The initial $750,000 transaction significantly impacts GeckoSystems' fiscal status.
CONYERS, Ga., May 23, 2013 /PRNewswire/ -- GeckoSystems International Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) is pleased to announce that due to a recently concluded licensing agreement, the company forecasts over $5,000,000 in initial and ongoing licensing revenues over the 5 year duration of the joint venture contract. For over fifteen years GeckoSystems has dedicated itself to development of "Mobile Robot Solutions for Safety, Security and Service(tm)."
At this time GeckoSystems has secured revenues of $750,000 from this Joint Venture (JV), realized as a result of the now finalized international JV agreement. The JV partnership has experience in entrepreneurship and establishing technological ventures. They have systematically gone through all aspects of operations from the technology and development strategy to deployment, professional services, support, business development, marketing and sales. They chose GeckoSystems because of the low cost, extensibility, portability, and overall robustness of their suite of mobile robot solutions. This reality has the implicit and significant benefit of being "fast to market."
The initial $750,000 transaction significantly impacts GeckoSystems' fiscal status. As corporate guidance, the company expects the income statement to reflect 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 will be due. Gross margin for the year as a percentage of gross revenues will be over 70%. Return on stockholder equity will be over 40%.
"The great thing about this first JV is that it will not only feature SafePath(tm) navigation, but it will showcase other GeckoSystems high level AI software systems and demonstrate that they are as extensible and portable as our navigation system.
"We are not revealing the identity of our new partner at this time due to the intensely competitive nature of this emerging industry. They are now very absorbed in initial product development for a completely new MSR product line based on our proprietary technologies. It is not uncommon for new robotics companies to operate in 'stealth mode' until they can announce significant progress.
"The accelerated rate of joint venture inquires and ongoing discussions that we are experiencing at this time is not happenstance. We have ongoing discussions in the US, Pacific Rim, and the EU. The media has been closely following the usage of teleoperated drones and 'driverless' cars during the last few years; both the public and the investment community are very aware of the utility and cost effectiveness of even these slightly intelligent vehicles.
"GeckoSystems has now undergone a rite of passage, from Development Stage to Emerging Growth; the entire mobile service robot industry will soon be very significant part of our economy. I believe our over 1300 loyal stockholders will soon be very pleased with the return on their investment," concluded Martin Spencer , President/CEO, GeckoSystems.