Investors: Press Release
GeckoSystems Praises Recent SCOTUS Decision Re: Brown Bros. Harriman “Misplacing” 50,000,000 GOSY Shares
CONYERS, GA, November 1, 2016 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.GeckoSystems.com/) announced today that the ramifications of a recent Supreme Court of the United States (SCOTUS) ruling --that expands States’ Rights-- is of particular relevance and potentially dramatic benefit to their shareholders due to, eg. Brown Brothers, Harriman and Company (BBH) present indifference to their inability to determine where 50,000,000 shares (~24.1% of all freely traded shares) owned by a long time GOSY shareholder, went. For over nineteen years GeckoSystems has dedicated itself to development of "AI Mobile Robot Solutions for Safety, Security and Service(tm)."
This SCOTUS decision is the most significant for companies that are small and technology driven such as GeckoSystems by enabling state courts to have jurisdiction in other states to lower litigation costs for plaintiffs seeking damages for theft by deception, naked shorting, propagating “false rumors” to depress the company stock price and/or receive “unjust enrichment” to garner significant monies. Many of these SMB companies have suffered for years while they have seen their stock manipulated by de facto naked shorting and false rumors, all done to drive the stock price down for excessive and illegal profits to brokerages, such as BBH. On July 10, 2015, GeckoSystems’ senior management and majority stockholders filed a Georgia Racketeer Influence and Corrupt Organizations (RICO) Act suit in the Rockdale County Superior Court in Conyers, GA. http://tinyurl.com/qhl3uzu Stock manipulation frequently fits the pattern of illicit racketeering.
“For some years, all of our shareholders and the tens of thousands that hold stock in other stock manipulated (such as “spoofing” or refusing to sell at Ask to preclude being forced to cover naked short positions) companies have suffered significant losses due to ongoing stock price manipulation by brokerages large and small. These predatory brokerages (see below examples), intent on making more money as they “false rumor” the price down to cover their naked shorts to achieve unjust enrichment, have hidden behind the now pierced veil of only being sued in Federal courts or by futilely complaining to either/or the severely underfunded SEC and/or FINRA. No doubt, it is readily apparent that this new States’ Rights affirmation by SCOTUS will be welcomed by the thousands of publicly traded companies preyed upon since they could not afford to initiate and consummate litigation successfully in Federal courts previously.
“Presently we are of information and belief that one of the Defendants in our RICO suit, Neil T. Wallace, in concert with George I. MacLeod, have exploited several market makers possible, but not probable, ignorance of the far-reaching impact of this recent SCOTUS decision. We have notified Brown Bros. Harriman’s Chief Compliance Officer, Josh Hutson, Senior Vice President, several times of our present concerns. We have also contacted senior management at Puma Capital, LLC (PUMA), G1 Execution Services (ETRF) and KCG Holdings (NITE) the substance of our position. Since Mr. MacLeod left the US unexpectedly, we are of information and belief that Mr. Wallace has been, and is one of his domestic fellow racketeers.
Note that PUMA has been sanctioned by FINRA in the past for certain manipulative short selling, naked short selling or other illegal short selling activities relating to the trading of a company's common stock.
Please see PUMA's most recent broker check report from FINRA. Its states interalia, that "PUMA Capital, LLC failed to properly mark a sell as short on its ledger in 324 instances." A copy of their broker check record can be found here (click on "Firm" and type in "Puma"): http://brokercheck.finra.org/
Read the Entire Filing: http://brokercheck.finra.org/Report/Download/50987249
As of September 7, 2016, FINRA confirmed:
... THE FINDINGS STATED THAT THE FIRM'S SUPERVISORY SYSTEM DID NOT PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH RESPECT TO THE APPLICABLE SECURITIES LAWS AND REGULATIONS, AND FINRA RULES...
