CONYERS, GA, United States, via ETELIGIS INC., 02/25/2015 – – GeckoSystems Intl. Corp. (OTC Pink: GOSY) (PINKSHEETS: GOSY) announced today that the company has entered into significant contract negotiations with an internationally known Japanese company. For over seventeen years GeckoSystems has dedicated itself to development of "AI Mobile Robot Solutions for Safety, Security and Service™."
"While this whirlwind tour last December was an extremely tiring trip with a full agenda, it was a very productive one, now resulting in determining appropriate terms and conditions with a high volume Japanese manufacturer, taking us one step closer to important collaborations with several other established Japanese companies,” commented Martin Spencer, CEO, GeckoSystems Intl. Corp.
For several years, GeckoSystems has had Japanese representation in the Pacific Rim due to the capable assistance of Mr. Hajime Yasumatsu and his associate, Mr. Katsuji Fujii. Due to their hard work in the last 3-4 years, numerous discussions have been initiated and are ongoing. "Lou," one of the company’s BaseBot™ prototypes, has successfully demonstrated its "loose crowd" level of mobile robot autonomy to several Japanese firms.
"Due to a confluence of several ‘sea change’ events in hardware cost reduction and the rapid expansion of the emerging trillion dollar service robotics industry in Asia, it was time for me to meet personally with the Japanese companies that we have had ongoing discussions with for several years. Our BaseBot prototype has been available to these companies for over a year now, but with NDAs in place I was able to shed new light on the magic of SafePath™ navigation and our AI architecture. I was greeted with genuine hospitality and interest and I look forward to solidifying our relationship with some, if not all of these partners in the new year," said Spencer.
The confluence of factors referred to by Spencer include:
– a 36% increase in the dollar’s purchasing power in Japan since January of 2013. The cost of manufacturing in Japan has now fallen dramatically. The Yen is expected to continue to weaken against the dollar and this will benefit many US businesses, including GeckoSystems.
– In the last year Intel introduced a new low power x86 single board computer (SBC), the "Edison" that retails for $50 each. It was designed expressly for the mobile market, the "Internet of Things," (IoT). Previously, the equivalent x86 SBC system was over $200 per system. That new reality enables a direct cost of manufacturing reduction for all the computer systems on GeckoSystems’ CareBot(tm) of over 60%. The company expects their fifth generation CareBot, now in development, to have an MSRP of less than $5,000.
– Increased interest by Japanese car manufacturers in AI navigation for the automobile.
– Continued pressure on Japanese businesses to improve and reduce the cost of caring for the Japanese elderly population with the assistance of personal service robots.
“As our 1300+ shareholders are well aware, due to our recent marketing progress and movement on the OTC to Limited Information, our stock price has appreciated not insignificantly. As would be prudent, due to the delicacy and sensitivity of these contractual negotiations, we cannot reveal more than what we have in this press release. We are continuing our commitment to marketing and licensing our AI software solutions in the U.S. and abroad in order to limit dilution of our stock and maximize shareholder value,” concluded Spencer.
GeckoSystems has been developing innovative artificial intelligence robotic technologies for over seventeen years. It is CEO Martin Spencer’s dream to make people’s lives better through robotic systems technology.
An overview of GeckoSystems’ progress containing over 700 pictures and 120 videos can be found at http://geckosystems.com/timeline/.
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.
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SOURCE: GeckoSystems Intl. Corp.