Investors: Press Release
GeckoSystems' Japanese JV Securing $1,000,000 for Eldercare Companion Robot R&D
CONYERS, Ga., April 28, 2016 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced today that the company is partnering with IC Corp. Ltd. (ICCL), in their submission to the Japanese government for a $1,000,000 grant to adapt GeckoSystems' AI mobile robot solutions to the Japanese market place. For over eighteen years GeckoSystems has dedicated itself to development of "AI Mobile Robot Solutions for Safety, Security and Service(tm)."
"I am pleased to report that due to the continued hard work of one of our Japanese representatives, Mr. Fujii Katsuji, we have again achieved demonstrable progress securing viable joint ventures in Japan. This latest, one of several joint ventures being entertained, is particularly significant due to the breadth and depth of the robotics expertise of ICCL (http://www.ic-corp.jp/) and their insistence we meet them as soon as is prudent in Japan to sign the JV agreement," commented Martin Spencer, CEO, GeckoSystems Intl. Corp.
At this time, there are approximately 2,200,000 million Japanese over 65 living alone. Their greatest fear is to die alone and that their demise not be known to others for a few days. For this reason and many others, the Japanese government pays 90% of the cost of personal robots used for eldercare such that concern would be well addressed. Further, the Japanese government is paying 75% of the R&D costs to develop robotic healthcare solutions for greater productivity to provide more economic care giving for their extraordinarily large senior population. This recent article further underscores Japan's commitment to eldercare capable, 'welfare' robots: "Japan govt to urge nursing care robot development" http://tinyurl.com/oehxdba
"We are very much looking forward to meet with Mr. Spencer and discuss the large Japanese market for 'welfare robots,'" stated Mr. Takashi Nabeta, CEO, ICCL.
GeckoSystems has already done primary market research, focus group market research, and the most extensive in home personal robot trials in the world.
Due to GeckoSystems' world's first in home personal mobile robot trials that have been conducted and documented, management is confident they have the "right stuff" to be very synergistic with ICCL, as does ICCL, in readily satisfying the Japanese government's requirements for an eldercare capable mobile robot R&D grant.
GeckoSystems' world's first in home trials began in 2009:
Continued into 2010:
The benefit of a companion robot capable of safely running errands and/or automatically following the care receiver requires real time sense and avoid of moving and/or unmapped obstacles. This is a functional necessity for a sufficient value proposition for ready adoption and sales. This linchpin requirement is why ICCL is jointly submitting with GeckoSystems.
GeckoSystems developed their SafePath(tm) AI mobile robot navigation technologies some years ago to address those very important requirements for any mobile robot to be truly utilitarian (convenient like a home appliance), while being cost effective, with their breakthrough AI mobile robot technology, GeckoNav(tm).
Prior to this agreement to form a JV to jointly migrate GeckoSystems AI mobile robot self-driving solutions to the Japanese marketplace, ICCL signed an NDA with GeckoSystems that includes this necessary Safety Clause:
Both parties understand and agree with the general concerns that mobile robot solutions may be used to lethally harm persons, other living things, property, and a country's infrastructure if terrorists, criminals, or other private or public enemies of peace, security, and tranquility were to secure access to and/or use of them. Therefore both parties completely agree that MSR safety is of the greatest importance in the utilization of MSR technologies. All MSR technologies shared by both parties in any manner will be treated with the utmost secrecy and respect due to that reality and potential.
GeckoSystems has been acknowledged routinely by an internationally recognized market research firm one or more time in each of the last five years and being anywhere from the top one in three to the top one in eight in the world in service robotics.
While GeckoSystems' AI mobile robot solutions have been largely unnoticed in the US, many ongoing negotiations continue in Japan and Europe due to the company's AI mobile robot solutions robust utility and portability to virtually any and all forms of mobile robots whether air, land, or sea. That includes drones, self-driving cars, and essentially all mobility systems requiring complete safety from hitting any obstacles in those situations in which the reflexes of a highly skilled and experienced jet fighter pilot could readily evade.
Spencer will be traveling to Japan on May 20th and expects to return early to mid June in order to have sufficient time to meet with present JV partners, support ICCL, and meet with potential new licensees, such as the Japanese trading company earlier mentioned. Initially this trip was scheduled for March, but due to an unfortunate accident, their long time Japanese representative was incapacitated. Concurrently, ICCL secured a three times larger facility to better support the joint venture, but the relocation of their office and laboratories also delayed the previously scheduled March meetings.
"During these unforeseen delays, due to the continued hard work of two of our Japanese representatives, Mssrs. Fujii Katsuji and Tsunenori Kato, CEO, Ifoo Company Limited, we have again achieved demonstrable progress securing viable licensing agreements in Japan. This latest, one of several being negotiated, is particularly significant due to the breadth, depth and heritage of this nearly 100 year old Japanese trading company," stated Spencer.
Both companies are certain that their advanced mobile service robot will contribute to Japan's rapidly aging society by helping seniors live safer and easier and will be recognized by the Japanese reviewers by their approval of this $1,000,000 grant submission.
Recently, a premier Japanese government trade organization has expressed interest in assisting GeckoSystems exporting to the Japanese market. A near term meeting in Atlanta, Georgia is being scheduled to learn their probable level of assistance.
"Certainly, on both sides of the Pacific, we are doing as much as is prudent and/or feasible to maximize the benefit of the monetary costs and time in going to Japan. This new JV continues to progress robustly, such that GeckoSystems will enjoy additional licensing revenues that will enable us to further increase shareholder value. It is very satisfying to make this announcement substantiating our continued growth and reassure all our stockholders, both present and future, that our OTC Markets reporting status will soon return to Current Information. After many years of patience by our current 1300+ stockholders, they can continue to be completely confident that the present management will update them routinely and 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.
GeckoSystems has been developing innovative robotic technologies for over eighteen years. It is CEO Martin Spencer's dream to make people's lives better through AI 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(tm) 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.
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.
CareBot has incorporated Microsoft Kinect depth cameras that result in a significant cost reduction.
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 AI mobile companion robot:
GeckoSystems stock is quoted in the U.S. over-the-counter (OTC) markets under the ticker symbol GOSY. http://www.otcmarkets.com/stock/GOSY/quote
GeckoSystems uses LinkedIn and Twitter as its primary social media site for investor updates.
Spencer's LinkedIn.com profile Spencer tweets as @GrandpaRobot
Main number: +1 678-413-9236
Fax: +1 678-413-9247
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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