GeckoSystems, an AI Mobile Robot Co., Updates 1300+ Stockholders

GeckoSystems achieved profitability for its fiscal year ending June 30; gained its first international joint venture; received further international recognition; identified additional, significant cost reductions for its mobile robot solutions; and secured dismissal of all pending lawsuits.

CONYERS, Ga., November 4, 2013 -- GeckoSystems International Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) is pleased to inform its stockholders that the Company continues to make substantive progress in the emerging marketplace of mobile service robots with five notable financial, marketing, product development, and legal achievements. For over fifteen years GeckoSystems has dedicated itself to development of "Mobile Robot Solutions for Safety, Security and Service(tm)."


GeckoSystems achieved profitability for its fiscal year ending June 30; gained its first international joint venture; received further international recognition; identified additional, significant cost reductions for its mobile robot solutions; and secured dismissal of all pending lawsuits.

Financial performance:

This past year has been one of significant evolution for us; we transitioned from being a Development Stage, pre-revenue, company to an Emerging Growth, net profitable, company. As you can read on our year-end financials here, http://geckosystems.com/investors/GOSY_Financials_Ending_June_30_13.pdf , we have net, after tax profits for our fiscal year ending June 30, 2013, of over $560,000. Due to the company's tax loss carry forwards, no state or federal taxes is due. Gross margin for the year as a percentage of gross revenues was over 70%. Return on stockholder equity was over 40%.

Marketing progress:

We continue to work with Roy Daya, the CEO of our joint venture in Israel, regarding Daya Robotics and the need for health care robots in Israel. Since securing that joint venture, we have been contacted by two well-known international firms regarding licensing our technology and/or engaging in a joint venture. Due to the sensitivity and confidentiality of those discussions, at this time we cannot reveal the identities of these two highly regarded robot manufacturers.

Another internationally renowned market research firm, Infiniti Research, has identified GeckoSystems as one of three key vendors, along with Honda and iRobot, in the service robotics marketplace.

Infiniti Research stated in their report, " Global Service Robotics Market 2012-2016," that: "The report also includes a discussion of the key vendors operating in this market. The key vendors dominating this market space are GeckoSystems Intl. Corp., Honda Motor Co. Ltd., and iRobot Corp. Other vendors mentioned in the report are AB Electrolux, Bluefin Robotics Corp., Deep Ocean Engineering Inc., ECA Hytec SA, Fujitsu Ltd., International Submarine Engineering Ltd., MacArtney Group, Sony Corp., Toyota Motor Corp."

Continuing: "Analysts forecast the Global Service Robotics market to grow at a CAGR of 19.05 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand of professional robots for medical applications. The Global Service Robotics market has also been witnessing the increase in availability of service robots on a leased basis. However, the lack of effective product differentiation could pose a challenge to the growth of this market. Global Service Robotics Market 2012-2016 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Service Robotics market landscape and its growth prospects in the coming years."
http://www.marketresearch.com/Infiniti-Research-Limited-v2680/Global-Service-Robotics-7821638/

About a year ago, another internationally renowned market research firm, Research and Markets, deemed GeckoSystems to be one of eight key market players in the service robotics industry.

Research and Markets stated in their report, "Personal & Professional Service Robotics Market - Global Forecast & Assessment by Applications & Geography (2012 - 2017)," that: "The key market players in service robotics industry are Honda Motors (Japan), iRobot (U.S.), AB Electrolux (Sweden), Sony (Japan), Fujitsu (Japan), Toyota (Japan), GeckoSystems (U.S.), and Yujin Robot (South Korea)." http://www.researchandmarkets.com/publication/9rvoof/personal_professional_service_robotics_mark

In this Research and Markets report, they state: "The global service robotics market in 2011 was worth $18.39 billion. This market is valued at $20.73 billion in 2012 and expected to reach $46.18 billion by 2017 at an estimated CAGR of 17.4% from 2012 to 2017. The market is driven by factors like ageing population, value enhancement by robots, increasing grants and funds by governments, increasing venture capital investments in service robotics companies, enhancements in complementary technologies and integration of robotics with mobile technologies, other smart products, and appliances."

"We are pleased that the experienced analysts at Research and Markets, and now Infiniti Research, are sufficiently astute to accept that small mobile service robot firms, such as GeckoSystems, can nonetheless develop advanced technologies and products as well as, or better than, much larger, multi-billion dollar corporations such as Honda, iRobot, Sony, and Toyota," reflected Martin Spencer, President/CEO, GeckoSystems Intl. Corp.

Product development:

Perhaps the biggest news from us to date is in product development and our confidence that the CareBot can now be cost reduced to a full retail of only $5,000, without losing any of its present functionality while extending battery life. We have always be very careful to keep all our Artificial Intelligence (AI) software portable and extensible such that it can be migrated to lower cost computer hardware as Moore's Law allows. The rapid proliferation and cost reduction of smart phones and tablet computers is what is enabling us to forecast, with a high level of confidence, that we can manufacture and market a $5,000 personal robot, our CareBot, in the near term. This is a significant competitive advantage for us since virtually all our competitors, with far less functionality and benefits, are selling for $12,000 and up.

Litigation:

The only active litigation against the company and/or its management has been dismissed with prejudice. "When this suit was filed over two years ago, our legal counsel was of the opinion that the suit was merit less. Nonetheless, since this same party had damaged GeckoSystems by filing multiple, abusive legal actions over a number of years, as a defensive measure, the company filed a counter suit for tortious interference. When the presiding judge issued a court opinion that the defamation suit was without basis, the Plaintiff promptly withdrew the suit. Although this egregiously abusive suit and other actions of the Plaintiff damaged GeckoSystems, we withdrew our counter suit because we believe that more appropriate venues exist.

"We have no other lawsuits pending. The two judgments remaining involve the same party that initiated the now dismissed suit. These judgments to be settled are minor and not material to our progress.

"In summary, GeckoSystems is better positioned and gaining new traction in domestic and international markets as an advanced AI mobile robot solution provider as evidenced by two ongoing discussions with premier robot providers. We have achieved our first net profits that very favorably impact our financials. We have no active lawsuits. And, best of all, significant price reductions in our CareBot and SafePath wheelchair upgrade are anticipated. I continue to remain completely confident of our continued growth prospects and sufficient ROI to justly reward our 1300+ loyal stockholders," concluded Spencer.


About GeckoSystems:

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(tm) 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(tm) navigation is now available to OEM licensees and these videos show the versatility of GeckoSystems' fully autonomous navigation solution.

GeckoSystems, Star Wars Technology
http://www.youtube.com/watch?v=VYwQBUXXc3g

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:
http://www.youtube.com/watch?v=kn93BS44Das

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:
http://www.geckosystems.com/markets/CareBot.php

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:
http://investorshangout.com/board/62282/Geckosystems+Intl+Co-GOSY

GeckoSystems uses http://www.LinkedIn.com as its primary social media site for investor updates. Here is Spencer's LinkedIn.com profile:
http://www.linkedin.com/pub/martin-spencer/11/b2a/580


Telephone:
Main number: +1 678-413-9236
Fax: +1 678-413-9247
Website: http://www.geckosystems.com/
Source: GeckoSystems Intl. Corp.

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.

UAV's, AGV's, driverless cars, self driving cars, personal assistance robots, autonomous robots, fully autonomous robots, assistive robots, social robots, co-robots, mobile service robots

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