CONYERS, GA -- August 15, 2016 -- InvestorsHub NewsWire --
GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.GeckoSystems.com/) announced today that the
benefits from a recent Supreme Court of the United States (SCOTUS)
ruling that expands States Rights is of particular relevance and
potentially dramatic benefit to the Companys 1300+ shareholders.
For over nineteen years GeckoSystems has dedicated itself to
development of "AI Mobile Robot Solutions for Safety, Security and
Service(tm)."
This SCOTUS decision is most significant for companies that are
small and technology driven such as GeckoSystems by enabling state
courts to have jurisdiction in other states to lower litigation
costs for plaintiffs seeking damages for naked shorting,
propagating false rumors to depress the company stock price and
receive unjust enrichment to garner significant monies. Many of
those companies have suffered for years while they have seen their
stock manipulated by naked shorting and false rumors, all done to
drive the stock price down for excessive and illegal profits to
brokerages, such as Merrill-Lynch. On July 10, 2015, GeckoSystems
senior management and majority stockholders filed a Georgia
Racketeer Influence and Corrupt Organizations (RICO) Act suit in
the Rockdale County Superior Court in Conyers, GA. http://tinyurl.com/qhl3uzu
For some years, all of our shareholders and the tens of
thousands that hold stock in other stock manipulated companies have
suffered losses due to ongoing stock price manipulation by
brokerages large and small. These predatory brokerages, intent on
making more money as they false rumor the price down to cover their
naked shorts to achieve unjust enrichment, have hidden behind the
now pierced veil of only being sued in Federal courts. No doubt, it
is readily apparent that this new States Rights affirmation by
SCOTUS will be welcomed by the thousands of publicly traded
companies preyed upon since they could not afford to initiate and
consummate litigation successfully in Federal courts.
Presently we are of information and belief that one on the
Defendants in our RICO suit, Neil T. Wallace, in concert with
George I. MacLeod, have exploited several market makers possible,
but not probable, ignorance of the far reaching impact of this
recent SCOTUS decision. For example:
Ascendiant Capital Group, LLC (ASCM)
http://tinyurl.com/zksk25e
http://tinyurl.com/z9xqaby
KCG Americas, LLC (NITE)
http://tinyurl.com/zhqcycf
http://tinyurl.com/jnlpf3y
Citadel Securities, LLC (CDEL)
http://tinyurl.com/zhqcycf
http://tinyurl.com/jnlpf3y
At this time, we are not 100% sure as to whether these
brokerages are knowingly working with these Defendants or not,
summarized Martin Spencer, Founder/CEO, GeckoSystems Intl.
Corp.
Naked short sellers squeezed by Supreme Court
Published by AMI Newswire May 16, 2016
In a sweeping blow to Wall Street investment giants, the U.S.
Supreme Court today unanimously allowed lawsuits against "naked"
short sellers in state courts to proceed.
The high court ruled unanimously that shareholders are not
confined to federal court when seeking recourse for securities
violations. Granting due deference to the important role of state
courts, the Court reinforced federalist principles while clarifying
congressional intentions to limit the federal governments role.
The ruling, which could give a new boost to startups and small
companies targeted by short sellers, showed a rare moment of
ideological agreement in the court. Justice Elena Kagan authored
the Courts opinion, and Justice Clarence Thomas, joined by Justice
Sonia Sotomayor, issued a concurrence.
In 2012, businessman Greg Manning sued Merrill Lynch and other
financial institutions in New Jersey state court for purposefully
devaluing his company through systematic naked short-selling a term
used to describe selling a stock a seller does not own and has not
borrowed. In standard short sales, traders either borrow a
stock or make sure that it can be borrowed prior to selling it
short in the hope that its value will fall before the transaction
must be covered.
The practice has come under increasing scrutiny and has been banned
in Germany and other major economies.
Read more: http://tinyurl.com/jgz257w
The complete SCOTUS opinions are here: http://www.supremecourt.gov/opinions/15pdf/14-1132_4g15.pdf
Continuing from the article Naked short sellers squeezed by
Supreme Court: (Underlines added below for emphasis.)
While legitimate short-selling remains an accepted financial
practice, manipulation by false rumors and naked short-selling has
taken a serious toll on emerging industries. Biotechnology industry
insiders have for years pleaded with the SEC to block the illegal
short selling and false whisper campaigns that plague the industry.
Smaller technology-driven companies frequently lack the resources
to deal with attacks that drive down stock prices, crippling
research and development budgets.
Read more: http://tinyurl.com/jgz257w
Heres some excerpts from our most recent GA RICO filing:
FACTS
6.
Neil T. Wallace is an associate of Mr. George I. MacLeod who,
upon information and belief, has vigorously orchestrated naked
short selling of the Plaintiffs stock for many years. Mr. MacLeod
resides in the UK at an unknown location from the U.S. Securities
authorities. It is believed that he and Bette Wallaces son, Reed
Wallace, were involved in similar stock manipulation schemes
regarding Sushi Trend. Reed Wallace was sued by Sushi Trend for
illegal use of their restricted stock and they received a Default
Judgment against him. (U.S. District Court District of Nevada case
#07CV1129.)
7.
