Investors: Press Release
GeckoSystems Begins Joint R&D With Japanese Robot Firm
CONYERS, GA--(Marketwire - October 29, 2010) - GeckoSystems Intl. Corp. (PINKSHEETS: GOSY) announced today that they are partnering with a Japanese robot firm, ifoo Co., Ltd., to jointly develop a low cost robot arm appropriate for mobile service robots and light industrial use.
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 very pleased to announce our R&D collaboration with ifoo. We have worked for over ten years to find a Japanese partner with sufficient interest to secure appropriate legal and enforceable protection, not only in the U.S., but also in Japan, to enable us to fully disclose our Company Confidential trade secrets to them. We give full credit to Mr. Hajime Yasumatsu's (Chairman, Yasu, Inc.) tenacity and hard work in achieving this noteworthy milestone," observed Martin Spencer, President/CEO, GeckoSystems Intl. Corp.
"As we stated in mid-September, not only does ifoo have interest in marketing a commercial security robot in Japan fundamentally based on GeckoSystems' suite of proprietary technologies, they are also very interested in jointly developing a low cost four Degree of Freedom (DOF) robot arm suitable for not only mobile service robots, but also for light industrial use. The CareBot will have two arms, one on each shoulder. The light industrial robot market may be very large in and of itself. We will use our core competencies in software development to reduce the mechanical costs of this new arm.
"I believe their interest in us is due to not only our advanced GeckoSavant™ architecture, but also the reality that we have a complete multitasking personal assistant robot, the CareBot. We continue to expect technology-licensing revenues, primarily software, to precede revenues from product manufacturing and sales. Now ifoo and GeckoSystems are collaborating on the development of a four DOF low cost robot arm. With the internationally enforceable NDA now in place, GeckoSystems can prudently provide those Company Confidential design concepts and specifications to ifoo and still retain all the Company's patent opportunities.
"Further, ifoo is in discussions with a significant Japanese customer requiring several hundred commercial security mobile robots. GeckoSystems has already provided conceptual specifications and artist's concept drawings to support that sales and marketing activity by ifoo.
"The cost saving 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. I expect the synergies revealed in our confidential discussions with ifoo to result in distribution into the Japanese market and to enable significant cost reductions in our systems and subsystems that we import from Japan, such as this to be developed low cost robot arm. As one would expect, licensing revenues and a more competitive cost structure will increase shareholder value and ROI for our approximately 1400 stockholders," concluded Spencer.
About Yasu, Inc.:
Yasu is a U.S. corporation domiciled in Missouri that provides professional services including business development support, networking events, extensive market intelligence, access to bilingual Japanese businesses, and English to Japanese translation of sales and technical information.