The mic flag uses three mini OLED screens better known as "Video Name Tags" by their manufacturer, the Recom Group. According to the product's web site, the device features 2GB of onboard memory, making it possible to store two hours of video on the device, or hundreds of still images, and run for 6-10 hours before needing to be recharged. Multiple playlists can be configured, making them useful in a broadcast news environment where stations may produce newscasts for two different stations.
This all comes at a price though, just one of these mic flags will set you back $598. In addition, the device looks rather clunky in it's current form, and the screens appear to sometimes lose sync of each other (though this may be intentional on the video). Though if the concept takes off, these issues could all be easily fixed in a future version.