CONYERS, Ga., May 23, 2013 /PRNewswire/ -- GeckoSystems
International Corp. (Pink Sheets: GOSY |
http://www.geckosystems.com/) is pleased to announce that due to a
recently concluded licensing agreement, the company forecasts over
$5,000,000 in initial and ongoing
licensing revenues over the 5 year duration of the joint venture
contract. For over fifteen years GeckoSystems has dedicated
itself to development of "Mobile Robot Solutions for Safety,
Security and Service(tm)."
At this time GeckoSystems has secured revenues of
$750,000 from this Joint Venture
(JV), realized as a result of the now finalized international JV
agreement. The JV partnership has experience in
entrepreneurship and establishing technological ventures.
They have systematically gone through all aspects of operations
from the technology and development strategy to deployment,
professional services, support, business development, marketing and
sales. They chose GeckoSystems because of the low cost,
extensibility, portability, and overall robustness of their suite
of mobile robot solutions. This reality has the implicit and
significant benefit of being "fast to market."
The initial $750,000 transaction
significantly impacts GeckoSystems' fiscal status. As
corporate guidance, the company expects the income statement to
reflect more than $500,000 in profit
before taxes for the fiscal year ending June
30, 2013. Due to the company's tax loss carry forwards, no
state or federal taxes will be due. Gross margin for the year as a
percentage of gross revenues will be over 70%. Return on
stockholder equity will be over 40%.
"The great thing about this first JV is that it will not only
feature SafePath(tm) navigation, but it will showcase other
GeckoSystems high level AI software systems and demonstrate that
they are as extensible and portable as our navigation system.
"We are not revealing the identity of our new partner at this
time due to the intensely competitive nature of this emerging
industry. They are now very absorbed in initial product
development for a completely new MSR product line based on our
proprietary technologies. It is not uncommon for new robotics
companies to operate in 'stealth mode' until they can announce
significant progress.
"The accelerated rate of joint venture inquires and ongoing
discussions that we are experiencing at this time is not
happenstance. We have ongoing discussions in the US,
Pacific Rim, and the EU. The media
has been closely following the usage of teleoperated drones and
'driverless' cars during the last few years; both the public and
the investment community are very aware of the utility and cost
effectiveness of even these slightly intelligent
vehicles.
"GeckoSystems has now undergone a rite of passage, from
Development Stage to Emerging Growth; the entire mobile service
robot industry will soon be very significant part of our
economy. I believe our over 1300 loyal stockholders will soon
be very pleased with the return on their investment," concluded
Martin Spencer, President/CEO,
GeckoSystems.
About GeckoSystems:
GeckoSystems has been developing innovative robotic technologies
for fifteen years. It is CEO Martin
Spencer's dream to make people's lives better through mobile
service robot technology.
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
http://www.youtube.com/watch?v=VYwQBUXXc3g
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:
http://www.youtube.com/watch?v=kn93BS44Das
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:
http://www.geckosystems.com/markets/CareBot.php
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
Here is a stock message board devoted to GOSY recommended by
us:
http://investorshangout.com/board/62282/Geckosystems+Intl+Co-GOSY
GeckoSystems uses http://www.LinkedIn.com as its primary social
media site for investor updates. Here is Spencer's LinkedIn.com
profile:
http://www.linkedin.com/pub/martin-spencer/11/b2a/580
Telephone:
Main number: +1 678-413-9236
Fax: +1 678-413-9247
Website: http://www.geckosystems.com/
Safe Harbor:
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 International Corp.