Interim Results, June 2004
24th September, 2004
Interim Results for the six months ended 30th June 2004
I am pleased to report that sales for the six months ending 30
June 2004, at £46,202, were triple the level of the same period a year ago
(2003: £15,333). The loss in the six months was lower, at £227,021
(2003: £233,919) and the balance sheet remains strong with cash resources
at £1,874,171 (2003: £2,442,962).
The company continues its tight cost control and efficient use
of skilled resources and partners.
We have continued our move towards the successful commercialisation of value added
products, culminating in the launch of FORscene at Europe’s largest broadcasting
convention, IBC, in Amsterdam this September. FORscene combines Forbidden’s web and
mobile technology into an intuitive editing front end.
FORscene pulls together the full process of ingesting raw video, editing it and
publishing it through multiple channels across different bandwidths, e.g. mobile,
broadband and modem. One of our earliest customers and our development partner is
Mentorn, one of the largest production companies in the UK. Their support for the
product is evident from the video interview which can be seen on our website
http://www.forbidden.co.uk/. The product is being sold either as a pay-as-you-go
service, or through the provision of an in-house system with usage based charges.
Our ‘pay as you go’ service allows customers to log in from anywhere in the world
and edit and collaborate in the post production process, an activity that to date
has often involved long delays, expensive flights and sending video tapes by courier.
FORscene adds many benefits to the production and distribution of videos at a
significantly lower cost to current alternatives. The key benefits include
multi-location collaborative editing, easy access to video for client approval,
a low up-front cost compared to current editing systems, the ability to add web based
channels to monetize archived video and the ability to provide distribution of produced
materials down multiple channels. It uses the FORlive codec launched last year and can
now be done on your own PC without any software or hardware upgrades. FORweb (video on
the web) and FORmobile (video on mobile phones) are now as simple as drag and drop on
the graphical user interface.
At the IBC event the organisers used Forbidden’s FORmobile player to distribute
news of their event on mobile phones. Using an IBC branded player, delegates were
able to swap videos for free using our Viewtooth technology.
FORscene was greeted with acclaim at IBC as a technical
breakthrough in the large established video editing and publishing market. The
product also extends this market into new areas for web and mobile video
publishing, giving content owners easy access to these channels. Numerous
visitors have expressed strong interest in the product and the first sales
are already coming in. We expect FORscene to become a very significant product
as it develops over the coming year.