CONYERS, Ga., Jan. 11, 2012 /PRNewswire/ -- GeckoSystems
Intl. Corp. (Pink Sheets: GOSY) (http://www.geckosystems.com/) has
released their CEO's shareholder update summarizing the events of
2011 and the company's expectations for the future. The update
includes information on Market Initiatives, Research and
Development (R&D) progress, a reduction of Company debt, and a
restructuring of GOSY stock that significantly reduces the number
of shares outstanding.
R&D Highlights:
The CareBot™ has become more robust in application
while overall manufacturing costs have been reduced.
Migrated the CareBot's navigation system to guide power
wheelchairs, opening many additional markets to the company's
software.
GeckoVerify™ and GeckoConfigEditor™
were created to assist in migration of GeckoSystems software to
existing products not originally designed for robotic control.
Marketing Initiatives:
The CyberMobile™ Chair, or ChairBot™
concept drew strong interest in Japan and China, resulting in a collaboration agreement
with ZMP of Japan (a premier
robotic research company).
A joint venture to produce a 21st century wheelchair in
the People's Republic of China is
being finalized with production expected to begin in May.
GeckoSystems will have an equity interest in the joint venture and
an ongoing revenue stream.
The company has already received interest in distribution rights
for the JV wheelchairs in the US and Japan.
Marketing personnel hired and additional sources of revenue in
the EU and the Pacific Rim are
being explored.
Financial and Equity Reorganization:
Debt was reduced by 30%. The Spencers engaged in stock
transactions that reduced debt and increased shareholder value.
Issued and outstanding shares were reduced by 25% (in addition
to a 2010 reduction of over 30%) and improved the share structure
of the company.
Goals and Expectations for 2012
Expansion of software extensions and technical refinement for
the CareBot prior to planned Beta testing.
A continued focus on sales and marketing of outside applications
of software developed for the CareBot.
Sustained marketing efforts worldwide.
Establishment of a regular stream of income from licensing and
joint venture revenues.
"We are entering 2012 with the brightest prospects since our
founding over fourteen years ago. Our suite of 'mobile robot
solutions for safety, security, and service™,' are
being met with new and and demonstrated interest both domestically
and internationally. With our newly expanded marketing department
we expect to continue to develop our JV licensing with the
probability for cash flows in the first or second quarter of this
year. Most of our technologies are mature and ready for additional
JV applications. I am personally appreciative of the loyalty and
support of our hundreds of stockholders," summarized Martin Spencer, President/CEO, GeckoSystems.
Letter to stockholders:
http://www.geckosystems.com/investors/2011_Year_End_Msg.pdf
About GeckoSystems:
GeckoSystems has been developing innovative robotic technology
for over fourteen years. It is CEO Martin Spencer's dream to make people's lives
better through robotic technology, with a focus on Mobile Service
Robots (MSRs). The MSR market is just coming of age.
There are many subgroups of service robots, personal assistance
robots, professional assistance robots, social assistance robots,
healthcare robots and care giving robots. Many of the robotic
platforms now on the market are classified as "software ready" but
they do not have integrated software and mechanical systems.
GeckoSystems has developed the CareBot hardware and software in
tandem for a specific application, the CareBot elder care
robot.
In just this last year the market for Mobile Service Robots has
started to expand. GeckoSystems received a request from Imasen,
Japan's oldest wheelchair maker,
to migrate the CareBot's navigation system to their power
wheelchair. As a result of this GeckoSystems created
the "Collision Proof Wheelchair" with CyberMobilitya. The
company expects their "collision proof" wheelchair and an upgrade
for existing wheelchairs will be the first product of this sort to
be marketed.
The CareBot has completed Alpha trials, which showed that
families readily accepted the unit along with their elderly loved
ones. It was tested in a home care setting and received
enthusiastic support from both caregivers and care receivers. The
company believes that the CareBot will enhance the safety and well
being of its elderly charges while decreasing stress on the
caregiver and the family.
The company believes that the CareBot should be the first
product that is introduced to the retail market because of its very
strong return on investment potential for care giving families.
CareBot ROI, a Wise Family Decision
http://www.geckosystems.com/markets/CareBot_ROI.php
At this time, Gecko Systems is preparing for Beta testing of the
CareBot prior to full-scale production and marketing.
Kinect Enabled Personal Robot video:
http://www.youtube.com/watch?v=kn93BS44Das
Above, the CareBot demonstrates static and dynamic obstacle
avoidance and backs in and out of a narrow alley. There is no
joystick control or programmed path; movements are smoother that
those achieved using a joystick control. AI creates three low
levels of obstacle avoidance: reactive, proactive, and
contemplative. Subsumptive AI behavior enables the CareBot to reach
its target destination after engaging in obstacle avoidance.
One CareBot™ One Family
http://www.youtube.com/watch?v=xxK46chfP6A
GeckoSystems stock is quoted in the U.S. over-the-counter
(OTC) markets, on the Pink OTC Current Information tier, under the
ticker symbol GOSY.
Telephone:
Main number: 1-866-CAREBOT (227-3268)
International: +1 678-413-9236
Fax: +1 678-413-9247
Website: http://www.geckosystems.com
Safe Harbor:
Statements regarding financial matters in this press release
other than historical facts are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934, and as that term is
defined in the Private Securities Litigation Reform Act of 1995.
The Company intends that such statements about the Company's future
expectations, including future revenues and earnings, technology
efficacy and all other forward-looking statements be subject to the
Safe Harbors created thereby. The Company is a development stage
firm that continues to be dependent upon outside capital to sustain
its existence. Since these statements (future operational results
and sales) involve risks and uncertainties and are subject to
change at any time, the Company's actual results may differ
materially from expected results.
SOURCE GeckoSystems Intl. Corp.
