Investors: Press Release
Major Chinese Robot Mfg. Seeks Discussions With U.S. Mobile Robot Co.
CONYERS, Ga., March 26, 2009 /PRNewswire-FirstCall via COMTEX/ -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) announced today that a major, multi-million dollar Chinese robot manufacturer has extended an important invitation to GeckoSystems to meet with their senior management at their corporate headquarters in Eastern China.
Martin Spencer, President/CEO of GeckoSystems stated: "As all of us here at GeckoSystems are excited about this development, due to the nature of the upcoming discussions I feel it is in the best interest of all parties involved to withhold the name of the Chinese company at this time. The upcoming meeting and the potential outcome(s) of it is something that has been in the works for several years and is now coming to what looks to be an extraordinarily profitable culmination. I believe their interest in us is due to not only our flagship product, the automatic self navigation software, GeckoNav, but also the reality that we have a complete multitasking personal robot, the CareBot, with verbal interaction capabilities, GeckoChat, and the ability to routinely follow a designated family member with GeckoTrak."
The Chinese have their own eldercare crisis due to their adult children with elderly parents working in the industrialized cities. Since they have at least 20,000,000 elderly living in these eldercare facilities, the cost benefits of GeckoSystems' suite of mobile robot technologies will generate multiple revenue streams for GeckoSystems in the form of licensing, royalties, training, and sales of various hardware systems and subsystems.
"During our upcoming discussions we will be making strategic decisions as to what they will be licensing and/or purchasing from us and what we will be purchasing from them and/or their qualified suppliers. We expect the synergies in our cooperation to result in distribution into the Chinese market and significant cost reductions in the systems and subsystems we will be importing from China. As one would expect, a more competitive cost structure will enable a better ROI for our stockholders," concluded Martin Spencer.
The GeckoSystems' business model is very much like that of an automobile manufacturer. Due to the final assembly, test, and shipping being done based on geographic and logistical realities, each business relationship can range from private labeling to joint manufacture and distribute to licensing only.