Blackbird(R) is a registered trademark of Forbidden Technologies plc.

Websites
www.forbidden.co.uk
www.blackbird.video

Social media
www.linkedin.com/company/forbidden
www.twitter.com/BlackbirdCloud
www.facebook.com/BlackbirdCloudVideo/

Award-winning UK producer selects Blackbird Edit, cloud editing platform for documentary TV series

Award-winning UK producer selects
Blackbird cloud editing platform for documentary TV series

London – April 4, 2018 — Forbidden Technologies plc announced today a leading factual, features and entertainment television producer selects Blackbird for a BAFTA and Emmy award-winning documentary television programme.

The production company selected Blackbird to replace an existing EVS system to log and edit footage. The crew will use Blackbird to quickly log media from a gallery quad split of over 50+camera feeds, over an 18-week period.

This project is the first time Blackbird is used in a complete end to end fixed rig production and post-production cycle. Blackbird increases the value of post-production workflows by introducing a single logging toolset that moves seamlessly from location to edit suite. This enables producers and edit producers to review and search media across the entire production using rich logging metadata.

Ian McDonough, the CEO at Forbidden Technologies said, “I am delighted our incredible Blackbird software is extending into a new area of production. The fact we are an end to end solution on a fixed rig show dramatically extends our reach within the industry. We are bringing all the advantages of cloud as well as speed, collaboration and cost efficiencies to the customer which is quite an irresistible combination.”

Blackbird technology allows full visibility of multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Forbidden develops, markets and licenses a powerful cloud video platform using patented Blackbird® technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels, and corporations.

About Blackbird

About Forbidden Technologies plc

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels, and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Blackbird®  is a registered trademark of Forbidden Technologies plc.

 

Significant progress made in the Blackbird transformation to JavaScript, in partnership with Leaning Technologies

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, announces that the Blackbird editor running in a standard JavaScript enabled web browser will be previewed at the National Association of Broadcasters (“NAB”) trade show in Las Vegas in April. This timely breakthrough has been made possible by the Company’s partnership with Leaning Technologies, a leading provider of web application development tools, and will enable the use of the Blackbird platform without requiring installation of any browser plugins or applications.

This Blackbird editor development is the next major step in moving the powerful cloud-native Blackbird suite of production and delivery tools to JavaScript. Developments in JavaScript itself, and the Leaning Technologies tools which support it, have made the rapid development of this product possible.

All features of the Blackbird editor in Java, which has already handled around eight million hours of professional video content in the cloud, will be available in the JavaScript version. Like the original Java version, the Blackbird editor in JavaScript gives the full panoply of video logging, clipping, editing, publishing and distribution tools. Forbidden will be releasing this set of capabilities over time.

Forbidden is making use of Leaning Technologies’ powerful new CheerpJ development tool. CheerpJ converts Java byte code directly into JavaScript web applications, which run in all major web browsers.

In addition to the new editor being 100% compatible with the Java version, any new features in the Java source will be converted into new web application versions.

Blackbird’s professional video editor is the most advanced media application to use CheerpJ.

“This latest partnership is a major resource for Blackbird, accelerating the conversion of the Blackbird editor to JavaScript by many months”, said Stephen Streater, R&D Director, Forbidden Technologies. “This innovation ensures Blackbird will continue to provide best-in-class efficiency in video production workflows for the foreseeable future.”

“I’m delighted that the teams at Forbidden and Leaning Technologies have made progress so quickly and that we have an early version to demonstrate at NAB. The ability to use Blackbird on any web browser will increase our addressable global market and overall market opportunity.” said Ian McDonough, the CEO of Forbidden Technologies.

The CEO of Leaning Technologies, Stefano De Rossi said, “We are delighted that the inspiring Blackbird editor in JavaScript is being demonstrated at NAB 2018, Las Vegas, USA. Compiled with our revolutionary CheerpJ compiler, our tight development processes and dependable software have allowed Forbidden to deliver their JavaScript editor in record time”.

