Investors: Press Release
GeckoSystems in Negotiations with Major Intl. Retailer to Sell Personal Robots
CONYERS, Ga., Apr. 9, 2010 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -- -- reported today that a major international consumer electronics retailer has expressed heightened interest in purchasing, distributing and selling GeckoSystems' first product, the CareBot. GeckoSystems is a dynamic leader in the emerging mobile robotics industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security, and Service".
Martin Spencer, President/CEO of GeckoSystems stated: "As all of us here at GeckoSystems are excited about this development, due to the nature of the ongoing negotiations I feel it is in the best interest of all parties involved to withhold the name of this international firm at this time. The upcoming meetings, demonstrations, and potential outcome(s) of it is something that has been in the works since our founding and is now coming to what looks to be an extraordinarily profitable culmination. I believe their interest in us is due to the reality that we have a new consumer product, a complete multitasking personal robot, the CareBot. We are now in the world's first in home elder care robot trials."
This retailer has operations in the US, Canada, and Mexico, They are a multinational retailer of technology and entertainment products and services. Their family of companies collectively generates more than $40 billion in annual revenue. Over 100,000 employees apply their talents to help bring the benefits of their product and service offerings to retail customers.
The scope of the US consumer market for truly utilitarian, cost effective personal robots is enormous. In the January 2007 issue of "Scientific American," Bill Gates, co-founder and chairman of Microsoft, the world's largest software company, authored "A Robot in Every Home" with discussions as to why he expects that reality sooner than later. There are 110+ million homes in the US.
"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. This augurs well for our stockholders," opined Spencer.