NHL team Buffalo Sabres renews Blackbird partnership for game highlights

September 20, 2018, London – Forbidden Technologies plc, the developer and seller of Blackbird, the workstation experience in the cloud, has announced that the Buffalo Sabres have extended their Blackbird partnership.

Blackbird enables the Buffalo Sabres’ media team to access, edit, add closed captions and rapidly publish video highlights of the NHL team’s games to social media and TV for the enjoyment of fans worldwide.  Leading sports production and content development and distribution company, MSG Networks, which covers Buffalo Sabres games is also a Blackbird partner.

Blackbird’s super low-latency codec allows video to be frame-accurately viewed and edited just 6 seconds after live from anywhere using bandwidth as low as 2Mb per second. Video production teams benefit from a workstation experience in the cloud using Blackbird – significantly increasing productivity and eliminating the potential technical points of failure that on-premise hardware can cause.

Forbidden CEO, Ian McDonough said: “The Sabres renewing is a great endorsement of how Blackbird has become a vital part of their video production infrastructure week in week out. We’re delighted to extend our commercial relationship with them.”

“We rely on Blackbird to help us share our live content across multiple platforms,” said Mark Preisler, Pegula Sports and Entertainment’s Executive Vice President of Media and Content. “Blackbird technology keeps the process of posting video with captioning simple and efficient.”

 

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 which results in improved monetization of video content.

To find out more about Blackbird Forte and Blackbird Ascent contact commercial@blackbird.video or visit www.blackbird.video

Blackbird® is a registered trademark of Forbidden Technologies plc.

Buffalo Sabres ® is a registered trademark of The Hockey Western New York, LLC. All NHL logos and marks and NHL team logos and marks are the property of the NHL.

Atlas Digital, Inc. Selects Secured Blackbird® platform for New Integrated Workflows including Dailies and Review & Approval

September 14, 2018, London & Los Angeles – Forbidden Technologies plc announced Atlas Digital selected and partnered with the award-winning Blackbird for post-production, dailies and secured delivery for television, feature film and major international OTT platforms.

Blackbird integrated into existing Atlas Digital workflows and infrastructure which affords Atlas to simply create new, efficient and secured workflows for their customers, a core value the company was founded on.  For more than 15 years, Atlas Digital has offered an extensive variety of state of the art products, services and world class support, including turn-key edit systems, post production rentals, on site and remote technical support, video and audio finishing. Purpose built for the cloud, Blackbird enables secure, ultra-fast, frame-accurate editing and distribution of video content by anyone, anytime, anywhere and on any device using bandwidth as low as 2Mb per second. Blackbird enables Atlas Digital to manage media with even greater efficiency and speed without the need to download or upload completed work. Blackbird can be used for review, annotation and approval of media content by the production team within a minute of capture when used on the Blackbird platform.  The team can use their device of choice on a very low bandwidth connection yet still maintain high performance processes expected of high-end, expensive workstations.

Blackbird supports viewing and logging, up to 18 cameras or video sources and 36 audio channels, with flexibility deep enough to offer a hybrid technical model, incorporating both on premise, remote and cloud options. The Blackbird codec runs frame accurately with a high performance workstation like experience on a lightweight connection of 2 Mb/s. The codec and Edge server software rapidly and securely service volumes of video content including watermarking, wherein files can be accessed within seconds and viewed via stream from any browser based device, anywhere, at any time without the need for any files to be fully downloaded or transferred, giving significant time and budget savings. In many cases Blackbird will provide live dailies concurrently to multiple locations, even as a growing file accommodating closed captioning.

Forbidden CEO, Ian McDonough said: “We are excited to have Atlas Digital join our North American roster of Blackbird customers and infrastructure partners. Blackbird and Atlas Digital share a deep expertise in post-production, remote-workflows and live-clipping and highlighting. Blackbird has also recently added dailies and localization to our portfolio of client solutions. In addition we continue adding more efficiency and security using game-changing watermarking technology. Blackbird media files can be delivered and used in seconds at any worldwide location with minimal bandwidth and without the need to download. It can be used securely on any device through a browser.”

Atlas Digital, CEO Shawn Sanbar said: “We have been a trusted partner to studios, producers, editors, distributors and creative executives for more than 15 years in the Hollywood community. I’m proud at what we started, as a creative technical vision of defining creative workflows, Atlas has become a leading provider of integrated post services, and we are always looking for improved processes for our customers. Incorporating Blackbird and its unique codec was seamless and it immediately increased security and efficiencies. Being able to work on a 2 Mb/s connection on any browser is a game-changer. As more original content is created and streaming distribution increases, throughput without creative sacrifice is essential. As the media landscape rapidly evolves, adding the Blackbird codec and its rich digital toolsets, allows us to confidently support all types of projects including live production.  Blackbird will be a great extension for our customers.  After extensive testing, we are very confident with the enhanced benefits Blackbird brings, especially speed, agility and security. We are confident and looking forward to a long term Blackbird-Atlas Digital relationship.”

