Investors: Press Release
GeckoSystems to Improve Value of SoftBank's Pepper Robot with Dementia Software Winner, Fubright
CONYERS, Ga., July 22, 2015 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced today that the company has begun the transfer of its AI mobile robot software to Fubright Communications Co, Ltd. This is to facilitate the integration with their “Ninnin Pepper” dementia software in order to enable a higher level of safety and cost effective utility for SoftBank’s Pepper. To that end the company’s BaseBot(tm) “Lou” was delivered to Fubright this week for their exclusive use. The BaseBot utilizes the company’s core SafePath(tm) “AI Mobile Robot Solutions for Safety, Security and Service(tm)”
"As a result of Fubright winning SoftBank's Pepper robot software contest against several dozens of competitors late last year with a dementia care software app known as "Ninnin Pepper" and its synergy with our GeckoNav(tm) self guidance mobile robot software, the resulting personal robot will be the most advanced, cost effective and truly utilitarian mobile personal robot in the Pacific Rim. Upon completion of our Artificial Intelligence (AI) software integration, we expect Pepper robot sales to go from only a thousand per month, to several tens of thousands. No doubt Foxconn is prepared to manufacture those significantly higher volumes for SoftBank Robotics," stated Martin Spencer, CEO, GeckoSystems.
Recently Fubright and the company agreed upon a licensing schedule that sets the royalty stream to GeckoSystems for the use of GeckoNav. It is nearly an order magnitude greater than what Microsoft receives from OEM's per PC. It differs in that it is on an annual, per year basis to fit SoftBank's pricing strategy in Japan. This business model is known as Software as a Service (SaaS).
As a long time Japanese agent of GeckoSystems, Mr. Katsuji Fujii is credited with these successful negotiations with and management of Fubright.
Fubright's "Ninnin" AI software allows the Pepper robot to assist in waking up dementia patients and take their scheduled medicines on time. Pepper also reports to a doctor via Internet if the patient did not consume their pills. On a daily basis, the robot communicates with the patient by asking about their family to stimulate memory and the touch screen tablet on its chest has the capability to send and receive pictures and messages from a family member. ("Japanese humanoid robot called Pepper gets its own app")
Recently, Fubright witnessed a live demonstration in Japan of GeckoNav and received training from another Japanese partner of GeckoSystems, iXs Research, in its operation. GeckoNav is portable and very little R&D will be required to migrate and integrate the Company's flagship real time sense and avoid self-driving AI software to the Pepper robot that enables errand running, etc. with a "loose crowd" level of autonomy. Unless a personal robot has safe mobility and the ability to stay automatically (without human intervention) proximate to the care receiver, it's utility and value proposition are both severely constrained since the robot can only converse, remind in a single fixed location, regardless of where in the home the care receiver may be.
Perhaps most noteworthy is SoftBank's Pepper robot critical need for more application software to improve its value proposition, as discussed here: "Pepper is Getting Ready". Fubright and GeckoSystems want to have their proprietary AI software on every Pepper robot sold in the world.
SoftBank is encouraging and seeking apps for their Pepper robot just as they seek apps for the smart phones they sell in Japan, and as Apple does for its smart phones. GeckoSystems' AI mobile robot tech transfer to Fubright enables greater credibility, and acceptance by Japanese users for GeckoSystems and consequently enhances sales growth and licensing revenues for the company's stockholders.
Presently the Pepper robot lacks the fundamental and necessary functionality to safely run errands and automatically follow the care receiver. Again, real time sense and avoid moving and/or unmapped obstacles is a functional deficiency that precludes the Pepper from fully exploiting Fubright's win of SoftBank's Pepper software contest with their "Ninnin Pepper" for aiding those challenged by dementia. This need coupled with the robustness, maturity and ease of migration of GeckoNav to the Pepper is why Fubright is partnering with GeckoSystems in the formation of a Special Project Team, or joint venture, to quickly, dramatically increase Pepper robot sales for SoftBank.
SoftBank is fully aware of the reality that the Japanese heath care insurance system decreed over a year ago that their insurance program would pay 90% of the monthly costs of providing personal mobile robots for eldercare. SoftBank has a billion dollar market opportunity to sell millions of Pepper robots in the next few years. Foxconn wishes to manufacture those millions of Pepper robots for the Japanese and Chinese markets. Alibaba wishes to distribute a Chinese version of the Pepper in China.
On June 20, SoftBank sold a month's production of Peppers, (1,000 robots) in the first few minutes of being offered online. "SoftBank sells 1,000 units of its Pepper robot in first minute of online trade" Per their July 3 press release: "SoftBank to Offer 1,000 ‘Pepper’ Units on July 31"
"Due to Fubright's preeminent position and relationship with SoftBank Robotics, it is very satisfying to make this significant announcement. As would be expected at this time, we have other ongoing negotiations and receive unsolicited distributor and/or dealer inquiries not infrequently. After many years of patience by our current 1300+ stockholders, they can be assured that the present management continues to work to maximize their investments in GeckoSystems whether by organic growth or being acquired at a rewarding premium," concluded Spencer.
Recent third party market research:
Robotic systems are looked at as the future assistants that are designed to help people to do what they want to do in a natural and spontaneous manner. Moreover, with the emergence of ubiquitous computing and communication environments, robots will be able to call upon an unlimited knowledge base and coordinate their activities with other devices and systems. Additionally, the growing spread of ubiquitous computing will lead to robot technologies being embedded into ubiquitous ICT networks to become human agents of physical actions, enhancing and extending the physical capabilities and senses.
The report focuses on giving a detailed view of the complete service robotics industry with regards to the professional and personal applications as well as the geography market. Apart from the market segmentation, the report also includes the critical market data and qualitative information for each product type along with the qualitative analysis; such as Porter’s five force analysis, market time-line analysis, industry breakdown analysis, and value chain analysis. The global service robotics market is estimated to reach up to $19.41 billion by 2020 growing at a CAGR of 21.5% from 2014 to 2020.
The report recognizes the following companies as the key players in the Global Service Robot Market: GeckoSystem Intl. Corp., Honda Motor Co. Ltd., iRobot Corp. and Toyota Motor Corp.
BusinessInsider makes some key points:
* The multibillion-dollar global market for robotics, long dominated by industrial and logistics uses, has begun to see a shift toward new consumer and office applications. There will be a $1.5 billion market for consumer and business robots by 2019.
* The market for consumer and office robots will grow at a CAGR of 17% between 2014 and 2019, seven times faster than the market for manufacturing robots.
Note: BusinessInsider.com 's forecasts do not include pent up demand for family care social robots anywhere in the world.
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.
Source: GeckoSystems Intl. Corp.
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