CONYERS, GA -- (Marketwired) -- 07/12/13 -- GeckoSystems International Corp. (OTC Pink: GOSY) (http://www.geckosystems.com/) is pleased to announce that the company has recently concluded a comprehensive and substantive licensing agreement with Daya International Ventures and Foundations, Israel. For over fifteen years GeckoSystems has dedicated itself to development of "Mobile Robot Solutions for Safety, Security and Service."
Last month, GeckoSystems secured revenues of $750,000 from this licensing agreement, realized as a result of this now finalized contract. The company is also negotiating other international licensing agreements that will produce additional revenue streams, as stated in the press release of May 8, 2013. http://tinyurl.com/mpvw585
Mr. Roy Daya, Chairman of Daya International and Foundations, has extensive experience in entrepreneurship and establishing profitable technological ventures. Mr. Daya and his management team have systematically researched all aspects of operations from the technology and development strategy to deployment, professional services, support, business development, marketing and sales. They chose GeckoSystems technologies because of their extensibility, portability, and the overall robustness of their suite of mobile robot solutions. GeckoSystems' technology uses a high percentage of low cost, Commercial Off The Shelf (COTS) components that will allow Daya to enter the market rapidly and at a very competitive price level.
"After seven months of market research and analysis, Daya International has identified areas where Mobile Service Robots (MSR's) can be both practical and cost effective in today's business environment. We believe that robots are more than just the promise of a brighter future; they are a practical solution for problems in the real world that need to be addressed now.
"It became clear to us that in order to be able to enter this market we needed not only cutting edge technologies, but also years of experience in robotic development. We believe we've found a true partner in GeckoSystems and its founder and CEO, Martin Spencer. GeckoSystems technology has evolved through fifteen years of hands on design experience in the real world. We feel that GeckoSystems has an extensible set of technologies that will enable us to develop state-of-the-art mobile service robot solutions with a relatively short development phase. Working with GeckoSystems will allow us to focus on functionality and the unmet needs in the market.
"We were pleased to discover the depth of GeckoSystems' experience and the maturity of their software development. We found their MSR solutions to be significantly more complete and more stable than any other technology available on the market today. Daya International and GeckoSystems have created Daya Robotics as a joint venture to bring practical and cost effective MSRs to the Israeli market in the near term -- not someday, somehow. MSR technology is needed in a wide range of products, they offer significant cost savings and improve the quality and reliability of many service industries whose needs are not being met by a robotics industry that currently focuses on industry and defense. We have selected the hospital and medical market as our first development project because of its high potential for cost savings and quick ROI. As Daya Robotics grows, we will expand to additional sectors and international markets," commented Mr. Daya.
Mr. Daya is on the Advisory Board of Partners 500, a company that was founded by experienced industry leaders who view global partnerships and insight as an essential factor of entrepreneurial success. Based on this premise, Partners500 established a premiere network of partnerships and relationships with global corporations and executives to cooperatively align their core competencies with the global market. As a member of Partners 500 Advisory Board, Mr. Daya will be able to move Daya Robotics into many international marketplaces, which is significant for GeckoSystems.
"While Mr. Daya and his staff developed their Daya Robotics website and the technology transfer was finalized, we respected their prudent decision not to be named in our initial press releases. We are pleased with the fact that this first licensing agreement will not only feature SafePath navigation, but it will showcase other GeckoSystems high level AI software systems. We will be able to demonstrate to the investment community -- and other prospective partners -- that these systems are as extensible and portable as our AI centric navigation system. We are very gratified to have a demonstrably successful serial entrepreneur of Mr. Daya's caliber and business acumen partnering with us in the Israeli marketplace. Mr. Daya's focus on healthcare is congruent with our long time focus on the need for cost effective, robot assisted, family care," stated Martin Spencer, President/CEO, GeckoSystems Int'l Corp.
This initial $750,000 transaction significantly impacts GeckoSystems' fiscal status. As corporate guidance, the company's income statement now reflects 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 are due. Gross margin for the year as a percentage of gross revenues is over 70%. Return on stockholder equity exceeds 40%. The company forecasts over $5,000,000 in additional licensing revenues over the 5-year duration of this contract.
"Mr. Daya shares our vision that the entire mobile service robot industry will soon be very significant part of our economy. I am delighted to have consummated this defacto JV with Daya International and I believe our 1300+ loyal stockholders will soon be very pleased with the return on their investment," concluded Spencer.
About Daya Robotics:
For more information about Daya Robotics visit their website at: http://DayaRobotics.DayaInt.com or email them at: DayaRobotics@DayaInt.com
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 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 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. http://www.otcmarkets.com/stock/GOSY/quote
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:
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.
GeckoSystems Intl. Corp.
Main number: +1 678-413-9236
Fax: +1 678-413-9247
OCTOBER 30, 2014
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