Continuing, KCG Americas and Susquehanna International Group LLP (dba E*trade) have been sued and fined for their illegal activities. Below are a few examples in the links below:
KCG Holdings, Inc. (NITE)
Class Action Lawsuit against the SEC, FINRA and KCG Holdings
G1 Execution Services, LLC (ETRF)
FINRA investigating E*Trade for potentially rigged markets
E*Trade units to pay $2.5 million to settle SEC charges over illegal sales
“At this time, we are not 100% sure as to whether these brokerages are knowingly working with these Defendants or not. Nonetheless, they have been contacted (Eg., Mr. Joshua Greenstein, Chief Compliance Officer of PUMA) several times regarding the seriousness of our concerns and informed that we believe, with substance, they are assisting MacLeod and Wallace to GeckoSystems’ shareholders' financial detriment,” summarized Martin Spencer, Founder/CEO, GeckoSystems Intl. Corp.
“‘Naked’ short sellers squeezed by Supreme Court”
Published by AMI Newswire May 16, 2016
In a sweeping blow to Wall Street investment giants, the U.S. Supreme Court today unanimously allowed lawsuits against "naked" short sellers in state courts to proceed.
The high court ruled unanimously that shareholders are not confined to federal court when seeking recourse for securities violations. Granting “due deference to the important role of state courts,” the Court reinforced federalist principles while clarifying congressional intentions to limit the federal government’s role.
The ruling, which could give a new boost to startups and small companies targeted by short sellers, showed a rare moment of ideological agreement in the court. Justice Elena Kagan authored the Court’s opinion, and Justice Clarence Thomas, joined by Justice Sonia Sotomayor, issued a concurrence.
In 2012, businessman Greg Manning sued Merrill Lynch and other financial institutions in New Jersey state court for purposefully devaluing his company through systematic “naked” short-selling — a term used to describe selling a stock a seller does not own and has not borrowed. In standard short sales, traders either borrow a stock or make sure that it can be borrowed prior to selling it short in the hope that its value will fall before the transaction must be covered.
The practice has come under increasing scrutiny and has been banned in Germany and other major economies.
Read more: http://tinyurl.com/jgz257w
The complete SCOTUS opinions are here: http://www.supremecourt.gov/opinions/15pdf/14-1132_4g15.pdf
Continuing from the article ‘Naked’ short sellers squeezed by Supreme Court: (Underlines added below for emphasis.)
While legitimate short-selling remains an accepted financial practice, manipulation by false rumors and naked short-selling has taken a serious toll on emerging industries. Biotechnology industry insiders have for years pleaded with the SEC to block the illegal short selling and false whisper campaigns that plague the industry. Smaller technology-driven companies frequently lack the resources to deal with attacks that drive down stock prices, crippling research and development budgets.
Read more: http://tinyurl.com/jgz257w
Here’s some excerpts from their most recent GA RICO filing:
Neil T. Wallace is an associate of Mr. George I. MacLeod who, upon information and belief, has vigorously orchestrated naked short selling of the Plaintiffs’ stock for many years. Mr. MacLeod resides in the UK at an unknown location from the U.S. Securities authorities. It is believed that he and Bette Wallace’s son, Reed Wallace, were involved in similar stock manipulation schemes regarding Sushi Trend. Reed Wallace was sued by Sushi Trend for illegal use of their restricted stock and they received a Default Judgment against him. (U.S. District Court District of Nevada case #07CV1129.)
Neil Wallace, brother of Reed Wallace, has spread false information about the Plaintiffs’ company on the internet, to the courts, its attorneys and in numerous correspondences at times using his parents and family to assist in these efforts directly and indirectly. His public disparagement of the company has put false rumors, and therefore doubts, in the minds of the Plaintiffs’ business associates, potential customers, attorneys, and stock investors.
The complete filing and all exhibits are here: http://tinyurl.com/gou7bcf
“This recent Supreme Court ruling has occurred at a very propitious time for us. As one can read in the foregoing, our company has been subjected to adverse stock price manipulation for some years. We are of the belief that this “Wallace” group has committed many predicate acts constituting RICO and cost our shareholders several millions of dollars in ROI due, in part, to the literally thousands of false rumors they have posted on several stock message boards to drive the share price down. In the last few years we believe they have successfully caused a panic on our stock, pushing us below a penny a share.