About Atlas Digital

Atlas Digital is a full service post-production facility that started operations in 2003 and supports more than 1,100 editing systems. Atlas Digital offers both remote services including edit systems or on-premise facilities that can rented for editing and production space. It offers state of the art products and high quality technical services, 24/7. Some of the services include: turn-key and component edit systems rentals, video mastering and finishing, Digital Intermediates, Color Grading, Visual Effects, encoding, delivery, versioning and transcription services. Customers include Major Studios, Production Companies, Distributors, Broadcast and Cable Networks and OTT Electronic Platforms.

 

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.

To find out more about the Blackbird Cloud Platform, contact commercial@blackbird.video or visit www.blackbird.video

Visit us at IBC 2018, Hall 1, C27

Blackbird® is a registered trademark of Forbidden Technologies plc.

IBC 2018: Forbidden Technologies’ Mac Blackbird Edge a game-changer for remote video workflows

September 13, 2018, London – Forbidden Technologies plc, the developer and seller of Blackbird®, the workstation experience in the cloud, will be demonstrating the Mac® version of Blackbird Edge, which delivers game-changing advantages for remote video workflows, at IBC 2018.

Blackbird Edge was previously released only on Linux®. Blackbird Edge is the state-of-the-art foundation which enables rapid video editing, enriching and managing using cloud workflows across the media supply chain.

Now running on a wide variety of Apple® Mac devices, Blackbird Edge provides unprecedented flexibility for running Edge technology anywhere there is a data network. TV and movie production teams in remote locations with bandwidth as low as 2Mb per second can now ingest video content – transcoded via the Blackbird codec and uploaded to the Blackbird cloud – for colleagues anywhere else in the world to view, edit and enrich.

Blackbird Edge completely removes the need to physically carry or ship huge volumes of video content on hard drives – saving significant time and associated costs as well as dramatically accelerating video workflows involving remote production teams.

Blackbird Edge also removes the need for original sources to be uploaded before cloud editing can start with the Blackbird video being used to create the editing decisions, which are later reflected in a full resolution render. With the ability to publish locally, in many workflows, only the final high resolution version of the edit is uploaded to the cloud for distribution, reducing internet bandwidth requirement at the Edge location by up to 99%.

Forbidden CEO, Ian McDonough said: “Our new and innovative Mac Blackbird Edge software frees Blackbird up to be created anywhere on a machine as widely used as an Apple laptop. This massively increases the addressable audience for Blackbird by lowering barriers to entry. It also allows remote – sometimes very remote – teams to edit, enrich and publish content at record speed. Although very new, the demand for the product has been high and it has already been successfully deployed in productions in the UK, and as far afield as Los Angeles and remote islands in the Philippines.”

Forbidden Technologies will be demonstrating Blackbird at IBC 2018 (Hall 1, C27) from 14th -18th September. For more information visit: www.blackbird.video/ibc

 

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 which results in improved monetisation of video content.

To find out more about Blackbird Forte and Blackbird Ascent contact commercial@blackbird.video or visit www.blackbird.video

Blackbird® is a registered trademark of Forbidden Technologies plc

Mac® and Apple® are registered trademarks of Apple Inc

Linux® is a trademark of Linus Torvalds

 

Interim Results

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, announces its interim results for the six months ended 30 June 2018.

Financial highlights

* Invoiced sales increased to GBP489k (6 months to 30 June 2017: GBP355k)

* Revenues increased to GBP377k (6 months to 30 June 2017: GBP316k)

* Deferred revenue increased by 73 per cent. to GBP252k from GBP146k at 31 December 2017

* Contracted orders and deferred revenue increased by 68 per cent to GBP648k from GBP385k at 31 December 2017

* Operating costs of GBP1,289k (6 months to 30 June 2017: GBP1,190k)

* EBITDA loss of GBP965k (6 months to 30 June 2017: GBP930k)

* Net loss before tax GBP1,274k (6 months to 30 June 2017: GBP1,166k)

* Year on year operational spend, including capital expenditure of GBP1,408k (30(th) June 2017: GBP1,331k)

