AGM Statement

RNS Number : 6414I

Forbidden Technologies PLC

17 June 2011

 



17.06.11

Forbidden Technologies plc

(AIM: FBT)

("Forbidden" or the "Company")

AGM Statement

The following statement was made at today's Annual General Meeting by Forbidden Technologies Chairman, Vic Steel.

"We have continued to establish the building blocks for our longer term global scale. As our shareholders are aware, our strategy is to focus on a limited number of channels to market, seeking partnerships with companies which have a deep knowledge and successful penetration of their markets.

In Broadcast Post Production, FORscene has become a recognised provider of the most advanced cloud based video platform available. In the UK we now have eleven major Facilities Houses which have signed up to offer FORscene to Production Companies. We are experiencing solid growth in this channel during the first six months of 2011.

Our partnerships with both Siemens and Ericsson are well established. FORscene is being included by them in a number of bids across different countries. These major projects with Systems Integrators have long lead times and we look forward to the results from this channel as our partners succeed in their bids.

In Professional Web Video, our partner BIM has added two further new TV stations in June and is now going live with a higher quality option for web video.

We have begun to expand our FORscene platform in the Consumer and Education markets. The introduction of the Android Clesh App has already resulted in some 600 signed up users. The app works on at least 50 types of devices from multiple manufacturers. The recent announcement of the integration of FORscene into the social media platform of Filemobile in North America takes us deeper into the media fields of Universities and Colleges.

We plan to begin our entry into the News Channel in the near future. FORscene in the cloud offers a robust, unique platform for remote news collection, upload, and local and centralised editing, with the ability to include library footage.

The Company continues to have a strong and liquid balance sheet. As we move forward towards a larger scale business, we are increasing our skilled resources in both R & D and commercial management in order to support more customers and to continue the dynamic development of the FORscene platform.

With continuing improvements to the Internet infrastructure, using the Cloud is becoming increasingly established as an efficient way to organise workflows. Forbidden's FORscene Cloud platform continues to deliver cost and time benefits for its end users in the professional world. Forbidden's release of mobile phone and tablet versions of the software allows users to access the platform from a wide range of devices, including desktop computers, laptops, tablets and mobile phones. The growing ability to use the platform from anywhere, at any time, on any device, is a major selling point."

-END-

For further information please visit www.forbidden.co.uk or contact:

Forbidden Technologies plc

Stephen Streater, CEO

Tel: [phone]

Brewin Dolphin

Neil Baldwin, Nominated Advisor

Tel: [phone]

Bishopsgate Communications

Deepali Schneider / Natalie Quinn

Tel: [phone]

 

END

 

 

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