CONYERS, GA--(Marketwire - January 20, 2010) -
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GeckoSystems Intl. Corp. |
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 more company information publicly available as to stock structure, beneficial owners, etc, GeckoSystems is attempting to 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 three years GeckoSystems secured its 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. Now GeckoSystems has satisfied Pinksheets requirements to be designated: Current Information.
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. 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 corporate transparency and greater ease in their transfers of their GCKO holdings 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™, 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 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™ 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™" 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 CompoundedSensorArray™, and the GeckoSPIO™.
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:
www.GeckoSystems.com
or
Main number: 1-866-227-3268
International: +1 678-413-9236
Investor Relations:
Noah Clark, Jr.
Direct line: 1-678-413-1640