OTC Disclosure & News Service
GeckoSystems Clarifies Trading Symbol Origin
May 27, 2009
OTC Disclosure & News Service
Conyers, GA -
CONYERS, Ga., May 27, 2009 -- GeckoSystems Intl. Corp. (Pink Sheets: GCKO) made clear today that their Pink Sheet trading symbol, GCKO, was awarded by FINRA as a result of satisfying all their due diligence requirements from the filing of a 15c211. GeckoSystems is a dynamic leader in the emerging Mobile Service Robot (MSR) industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service.(tm)"
"We worked for nearly a year in preparing our initial 15c211 submission to and addressing the comments of FINRA prior to their issuance of our trading symbol, GCKO. A boutique brokerage firm in Los Angeles, BMA Securities, sponsored us. Our initial and subsequent submissions to FINRA were reviewed and prepared by our attorney at Sichenzia, Ross, Friedman & Ference, LLP. 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," stated Martin Spencer, President/CEO, GeckoSystems.
"While it may be uncommon for a company that is trading in the pink sheets, to not be a 'shell or blank check' company, we are not, and never have been, a 'shell or blank check' company. To further substantiate the legitimacy of that foregoing statement, we have posted a copy of an affidavit in the OTC Disclosure & News Service section at PinkSheets.com under our symbol, GCKO, and in the Investors section of our website. This is a notarized affidavit from me. The original of this affidavit is on file at our transfer agent, Continental Stock Transfer & Trust Company per their request. This document attests, without equivocation, that we have never been a 'shell or blank check' company," concluded Spencer.
In the last few months FINRA has initiated several programs focused on eliminating, if not dramatically reducing, the number of illicit, or unauthorized shares not infrequently issued by "shell" companies. Often these illicitly gained shares are used to exploit the typical trading price of the "shell" company's stock to the detriment of the legitimate shareholders due to the price of the shares being driven down by "stolen shares" sold into the normal marketplace.
Since GeckoSystems secured its trading symbol by successfully satisfying FINRA's due diligence requirements in the 15c211 process, the Company has no unaccounted for, or otherwise missing, shares outstanding and issued.
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 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 factual basis for the Company's sales forecasts.
The Company's "mobile robot solutions for safety, security and service(tm)" 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 Japanese. The Company, however, has a viable product, the CareBot, 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.
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.
Investor Relations: 1-866-227-3268
International: +1 678-413-9236
CareBot, GeckoNav, GeckoChat, GeckoTrak, GeckoOrient, GeckoMotorController, GeckoTactileShroud, CompoundedSensorArray, GeckoSPIO, GeckoFrame, and GeckoScheduler are the exclusive trademarks of GeckoSystems Intl. Corp. All Rights Reserved.
Source: GeckoSystems Intl. Corp.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.