Investors: Press Release

GeckoSystems' Board Authorizes Additional Share Buy Back

CONYERS, CA--(Marketwire - February 17, 2011) - GeckoSystems Intl. Corp. (PINKSHEETS: GOSY), a dynamic leader in the development and usage of "Mobile Robot Solutions for Safety, Security and Service"™ for the emerging mobile robotics industry, reported today its board of directors recently authorized a 40,000,000 share buy back representing more than 7 percent of the present number of issued and outstanding shares.

"We have long expressed our commitment to increasing stockholder value. At the beginning of this year we bought back 185,000,000 shares that reduced our issued and outstanding over 25 percent. This additional authorized reduction of our outstanding shares by more than 7 percent gives continuing substance to that commitment. This share buy back presents many benefits to our large shareholder base, just as a stock dividend would," said Martin Spencer, President/CEO, GeckoSystems Intl. Corp.

"I am so pleased that we are able to reward our many long time and loyal shareholders with this latest buy back. The last couple of years have been difficult economic times for our small, development stage company," said GeckoSystems' Corporate Secretary/Treasurer Elaine Spencer. "However, we have been able to make the necessary decisions in order to continue with the development of our robot and its technology and to satisfy our many shareholders. I am excited about the many positive activities for GeckoSystems as we move forward into the year 2011."

GeckoSystems has a well-educated and experienced management team that was able to secure its trading symbol by satisfying FINRA's 15c2-11 requirements. Subsequently, GeckoSystems became DTC eligible and a DRS participant to further enhance stockholder liquidity and value.

Martin Spencer stated, "Due to the need for equity financing for high-growth firms, GeckoSystems has worked for more than ten years to become fully reporting as soon as financially viable. In fact, the Company has been successfully audited twice, for two-year periods each, and found to be fully compliant under thorough outside financial audits prepared by SEC-certified CPA firms with the Financial Accounting Standards Board's (FASB's) generally accepted accounting principles (GAAP).

"As a result of the level of risk inherent in high-tech, emerging market development stage firms such as ours, especially during these challenging economic times, we clearly understand that only equity (not debt) instruments can provide sufficient return on investment (ROI) for investors to assume the risk of purchasing any high tech, emerging market stock such as GOSY," continued Spencer. "Hence our long-time efforts in this regard, and determination to continue our move upward to not only a more pronounced domestic stock exchange, but also those with international reach, such as OTCQX."

"We will complete this buy back forthwith to once again demonstrate our commitment to increasing stockholder value to our approximately 1,400 small investors. We plan to effectuate more GOSY stock buy backs to further reduce the number of shares issued and outstanding until such time our price per share is no longer severely undervalued," concluded Spencer.

The 2011 outlook is exceptionally positive with numerous licensing initiatives presently in Japan and Europe, plus a significant technological breakthrough in GeckoImager™. These advances are expected to open up more markets in the near term. Plus, GeckoSystems' elder care robot trials are expected to exceed expectations while providing a cost effective benefit for potentially millions of American families.

GeckoSystems has learned that the management at many assisted care facilities must address the harsh reality of immediate relocation. When moving an elderly care receiver to a facility capable of managing a new, higher level of care giving, the primary caregiver now has to manage not only the emotional cost of the move (further loss of independence, dignity for their parents, spouse, etc.), but the burden of a dramatic increase in the monthly monetary cost of providing safety and security for their elderly loved one.

In the foregoing scenario, upgrading with GeckoSystems' new GeckoNav™ Wheelchair Kit (GWK001), would forestall that forced relocation and its implicit emotional trauma, while paying for itself in only 2-3 months. This is a very significant market with a critically needed solution. The recent invention of the GeckoImager™ -- in unison with their many proprietary mobile robot solutions -- enables the company to cost effectively provide kits to retrofit and upgrade electric wheelchairs to be "collision proof."

"The 'collision proof' retrofit kit we are presently developing may be added to most joystick operated electric wheelchairs. The wheelchair occupant would simply move the joystick in the direction they wish to go and GeckoNav™ -- in concert with multiple GeckoSavants™ -- would automatically seek that desired direction while avoiding any and all obstacles whether stationary or moving," said GeckoSystems President/CEO Martin Spencer. "We expect the cost to the end user, completely installed, to be only a few thousand dollars for this heightened level of safety for not only the occupant of the wheelchair, but also those persons around them."

GeckoSystems recently announced that GeckoImager™ uses sensor fusion incorporating structured light machine vision and sonar range finding to compliment GeckoOrient's™ solid-state compass, accelerometer and odometry sensor fusion. This provides its automatic, self-navigation artificial intelligence (AI) software, GeckoNav™, with sufficient and timely data to achieve actionable situation awareness while providing a very safe, loose crowd level of autonomy to be "collision proof."

"The amount of data that the new GeckoImager provides is far greater than what can reasonably be collected with fixed sensors and at a much lower cost than scanning laser range finding systems that are frequently used," said Kevin O'Connor, Sr. EE Roboticist, Research and Development, GeckoSystems.

"Our new GeckoImager™ sensor fusion system not only provides timely and actionable situation awareness information sufficient for our AI navigation software, GeckoNav™, it also simultaneously satisfies those requirements at a much lower cost, in both dollars and power."

Presently, the company is continuing its market research for this business-to-business (B2B) market place using the Delphi Method. As previously announced, the recent sensor fusion breakthrough of the GeckoImager may enable some near term B2B niche retrofit markets. Potential sales forecasts for this B2B market are being developed as manufacturing costs and market size become more clearly understood.

"During the past year, our world's first in home elder care robot trials have garnered many inquiries regarding our business model, technologies available for licensing and interest in joint domestic and international ventures," said Spencer. "Our GeckoImager™ breakthrough enables some near-term B2B niche retrofit markets such as a 'collision proof' electric wheelchair. While we continue to expect technology-licensing revenues to precede revenues levels from product manufacturing and sales, this new B2B opportunity will be carefully reviewed for near-term benefits. This augurs well for increased ROI and shareholder value for our nearly 1,400 investors."

Interested manufacturers, distributors, and/or dealers inquiries welcomed at 1-866-CAREBOT (227-3268)


Download Full-Text PDF