* GBP5.44 million of net funds raised from the issue of 115,000,000 shares at 5p in June 2018

* Liquid funds of GBP6,197k at 30 June 2018 (31 December 2017: GBP1,752k)

Operational highlights

* New significant six-figure US deal with TownNews.com to provide production infrastructure to Meredith Corporation’s 17 regional news networks reaching in excess of 11% of US TV households

* Increase in longer-term, higher value licensing contracts reflected in higher deferred revenue and stronger order book

* Expansion in eSports industry in US in live and post-event edit and production

* Repositioning of the business under the Blackbird brand

* Blackbird launch in Japan in a preliminary collaboration with a tier 1 telecommunications company

* Significant progress in our JavaScript transformation working with Leaning Technologies Ltd

* Technology alliance with Veritone, owner of aiWARE, to provide Artificial Intelligence for the generation of metadata for video search capabilities

Post Period End Highlights

* Pilot successfully completed at North American broadcaster and sports rights holder

* Secured first customer in the fast growing localisation sector using our Blackbird Localisation Cloud solution for international OTT platform

* Renewal of the infrastructure contract with our large US New York based regional sports network

* Promising engagement in multiple discussions around OEM providers using our ultra-light video codec within their solutions.

* Exhibiting this week at IBC in Amsterdam on Microsoft’s stand as a tier one partner of Microsoft Azure

Ian McDonough, Forbidden Technologies Chief Executive Officer, commented:

“This has been a very busy period for the company involving a successful and over-subscribed placing raising GBP5.75 million, the repositioning of our product suite under Blackbird and the new product launches of Blackbird Ascent, Forte and Edge. The invoiced sales in this period indicate a record first-half performance for the company. We have brought in fresh thinking in many areas of the team including product management, sales and pre-sales.

Post the recent placing, we closed a large OEM contract with TownNews.com and monthly invoicing will be starting in October. The deal means Blackbird will be used in 17 regional news networks reaching 11% of the US population. Our strategic focus on North America has had good traction in other sectors too and we continue to focus on building our base of these recurring revenue infrastructure contracts. In recent weeks we have secured our first customer in the fast growing localisation sector and we are progressing well with prospects for a dailies solution. These both represent sectors that Blackbird can add tremendous value to through increased speed and reduced cost.

As part of our strategy to significantly increase our addressable audience and use cases, we have developed and launched a Mac version of the Blackbird Edge, which enables users to ingest content through a wide variety of devices ranging from a laptop to the latest iMac Pro. macOS Edge has already been used by multiple clients in testing and remote environments where bandwidth and connectivity is limited.

In order to future proof Blackbird and simplify onboarding, Forbidden will launch at the IBC trade show a JavaScript version of its Blackbird editing products, Forte and Ascent. These are designed to run in any modern computer and browser combination without installation or configuration.

To assist codec licensing, as well as publication and distribution using Blackbird, development of the Blackbird Player continues as we discuss its potential application with prospects.

The growth of commercial cloud, and the size of the major players involved, has created an opportunity to integrate more closely with cloud providers. At IBC, we will be showcasing the Blackbird Azure workflow used by Deltatre as infrastructure on a major US sport.

These four products mark a huge step forward technically. They dramatically increase our addressable audience and overall market opportunity as well as helping to future-proof the business. They position us well to add value in the fast-growing cloud market.”

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, eSports, 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 which results in improved monetisation of video content.

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

All other trademarks acknowledged

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

Social Media
www.linkedin.com/company/forbidden
www.twitter.com/forbiddentech
www.facebook.com/ForbiddenTechnologies/

Chairman’s statement

In the six-month period to 30 June 2018, we started building sales growth momentum through licensing our Blackbird cloud video solutions as part of the core media infrastructure for companies, and generating SaaS based repeatable revenues. Inevitably as we focus on larger contracts our sales growth rate can be uneven and vary from period to period.

Our core metrics are showing the rebuilding of this growth momentum. In the first half of the year vs. the same period last year, we are showing revenue growth of 19% and invoiced sales growth of 38%, and we have deferred revenue growth of 73% from the beginning of the year. In addition, in North America, our core market for growth, invoiced sales have increased 100% in the first half vs. the same period last year, whilst our level of repeat sales as a % of total sales has grown to 65% vs. 54% in the same period last year.

