You could create a movie on the iPhone before, but you could never really make a movie. i4software wants to remedy that.

At Macworld iWorld today, the company announced their new cleverly titled Video Camera app. It aims to simplify the process of shooting, editing and sharing video by combining all three processes into a single application.

But wait, there’s more! Video Camera’s built-in networking capabilities, so graciously provided by the iPod that it’s running off of, let groups of people share the video recording experience together in real time.

“I always enjoyed making movies, but while shooting was quick, editing became time consuming,” software architect Michael Zaletel, i4software’s CEO, and Video Camera’s creator, said. “The concept of combining acquisition and editing is revolutionary.”

The app sells itself on being easy and powerful. It works with the front and back cameras of recent iPhones, but it reportedly works on the 3GS model as well! The app’s live editing tool allows users to add, rearrange, trim and delete clips as they see fit. As you choose and trim clips, the app creates a timeline where you can refine, reorder and add transitions to your creation. You’ll be the next Steven Spielberg in no time!

The app works with the iPhone 4 and 4S, fourth generation iPod touch and iPad 2. It lets you shoot video in 1080p, 720p and standard definition, or as my friends like to call it, 360p.

Triple tapping the the screen offers more experienced users the ability to control exposure, focus and white balance. The app also has full zoom control.

The app also includes the convenient features found in every other video editing program such as intros, background music and transition choices. You can now shoot a skateboarding video set to Drowning Pool’s classic rock hit “Bodies” on your iPhone.

With Video Camera, you can also use a range of actual cameras using the iPad Camera Connection Kit. The list of supported cameras include GoPro Hero, Panasonic GH1 or GH2 and more.

When you’re done filming your masterpiece worthy of an oscar, you can upload it to Facebook, YouTube, and Vimeo in two resolutions.

Video Camera remote camera feature takes the concept of movie-making as a social experience and turns it into reality. Groups of up to eight shooters can simultaneously record an event from different angles and combine the scenes into a single masterpiece worthy of Tommy Wiseau.

The current group shooting functionality requires all the phone to be on the same Wi-Fi network, but soon the developer will tap into 3G networks via a secure server to deliver worldwide simultaneous shooting. Finally, my dream of shooting a 1930s crime mystery thriller that suddenly cuts to live footage of a giraffe grazing on the savanna will become a reality.

Video Camera is now available on the iTunes store for the low price of $8.