CONYERS, Ga., April 16, 2012 /PRNewswire/ -- GeckoSystems
Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) --
is closely reviewing the scope and size of the European market
for its "SafePath Enabled(tm)" wheelchair technology. As a
result of recent enhancements to GeckoNav(tm), the company is now
calling their suite of fundamental mobile robot solutions for
automatic, self-navigation: "SafePath Enabled(tm)." GeckoSystems is
a dynamic leader in the emerging mobile robotics industry,
revolutionizing the development and usage of "Mobile Robot
Solutions for Safety, Security and Service(tm)."
The number of wheelchairs per year projected for sale in the
European market:
France...........................110,000
Germany........................120,000
United Kingdom..............270,000
Italy...............................100,000
Rest of Europe...............270,000
Total for Europe.............870,000
Assuming only 10% of those purchasers need and can afford a
SafePath Enabled chair upgrade, annual market projections for this
market would be 87,000 SafePath wheelchairs. If the company earns
only $100 per wheelchair, annual
revenues from this niche market for GeckoSystems would be
$8,700,000. More realistically,
the licensing per wheelchair would run $250 per unit and 25% of the chairs sold annually
would have the SafePath upgrade. This would result in
$54,375,000 in annual revenues for
GeckoSystems.
Additionally, GeckoSystems anticipates marketing automatically
calibrated SafePath retrofit kits. Estimated sales of the
kits would be 87,000 units for the first several years.
Demand would taper off as pent up demand is satisfied. These
kits would require software licensed exclusively from GeckoSystems
and the company anticipates additional revenues of $8.7 to $54.3 million per year from this royalty
stream within EU markets only.
On the competitive horizon, the robot wheelchair market in
Europe has these potential
competitors doing research: (From "Market Evaluation for Colchester
Catalyst on the use of Robotic Wheelchairs" See note 1.)
Smart Rehab (UK)
Roma Medical (UK)
Sunrise Medical (UK)
Pride Medical (USA and UK)
Invacare (UK)
Exact Dynamics (Netherlands)
Bluebotics (Switzerland)
Meyra-Ortopedia (Germany)
TopChair (France)
In March of last year, GeckoSystems announced their first
Japanese order with the oldest Japanese wheelchair manufacturer,
Imasen Engineering, to upgrade two of their power wheelchairs to be
"collision proof". This order to upgrade was secured through the
joint efforts of GeckoSystems' long time Japanese business
development representative, Mr. Hajime
Yasumatsu (Chairman of Yasu, Inc.) and a recently signed
representative, Mr. Tsunenuri Kato (President/CEO of ifoo Co.,
Ltd).
http://www.geckosystems.com/investors/press_releases/20110317_GeckoSystems_SellsMobileRobotSolutions.php
SafePath technology is the innovative navigation system created
by GeckoSystems that merges robotic technology with traditional
steering, locomotion and automatic guidance systems. SafePath
goes beyond the collision avoidance systems now being used in
automobiles and other applications. SafePath lets the user
"joystick specify" a destination and achieve it while the system
takes over collision avoidance and speed adjustment as directed by
the user. GeckoSystems anticipates commercial production of the
first "SafePath Enabled™" wheelchair by the end of
2012, in a joint venture facility now under construction in Nanle,
China.
http://www.geckosystems.com/partners/index.php
SafePath navigation can be migrated to all existing mobile
robotics applications. In addition it can be an upgrade to
non-robotic applications such as the automobiles, military vehicles
(including land mine detection systems), airport luggage/passenger
carts, industrial transportation, and power wheelchairs.
http://www.geckosystems.com/markets/wheelchair.php
"We have worked for nearly fifteen years developing 'Mobile
Robot Solutions for Safety, Security, and Service™'
and we are very pleased that our first commercial robotic
application will be the SafePath Enabled wheelchair for markets
such as Japan, China and Europe. We feel privileged to
have an opportunity to help disabled persons in Europe to live with greater independence and
dignity despite their confinement to a wheelchair," stated
R. Martin Spencer, President/CEO,
GeckoSystems Intl. Corp.
Note 1:
"Market Evaluation for Colchester Catalyst on the use of Robotic
Wheelchairs"
TECHNICAL REPORT: CES-514
John Oyekan and Huosheng Hu
School of Computer Science and Electronic Engineering
University of Essex
Wivenhoe Park
Colchester CO4 3SQ, United Kingdom
26th of August 2011
About Yasu, Inc.:
Yasu is a U.S. corporation domiciled in Missouri that provides professional services
including business development support, networking events,
extensive market intelligence, access to bilingual Japanese
businesses, and English to Japanese translation of sales and
technical information.
About Imasen Engineering Corporation:
Imasen electric wheelchairs are dedicated to the pursuit of
safety and comfort, designed to be an indispensable and supportive
component of one's life. They have been developed not only to be
comfortable for the rider, but also easy for caretakers to operate,
easy on the environment, and pleasant to look at with an attractive
design.
http://www.imasengiken.co.jp/en/index.html
About ZMP:
GeckoSystems is proud to announce their collaboration with
ZMP and has prepared an overview of the company for the U.S.
investment community on their website. This page of introduction
has been reviewed and authorized by ZMP management in Japan.
http://www.geckosystems.com/partners/about_zmp.php
ZMP has an outstanding record of innovation and co-operation
within the robotics community. ZMP was born out of the Kitano
Symbiotic Systems Project, which was sponsored by the Japanese
government to push technology forward. ZMP collaborates regularly
with Japanese Universities and Technological Institutions and
provides robotic teaching tools.
In 2008 ZMP began a collaborative effort with three other
Japanese companies, Business Design Laboratory (BDL) Nagoya, Vstone Co. of Osaka and Tmsuk of Fukuoka. The purpose
of this group effort was to improve the competitive position of
Japanese robotics in the face of the Korean government's strong
government support of the robotics industry. These four
Japanese companies joined together for cooperative research,
development and marketing of next generation robotic applications
for home and consumer use.
http://translate.google.com/translate?hl=en&sl=ja&tl=en&u=http%3A%2F%2Fwww.zmp.co.jp%2Fip%2F
About GeckoSystems Intl. Corp.:
GeckoSystems has been developing innovative robotic
technology for over fourteen years. It is CEO Martin Spencer's dream to make people's lives
better through robotic technology.
GeckoSystems, Star Wars™ Technology
http://www.youtube.com/watch?v=VYwQBUXXc3g
Although the company's primary focus has been an elder care
robot, the CareBot(tm), AI (artificial intelligence) software
technology developed for this project is being marketed
internationally. The company believes many devices in use
today can be improved through the use of its AI navigation software
system. The company expects their "SafePath Enabled"
wheelchair and an upgrade for existing wheelchairs will be on the
market sometime in 2012.
GeckoSystems' Mobile Robot Solutions Improve Wheelchair
Safety
http://www.geckosystems.com/markets/wheelchair.php
The Company's "mobile robot solutions for safety, security and
service" are appropriate not only for the consumer, but also
professional healthcare, commercial security and defense markets.
Professional healthcare requires 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.
GeckoSystems stock is quoted in the U.S. over-the-counter
(OTC) markets, on the Pink OTC Current Information tier, under the
ticker symbol GOSY.
Telephone:
Main number: 1-866-CAREBOT (227-3268)
International: +1 678-413-9236
Fax: +1 678-413-9247
Safe Harbor:
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.
SOURCE GeckoSystems Intl. Corp.
