CONYERS, Ga., Feb. 15, 2013 /PRNewswire/ -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) would like to update our investor community as to the activities we have been engaged in during the past year and anticipate this year. For over fifteen years GeckoSystems has dedicated itself to development of "Mobile Robot Solutions for Safety, Security and Service(tm)."
Marketing – a priority in 2012 and 2013
Last year, 2012, was a very busy year for GeckoSystems and we are excited about this new year! The improved confidence in the US economy along with our ability to successfully demonstrate our proprietary software on the CareBot™ and the SafePath™ wheelchair has increased the level of inquiries and joint venture discussions.
We are most excited about our continued activities in Japan. We have opened a small marketing office in that country with a representative working on joint ventures for GeckoSystems. He has arranged for a demonstration of our BaseBot™, "Lou," at ZMP for a Japanese manufacturing company. This demonstration is scheduled to take place next week.
Additionally, we have retained Mountain Marketing, Inc. in Denver, CO to assist in our U.S. marketing efforts. They update our website routinely and are working on a new site with better navigation and access to our technical discussions. We hope to engage the disabled community and provide additional dealer and manufacturer information on the site. GeckoSystems welcomes OEM inquires about migrating SafePath navigation to existing vehicles and mobile products.
Mountain Marketing is also doing business-to-business marketing of SafePath Enabled™ power wheelchair technology. GeckoSystems believes that SafePath technology will expand the market for power wheelchairs 50% to 200% and is in discussions with domestic wheelchair manufacturers as the result of Mountain Marketing's efforts.
"I'm passionate about getting SafePath Enabled power wheelchairs on the market. Every day lost is a day of enhanced safety and mobility denied to tens of thousands of disabled in the U.S. alone," commented Paula Nelson, President, Mountain Marketing, Inc.
A discussion of the need for SafePath Enabled power wheelchairs and illustrations of what the final product will look like can be found in this report:
Demonstration videos of the first migration of SafePath navigation to a power wheelchair can be viewed here:
Technology Developments in 2012
Technology development progressed nicely this past year. GeckoConfigEd™ and GeckoVerify™ were developed as a result of what was learned in migrating GeckoNav™, GeckoSuper™, GeckoImager™, and GeckoMotorController™ to a locomotion system (a power wheelchair) not of the Company's design. GeckoVerify™ was developed to ease and facilitate the debugging of communications between multiple proprietary GeckoSystems AI software savants. GeckoConfigEd is a user-friendly program that is used to readily configure the nearly one hundred tuning parameters used by GeckoNav, the basic component of SafePath.
GeckoSystems' Current Share Structure
The company regrets that our OTC classification has been downgraded to "Stop" sign. While this gives the indication we are not active in our business activities to support all shareholders that is far from the reality. Since our focus has been on securing joint ventures and marketing, we simply have not had the time or financial means to update our Company filings and information on OTC.
However, we want to inform all shareholders of our current share structure since it was last reported June 30, 2012.
As of February 15, 2013:
In November we secured a Temporary Protective Order in Georgia against Neil Wallace. To date we have not been able to convert that TPO to a Permanent Protection Order, due to inter state personal jurisdiction requirements, not the validity of the need for the PPO. We continue to work on that matter and will keep the shareholders updated. In addition, we are still engaged in litigation with Mr. Wallace and his parents in Delaware. GeckoSystems has a very competent DE attorney who is working diligently regarding these legal issues.
"To all our stakeholders, I am personally very appreciative of your long time support. We have worked over 15 years in developing our "mobile robot solutions for safety, security, and service™" and we continue to believe that our "family first" orientation has enabled us to survive the economic storms of the last few years. We resolutely continue our journey due to our desire to enable families to have a safer, less time stressed, and more cost effective means of caring for their loved ones. Our suite of AI robot technologies is very real, cost effective, and can be used to SafePath Enable mobile platforms not of our design or manufacture. We have several ongoing joint venture discussions consisting of one in Europe, four in the US, and two in Japan. Of course these discussions are sensitive and all parties are under non-disclosure agreements. Our prospects for near term revenues have never been brighter than what they are at present. So while I sincerely regret that we are not Current Information in our filings, we believe our limited resources are better focused on achieving revenues such that our 1300+ stockholder may enjoy the ROI they deserve," stated Martin Spencer, President, GeckoSystems Intl. Corp.
GeckoSystems has been developing innovative robotic technologies for fifteen years. It is CEO Martin Spencer's dream to make people's lives better through robotic technology.
In a recent Research and Markets report:
"The global service robotics market in 2011 was worth $18.39 billion. This market is valued at $20.73 billion in 2012 and expected to reach $46.18 billion by 2017 at an estimated CAGR of 17.4% from 2012 to 2017. The market is driven by factors like ageing population, value enhancement by robots, increasing grants and funds by governments, increasing venture capital investments in service robotics companies, enhancements in complementary technologies and integration of robotics with mobile technologies, other smart products, and appliances." http://www.researchandmarkets.com/publication/9rvoof/personal_professional_service_robotics_mark
GeckoSystems projects the available market size in dollars for cost effective, utilitarian, multitasking eldercare personal robots in 2013 to be $74.0B, in 2014 to be $77B, in 2015 to be $80B, in 2016 to be $83.3B, and in 2017 to be $86.6B. With market penetrations of 0.03% in 2013, 0.06% in 2014, 0.22% in 2015, 0.53% in 2016, and 0.81% in 2017, we anticipate CareBot sales, from this consumer market segment, only, of $22.0M, $44.0M, $176M, $440.2M, and $704.3M, respectively. The company is presently securing funding for manufacturing, marketing and final beta testing of their CareBot.
An overview of GeckoSystems' progress and accomplishments 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(tm) 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 will 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. GeckoSystems is "Current Information." http://www.otcmarkets.com/stock/GOSY/quote
Here is a "basher free" message board devoted to GOSY: http://investorshangout.com/board/62282/Geckosystems+Intl+Co-GOSY
Here is Spencer's LinkedIn profile: http://www.linkedin.com/pub/martin-spencer/11/b2a/580
Telephone: Main number: 1-866-CAREBOT (227-3268) International: +1 678-413-9236 Fax: +1 678-413-9247 Website: http://www.geckosystems.com/ Source: GeckoSystems Intl. Corp.
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.