Investors: Press Release
GeckoSystems' CEO Updates Stockholders on Progress Due to Elder Care Robot Trials
CONYERS, Ga., May 18, 2010 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) CEO reported today that they are very pleased with the insights and progress resulting from their ongoing elder care robot trials. They initiated these world's first personal companion robot trials late last fall focused on assisting families caring for their elderly parents.
GeckoSystems is a dynamic leader in the emerging Mobile Service Robot (MSR) industry revolutionizing their development and usage with their "Mobile Robot Solutions for Safety, Security, and Service".
"It pleases me to report that to date we have not encountered any fundamental flaws or deficiencies in any of our suite of enabling technologies such as GeckoNav, GeckoChat, or GeckoTrak. Our proprietary solutions that have allowed us to have these ongoing elder care robot trials remain sound and robust in real world, "race day" usage.
"We continue to make good progress in identifying and securing solid quotes from several contract manufacturers to build and ship our CareBots. In addition to Sparton, we have solicited two other contract manufacturers to build one of our key inventions, the GeckoSPIO robot controller board. We have identified still another contract manufacturer with the appropriate skill sets to fabricate the GeckoFrames needed and to perform final assembly, test and ship. We expect to visit their facility early this summer.
"The pent up demand for cost effective elder care has us solicited routinely by caregivers desiring to purchase a CareBot for their family care needs. They want to know how much and when. As I have told many investors, the funds needed to finance raw materials, work-in-process, finished goods, and accounts receivable for only one hundred CareBots is well over a three quarters of a million dollars, excluding GeckoSystems fixed overhead, marketing expenses, etc. We are pursuing and actively engaged in several different seven-figure fund raising scenarios.
"Our Japanese representative, Hajime Yasumatsu, updates us one to two times a week on the status of his discussions with an increasing number of interested Japanese robot companies. The president of Tmsuk recently invited us to visit their lab in Japan such that we may discuss the offer we made them to jointly develop a four degree of freedom arm for upgrading the CareBot to be also physically utilitarian in addition to sensory utilitarian. We would also discuss their interest in the localization of the CareBot for the Japanese marketplace. Marubeni Information Systems is their marketing partner.
"Due to the ongoing naked shorting of our stock and its consequently depressed price, we have only been able to secure funding to hire but a few engineers and programmers since the first of the year. Nonetheless they have successfully redesigned and cost reduced the GeckoSPIO, rewrote the GeckoScheduler, and significantly augmented the GeckoSuper. As a result of these improvements to our biological hierarchical mobile service robot architecture, we are now adding more sensors to our CareBot to enable faster ambulation about the home for more proximate, faster following and monitoring of the care receiver. One may note this need on the videos posted on our website and YouTube.com.
"All in all I am very gratified that while we suffer the Great Recession as most small businesses continue to do, we have hired more people, achieved demonstrable results from their employment and produced the first of many videos to come depicting the reality of what I set out to do in the fall of 1966 when I enrolled as an electrical engineering student (at the University of Missouri-Rolla) to "do robots." Since earning my MBA in 1987 coupled with over thirty years in sales and marketing, I remain very committed to succeeding in my lifelong dream and rewarding our hundreds of small investors with the extraordinary ROI they deserve," reflected Martin Spencer, Founder/ President/CEO, GeckoSystems.