“Since our stock price moved up recently, from $.008 to $.021 and then manipulated (spoofed, etc.) back down to $.008 or less, those holding the massive GOSY short position (or selling stock purloined from GOSY shareholders) are particularly motivated to continue their naked shorting practice, trading in stolen stock shares, or face covering costs that could cause them to “fail to cover” and flirt with financial insolvency, if not outright bankruptcy. Given that they have now “spoofed” the high of over $.02 down 30% to $.014, we seem to have no choice but add these market makers, such as BBH to our RICO lawsuit forthwith. Our 1300+ shareholders can continue to be confident that we are working diligently to protect their investment from the illegal trading activities discussed here,” concluded Spencer.
GeckoSystems has been developing innovative robotic technologies for nineteen years. It is CEO Martin Spencer's dream to make people's lives better through AI robotic technologies.
The safety requirement for human quick WCET reflex time in all forms of mobile robots:
In order to understand the importance of GeckoSystems' breakthrough, proprietary, and exclusive AI software and why another Japanese robotics company desires a business relationship with GeckoSystems, it’s key to acknowledge some basic realities for all forms of automatic, non-human intervention, vehicular locomotion and steering.
- Laws of Physics such as Conservation of Energy, inertia, and momentum, limit a vehicle’s ability to stop or maneuver. If, for instance, a car’s braking system design cannot generate enough friction for a given road surface to stop the car in 100 feet after brake application, that’s a real limitation. If a car cannot corner at more than .9g due to a combination of suspension design and road conditions, that, also, is reality. Regardless how talented a NASCAR driver may be, if his race car is inadequate, he’s not going to win races.
- At the same time, if a car driver (or pilot) is tired, drugged, distracted, etc. their reflex time becomes too slow to react in a timely fashion to unexpected direction changes of moving obstacles, or the sudden appearance of fixed obstacles. Many car "accidents" result from drunk driving due to reflex time and/or judgment impairment. Average reflex time takes between 150 & 300ms. http://tinyurl.com/nsrx75n
- In robotic systems, "human reflex time" is known as Worst Case Execution Time (WCET). Historically, in computer systems engineering, WCET of a computational task is the maximum length of time the task could take to execute on a specific hardware platform. In big data, this is the time to load up the data to be processed, processed, and then outputted into useful distillations, summaries, or common sense insights. GeckoSystems' basic AI self-guidance navigation system processes 147 megabytes of data per second using low cost, Commercial Off The Shelf (COTS) Single Board Computers (SBC's).
- Highly trained and skilled jet fighter pilots have a reflex time (WCET) of less than 120ms. Their "eye to hand" coordination time is a fundamental criterion for them to be successful jet fighter pilots. The same holds true for all high performance forms of transportation that are sufficiently pushing the limits of the Laws of Physics to require the quickest possible reaction time for safe human control and/or usage.
- GeckoSystems' WCET is less than 100ms, or as quick, or quicker than most gifted jet fighter pilots, NASCAR race car drivers, etc. while using low cost COTS and SBC's
- In mobile robotic guidance systems, WCET has 3 fundamental components.
- Sufficient Field of View (FOV) with appropriate granularity, accuracy, and update rate.
- Rapid processing of that contextual data such that common sense responses are generated.
- Timely physical execution of those common sense responses.
In order for any companion robot to be utilitarian for family care, it must be a "three-legged milk stool."
(1) Human quick reflex time to avoid moving and/or unmapped obstacles, (GeckoNav(tm): http://tinyurl.com/le8a39r)
(3) Ability to automatically find and follow designated parties (GeckoTrak(tm): http://tinyurl.com/mton9uh) such that verbal interaction can occur routinely with video and audio monitoring of the care receiver is uninterrupted.
An earlier third party verification of GeckoSystems’ AI centric, human quick sense and avoidance of moving and/or unmapped obstacles by one of their mobile robots can be viewed here: http://t.co/NqqM22TbKN
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(tm) 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. http://www.otcmarkets.com/stock/GOSY/quote
GeckoSystems uses http://www.LinkedIn.com as its primary social media site for investor updates. Here is Spencer's LinkedIn.com profile:
Main number: +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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