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.
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
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:
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:
GeckoSystems stock is quoted in the U.S. over-the-counter (OTC) markets under the ticker symbol GOSY.
Here is a stock message board devoted to GOSY recommended by us:
GeckoSystems uses http://www.LinkedIn.com as its primary social media site for investor updates. Here is Spencer's LinkedIn.com profile:
Main number: +1 678-413-9236
Fax: +1 678-413-9247
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.