We are confident in our cloud video OEM and infrastructure strategy, particularly in North America. The global cloud video streaming market was valued at US$5.2 billion in 2016 and is expected to grow by 18.9% CAGR to US$16.6 billion by 2023. North America is the leading player in this market and the largest vertical segment is Media and Entertainment. (PR Newswire April 2018)

We now have the core components of our strategy in place. These core components include a significantly stronger North American commercial team, the strong master brand, Blackbird, and specific products, starting with Blackbird Edge, Blackbird Ascent and Blackbird Forte. We have also converted major parts of our solutions into JavaScript, a vital requirement for future infrastructure prospects.

Our commercial successes in the first half of the year include expanding the use of Blackbird in the eSports industry with Production Associates’ live pro-celebrity ‘Fortnite’ event in Los Angeles, and ESP Gaming, a content creation company based in Las Vegas where we are part of their regular infrastructure. We deployed Blackbird for the first time in a complete fixed rig and post production cycle in the UK and launching Blackbird in Japan with a Tier 1 telecommunications operator. In addition, we have significantly expanded our relationship with TownNews.com to help Meredith Corporation deliver news content across 17 regional news networks (invoicing starts in October).

Our technology and product development team are intensively focused on supporting our commercial opportunities going forward. One of the areas we are now working on is to further develop Blackbird’s social media integration. We have also created technology partnerships with Leaning Technologies, who are working with us to move critical platform solutions to JavaScript, and Veritone, who with their access to multiple AI cognitive engines, can automate the generation of frame accurate metadata to enrich content, make it searchable and integrate it into Blackbird.

Finally, during the period we successfully raised GBP5.75 million, pre-expenses. This provides us with a strong financial foundation that is essential to supporting our position as a provider of media infrastructure solutions. We can now also selectively strengthen and invest in our commercial and product delivery capabilities as we build sales momentum. We believe this financing provides us with the cash requirements to take us through to profitability.

Financial

Our core growth metrics indicate good sales growth momentum. Revenue increased 19% to GBP377k for the six-month period ending 30(th) June 2018 versus GBP316k in the corresponding period last year. Invoiced sales increased 38% to GBP489k for the six-month period ending 30(th) June 2018 versus GBP355k in the corresponding period last year. Deferred revenue on the balance sheet (already invoiced, to be earned in future accounting periods) was up 73% to GBP252k compared to GBP146k at 31(st) December 2017. Contracted orders and deferred revenue combined increased 68% to GBP648k from GBP385k at 31(st) December 2017.

In North America, our core market for growth, invoiced sales increased 100% year on year to GBP92k. Overall, invoiced sales in live sports increased by 59% year on year to GBP164k.

Operating costs during the period were GBP1,289k versus GBP1,190k in the corresponding period last year, net of capitalised development costs of GBP111k (2017: GBP103k). Total spend including capitalised expenditure was GBP1,408k versus GBP1,331k in the corresponding period last year. The EBITDA loss for the period was GBP965k versus GBP930k, and the loss for the period was GBP1,274k versus GBP1,166k in the corresponding period last year.

Cash used in operations in the period was GBP902k (30 June 2017: GBP825k). The Company had liquid funds of GBP6,197k at 30 June 2018 (31 December 2017: GBP1,752k). This cash balance includes a successful fundraising in June 2018 which generated total net cash, after fundraising costs, of GBP5,441k.

Outlook

We start the second half with contracted orders including deferred revenue of GBP648k up from GBP385k at 31 December 2017. This includes the significant six-digit deal with TownNews.com announced in June, for which the first sales invoices will be raised and revenue earned in October 2018.

We continue to progress our OEM strategy, of which Townnews.com is a good example, with multiple discussions with other large scale North American companies. In this context, the pilot with a major North American media company has successfully completed.

The conversion of our Java solutions to JavaScript is already largely complete, and the first phases of this will be launched this month at IBC 2018 (International Broadcasting Convention). Our integrated commercial cloud workflow that we have built together with Microsoft Azure and Deltatre will also be exhibited. We’re looking forward to a strong IBC where we will be partnering Microsoft on the Azure stand.

The board continue to believe in our strategy and look forward to the future with confidence.

