Investors: Press Release
GeckoSystems in Final Negotiations
to License AI Mobile Robot Solutions
CONYERS, GA, May 16, 2013 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) has announced that final negotiations for licensing of their "Mobile Robot Solutions for Safety, Security and Service" are ongoing. This first joint venture and licensing agreement has been long sought by the management of GeckoSystems as irrefutable proof of the benefit and "value proposition" of their many years of R&D, testing, and marketing.
This party understands the breadth of the Mobile Service Robots (MSR's) market and is motivated to
establish itself as the dominant regional developer, manufacturer, and marketer. In addition, the
prospective licensee has expressed intent to develop and market GeckoSystems' numerous product
concepts such as the ChairBot, SecurityBot, GeckoNED, and GeckoSuperSentinel.
"Over the last several years, we have entered into dozens of non-disclosure agreements and many Memorandums Of Understanding (MOU's), all in good faith, but for various reasons we have been unable to finalize a licensing agreement and initiate the technology transfers to enable production. Due to the sincerity of this party's interest and the depth of their business acumen, I am the most confident I have ever been that we will soon be announcing a 'done deal' and realizing our first licensing revenues before the end of our fiscal year," reflected Martin Spencer, President/CEO, GeckoSystems Intl. Corp. GeckoSystems' AI mobile robot solutions are unique in that they are portable and extensible, enabling ready migration and usage to a large number of MSR applications and marketplaces. Using GeckoSystems' proprietary technology, licensees are able to develop new products quickly and with reduced R&D cost, giving them a competitive edge that is "fast to market" when entering new markets. In addition, GeckoSystems' robust hardware and software architecture makes applications based on their technology "obsolescence proof" because new technology and/or cost reduction can be integrated on a modular basis as it develops.
"While we remain focused on our Pacific Rim business development activities, we now have new, ongoing discussions in several EU and Mediterranean countries. These discussions are primarily in the areas of commercial security and professional healthcare. We generally get favorable reactions and heightened interest due to our willingness to share risk in the proposed joint ventures," commented Spencer.
In 2010 the AI navigation software developed for and used on the CareBot® was migrated and with limited, additional R&D the company was able to create the SafePath® "collision free" power wheelchair upgrade. This migration proved the extensible and portable nature of GeckoSystems' AI mobile robot architecture and its ability to accelerate development of additional MSR applications. This is why GeckoSystems is gaining worldwide recognition in the robotics field. Research and Markets recently identified GeckoSystems as one of eight "key market players" along side Honda, iRobot, Sony, Toyota, and others. The company is delighted to receive this global recognition.
Link to Research and Markets Report
GeckoSystems' Japanese associate, ZMP has graciously hosted several demonstrations of the company's technologies in their office in Tokyo using the BaseBot® that was shipped to them a year ago. The BaseBot® demonstrates SafePath®, the world's first and only AI navigation system capable of "sense and avoid" of not only stationary obstacles, but also dynamic obstacles, while seeking the user's desired destination.
ZMP's evaluation of the BaseBot® was very favorable. ZMP of Japan, a long established vendor of robotic research platforms, has confirmed that the navigation system used in the BaseBot (and hence CareBot, etc.) is "sophisticated" and "fully developed."
Due to these recent demonstrations, GeckoSystems is in ongoing discussions concerning joint ventures and/or licensing of their proprietary technologies to develop products in the security and healthcare sectors in China, Japan, Taiwan, and the EU and one Mediterranean country. There are world wide demographic changes that are expanding opportunities in the health care market globally, but in the Pacific Rim, EU and Mediterranean, the need is urgent and GeckoSystems complete suite of mobile robot solutions offers a distinct competitive advantage because of being "fast to market."
In March of 2015 the Japanese national health care plan will begin to cover robotic personal assistance applications at a rate of 90%. Because of the demographic issues outlined in the report below a CareBot® type personal robot designed to help people live independently in their own home as long as possible will be in high demand. GeckoSystems believes that no economically viable solution can be developed for this market by that March 2015 date without using their technology.
Asia One Article on Japanese Subsidies for Robotics Development
"We continue to be very pleased with the hard work and demonstrable progress made by our associates, Mssrs. Hajime Yasumatsu and Katsuji Fujii, in locating, qualifying and presenting to interested Asian businesses that could benefit from our technology. Recently we have had increased activity and serious discussions in the EU and Mediterranean markets. Due to the sensitivity and delicacy of these ongoing and upcoming joint venture discussions, it would be imprudent for us to reveal additional details at this time. I remain personally grateful for our 1300+ stockholders' loyal support and look forward to their being rewarded with a satisfying ROI," concluded Spencer.
GeckoSystems has been developing innovative robotic technologies for fifteen years. It is CEO Martin Spencer's dream to make people's lives better through robotic technology.
An overview of GeckoSystems' progress containing over 700 pictures and 120 videos can be found at http://www.geckosystems.com/timeline/..
These videos illustrate the development of the technology that makes GeckoSystems a world leader in Service Robotics development. Early CareBot prototypes were slower and frequently pivoted in order to avoid a static or dynamic obstacle; later prototypes avoided obstacles without pivoting. Current CareBots avoid obstacles with a graceful "bicycle smooth" motion. The latest videos also depict the CareBot's ability to automatically go faster or slower depending on the amount of clutter (number of obstacles) within its field of view. This is especially important when avoiding moving obstacles in "loose crowd " situations like a mall or an exhibit area.
In addition to the timeline videos, GeckoSystems has numerous YouTube videos. The most popular of which are the ones showing room-to-room automatic self-navigation of the CareBot through narrow doorways and a hallway of an old 1954 home. You will see the CareBot slow down when going through the doorways because of their narrow width and then speed up as it goes across the relatively open kitchen area. There are also videos of the SafePath wheelchair, which is a migration of the CareBot AI centric navigation system to a standard power wheelchair, and recently developed cost effective depth cameras were used in this recent configuration. SafePath navigation is now available to OEM licensees and these videos show the versatility of GeckoSystems' fully autonomous navigation solution.
GeckoSystems, Star Wars Technology
The company has successfully completed an Alpha trial of its CareBot personal assistance robot for the elderly. It was tested in a home care setting and received enthusiastic support from both caregivers and care receivers. The company believes that the CareBot will increase the safety and well being of its elderly charges while decreasing stress on the caregiver and the family.
GeckoSystems is preparing for Beta testing of the CareBot prior to full-scale production and marketing. CareBot has recently incorporated Microsoft Kinect depth cameras that result in a significant cost reduction.
Kinect Enabled Personal Robot video:
Above, the CareBot demonstrates static and dynamic obstacle avoidance as it backs in and out of a narrow and cluttered alley. There is no joystick control or programmed path; movements are smoother that those achieved using a joystick control. GeckoNav creates three low levels of obstacle avoidance: reactive, proactive, and contemplative. Subsumptive AI behavior within GeckoNav enables the CareBot to reach its target destination after engaging in obstacle avoidance.
More information on the CareBot personal assistance robot:
GeckoSystems stock is quoted in the U.S. over-the-counter (OTC) markets under the ticker symbol GOSY.
Here is a stock message board devoted to GOSY recommended by us:
GeckoSystems uses http://www.LinkedIn.com as its primary social media site for investor updates. Here is CEO Spencer's LinkedIn.com profile:
GeckoSystems stock is quoted in the U.S. over-the-counter (OTC) markets, on the Pink OTC Current Information tier, under the ticker symbol GOSY.
Main number: 1-866-CAREBOT (227-3268)
International: +1 678-413-9236
Fax: +1 678-413-9247
Source: GeckoSystems Intl. Corp.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
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