Investors: Press Release
GeckoSystems' New Years Gift to Investors: Massive Share Buy Back
CONYERS, GA--(Marketwire - December 31, 2010) - GeckoSystems Intl. Corp. (PINKSHEETS: GOSY) reported today that their board of directors recently authorized a 185,000,000 share buy back representing over 25% of the prior number of issued and outstanding shares. 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 have long expressed our commitment to increasing stockholder value. This reduction of our outstanding shares by over 25% gives substance to that commitment. This massive buy back presents many benefits to our large shareholder base, just as a stock dividend would," stated Martin Spencer, President/CEO, GeckoSystems.
In the past year, GeckoSystems has made demonstrable progress in taking mobile service robots to the mass consumer markets in the US, Japan, and EU.
Their world's first in home elder care robot trials have given them many important strategic insights as to consumer reactions and benefits. These in home evaluation trials are the first important step to achieving the goal, as stated by Bill Gates, for "A Robot in Every Home" (http://www.scientificamerican.com/article.cfm?id=a-robot-in-every-home). According to Gates this is an emerging trillion-dollar market. GeckoSystems is positioned very well for this exploding market. Some believe GeckoSystems has a "first mover" opportunity.
"I am so pleased that we are able to reward our many long time and loyal shareholders with this buy back gift. The last couple of years have been difficult economic times for our small, development stage company. However, we have been able to make the necessary decisions in order to continue with the development of our robot and its technology and to satisfy our many shareholders. I am excited about the many positive activities for GeckoSystems as we move forward into the year 2011," stated Elaine Spencer, Corporate Secretary/Treasurer, GeckoSystems.
GeckoSystems has a well-educated and experienced management team which was able to secure its trading symbol by satisfying FINRA's 15c2-11 requirements. Subsequently GeckoSystems became DTC eligible and a DRS participant to further enhance stockholder liquidity and value.
Due to the need for equity financing for high growth firms, GeckoSystems has worked for over ten years to become fully reporting as soon as financially viable. In fact, the Company has been successfully audited twice, for two year periods each, and found to be fully compliant under thorough outside financial audits prepared by SEC certified CPA firms with the Financial Accounting Standards Board's (FASB's) generally accepted accounting principles (GAAP).
"As a result of the level of risk inherent in high tech, emerging market Development Stage firms such as ours, especially during these challenging economic times, we understand clearly that only equity (not debt) instruments can provide sufficient return on investment (ROI) for investors to assume the risk of purchasing any high tech, emerging market stock such as GOSY stock. Hence our long time efforts in this regard and determination to continue our move upward to not only a more pronounced domestic stock exchange, but also those with international reach, such as OTCQX.
"We believe we have a great 2011 ahead of us. We have numerous licensing initiatives presently in Japan and Europe, a significant technological breakthrough that opens up more markets near term, and our elder care robot trials continue to exceed our expectations as to the cost effective benefit for potentially millions of American families. Due to those realities, the co-founders took a note from GeckoSystems, at par value, for all the GOSY stock bought back by GeckoSystems. We have completed this buy back as an implicit need to constantly demonstrate our commitment to increasing stock holder value to our approximately 1400 small investors," concluded Spencer.