UNAUDITED AND CONDENSED CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME FOR THE SIX MONTHSED 30
JUNE 2018

Unaudited
Half year Unaudited Audited
to Half year Year to
30 June to 31
2018 30 June December
2017 2017
GBP GBP GBP
CONTINUING OPERATIONS

Revenue 377,438 316,349 758,835
Cost of Sales (53,800) (56,026) (151,113)
========================================= ============= ============ ============

GROSS PROFIT 323,638 260,323 607,722

Operating costs (1,289,026) (1,190,336) (2,452,158)
========================================= ============= ============ ============

EARNINGS BEFORE INTEREST, TAXATION,
DEPRECIATION AND AMORTISATION (965,388) (930,013) (1,844,436)

Depreciation (21,318) (19,474) (47,091)
Amortisation (264,580) (254,785) (512,549)
Employee share option costs (23,832) 37,655 42,137
(309,730) (236,604) (517,503)

OPERATING LOSS (1,275,118) (1,166,617) (2,361,939)

Finance income 970 160 671
========================================= ============= ============ ============

LOSS BEFORE INCOME TAX (1,274,148) (1,166,457) (2,361,268)

Income Tax – – 25,268
========================================= ============= ============ ============

LOSS FOR THE PERIOD (1,274,148) (1,166,457) (2,336,000)

TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD (1,274,148) (1,166,457) (2,336,000)
========================================= ============= ============ ============
Earnings per share expressed
in pence per share:
Basic – continuing and total
operations (0.68p) (0.65p) (1.29p)
========================================= ============= ============ ============

UNAUDITED AND CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

30 JUNE 2018

Unaudited Unaudited Audited
at 30 June at 30 June at 31 December
2018 2017 2017
GBP GBP GBP
ASSETS
NON-CURRENT ASSETS

Intangible assets 884,060 1,192,376 1,038,095

Property, plant and equipment 46,479 73,154 59,750
================================ ============= ============= ================

930,539 1,265,530 1,097,845
=============================== ============= ============= ================

CURRENT ASSETS

Trade and other receivables 323,350 372,815 221,095

Tax receivable – – 25,268

Cash and cash equivalents 6,196,701 2,768,870 1,752,349
——————————– ————- ————- —————-

6,520,051 3,141,685 1,998,712
=============================== ============= ============= ================

TOTAL ASSETS 7,450,590 4,407,215 3,096,557
================================ ============= ============= ================

EQUITY
SHAREHOLDERS’ EQUITY

Called up share capital 2,363,890 1,443,890 1,443,890

Share premium 21,456,570 16,935,301 16,935,301

Capital contribution reserve 125,000 125,000 125,000

Retained earnings (17,083,369) (14,659,028) (15,833,053)

TOTAL EQUITY 6,862,091 3,845,163 2,671,138
================================ ============= ============= ================

CURRENT LIABILITIES

Trade and other payables 588,499 562,052 425,419
================================ ============= ============= ================

TOTAL LIABILITIES 588,499 562,052 425,419
================================ ============= ============= ================

TOTAL EQUITY AND LIABILITIES 7,450,590 4,407,215 3,096,557
================================ ============= ============= ================

UNAUDITED AND CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHSED 30 JUNE 2018

Capital
Called up contribution Retained
share capital Share premium reserve earnings Total equity
GBP GBP GBP GBP GBP

Balance at 1
January 2017 1,443,890 16,935,301 125,000 (13,454,916) 5,049,275

Changes in equity

Share based payment – – – (37,655) (37,655)

Total comprehensive
income – – – (1,166,457) (1,166,457)
———————- ————— ————– ————– ————- ————-

Balance at 30
June 2017 1,443,890 16,935,301 125,000 (14,659,028) 3,845,163
———————- ————— ————– ————– ————- ————-

Changes in equity

Share based payment – – – (4,482) (4,482)

Total comprehensive
income – – – (1,169,543) (1,169,543)
====================== =============== ============== ============== ============= =============

Balance at 31
December 2017 1,443,890 16,935,301 125,000 (15,833,053) 2,671,138
====================== =============== ============== ============== ============= =============

Changes in equity

Issue of share
capital 920,000 4,521,269 – – 5,441,269

Share based payment – – – 23,832 23,832

Total comprehensive
income – – – (1,274,148) (1,274,148)
====================== =============== ============== ============== ============= =============

Balance at 30
June 2018 2,363,890 21,456,570 125,000 (17,083,369) 6,862,091
====================== =============== ============== ============== ============= =============

UNAUDITED AND CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED 30 JUNE 2018

Unaudited Unaudited Audited
Half year Half year Year to
to to 31
30 June 30 June December
2018 2017 2017

GBP GBP GBP
EARNINGS BEFORE INTEREST, TAXATION,
DEPRECIATION AND AMORTISATION (965,388) (930,013) (1,844,436)

(Increase)/decrease in trade
and other receivables (102,255) 50,709 197,679
Increase/(decrease) in trade
and other payables 166,002 54,498 (79,210)
———————————————- ————— ————— —————-

CASH USED IN OPERATIONS (901,641) (824,806) (1,725,967)

