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SMALL BUSINESS
GeckoSystems' Common Stock Quoted on Pink Sheets Current Information Tier
Market Wire
CONYERS, GA -- (Marketwire) -- 11/11/09 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO)
announced today that its Common Stock is now quoted in the U.S.
over-the-counter markets, on the Pink Sheets Current Information tier,
under the ticker symbol GCKO. GeckoSystems is a dynamic leader in the
emerging mobile robotics industry revolutionizing their development and
usage with "Mobile Robot Solutions for Safety, Security and Service(TM)."
As a result of having its securities available for trading on the OTC
market, GeckoSystems is able to offer its shareholders ease of trading
through regulated broker-dealers, while providing transparency to its
investors, business partners, and customers.
"By making our information publicly available, GeckoSystems will foster an
efficient secondary trading market and provide greater understanding of our
business model for investors, advisors, and regulators in the OTC market,"
said Martin Spencer, President/CEO, GeckoSystems. "We hope that our meeting
the Current Information guidelines will allow us to better satisfy the
needs of our stakeholders, by providing high quality disclosure to
investors via Pink Sheets."
The term "OTC securities" is a catchall phrase for any equity security that
is not listed on a U.S. stock exchange. The OTCQX and Pink Sheets
marketplaces constitute, by dollar volume, the third largest U.S. liquidity
pool for trading public company shares, after The NASDAQ Stock Market, Inc.
and The New York Stock Exchange.
In the last two years GeckoSystems has secured a trading symbol, GCKO, by
satisfying FINRA's 15c2-11 requirements. Subsequently GeckoSystems became
DTC eligible and a DRS participant to further enhance stockholder liquidity
and value. Due to the need for equity financing for high growth firms,
GeckoSystems has worked for over ten years to become fully reporting as
soon as financially viable. In fact, the Company has been successfully
audited twice, for two year periods each, and found to be fully compliant
under thorough outside financial audits prepared by SEC certified CPA firms
with the Financial Accounting Standards Board's (FASB's) generally accepted
accounting principles (GAAP) on both occasions since founding.
"Due to the level of risk inherent in high tech, emerging market
Development Stage firms such as ours, we understand clearly that only
equity (not debt) instruments can provide sufficient return on investment
(ROI) for investors to assume the risk of purchasing any high tech,
emerging market stock such as GCKO stock. Hence our long time efforts in
this regard, and determination to continue our move upward to not only a
more pronounced domestic stock exchange, but also those with international
reach, such as OTCQX," observed Spencer.
GeckoSystems received their Pink Sheet trading symbol, GCKO, from FINRA as
a result of satisfying all their due diligence requirements from the filing
of a Form 15c2-11. The Company has no unaccounted for, or otherwise
missing, shares outstanding and issued. "We worked for nearly a year in
preparing our initial 15c2-11 submission to, and addressing the comments
of, FINRA prior to their issuance of our trading symbol, GCKO. We received
our trading symbol, GCKO, from FINRA in September of 2007. In order to
enable electronic trading we became DTC eligible in January of 2008. Now,
as a DRS Participant, the ability to trade GCKO stock electronically is
even more streamlined, efficient, transparent, and reliable," stated
Spencer.
DRS provides for the electronic direct registration of securities in an
investor's name on the books of the transfer agent or issuer. It allows
shares to be transferred between a transfer agent and a broker
electronically through the industry's DRS Profile Systems. Historically,
investors hold their shares either in "street name" with their broker, or
they are "registered shareholders" and have a certificate. Consequently,
the Company is in a position, as a DRS participant, to readily identify
those parties engaging in "naked short selling" of GCKO stock.
Mr. Spencer received his Masters in Business Administration from the J.
Mack Robinson College of Business, Georgia State University, Atlanta,
Georgia, in 1987. Consequently he is formally trained and educated for the
professional management of publicly traded domestic and international
corporations. (See
http://robinson.gsu.edu/index.html for more
information.)
"We are very pleased to be able to offer our stockholders this new,
heightened level of ownership transparency and greater ease in their
transfers of their holdings in GeckoSystems as a trading in the Pink Sheets
in the Current Information tier. We wish to assure our stockholders that
this greater efficiency in the marketplace for our stock will further
enhance the value and liquidity of GCKO stock and increase the ROI for them
as we continue in our efforts to move upward to more pronounced domestic
and international stock exchanges," reflected Spencer.
About GeckoSystems International Corporation:
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 robot) the CareBot(TM), to be created for the
mass consumer marketplace. The suite of primary inventions includes:
GeckoNav(TM), GeckoChat(TM) and GeckoTrak(TM).
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 12 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(TM) 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.
Using U.S. Census Bureau data and various predictive statistical analyses,
the Company projects the available consumer market size in dollars for cost
effective, utilitarian, multitasking eldercare personal robots in 2010 to
be $74.0B, in 2011 to be $77B, in 2012 to be $80B, in 2013 to be $83.3B,
and in 2014 to be $86.6B. With market penetrations of 0.03% in 2010, 0.06%
in 2011, 0.22% in 2012, 0.53% in 2013, and 0.81% in 2014, we will
anticipate CareBot sales, from this consumer market segment, only, of
$22.0M, $44.0M, $176M, $440.2M, and $704.3M, respectively. The Company
expects these sales despite -- and perhaps because of -- the present
recession due to pent up demand for significant cost reduction in eldercare
expenses.
The foregoing forecasts do not include sales in non-metropolitan areas;
elderly couples over 65 (only elderly living alone are in these forecasts);
those chronically ill -- regardless of age -- or elderly living with their
adult children.
The Company's "mobile robot solutions for safety, security and service(TM)"
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(TM), GeckoMotorController(TM), the
GeckoTactileShroud(TM), the CompoundedSensorArray(TM), and the
GeckoSPIO(TM).
The present senior management at GeckoSystems has over thirty-five years
experience in consumer electronics sales and marketing and product
development. Senior managers have been identified for the areas of
manufacturing, marketing, sales, and finance.
While GeckoSystems has been in the Development Stage, the Company has
accumulated losses to date in excess of six million dollars. In contrast,
the Japanese government has spent one hundred million dollars in grants (to
Sanyo, Toshiba, Hitachi, Fujitsu, NEC, etc.) over the same time period to
develop personal robots for their eldercare crisis, yet no viable solutions
have been developed.
By the end of this year, the Company plans to complete productization of
its CareBot offering with the introduction of its fourth generation
personal robot, the CareBot 4.0 MSR. The Company expects to be the first
personal robot developer and manufacturer in the world to begin in-home
eldercare evaluation trials.
Safe Harbor:
The Current Information category is based on the level of disclosure and is
not a designation of quality or investment risk. This category includes
shell or development stage companies with little or no operations as well
as companies without audited financials and as such should be considered
extremely speculative by investors.
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.
Contact:
http://www.geckosystems.com/
or
Main number: 1-866-CAREBOT (227-3268)
International: +1 678-413-9236
Investor Relations:
Direct line: 1-678-413-1640
or
Main number: 1-866-CAREBOT (227-3268)
International: +1 678-413-9236
Investor Relations:
Direct line: 1-678-413-1640
MARKET WIRE
2009-11-11 00:10:06
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