Investors: Press Release
GeckoSystems Signs Manufacturing Contract to Expand Elder Care Robot Trials
CONYERS, Ga., Sept. 7, 2010 -- GeckoSystems Intl. Corp. (PINKSHEETS: GCKO) -- GeckoSystems Intl. Corp. (Pink Sheets: GCKO) announced today that they have signed a contract with Regal Research and Mfg. Co. in Plano, TX, that will further enable the expansion of their ongoing elder care robot trials. 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™."
"While the difficulty in developing cost effective, truly utilitarian mobile robot solutions is 85-90% software R&D, the cost drivers and long lead time materials for manufacturing are the mechanical systems, such as all the subassemblies that constitute the GeckoFrame(tm). Even though commercial off the shelf (COTS) electronics, electro mechanicals, and mechanical subsystems are used extensively, in order to hold "touch labor" costs at a minimum, an experienced, skilled and professionally managed contract manufacturer must be identified with experience in mechanical fabrication and assembly, and partnered with in order to hold total direct manufacturing costs to the lowest possible level. Additionally the contract manufacturer must have the resources that will enable them to scale production up rapidly in the event that the anticipated hyper growth due to pent up demand occurs.
"We are pleased to report that we have found these capabilities and qualities in Regal and look forward to our developing relationship as we continue to progress in the expansion of our elder care robot trials. We executed our non-disclosure agreement (NDA) with them some months ago and just recently signed our first contract with them. We expect delivery of the first critical, custom parts designed by our recently hired mechanical designer by late September, but no later than mid October.
"We have several other, very sensitive discussions occurring at this time with notable potential suppliers, and customers, both in the US and Japan. Despite having non-disclosure agreements (NDA's) in place with several of them, we expect to identify more demonstrable progress, if not outright, successes in the near term.
"Since beginning these world's first trials, we have learned that valued family behaviors can be readily expressed to the care receiver using a CareBot due to the robustness of its functionality. There seems to be a very important positive --and unforeseen by some parties-- impact of valued family behaviors for all members in using a CareBot to communicate their thoughts and feelings to their beloved family members," commented Martin Spencer, President/CEO, GeckoSystems.
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.
The elderly frequently endure loneliness and/or loss of independence when living in nursing homes or other assisted living facilities. This new type of remote medical monitoring system, a CareBot, will postpone, if not eliminate that trauma to them. Their families can now better manage the difficult decisions regarding the independence they allow their now dependent parent while enabling the caregiver to hold their risk at a tolerable and acceptable level.
"Since late last year, we have been conducting these world's first elder care robot trials. We have learned a great deal about expected and unexpected human to machine interactions in an elder care setting. Our expectations of anticipated benefits have been, in some instances, much more gratifying than we believed prior to initiating these trials. Consequently our conviction as to there being extraordinary pent up demand for personal assistance robots, like our CareBot, bode well for the ROI that our nearly 1400 investors expect and deserve," concluded Spencer.