Neil Wallace, brother of Reed Wallace, has spread false
information about the Plaintiffs company on the internet, to the
courts, its attorneys and in numerous correspondences at times
using his parents and family to assist in these efforts directly
and indirectly. His public disparagement of the company has put
false rumors, and therefore doubts, in the minds of the Plaintiffs
business associates, potential customers, attorneys, and stock
investors.
The complete filing and all exhibits are here: http://tinyurl.com/gou7bcf
This recent Supreme Court ruling has occurred at a very
propitious time for us. As one can read in the foregoing, our
company has been subjected to adverse stock price manipulation for
some years. We are of the belief that this Wallace group has
committed many predicate acts constituting RICO and cost our
shareholders several millions of dollars in ROI due, in part, to
the literally thousands of false rumors they have posted on several
stock message boards to drive the share price down. In the last few
years we believe they have successfully caused a panic on our
stock, pushing us below a penny a share.
Since our stock price moved up last week, from $.008 to $.014,
those holding the massive GOSY short position are particularly
motivated to continue their naked shorting practice or face
covering costs that could cause them to fail to cover and flirt
with financial insolvency, if not outright bankruptcy. On another
note, while we are waiting for movement from our NYC and Japanese
JVs, we nonetheless remain completely committed to providing our
1300+ shareholders the ROI they so richly deserve. They can
continue to be confident that we expect to be signing numerous
multi-million-dollar licensing agreements to further substantiate
and delineate the reality that GeckoSystems will further increase
shareholder value as has occurred this past week," concluded
Spencer.
About GeckoSystems:
GeckoSystems has been developing innovative robotic technologies
for nineteen years. It is CEO Martin Spencer's dream to make
people's lives better through AI robotic technologies.
The safety requirement for human quick WCET reflex time in all
forms of mobile robots:
In order to understand the importance of GeckoSystems'
breakthrough, proprietary, and exclusive AI software and why
another Japanese robotics company desires a business relationship
with GeckoSystems, its key to acknowledge some basic realities for
all forms of automatic, non-human intervention, vehicular
locomotion and steering.
1. Laws of Physics such as Conservation of Energy, inertia, and
momentum, limit a vehicles ability to stop or maneuver. If, for
instance, a cars braking system design cannot generate enough
friction for a given road surface to stop the car in 100 feet after
brake application, thats a real limitation. If a car cannot corner
at more than .9g due to a combination of suspension design and road
conditions, that, also, is reality. Regardless how talented a
NASCAR driver may be, if his race car is inadequate, hes not going
to win races.
2. At the same time, if a car driver (or pilot) is tired,
drugged, distracted, etc. their reflex time becomes too slow to
react in a timely fashion to unexpected direction changes of moving
obstacles, or the sudden appearance of fixed obstacles. Many car
"accidents" result from drunk driving due to reflex time and/or
judgment impairment. Average reflex time takes between 150 &
300ms. http://tinyurl.com/nsrx75n
3. In robotic systems, "human reflex time" is known as Worst
Case Execution Time (WCET). Historically, in computer systems
engineering, WCET of a computational task is the maximum length of
time the task could take to execute on a specific hardware
platform. In big data, this is the time to load up the data to be
processed, processed, and then outputted into useful distillations,
summaries, or common sense insights. GeckoSystems' basic AI
self-guidance navigation system processes 147 megabytes of data per
second using low cost, Commercial Off The Shelf (COTS) Single Board
Computers (SBC's).
4. Highly trained and skilled jet fighter pilots have a reflex
time (WCET) of less than 120ms. Their "eye to hand" coordination
time is a fundamental criterion for them to be successful jet
fighter pilots. The same holds true for all high performance forms
of transportation that are sufficiently pushing the limits of the
Laws of Physics to require the quickest possible reaction time for
safe human control and/or usage.
5. GeckoSystems' WCET is less than 100ms, or as quick, or
quicker than most gifted jet fighter pilots, NASCAR race car
drivers, etc. while using low cost COTS and SBC's
6. In mobile robotic guidance systems, WCET has 3 fundamental
components.
a. Sufficient Field of View (FOV) with appropriate granularity,
accuracy, and update rate.
b. Rapid processing of that contextual data such that common
sense responses are generated.
c. Timely physical execution of those common sense
responses.
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In order for any companion robot to be utilitarian for family
care, it must be a "three legged milk stool."
(1) Human quick reflex time to avoid moving and/or unmapped
obstacles, (GeckoNav(tm): http://tinyurl.com/le8a39r)
(2) Verbal interaction (GeckoChat(tm): http://tinyurl.com/nnupuw7) with a sense of date and
time (GeckoScheduler(tm): http://tinyurl.com/kojzgbx), and
(3) Ability to automatically find and follow designated parties
(GeckoTrak(tm): http://tinyurl.com/mton9uh) such that verbal
interaction can occur routinely with video and audio monitoring of
the care receiver is uninterrupted.
An earlier third party verification of GeckoSystems AI centric,
human quick sense and avoidance of moving and/or unmapped obstacles
by one of their mobile robots can be viewed here: http://t.co/NqqM22TbKN
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
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/
Source: GeckoSystems Intl. Corp.
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.