Flash Video player subtitles [closed]

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I want to insert subtitles in youtube flash movies. As I can see, there is a site that can do this. http://www.overstream.net/ is the site and I am wondering how I can do this?

If I make a flash player ang give it the url of a youtube video, it can play it?

How can I do this?

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The following will help you build a Flash application that will play Youtube videos:

http://code.google.com/apis/youtube/flash_api_reference.html

Once you built that, simply add subtitles on top of that with delays in time with the video.