Convert the video clips from disc into MKV files.
Great product for what it does. Make sure you never download anything from this website though as the files often include spyware/malware. Not sure why. Always go direct to manufacturer site.Also, this cnet.com site blows. It doesn't work in chrome and is full of crappy reviews by people who don't follow instructions or expect "Trial" versions to be fully functional.
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Capture video stream from multiple webcams.
Play video and audio files in different formats.