CONYERS, Ga., April 16, 2012 /PRNewswire/ -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) -- is closely reviewing the scope and size of the European market for its "SafePath Enabled(tm)" wheelchair technology. As a result of recent enhancements to GeckoNav(tm), the company is now calling their suite of fundamental mobile robot solutions for automatic, self-navigation: "SafePath Enabled(tm)." GeckoSystems is a dynamic leader in the emerging mobile robotics industry, revolutionizing the development and usage of "Mobile Robot Solutions for Safety, Security and Service(tm)."
The number of wheelchairs per year projected for sale in the European market:
France...........................110,000 Germany........................120,000 United Kingdom..............270,000 Italy...............................100,000 Rest of Europe...............270,000 Total for Europe.............870,000
Assuming only 10% of those purchasers need and can afford a SafePath Enabled chair upgrade, annual market projections for this market would be 87,000 SafePath wheelchairs. If the company earns only $100 per wheelchair, annual revenues from this niche market for GeckoSystems would be $8,700,000. More realistically, the licensing per wheelchair would run $250 per unit and 25% of the chairs sold annually would have the SafePath upgrade. This would result in $54,375,000 in annual revenues for GeckoSystems.
Additionally, GeckoSystems anticipates marketing automatically calibrated SafePath retrofit kits. Estimated sales of the kits would be 87,000 units for the first several years. Demand would taper off as pent up demand is satisfied. These kits would require software licensed exclusively from GeckoSystems and the company anticipates additional revenues of $8.7 to $54.3 million per year from this royalty stream within EU markets only.
On the competitive horizon, the robot wheelchair market in Europe has these potential competitors doing research: (From "Market Evaluation for Colchester Catalyst on the use of Robotic Wheelchairs" See note 1.)
Smart Rehab (UK) Roma Medical (UK) Sunrise Medical (UK) Pride Medical (USA and UK) Invacare (UK) Exact Dynamics (Netherlands) Bluebotics (Switzerland) Meyra-Ortopedia (Germany) TopChair (France)
In March of last year, GeckoSystems announced their first Japanese order with the oldest Japanese wheelchair manufacturer, Imasen Engineering, to upgrade two of their power wheelchairs to be "collision proof". This order to upgrade was secured through the joint efforts of GeckoSystems' long time Japanese business development representative, Mr. Hajime Yasumatsu (Chairman of Yasu, Inc.) and a recently signed representative, Mr. Tsunenuri Kato (President/CEO of ifoo Co., Ltd).
SafePath technology is the innovative navigation system created by GeckoSystems that merges robotic technology with traditional steering, locomotion and automatic guidance systems. SafePath goes beyond the collision avoidance systems now being used in automobiles and other applications. SafePath lets the user "joystick specify" a destination and achieve it while the system takes over collision avoidance and speed adjustment as directed by the user. GeckoSystems anticipates commercial production of the first "SafePath Enabled™" wheelchair by the end of 2012, in a joint venture facility now under construction in Nanle, China.
SafePath navigation can be migrated to all existing mobile robotics applications. In addition it can be an upgrade to non-robotic applications such as the automobiles, military vehicles (including land mine detection systems), airport luggage/passenger carts, industrial transportation, and power wheelchairs.
"We have worked for nearly fifteen years developing 'Mobile Robot Solutions for Safety, Security, and Service™' and we are very pleased that our first commercial robotic application will be the SafePath Enabled wheelchair for markets such as Japan, China and Europe. We feel privileged to have an opportunity to help disabled persons in Europe to live with greater independence and dignity despite their confinement to a wheelchair," stated R. Martin Spencer, President/CEO, GeckoSystems Intl. Corp.
"Market Evaluation for Colchester Catalyst on the use of Robotic Wheelchairs" TECHNICAL REPORT: CES-514 John Oyekan and Huosheng Hu School of Computer Science and Electronic Engineering University of Essex Wivenhoe Park Colchester CO4 3SQ, United Kingdom 26th of August 2011
About Yasu, Inc.: Yasu is a U.S. corporation domiciled in Missouri that provides professional services including business development support, networking events, extensive market intelligence, access to bilingual Japanese businesses, and English to Japanese translation of sales and technical information.
About Imasen Engineering Corporation: Imasen electric wheelchairs are dedicated to the pursuit of safety and comfort, designed to be an indispensable and supportive component of one's life. They have been developed not only to be comfortable for the rider, but also easy for caretakers to operate, easy on the environment, and pleasant to look at with an attractive design.
About ZMP: GeckoSystems is proud to announce their collaboration with ZMP and has prepared an overview of the company for the U.S. investment community on their website. This page of introduction has been reviewed and authorized by ZMP management in Japan.
ZMP has an outstanding record of innovation and co-operation within the robotics community. ZMP was born out of the Kitano Symbiotic Systems Project, which was sponsored by the Japanese government to push technology forward. ZMP collaborates regularly with Japanese Universities and Technological Institutions and provides robotic teaching tools.
In 2008 ZMP began a collaborative effort with three other Japanese companies, Business Design Laboratory (BDL) Nagoya, Vstone Co. of Osaka and Tmsuk of Fukuoka. The purpose of this group effort was to improve the competitive position of Japanese robotics in the face of the Korean government's strong government support of the robotics industry. These four Japanese companies joined together for cooperative research, development and marketing of next generation robotic applications for home and consumer use.
About GeckoSystems Intl. Corp.: GeckoSystems has been developing innovative robotic technology for over fourteen years. It is CEO Martin Spencer's dream to make people's lives better through robotic technology.
GeckoSystems, Star Wars™ Technology http://www.youtube.com/watch?v=VYwQBUXXc3g
Although the company's primary focus has been an elder care robot, the CareBot(tm), AI (artificial intelligence) software technology developed for this project is being marketed internationally. The company believes many devices in use today can be improved through the use of its AI navigation software system. The company expects their "SafePath Enabled" wheelchair and an upgrade for existing wheelchairs will be on the market sometime in 2012.
GeckoSystems' Mobile Robot Solutions Improve Wheelchair Safety http://www.geckosystems.com/markets/wheelchair.php
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 requires 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.
GeckoSystems stock is quoted in the U.S. over-the-counter (OTC) markets, on the Pink OTC Current Information tier, under the ticker symbol GOSY. Telephone: Main number: 1-866-CAREBOT (227-3268) International: +1 678-413-9236 Fax: +1 678-413-9247
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 Intl. Corp.