Investors: Press Release
Common Stock Quoted on Pink Sheets Curent Informaton Tier
CONYERS, Ga., Aug. 23, 2010 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -GeckoSystems Intl. Corp. (Pink Sheets: GCKO) announced today that its stock is now quoted in the U.S. over-the-counter (OTC) markets, on the Pink Sheets "Current Information" tier, under the ticker symbol GCKO. GeckoSystems is a dynamic leader in the emerging mobile robotics industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service™.
As a result of having its securities available for trading on the OTC market, GeckoSystems is able to offer its shareholders ease of trading through regulated broker-dealers, while providing transparency to its investors, business partners, and customers.
"By making more company information publicly available as to stock structure, beneficial owners, etc, GeckoSystems is attempting to foster an efficient secondary trading market and provide greater understanding of our business model for investors, advisors, and regulators in the OTC market," said Martin Spencer, President/CEO, GeckoSystems. "We hope that our meeting the Current Information guidelines will allow us to better satisfy the needs of our stakeholders, by providing high quality disclosure to investors via Pink Sheets."
The term "OTC securities" is a catchall phrase for any equity security that is not listed on a U.S. stock exchange. The OTCQX and Pink Sheets marketplaces constitute, by dollar volume, the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. (NASDAQ) and The New York Stock Exchange (NYSE).
In the last four years GeckoSystems secured its trading symbol, GCKO, by satisfying FINRA's 15c2-11 requirements. Subsequently GeckoSystems became DTC eligible and a DRS participant to further enhance stockholder liquidity and value. Now GeckoSystems has satisfied Pinksheets requirements to be designated: Current Information.
Due to the need for equity financing for high growth firms, GeckoSystems has worked for over ten years to become fully reporting as soon as financially viable. In fact, the Company has been successfully audited twice, for two year periods each, and found to be fully compliant under thorough outside financial audits prepared by SEC certified CPA firms with the Financial Accounting Standards Board's (FASB's) generally accepted accounting principles (GAAP).
"Due to the level of risk inherent in high tech, emerging market Development Stage firms such as ours, especially during this Great Recession, we understand clearly that only equity (not debt) instruments can provide sufficient return on investment (ROI) for investors to assume the risk of purchasing any high tech, emerging market stock such as GCKO stock. Hence our long time efforts in this regard, and determination to continue our move upward to not only a more pronounced domestic stock exchange, but also those with international reach, such as OTCQX," observed Spencer.
GeckoSystems received their Pink Sheet trading symbol, GCKO, from FINRA as a result of satisfying all their due diligence requirements from the filing of a Form 15c2-11. The Company has no unaccounted for, or otherwise missing, shares outstanding and issued. "We worked for nearly a year in preparing our initial 15c2-11 submission to, and addressing the comments of, FINRA prior to their issuance of our trading symbol, GCKO. We received our trading symbol, GCKO, from FINRA in September of 2007. In order to enable electronic trading we became DTC eligible in January of 2008. As a DRS Participant, the ability to trade GCKO stock electronically is even more streamlined, efficient, transparent, and reliable," stated Spencer.ems.
Some believe that the technology is approved and paid for through options such as the Assistive Technology Act of 1998, which broadens the definition, use, and funding of technology at home. Other sources include long-term care insurance, Medicare and Medicaid, Medicaid waivers, and (potentially) stimulus funds from the American Recovery and Reinvestment Act of 2009, under the provisions for health information technology and electronic medical records for acute care.
DRS provides for the electronic direct registration of securities in an investor's name on the books of the transfer agent or issuer. It allows shares to be transferred between a transfer agent and a broker electronically through the industry's DRS Profile Systems. Historically, investors hold their shares either in "street name" with their broker, or they are "registered shareholders" and have a certificate. Consequently, the Company is in a position, as a DRS participant, to readily identify those parties engaging in "naked short selling" of GCKO stock.
Mr. Spencer received his Masters in Business Administration from the J. Mack Robinson College of Business, Georgia State University, Atlanta, Georgia, in 1987. Consequently he is formally trained and educated for the professional management of publicly traded domestic and international corporations. (See J. Mack Robinson College of Business for more information.)
"We are very pleased to be able to offer our stockholders this new, heightened level of corporate transparency and greater ease in their transfers of their GCKO holdings trading in the Pink Sheets in the Current Information tier. We regret that due to our SEC attorney being on vacation all of July, we were unable to secure the necessary attorney opinion letter to achieve Current Information status in a more timely manner.
"We wish to assure our stockholders that this greater efficiency in the marketplace for our stock will further enhance the value and liquidity of GCKO stock and increase the ROI for them as we continue in our efforts to move upward to more pronounced domestic and international stock exchanges," reflected Spencer.