I don't know anything about either Late or Formant Recordings, but this two track 12" is quite a seducive one. With one track relatively straight in its structure, but very soft and melodic and another one slightly more dubstep-oriented but equally "dreamy", "Never Forigve / Dreams Are" is a charming and mild little record, which might not scare anybody off the room but builds pretty and catchy atmospheres. Something to check out.