Tax received 25,268 23,529 23,529
———————————————- ————— ————— —————-

NET CASH FROM OPERATING ACTIVITIES (876,373) (801,277) (1,702,438)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of intangible fixed
assets (110,545) (103,327) (206,810)
Purchase of tangible fixed
assets (8,047) (37,232) (46,695)
Interest received 970 160 671
———————————————- ————— ————— —————-

NET CASH FROM INVESTING ACTIVITIES (117,622) (140,399) (252,834)

CASH FLOWS FROM FINANCING ACTIVITIES

Share issue (net of expenses) 5,441,269 – –
Repayment of finance lease (2,922) (487) (3,412)
———————————————- ————— ————— —————-
NET CASH FROM FINANCING ACTIVITIES 5,438,347 (487) (3,412)

Increase/(decrease) in cash
and cash equivalents 4,444,352 (942,163) (1,958,684)
———————————————- ————— ————— —————-

CASH AND CASH EQUIVALENTS AT
BEGINNING OF PERIOD 1,752,349 3,711,033 3,711,033

CASH AND CASH EQUIVALENTS AT
END OF PERIOD 6,196,701 2,768,870 1,752,349
———————————————- ————— ————— —————-

NOTES TO THE UNAUDITED AND CONDENSED CONSOLIDATED INTERIM ACCOUNTS

FOR THE SIX MONTHS ENDED 30 JUNE 2018

1. Basis of preparation and accounting policies
These interim statements have been prepared on a basis consistent with International Financial Reporting Standards (IFRS). They do not contain all of the information required for full financial statements and should be read in conjunction with the consolidated financial statements of the Company as at and for the year ended 31 December 2017. These interim financial statements do not constitute statutory accounts within the meaning of the Companies Act.

The interim financial information has not been audited. The interim financial information was approved by the Board of Directors on 11th September 2017. The information for the year ended 31 December 2017 is extracted from the statutory financial statements for that year which have been reported on by the Group’s auditors and delivered to the Registrar of Companies. The audit report was unqualified and did not contain a statement under s498 (2) or 498(3) of the Companies Act 2006.

The accounting policies applied by the Company in these interim financial statements are the same as those applied by the Company in its financial statements for the year ended 31 December 2017. However, the interim financial statements are prepared in accordance with IFRS15, the new accounting standard for revenue recognition, which came into effect from 1(st) January 2018. No changes were needed to the amounts in the interim financial statements due to this new revenue accounting standard.

Forbidden showcases Blackbird’s cloud experience on Microsoft’s Azure IBC 2018 stand

September 11, 2018, London – Forbidden Technologies plc, the developer and seller of Blackbird®, will be working with Microsoft at IBC 2018 to showcase Blackbird’s workstation experience in the cloud. Blackbird is fully integrated with Microsoft Azure Media Services.

Production teams use Blackbird running on Azure Media Services to turn live video into edited and enriched stories. These are published through Blackbird and hosted on Azure. The service is accessed using any browser on any device from anywhere in the world.

Blackbird is the only solution on the market that provides such responsive frame-accurate navigation in the cloud. It plays edited media directly without any need for pre-render, and its integrated Blackbird Waveform supports jog and shuttle, as well as any playback speed and direction.

Deltatre, a leading supplier of digital and broadcast services in the sports sector, is an extensive user of Blackbird through Azure Media Services. Deltatre uses Blackbird to extend its OTT offering of editing services for live and on-demand content for a wide range of sports including American football, athletics, golf, rugby and cycling.

In one example Blackbird Forte is used to edit live highlights for 256 games per season of a major US sport all using Azure.

To meet the Blackbird team please visit the Blackbird exhibit on the Microsoft booth in Hall 1, #C27. For more information about IBC 2018 please visit https://show.ibc.org/.

Forbidden CEO, Ian McDonough said: “‘We are very happy to work with Microsoft Azure on their stand this year. It’s a great opportunity for us to showcase our Blackbird Edge software operating in Azure and a ground-breaking workflow that has come as a result of our cooperation.’

Tony Emerson, Managing Director, Worldwide Media & Entertainment Microsoft Corp. said, “In today’s demanding news, media and digital industry, our mutual customers depend on solutions such as Blackbird to increase speed to market. We are pleased Forbidden Technologies plc will make the Blackbird cloud platform available to Microsoft Azure customers, further enhancing their ability to create and manage digital content, while reducing production costs and fostering workforce flexibility.”

 

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 its 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 which results in improved monetisation of video content.

