CONYERS, Ga., Sept. 23, 2011 /PRNewswire/ -- GeckoSystems Intl. Corp. (PINKSHEETS: GOSY | http://www.geckosystems.com/) announced today a live interview with ChartPoppers.com. GeckoSystems is a dynamic leader in the development and usage of "Mobile Robot Solutions for Safety, Security and Service™."
In this audio interview, Mr. Spencer discusses the company's progress during the last year. To listen to the entire interview visit: http://ChartPoppers.com/iReports
CEO Martin Spencer talks about the progress of the company as a whole, their now concluded in home elder care CareBot™ trials, significant cost reductions achieved by incorporating Microsoft's Kinect depth camera in their mobile robot line, recent stock buy backs, and near term business plans.
Perhaps the most positive accomplishment of all was our conclusion of a year of the world's first in home elder care personal robot trials. During this time we learned a great deal about the many benefits --some which were unexpected-- to the family such as looking in on the care receiver from a grocery store parking lot, or the care receiver "minding" the CareBot's requests better than requests made directly from the care giver.
As substantive demonstration of our goal to increase stockholder value, we initiated and consummated three share buybacks since Dec. 31, 2010, resulting in reduction of issued and outstanding by over 30% or over 250,000,000 shares. We regained Current Information reporting status with OTC Markets confirming our commitment to transparency to our many loyal stockholders.
There has been a significant reduction in the fundamental cost structure of indoor mobile robots that we have embraced. For nearly thirty years industrial robot work cells have routinely employed "structured light machine vision" systems to determine orientation and location of objects such that robot arms could pick up for insertion into CNC machining systems, placement on conveyors, pallets, etc. Typically these rather elaborate machine vision systems cost $20-25,000 per robot work cell.
Last fall Microsoft introduced a runaway best selling "depth camera" called the Kinect for use with their video game system, the Xbox. Using recently cost reduced depth camera, Microsoft achieved a retail price point of $149.95. This new technology has dramatically reduced the decades old cost of structured light machine vision systems by two orders (100:1) of magnitude. This is akin to the dramatic cost reduction in electronics when that industry went from discrete transistors with one per package, to many thousands of transistors in a single integrated circuit (IC). In retrospect, this transistor to IC paradigm shift dramatically changed the world in which we live.
Exploiting this invention of a low cost, high volume manufacturable "depth camera" now enables the cost structure for personal robots like GeckoSystems' CareBot to go down from a retail of $12-15,000 to approximately $10-12,000 each. That is an impressive retail cost reduction of 15-20%. To achieve that reality, we invented the GeckoImager™ early this year. Further, this new low cost vision system has opened up new markets for us, such as the retrofit upgrade of existing power wheelchairs to be collision proof with the incorporation of our automatic self-navigation software, GeckoNav™.
See Video using GeckoImager on the CareBot
In addition to this audio interview GeckoSystems has a demo video of the CareBot prototype in action after the incorporation of Microsoft's Kinect. This unedited video may be viewed at: http://www.youtube.com/watch?v=kn93BS44Das
Viewers will see the CareBot navigate through a narrow passageway cluttered with various obstacles that represent a worst-case scenario in the home or at work. In order to do this GeckoImager uses the Kinect technology to create a field of view that enables safe, collision proof, self navigated movement. The CareBot does not need outside assistance from handlers or programmers. The video also shows the CareBot engaged in static and dynamic obstacle avoidance.
"I want to thank ChartPoppers.com for giving me the opportunity to speak to our shareholders. This past year has been a very exciting one for all of us at GeckoSystems and we look forward to more positive news as we move forward with marketing and technological advancements," concluded Spencer.
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About the Company:
Since 1997, GeckoSystems has developed a comprehensive, coherent, and sufficient suite of hardware and software inventions to enable a new type of home appliance (a personal companion robot) the CareBot™, to be created for the mass consumer marketplace. The suite of primary inventions includes: GeckoNav™, GeckoChat™ and GeckoTrak™.
The primary market for this product is the family for use in eldercare, care for the chronically ill, and childcare. The primary distribution channel for this new home appliance is the thousands of independent personal computer retailers in the U.S. The manufacturing infrastructure for this new product category of mobile service robots is essentially the same as the personal computer industry. Several outside contract manufacturers have been identified and qualified their ability to produce up to 1,000 CareBots per month within four to six months.
The Company is market driven. At the time of founding, nearly 14 years ago, the Company did extensive primary market research to determine the demographic profile of the early adopters of the then proposed product line. Subsequent to, and based on that original market research, they have assembled numerous focus groups to evaluate the fit of the CareBot personal robot into the participant's lives and their expected usage. The Company has also frequently employed the Delphi market research methodology by contacting and interviewing senior executives, practitioners, and researchers knowledgeable in the area of elder care. Using this factual basis of internally performed primary and secondary market research, and third party research is the statistical substance for the Company's sales forecasts.
Not surprisingly the scientific statistical analyses applied revealed that elderly over sixty-five living alone in metropolitan areas with broadband Internet available and sufficient household incomes to support the increased costs were identified as those most likely to adopt initially. Due to the high cost of assisted living, nursing homes, etc. the payback for a CareBot is expected to be only six to eight months while keeping elderly care receivers independent, in their own long time homes, and living longer due to the comfort and safety of more frequent attention from their loved ones.
The Company's "mobile robot solutions for safety, security and service™" are appropriate not only for the consumer, but also professional healthcare, commercial security and defense markets. Professional healthcare require cost effective, timely errand running, portable telemedicine, etc. Homeland Security requires cost effective mobile robots to patrol and monitor public venues for weapons and WMD detection. Military users desire the elimination of the "man in the loop" to enable unmanned ground and air vehicles to not require constant human control and/or intervention.
The Company's business model is very much like that of an automobile manufacturer. Due to the final assembly, test, and shipping being done based on geographic and logistic realities; strategic business-to-business relationships can range from private labeling to joint manufacturing and distribution to licensing only.
Several dozen patent opportunities exist for the Company due to the many innovative and cost effective breakthroughs embodied not only in GeckoNav, GeckoChat, and GeckoTrak, but also in additional, secondary systems that include: GeckoOrient™, GeckoMotorController™, the GeckoTactileShroud™, the GeckoImager™, and the GeckoSPIO™.
Kinect is a trademark of Microsoft Corp.
"One CareBot, One Family"
Mobile Robot Navigates Dining Room & Kitchen
GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) is quoted in the U.S. over-the-counter (OTC) markets, on the Pink OTC Current Information tier, under the ticker symbol GOSY
Current Information Status is reserved for companies disclosing adequate, mainly financial, company information publicly that increases transparency so investors can make informed decisions.
GeckoSystems International Corporation Telephone Contact:
Main number: 1-866-CAREBOT (227-3268) International: +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 Intl. Corp.