21/03/2002
Bulletin board favourite Forbidden Technologies continues to keep a tight rein on its cash. During the year to December the company, which is developing video compression and streaming technologies for use on websites, saw its cash pile reduce by only £290,000, leaving just over £3m in the bank. Losses stretched to £250,654 (£115,218), while a modest £2,672 of revenue was generated thanks to maiden technology sales. Chairman Vic Steel hopes that Forbidden 'will achieve a growing revenue stream...during the coming year'. Worryingly, however, the area of internet-based video distribution has become increasingly competitive of late. Hewlett Packard and Nokia have both made their intentions clear, while several smaller firms claim to have similar technologies up and running. Add to this the fact that chief executive Stephen Streater owns 85% of Forbidden, meaning that the shares are liable to surge - or fall - on relatively low volume trades, and you have a company that is by no means one for the faint-hearted.
| Market cap: | £39m |
| PE Forecast: | n/a |
| Share price: | 52.5p |
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