Investors: Press Release
GeckoSystems To Discuss Pent Up Demand for Elder Care Robots at Conference
CONYERS, GA, -- February 22, 2010 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -- announced today that they will be discussing the statistical basis for their forecasts of pent up demand for their eldercare capable personal robot, the CareBot™, at their March 24-25 "Mobile Robots in Motion" conference. GeckoSystems is a dynamic leader in the emerging Mobile Service Robot industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security, and Service™."
This new type of modern eldercare will postpone, if not eliminate, many elderly persons from having to endure the loneliness and loss of independence due to leaving their own homes and living in nursing homes and other assisted living facilities. Their families can now better manage the difficult decisions regarding independence they allow their now dependent aged parent while minimizing the concern and risk the adult care giving child is willing to assume to enable an acceptable level of independence and consequent risk (to the care giver) for their now dependent parent.
"For the last several years, the US eldercare crisis is commonly portrayed as 'not happening' until the baby boomers reach the age of great reliance on their children and younger family members. The truth of the matter, since the US is the only country in the top ten of the world's industrialized nations without national healthcare, is that we really don't have solid statistics for our true 'bottom line' annual US eldercare costs. Many middle class baby boomers are presently suffering significant financial, time and emotional pressures attempting to care for their surviving WWII and Korean War era parents," observed Martin Spencer, President/CEO, GeckoSystems.
At the time of the company's founding, extensive primary market research was performed to determine the demographic profiles and the market segments appropriate to identify the probable early adopters of eldercare capable personal robots. Not surprisingly the scientific statistical analyses revealed that elderly over 65 living alone in metropolitan areas with broadband Internet available and sufficient household incomes to support were identified as those most likely to adopt initially. Using U.S. Census Bureau data from the 2000 census the pent-up demand, to the degree possible for metro areas only, is -to those not privy to this type of statistical analysis- nearly unbelievable. Due to the high cost of assisted living, nursing homes, etc. the payback for a CareBot™ is expected to be only six to eight months while keeping elderly care receivers independent, in their own homes, and living longer due to the comfort of more frequent attention from their loved ones.
"We project the available market size in dollars for cost effective, utilitarian, multitasking eldercare personal robots in 2011 to be $74.0B, in 2012 to be $77B, in 2013 to be $80B, in 2014 to be $83.3B, and in 2015 to be $86.6B. With market penetrations of 0.03% in 2011, 0.06% in 2012, 0.22% in 2013, 0.53% in 2014, and 0.81% in 2015, we will anticipate CareBot sales, from this consumer market segment, only, of $22.0M, $44.0M, $176M, $440.2M, and $704.3M, respectively. We expect these sales despite --and perhaps because of-- the present recession due to pent up demand for significant cost reduction in eldercare expenses," opined Spencer.
The foregoing forecasts do not include sales in non-metropolitan areas; elderly couples over 65 (only elderly living alone are in these forecasts); those chronically ill --regardless of age-- or elderly living with their adult children.
Some believe that the technology is approved and paid for through options such as the Assistive Technology Act of 1998, which broadens the definition, use, and funding of technology at home. Other sources include long-term care insurance, Medicare and Medicaid, Medicaid waivers, and (potentially) stimulus funds from the American Recovery and Reinvestment Act of 2009, under the provisions for health information technology and electronic medical records for acute care.
Discussions and live demonstrations of many, if not most, GeckoSystems' mobile robot solutions such as GeckoNav™, GeckoChat™, GeckoTrak™, GeckoScheduler™, GeckoZap™, GeckoOrient™, GeckoSPIO™, GeckoMotorController™, the CompoundedSensorArray™, etc. will be presented during this two day conference. This conference with its live demonstrations will enable many industry observers and investors to witness and determine for themselves the proximity to market and consumer acceptance GeckoSystems' first product, the CareBot, will enjoy. Additionally they will be better able to evaluate the probability of income streams from technology licensing and applicability in other markets besides the consumer, such as commercial security, commercial cleaning, public safety, professional healthcare, government systems, agriculture, and education.
"One of the many reasons we had our conference last fall, and another scheduled for this March, is that 'the proof of the pudding is in the eating.' In other words, very few people have ever seen a personal companion robot in action and consequently do not understand how difficult our many inventions were to achieve or the scope of their applications. However, live demonstrations give our suite of enabling, proprietary technologies credence and value. We have several large markets before us due to our 'first mover' advantage in them. We are hopeful that some of the firms with which we are having licensing discussions regarding usage of some our technologies will also be in attendance," concluded Spencer.
Journalists are encouraged to contact Mr. Spencer regarding the progress of GeckoSystems' in home evaluation trials and potential attendance at their upcoming invitation only "Mobile Robots in Motion" conference. Journalists and other interested parties may submit their request for an invitation at their website or call 678-413-9236.