Investors: Press Release
GeckoSystems' Mobile Robots Conference to Discuss Pent Up Demand for Eldercare Capable Personal Robots
CONYERS, GA, Oct. 20, 2009 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -- announced today that during their first annual "Mobile Robots in Motion" conference November 4-5, 2009, attendees will be able to learn and discuss the basis for GeckoSystems' belief that pent-up demand exists for their cost effective, home based eldercare personal robots. GeckoSystems is a dynamic leader in the emerging Mobile Service Robot industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service."
This new type of modern eldercare will postpone, if not eliminate, many elderly persons from having to endure the loneliness and loss of independence when living in nursing homes, and other assisted living facilities. Their families can now better manage the difficult decisions regarding the independence they allow their now dependent parent while minimizing the concern and risk the adult care giver is willing to assume for a prudent level of independence for their now dependent parent.
"For the last several years, the US eldercare crisis is commonly portrayed as 'not happening' until the baby boomers reach the age of great reliance on their children and younger family members. The truth of the matter, since the US is the only country in the top ten of the world's industrialized nations without national healthcare, is that we really don't have solid statistics for our true 'bottom line' annual US eldercare costs. Many middle class baby boomers are presently suffering significant financial, time and emotional pressures attempting to care for their surviving WWII and Korean War era parents," observed Martin Spencer, President/CEO, GeckoSystems.
At the time of the company's founding, extensive primary market research was performed to determine the demographic profiles and the market segments appropriate to identify the probable early adopters of eldercare capable personal robots. Not surprisingly the scientific statistical analyses revealed that elderly over 65 living alone in metropolitan areas with broadband Internet available and sufficient household incomes to support were identified as those most likely to adopt initially. Using U.S. Census Bureau data from the 2000 census the pent-up demand, to the degree possible for metro areas only, is -to those not privy to this type of statistical analysis- nearly unbelievable. Due to the high cost of assisted living, nursing homes, etc. the payback for a CareBot is expected to be only six to eight months while keeping elderly care receivers independent, in their own long time homes, and living longer due to the comfort of more frequent attention from their loved ones.
"We project the available market size in dollars for cost effective, utilitarian, multitasking eldercare personal robots in 2010 to be $74.0B, in 2011 to be $77B, in 2012 to be $80B, in 2013 to be $83.3B, and in 2014 to be $86.6B. With market penetrations of 0.03% in 2010, 0.06% in 2011, 0.22% in 2012, 0.53% in 2013, and 0.81% in 2014, we will anticipate CareBot sales, from this consumer market segment, only, of $22.0M, $44.0M, $176M, $440.2M, and $704.3M, respectively. We expect these sales despite --and perhaps because of-- the present recession due to pent up demand for significant cost reduction in eldercare expenses," concluded Spencer.
The foregoing forecasts do not include sales in non-metropolitan areas; elderly couples over 65 (only elderly living alone are in these forecasts); those chronically ill, such as those afflicted with Alzheimers, etc, or already living with their adult children.
Some believe that the technology is approved and paid for through options such as the Assistive Technology Act of 1998, which broadens the definition, use, and funding of technology at home. Other sources include long-term care insurance, Medicare and Medicaid, Medicaid waivers, and (potentially) stimulus funds from the American Recovery and Reinvestment Act of 2009, under the provisions for health information technology and electronic medical records for acute care.
Like an automobile, mobile robots are made from steel, aluminum, plastic, and electronics, but with ten to twenty times the amount of software running. The CareBot has an aluminum frame, plastic shroud, two independently driven wheels, multiple sensor systems, microprocessors and several onboard computers connected in a local area network (LAN). The microprocessors directly interact with the sensor systems and transmit data to the onboard computers. The onboard computers each run independent, highly specialized cooperative/subsumptive artificial intelligence (AI) software programs, GeckoSavants, which interact to complete tasks in a timely, intelligent and common sense manner. GeckoNav, GeckoChat and GeckoTrak are primary GeckoSavants. GeckoNav is responsible for maneuvering, avoiding dynamic and/or static obstacles, seeking waypoints and patrolling. GeckoChat is responsible for interaction with the care-receiver such as answering questions, assisting with daily routines and reminders, and responding to other verbal commands. GeckoTrak, which is mostly transparent to the user, enables the CareBot to maintain proximity to the care-receiver using sensor fusion. The CareBot is an internet appliance that is accessible for remote video/audio monitoring and telepresence.
As predicted in the recent Forbes' article (http://www.forbes.com/2009/09/17/robots-health-care-technology-breakthroughs-telehealth.html), due to the sufficiency and cost effective robustness of GeckoSystems' first product, the CareBot, near term in home evaluation trials have been recently announced. This conference will enable many industry observers to witness and determine for themselves the proximity to market and consumer acceptance their first product will enjoy.
Journalists are encouraged to contact Mr. Spencer regarding the progress of GeckoSystems and potential attendance at the upcoming GeckoSystems' invitation only "Mobile Robots in Motion" conference. Journalists and other interested parties may submit their request for an invitation at their website or call 678-413-1640.