New Forbidden Territory

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The changes and additions to the Forbidden Technology (LSE:FBT)  Board are aimed at increasing the focus on commercialising  its leading edge cloud video technology; Forscene and  its  recently launched video social network ‘eva’. As a  result of a strategic review Forbidden is seeking to  broaden the customer base for its world-leading cloud video platform  both for the commercial and consumer market.

The newly appointed Jim Irving,  had a global role for the commercial development of deltatre Media,  a sports marketing group with 29 years of experience at the highest levels of international sports.

Forscene is the  professional video editing software division  and  upgraded products were launched that should  extended its utility and increase the average contract size of its  mainly sports broadcast clients. In addition, it is looking to address the larger professional market for its cloud video post-production platform. A new product, Media Asset Manager includes a range of features that can be controlled by the user which develops the revenue model with an ’all you can eat’ licensing option. The R&D is completed and paid for and clearly increased sales of Forscene will add value  and Jim’s appointment could clearly help open commercials opportunities.

The consumer market is being developed  with eva which is its  free cloud -video social  network and Captevate  the ‘easi’  consumer video editor, which has a pay-as-you-go revenue model.  A last technical hurdle was jumped in August when a new  video codec  was announced that allows the efficient compression and decompression  of video.  The eva, video social network was launched in July  and  Captevate is to be launched later this year.  These are complementary  services  as the more eva grows the bigger the market  becomes for  Captevate.  The services are aimed at the vast number of people that use phones to take videos.  The free to use eva allows  the video to be  uploaded  into the network and so free up  phone space. Captevate can edit the video  simply with a ‘ cut and paste’  click and drop action with the ability to add sound, captions and other ‘fun’ features.

The share price has yet to recover from the poor interims to 30th June , but we anticipate  a stronger second half for Forscene. Any report on the number of eva users would also be a indication of the speed to revenue  of the complementary Captevate.


Net cash was around £2.8m at the interim’s and assuming no reduction in burn rate it should be  sufficient for nine months or so.

Trading Strategy

Newsflow should increase as the new consumer  video network gains traction in what is a potentially an exciting  market.


Forbidden Technology (LSE:FBT)

4.75p (4.5p-5.5p)

Mkt Cap: £6.6m

Next Results: Finals to December



Last OMG! Price 6.4p

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