 

Enquiries:

 Forbidden Technologies plc

Ian McDonough, CEO
Jonathan Lees, Finance Director

Tel: +44 (0)20 8879 7245

 

Allenby Capital Limited (Nominated Adviser and Broker)

Nick Naylor
John Depasquale
Katrina Perez

Tel: +44 (0)20 3328 5656

About Leaning Technologies
Leaning Technologies provides its customers with development tools and professional services to develop large-scale, high-performance web applications in Java and C/C++. Its professional services include full porting services, optimisation and WebAssembly consulting, and enterprise support.

Leaning Technologies offers CheerpJ, a Java-to-JavaScript compiler, and Cheerp, a C/C++ to JavaScript/WebAssembly compiler. These solutions enable its users to convert desktop and mobile applications into web applications effortlessly. Leaning Technologies was founded by Stefano De Rossi, Massimo Grava, and Alessandro Pignotti in 2012. It has offices in London, United Kingdom; and Amsterdam, Netherlands.

www.leaningtech.com

 

About Forbidden Technologies plc



Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels and corporations.

 

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Blackbird® is a registered trademark of Forbidden Technologies plc.

www.forbidden.co.uk

 

Leading US educational provider chooses Blackbird live editing platform for on-demand training services

27 March 2018, London – Forbidden Technologies, through its partnership with Bridge Digital, is pleased to announce a leading US education provider, specialising in legal education has selected the Blackbird cloud video platform. The platform will allow staff to edit live stream seminars and court procedures, which form part of  their on-demand training services.

To read this press release, please click here. 

 

Director/PDMR Shareholding

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)

Forbidden Technologies plc (AIM: FBT) announces that it has received notification that Ian McDonough, Chief Executive Officer of the Company, has purchased on 20 March 2018 200,000 ordinary shares of 0.8 pence each in the Company (“Ordinary Shares”) at a price of 4.25 pence per Ordinary Share and 300,000 ordinary shares of 0.8 pence each in the Company (“Ordinary Shares”) at a price of 5.00 pence per Ordinary Share.

Following the above purchase, Mr McDonough has a total beneficial holding of 1,262,862 Ordinary Shares, representing approximately 0.7 per cent. of the Company’s issued share capital.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1 Details of the person discharging managerial
responsibilities / person closely associated
— —————————————————————
a) Name Ian McDonough
— ————————– ———————————–
2 Reason for the notification
— —————————————————————
a) Position/status Director, Chief Executive
Officer
— ————————– ———————————–
b) Initial notification Initial notification
/Amendment
— ————————– ———————————–
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
— —————————————————————
a) Name Forbidden Technologies plc
— ————————– ———————————–
b) LEI 2138006DWRVTIAVW3415
— ————————– ———————————–
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
— —————————————————————
a) Description of the Ordinary shares of 0.8p
financial instrument, each in Forbidden Technologies
type of instrument plc
Identification code
Identification code (ISIN)
for Forbidden Technologies
plc ordinary shares: GB0004740477
— ————————– ———————————–
b) Nature of the transaction Purchase of Ordinary Shares
— ————————– ———————————–
c) Price(s) and volume(s) Price(s) Volume(s)
——— ———-
4.25p 200,000
5.00p 300,000
——— ———-
— ————————– ———————————–
d) Aggregated information N/A
– Aggregated volume
– Price
— ————————– ———————————–
e) Date of the transaction 20 March 2018
— ————————– ———————————–
f) Place of the transaction London Stock Exchange, AIM
(FBT)
— ————————– ———————————–

Enquiries

Forbidden Technologies plc
Ian McDonough, CEO
Jonathan Lees, Finance Director
Tel: +44 (0)20 8879 7245

Allenby Capital Limited (Nominated Adviser and Broker)
Nick Naylor
John Depasquale
Katrina Perez
Tel: +44 (0)20 3328 5656

About Forbidden Technologies plc

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Blackbird® is a registered trademark of Forbidden Technologies plc.

Websites
www.forbidden.co.uk
www.forscene.com

Social media
www.linkedin.com/company/116180/
www.facebook.com/ForbiddenTechnologies
www.linkedin.com/company/forscene
www.facebook.com/FORscene
www.youtube.com/user/ForsceneTraining