Investors: Press Release
GeckoSystems Improves Its Mobile Robot Sensor Fusion Technology
CONYERS, Ga., Oct. 20, 2010 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -- announced today that they have improved the performance of their proprietary machine vision system, the CompoundedSensorArray™, while lowering its manufacturing costs. 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™."
"Traditional video centric machine vision systems are very expensive in dollars, power consumed, and time required to provide new data. Taking a clue from compound insect eyes in nature, we invented the CompoundedSensorArray which 'creates' two hundred and fifty facets by scanning ten infrared range (IR) finders over twenty-five positions in approximately 1.5 seconds. We fuse this 180 degree Field of View (FOV) with fixed position, long range sonar and IR range finders to give greater range and reliability to our sensor fused, machine vision system for locating stationary and/or dynamic obstacles quickly and at low dollar cost," observed Martin Spencer, President/CEO, GeckoSystems.
The CSA machine vision system also includes a high speed, precision stepping motor, its control electronics, and the software to correctly assemble the CSA's distance ranging data into an abstracted image for use by their automatic, self-navigation software, GeckoNav™.
"The amount of data that the CompoundSensorArray provides is far greater then what can reasonably be collected with fixed sensors and at a much lower cost than scanning laser range finding systems frequently used," stated Kevin O'Connor, Sr. EE Roboticist, Research and Development, GeckoSystems.
"This low cost CSA sensor fusion system not only provides timely and actionable situation awareness information sufficient for our AI navigation software, GeckoNav, but also satisfies these requirements at a lower cost, in both dollars and power.
"Over the past months we have distributed numerous press releases discussing our proprietary hardware and software technologies, such as GeckoMotorController™, the CompoundedSensorArray™, GeckoOrient™, GeckoTactile™, GeckoSPIO™, GeckoNav™ GeckoChat™, GeckoScheduler™, GeckoSuper™, etc. Each of our mobile robot solutions has one or more probable patents for them. We expect to raise many barriers to entry --sustainable competitive advantages-- by allocating budget for this patent work as we become better funded. Each patent costs approximately $25,000 and takes one to three years to effectuate. Provisional patents cost much less, but require application for formal patenting within one year of obtaining the provisional patent.
"Further, there seems to be some incomplete analyses of our financials. While we have incurred over $7,442,114 in losses since our founding over thirteen years ago, only $1,273,256 (or $97,943 average per year) has been cash from the proceeds of the issuance of common stock. All common stock, per SEC regulations, has been issued 'legended' under Rule 144 requirements. Hence, $6,168,858 was paid for services rendered to many engineers, programmers, consultants, etc. with restricted GCKO shares for services rendered. Obviously, we have not had budget to date to secure the patents we will seek. Nonetheless, we have held our many inventions Company Confidential and still have those patent opportunities available to us.
"While we regret we do not presently have the plethora of patents in place that we feel confident we have available to us, as a casual observer can see, we have demonstrably maximized the efficient utilization of all financial resources available to us. Some say we truly 'beat pennies into battleships' given our suite of sufficient mobile robot solutions and 'first mover' opportunity in this emerging trillion dollar marketplace.
"We are truly grateful to all of those technologists and business consultants that have assisted GeckoSystems for these many years and taken restricted GCKO stock for their hard work and services rendered. We are hopeful they will be rewarded greater than their expectations for their creativity and tenacity in solving engineering and software challenges that have baffled the majority of our competitors and many very prestigious research universities in the U.S. and abroad.
"Our on going world's first in home elder care robot trials have garnered many inquiries for us regarding our business model, technologies available for licensing, and interest in joint domestic and international ventures. We continue to expect technology-licensing revenues to precede revenues from product manufacturing and sales and have two or three in active discussions. This augurs well for increased ROI and shareholder value for our nearly 1400 investors," summarized Spencer.