To find out more about Blackbird Forte and Blackbird Ascent contact commercial@blackbird.video or visit www.blackbird.video

Blackbird® is a registered trademark of Forbidden Technologies plc.

Von Johnson & Associates, Inc. chooses secured Blackbird for international localization

September 5, 2018, London & Los Angeles – Forbidden Technologies plc has announced that Von Johnson & Associates, Inc. (VJA) has selected and is partnering with the award-winning Blackbird cloud platform for localization production and secured delivery of video content for television, feature film and major international OTT platforms including Apple, Netflix and Amazon.

Blackbird seamlessly and easily integrated into VJA’s existing media infrastructure and workflow, which uses the SpeedySuite Facility Management System for expertly managing their existing operations. The Blackbird codec is purpose-built for the cloud environment but flexible enough that a server can be installed and maintained locally. The Blackbird codec runs frame-accurately like a high-performance workstation on a lightweight connection of 2 mb/s. The codec and Edge server software rapidly and securely service huge volumes of video content including watermarking, wherein files can be accessed within seconds and viewed via stream by translators from any browser-based device, anywhere in the world and at any time without the need for any files to be fully downloaded – this delivers significant security advantages as well as time and budget savings. As Blackbird is cloud-based there are no start-up costs as all the infrastructure is already in place.

Content localization involving the preparation of TV, movie and video titles ready for global distribution is a rapidly growing business. Spending on these services in Europe, Middle East, and Africa alone is currently $2b annually with up to 10% year on year growth expected.

Forbidden CEO, Ian McDonough said: “We looked at the localization vertical and knew we could add efficiency and security to this growing market. We are extremely excited to have VJA join a great roster of other important Blackbird customers and partners around the world as we expand our international footprint.”

VJA CEO, Von Johnson said: “We have been using SpeedySuite, the first cloud-based solution that manages suppliers, workflows, tasks, and assets for the localization supply chain and all the nuances associated with working with multiple foreign languages for dubbing, subtitling and accessibility services. Incorporating the Blackbird platform and codec was seamless and has increased capacity and product throughput whilst reducing time to complete production cycles in the demanding needs of localization, even more critically important as more content is being streamed. Using the combination of SpeedySuite and adding the Blackbird cloud platform and codec, allows us to confidently tackle any project in the ever-changing world of media. Producers and distributors work in unique ways with unique requirements. After extensive testing and roadmap review, we are very pleased with the enhanced benefits, especially the speed and security that Blackbird brings to our current projects and into the future.”

Forbidden Technologies will be demonstrating Blackbird at IBC 2018 (Hall 1, C27) from 14th -18th September. For more information visit: www.blackbird.video/ibc

About Von Johnson & Associates

VJA is a boutique consultancy that provides technical and distribution services that include language dubbing, translations, and subtitling. The company works with the major Hollywood Studios, and also delivers on behalf of the studios and distributors, to major and emerging electronic distribution platforms.  First in the industry to use the Cloud-based facility management software system, SpeedySuite, which allows for complete collaboration and transparency with its customers.

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.

To find out more about the Blackbird Cloud Platform, contact commercial@blackbird.video or visit www.blackbird.video

Blackbird® is a registered trademark of Forbidden Technologies plc.

 

Successful completion of pilot with major North American media company

Forbidden Technologies plc (AIM: FBT) is pleased to announce that a pilot announced in July 2017 with a major North American broadcaster and sports rights holder has successfully completed.

During the period of the pilot Blackbird (formerly Forscene) provided producers and editors with a workflow and remote collaborative access to enable them to view and create clips prior to a final editing process.

The producers within the creative division of the Company will start using Blackbird Forte to view, edit and enrich the content of a major North American sports league.

Forbidden CEO, Ian McDonough says:

“We are excited to be taking this relationship to the next stage. I am delighted that the Blackbird pilot has been successful within the creative division. This is a small but crucial step to seeking wider adoption across the Company’s media infrastructure.”

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, eSports live events and content owners, 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

Successful completion of pilot with major North American media company

August 29, London – Forbidden Technologies plc (AIM: FBT) is pleased to announce that a pilot announced in July 2017 with a major North American broadcaster and sports rights holder has successfully completed.

During the period of the pilot Blackbird (formerly Forscene) provided producers and editors with a workflow and remote collaborative access to enable them to view and create clips prior to a final editing process.

The producers within the creative division of the Company will start using Blackbird Forte to view, edit and enrich the content of a major North American sports league.

 Forbidden CEO, Ian McDonough says:

“We are excited to be taking this relationship to the next stage. I am delighted that the Blackbird pilot has been successful within the creative division. This is a small but crucial step to seeking wider adoption across the Company’s media infrastructure.

