Investors: Press Release
GeckoSystems and Fubright Agree on Software Licensing Terms for SoftBank's Pepper Robot
CONYERS, Ga., July 14, 2015 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced today that the company has reached mutually acceptable licensing terms with Fubright Communications Co. Ltd. for use of their GeckoNav(tm) self guidance mobile robot software on SoftBank Robotics' personal robots to all Pepper users in Japan. Fubright is the recent winner of SoftBank's Pepper robot software contest over several dozen other entrants with their Ninnin app for elderly dementia care.
"The now agreed upon licensing schedule sets the royalty stream to GeckoSystems. It is nearly an order magnitude greater than what Microsoft receives from OEM's per PC. It differs in that it is on an annual, per year basis to fit SoftBank's pricing strategy in Japan," stated Martin Spencer, CEO, GeckoSystems.
As a long time Japanese agent of GeckoSystems, Mr. Katsuji Fujii is credited with these successful negotiations with Fubright.
Fubright won SoftBank's Pepper robot software contest against several dozens of competitors late last year with an app known as Ninnin Pepper. Ninnin allows the Pepper robot to assist in waking up dementia patients and take their scheduled medicines on time. Pepper also reports to a doctor via Internet if the patient did not consume their pills. On a daily basis, the robot communicates with the patient by asking about their family to stimulate memory and the touch screen tablet on its chest has the capability to send and receive pictures and messages from a family member. ("Japanese humanoid robot called Pepper gets its own app")
Recently, Fubright witnessed a live demonstration in Japan of GeckoNav and received training from another Japanese partner of GeckoSystems, iXs Research, in its operation. GeckoNav is portable and very little R&D will be required to migrate and integrate the Company's flagship real time sense and avoid self-driving artificial intelligence (AI) software to the Pepper robot that enables errand running, etc. with a "loose crowd" level of autonomy.
No other AI mobile robot company in Asia, the US, or Europe is known to have mobile robot solutions with this level of automatic self-guidance with dynamic obstacle avoidance movement that is "jet fighter pilot" capable in complex, fluid environments. Those that suggest they do have this capability require tens of thousands of dollars of computer and sensory systems hardware to achieve what the Company does for a few hundred. GeckoSystems was founded over 15 years ago and over $8,000,000 has been spent to develop their low cost, breakthrough, proprietary AI technology. The company developed their SafePath(tm) AI mobile robot navigation technologies to address those very important linchpin requirements for any mobile robot to be truly utilitarian (convenient like a home appliance), while being cost effective for a compelling value proposition.
Perhaps most noteworthy is SoftBank's Pepper robot critical need for more application software to improve its value proposition, as discussed here: "Pepper is Getting Ready":
"When we talk about the profitability of domestic robots, however, experience tells us that, at the moment, the robots which are profitable are not those which “can do a lot of different things” but those which do one thing and do it well. With the SoftBank business model Pepper can be bought for a more reasonable price than a domestic humanoid robot has ever had, but for Pepper to find its place in the home it will have to show that it is different and will have to demonstrate how its unique ability to recognize emotions from human gestures and tones of voice will be usefully applied in the domestic sphere."
SoftBank is encouraging and seeking apps for their Pepper robot just as they seek apps for the smart phones they sell in Japan, and as Apple does for its smart phones. GeckoSystems alliance with Fubright enables greater credibility, and acceptance by Japanese users for GeckoSystems and consequently enhances sales growth and licensing revenues.
Presently the Pepper robot lacks the fundamental and necessary functionality to safely run errands and automatically follow the care receiver. Again, real time sense and avoid moving of unmapped obstacles is a functional deficiency that precludes the Pepper from fully exploiting Fubright's win of SoftBank's Pepper software contest with their "Ninnin Pepper" for aiding those challenged by dementia. This need coupled with the robustness, maturity and ease of migration of GeckoNav to the Pepper is why Fubright is partnering with GeckoSystems.
SoftBank is fully aware of the reality that the Japanese heath care insurance system decreed over a year ago that their insurance program would pay 90% of the monthly costs of providing personal mobile robots for eldercare. SoftBank has a billion dollar market opportunity to sell millions of Pepper robots in the next few years. Foxconn wishes to manufacture those millions of Pepper robots for the Japanese and Chinese markets. Alibaba wishes to distribute a Chinese version of the Pepper in China.
On June 20, SoftBank sold a month's production of Peppers, (1,000 robots) in the first few minutes of being offered online. "SoftBank sells 1,000 units of its Pepper robot in first minute of online trade" Per their July 3 press release: "SoftBank to Offer 1,000 ‘Pepper’ Units on July 31"
Fubright and GeckoSystems want to have their proprietary AI software on every Pepper sold in the world.
"Due to Fubright's preeminent position and relationship with SoftBank Robotics, it is very satisfying to make this announcement and present this analysis to all our stockholders, both present and future. As would be expected at this time, we have other ongoing negotiations. After many years of patience by our current 1300+ stockholders, they can be assured that the present management continues 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.
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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