Excerpt-Player app for iPhone and iPad

Excerpt-Player is a media player for iPad, iPhone and iPod touch with support for capturing (excerpting) being watched or listened video or audio content.
Captured media is saved as separate file and can be shared with friends, copied to other app or i-device (iMac, iPhone, etc.) over WiFi.
Currently player only supports playing and making excerpts for the following formats: mp4, mov, mp3, m4a, wav, ac3.
avi files can only be played, making excerpts is not supported for this format.
Excerpt-Player offers support for srt subtitles.
Support for new file formats and features will be gradually added in subsequent versions.