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, eSports live events and content owners, 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 monetization.

Blackbird® is a registered trademark of Forbidden Technologies plc.

Media contact
mediarelations@forbidden.co.uk

Live sports editing solution

Leading US sports content production company extends Blackbird partnership with Forbidden

August 20, 2018, London – Forbidden Technologies plc, the developer and seller of Blackbird, the workstation experience in the cloud, has announced that a leading US sports content production company has extended its Blackbird partnership into a third year.

The award-winning industry leader in sports production and content development and distribution which is based at an iconic sports venue in New York, first deployed Blackbird in 2016. Blackbird is now a core part of the cloud video editing, enrichment and distribution infrastructure of 16 of the company’s sports channels, dramatically improving the time-to-market of digital content such as highlights and clips of popular sports games and events. Over 500 live games of 10 famous professional sports teams from the NFL, NHL, NBA and MLS are covered annually.

Blackbird has enabled the company to maximize its revenue opportunities through the rapid distribution of edited content to worldwide audiences across multiple online channels. The ground-breaking technology of Blackbird has also reduced the company’s reliance on physical hardware allowing staff to work remotely in the cloud from anywhere.

Forbidden CEO, Ian McDonough said: “Working with this client over these past two years has been a fantastic experience for the Blackbird team and I am delighted we are extending this partnership again. They are a trailblazing organization who have not only recognized the unique value of Blackbird but also helped us develop it further to expand into new areas of their workflows which even led to an Emmy Award nomination this year.”

 

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 which results in improved monetization of video content.

To find out more about Blackbird contact commercial@blackbird.video or visit www.blackbird.video

Blackbird® is a registered trademark of Forbidden Technologies plc.

TownNews.com and Blackbird expand together across the US

June 25, 2018, London – Forbidden Technologies plc has announced that TownNews.com has significantly expanded its partnership with Blackbird in the US market.

Blackbird Forte will be used extensively by one of TownNews.com’s major partners to deliver news content across multiple platforms to towns and cities in 11 states across the US. At the heart of the integration is Blackbird, believed by the Board to be the only codec specifically designed for manipulating video in the cloud.

Blackbird gives TownNews.com’s partner the freedom to rapidly access, navigate and manipulate content no matter their location. They can then deliver stories with unprecedented control using Blackbird Forte’s browser-based enrichment, editorial and publishing tools.

Forbidden has agreed a significant six-digit two-year deal with TownNews.com for the licensing of Blackbird for use in this media broadcast infrastructure.

TownNews.com provides over 1,700 newspaper, broadcast and magazine publications in the US with web, print, mobile and social media services and solutions. TownNews.com’s integration of Blackbird provides its customers with a powerful editing suite for rapid and remote manipulation of video content in the cloud.

Forbidden CEO, Ian McDonough says: “This expansion of Forbidden and TownNews.com’s partnership is a very exciting development for both companies. This rollout is the first true execution of Forbidden’s OEM strategy for Blackbird. Blackbird will be a key part of the infrastructure across US news channels in 11 states. This is a key step in taking Blackbird deployment to a whole new scale. Our recent fundraising allows us to execute and support partnerships of this size to a world class standard.”

TownNews.com CEO, Brad Ward says: “Blackbird Forte gives our customers powerful cloud-based video editing capabilities that they can’t get anywhere else. We look forward to continuing to expand our relationship with Forbidden Technologies for a long time to come.”

About TownNews.com

TownNews.com was founded as the International Newspaper Network (I.N.N.) in 1989 to help community newspapers with developing technology.

Today, their integrated digital publishing and content management solutions power some of the most distinguished media organizations in the industry. More than 1,700 newspaper, broadcast, magazine and web-native publications rely on them for their web, print, mobile and social media products.

Their complete solutions suite includes add-ons for data management, content exchange, over-the-top (OTT) video, business directory and more, helping to boost revenue, improve efficiency and grow audiences. Lee Enterprises (NYSE: LEE) of Davenport, Iowa, became majority partner in 1996. They are headquartered in Moline, IL.

TownNews.com acquired Field59, creator of acclaimed video management and streaming solutions for media organizations, in April of 2018. Field59 have been a customer of Forbidden since 2008.

 

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 which results in improved monetisation of video content.

To find out more about Blackbird Forte and Blackbird Ascent contact commercial@blackbird.video or visit www.blackbird.video

Blackbird® is a registered trademark of Forbidden Technologies plc.

Media contact:
mediarelations@forbidden.co.uk