Investors: Press Release
GeckoSystems Signs Pivotal Agreement With Japanese Firm Due to Elder Care Robot Trials
CONYERS, Ga., Oct. 15, 2010 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -- announced today that that their Japanese representative, Hajime Yasumatsu, has successfully negotiated an internationally enforceable Non-Disclosure Agreement (NDA) with a Japanese marketing firm, ifoo, Co. Ltd.
GeckoSystems is a dynamic leader in the emerging mobile robotics industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service™."
"We are very pleased to announce the signing of this essential agreement. We have worked for over ten years to secure sufficient legal and enforceable protection, not only in the U.S., but also in Japan, to enable us to fully disclose the wide range of cost effective, utilitarian mobile robot solutions we have invented since our founding over thirteen years ago. We give full credit to Yasumatsu's tenacity and hard work in achieving this noteworthy milestone," observed Martin Spencer, President/CEO, GeckoSystems Intl. Corp.
"Not only does ifoo have interest in marketing a commercial security robot in Japan fundamentally based on GeckoSystems' suite of proprietary technologies, they are also very interested in jointly developing a low cost four (4) Degree of Freedom (DOF) robot arm suitable for not only mobile robots, but also for light industrial use.
"To emphasize their sincerity, their President/CEO, Mr. Tsunenuri Kato, has affixed a unique seal officiating his signature per Japanese custom in contractual matters of importance," stated Mr. Yasumatsu, Chairman, Yasu, Inc.
Mr. Kato became aware of and interested in GeckoSystems' capabilities and interest in the Japanese market due to his intimate involvement as a principal at Business Design Laboratory Co., Ltd. (BDL)
"BDL is in the business to do planning, development, manufacturing and sales of intelligent communication robots. They are aiming for the leading position in the Japanese personal robot industry. BDL will contribute to the 'Aging (Japanese) Society with Fewer Children.' They intend to further growth of a new industry and support venture businesses by coordinating joint projects among industry, government, and education entities.
"BDL's associated companies include the following: Brother Industries, Ltd., (product design), NEC System Technologies, Ltd., (voice recognition and text-to-speech technologies), Asahi Kasei Corporation, (robotics engines), and Futaba Industrial Co., (manufacturing)," commented Yasumatsu.
"I believe their interest in us is due to not only our flagship product, the automatic self navigation software, GeckoNav™, but also the reality that we have a complete multitasking personal assistant robot, the CareBot. We continue to expect technology licensing revenues, primarily software, to precede revenues from product manufacturing and sales. Ifoo and GeckoSystems are investigating collaborating on the development of a four-degree of freedom (DOF) low cost robot arm appropriate for mobile service robots and light industrial use. With the internationally enforceable NDA now in place, GeckoSystems can provide those Company Confidential designs and specifications.
Further, ifoo is in discussions with a significant Japanese customer requiring several hundred commercial security mobile robots. GeckoSystems has already provided conceptual specifications and artist's concept drawings to support that sales and marketing activity by ifoo.
"The cost saving benefits of GeckoSystems' suite of mobile robot technologies will generate multiple revenue streams for GeckoSystems in the form of licensing, royalties, training, and sales of various hardware systems and subsystems. I expect the synergies revealed in our confidential discussions to result in distribution into the Japanese market and to enable significant cost reductions in the systems and subsystems we import from Japan. As one would expect, licensing revenues and a more competitive cost structure will increase shareholder value and ROI for our stockholders," opined Spencer.
"Our on going world's first in home elder care robot trials have garnered many inquiries for us regarding our business model, technologies available for licensing, and interest in joint domestic and international ventures. We continue to expect technology-licensing revenues to precede revenues from product manufacturing and sales. This augurs well for increased ROI and shareholder value for our investors," summarized Spencer.