Investors: Press Release
GeckoSystems and Dell Subsidiary Sign Agreement to Expand Elder Care Robot Trials
CONYERS, Ga., Sept. 7, 2010 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -- announced today that they have successfully negotiated a Memorandum of Understanding (MOU) with a wholly owned contract manufacturing subsidiary of Dell, TriFusion LP. 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™."
"We are pleased to announce the signing of this foundation agreement, an MOU in which TriFusion's management commits to sincere efforts in assisting us in meeting our sales goals. While the difficulty in developing cost effective, truly utilitarian mobile robot solutions is 85-90% software R&D, the cost drivers for manufacturing are the mechanical systems, the electronics, and their final assembly into a complete mobile service robot (MSR)," remarked Martin Spencer, President/CEO, GeckoSystems.
TriFusion's approach to bridging the common gap in contract manufacturing services was the fusing of services, technology and logistics to provide an end-to-end solution. Their end-to-end solutions are built on defined and repeatable processes and caped with a web-based tool that provides real-time status of a project 24/7.
GeckoSystems and TriFusion have also executed a five-year, bilateral, binding arbitration non-disclosure agreement (NDA). A similar NDA was executed with Dell some years ago.
"Even though Commercial Off The Shelf (COTS) electronics, electro mechanicals, and mechanical subsystems are used extensively, an experienced, skilled and professionally managed contract manufacturer must be identified, and partnered with in order to hold total direct manufacturing costs to the lowest possible level. Additionally the contract manufacturer must have the strategic resources that will enable them to scale production up rapidly in the event that the anticipated hyper growth occurs due to pent up demand.
"We are pleased to report that we have found these capabilities and qualities in TriFusion and look forward to our developing relationship as we continue to progress in the expansion of our elder care robot trials. Dell has reassured us on several occasions as to the solidarity of their support of TriFusion. This is very important since it is TriFusion's intimate relationship, and Dell's confirmation of that relationship, that should enable GeckoSystems to benefit from Dell's existing, high volume, low cost computer systems' manufacturing infrastructure to better prepare for our anticipated hyper growth from pent up demand.
"As an illustration of their close, working relationship, at one point recently, Dell requested that they do all billing to GeckoSystems on TriFusion's behalf.
"We have several, very sensitive discussions occurring at this time with other notable potential suppliers and customers, both in the US and Japan. Despite having non-disclosure agreements (NDA's) in place with a number of them, we expect to identify more demonstrable progress --if not outright successes-- in the near term.
"Since beginning these world's first trials, we have learned that valued family behaviors can be readily expressed to the care receiver using a CareBot due to the robustness of its functionality. There seems to be a very important positive --and unforeseen by some parties-- impact of valued family behaviors for all members in using a CareBot to communicate their thoughts and feelings to their beloved family members," commented Spencer.
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.
The elderly frequently endure loneliness and/or loss of independence when living in nursing homes or other assisted living facilities. This new type of remote medical monitoring system, a CareBot, will postpone, if not eliminate that trauma to them. Their families can now better manage the difficult decisions regarding the independence they allow their now dependent parent while enabling the caregiver to hold their risk at a tolerable and acceptable level.
"Since late last year, we have been conducting these world's first elder care robot trials. We have learned a great deal about expected and unexpected human to machine interactions in an elder care setting. Our expectations of anticipated benefits have been, in some instances, much more gratifying than we believed prior to initiating these trials. Consequently our conviction as to there being extraordinary pent up demand for personal assistance robots, like our CareBot, bode well for the ROI that our nearly 1400 investors expect and deserve," concluded Spencer.