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GeckoSystems Discusses Elder Care Robot Manufacturability to Address Pent Up Demand
(Market Wire Via Acquire Media NewsEdge) CONYERS, GA -- (MARKET WIRE) -- 11/24/09 --
GeckoSystems Intl. Corp. (PINKSHEETS: GCKO)
(http://www.geckosystems.com/) -- announced today that since their first
annual "Mobile Robots in Motion" conference earlier this month, they have
been solicited by another first tier contract manufacturer interested in
the high volume manufacture of their product line. 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(TM)."
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
upcoming discussions, I feel it is in the best interest of all parties
involved to withhold the name of this contract manufacturing company at
this time. This new solicitation from another first tier contract
manufacturer is particularly gratifying since they already manufacture a
military robotic platform for one of our competitors."
GeckoSystems' first commercial product, the CareBot(TM), has been carefully
designed for manufacturability for over ten years. Sixty percent of its
direct cost of manufacture can be imported in container quantities readily.
These are the systems and subsystems such as low power, low clock x86 Mini
ITX motherboards, laptop hard drives, WiFi routers, webcams, audio
amplifiers, DC drive motors, drive wheels, casters, etc. In defense
industry parlance these are "commercial off the shelf" or COTS. The next
twenty percent of direct manufacturing costs comes from the production of
the custom hardware boards the company has developed to enable
GeckoOrient(TM), GeckoSPIO(TM), GeckoMotorController(TM), etc. These
custom printed circuit boards are populated with commodity parts readily
available from sources like DigiKey, etc. The final twenty percent of
direct cost of manufacturer comes from the custom sheet aluminum
GeckoFrame(TM) and thermoformed plastic GeckoShroud(TM).
Over the last ten years GeckoSystems has had intimate discussions with
numerous ISO certified contract manufacturers regarding their robot
caregiver. In all instances they have told the company that the "economic
order quantity" (EOQ) was twenty to thirty platforms, not hundreds as one
might otherwise expect.
"When I joined GeckoSystems several years ago, I was pleased to learn of
their long term emphasis on 'design for manufacturability.' To that end,
the systems which I have refined and enhanced have always been performed
with ease of low cost fabrication, assembly, configuration and calibration
as primary goals," remarked Mark Peele, Vice President, R&D, GeckoSystems.
"Due to the foregoing realities, we have successfully kept this entry
barrier very low for us by not having to produce five hundred CareBots in
the first batch, but only twenty-five. This will enable us to expand our
in home evaluation trials readily and ramp into production of one thousand
CareBots per month within six months. This will better enable us to meet
the pent up demand in eldercare for caregiving robots and increase ROI for
our investors," observed Spencer.
"For the last several years, the U.S. 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," reflected Spencer.
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 minimizing the risk the adult care giver is willing
to assume for a prudent level of independence for their now reliant parent.
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(TM) is expected to be only
six to eight months while keeping elderly care receivers independent, in
their own long time 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 2010 to be $74.0B,
in 2011 to be $77B, in 2012 to be $80B, in 2013 to be $83.3B, and in 2014
to be $86.6B. With market penetrations of 0.03% in 2010, 0.06% in 2011,
0.22% in 2012, 0.53% in 2013, and 0.81% in 2014, 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," concluded 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, such as those afflicted with Alzheimers, etc, or
already 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.
Like an automobile, mobile robots are made from steel, aluminum, plastic,
and electronics, but with ten to twenty times the amount of software
running. The CareBot has an aluminum frame, plastic shroud, two
independently driven wheels, multiple sensor systems, microprocessors and
several onboard computers connected in a local area network (LAN). The
microprocessors directly interact with the sensor systems and transmit data
to the onboard computers. The onboard computers each run independent,
highly specialized cooperative/subsumptive artificial intelligence (AI)
software programs, GeckoSavants(TM), which interact to complete tasks in a
timely, intelligent and common sense manner. GeckoNav(TM), GeckoChat(TM)
and GeckoTrak(TM) are primary GeckoSavants. GeckoNav is responsible for
maneuvering, avoiding dynamic and/or static obstacles, seeking waypoints
and patrolling. GeckoChat is responsible for interaction with the
care-receiver such as answering questions, assisting with daily routines
and reminders, and responding to other verbal commands. GeckoTrak, which is
mostly transparent to the user, enables the CareBot to maintain proximity
to the care-receiver using sensor fusion. The CareBot is an Internet
appliance that is accessible for remote video/audio monitoring and
telepresence.
About GeckoSystems International Corporation:
Since 1997, GeckoSystems has developed a comprehensive, coherent, and
sufficient suite of hardware and software inventions to enable a new type
of home appliance (a personal companion robot) the CareBot(TM), to be
created for the mass consumer marketplace. The suite of primary inventions
includes: GeckoNav(TM), GeckoChat(TM) and GeckoTrak(TM).
The primary market for this product is the family for use in eldercare,
care for the chronically ill, and childcare. The primary distribution
channel for this new home appliance is the thousands of independent
personal computer retailers in the U.S. The manufacturing infrastructure
for this new product category of mobile service robots is essentially the
same as the personal computer industry. Several outside contract
manufacturers have been identified and qualified their ability to produce
up to 1,000 CareBots per month within four to six months.
The Company's "mobile robot solutions for safety, security and service(TM)"
are appropriate not only for the consumer, but also professional
healthcare, commercial security and defense markets. Professional
healthcare require 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.
The Company's business model is very much like that of an automobile
manufacturer. Due to the final assembly, test, and shipping being done
based on geographic and logistic realities; strategic business-to-business
relationships can range from private labeling to joint manufacturing and
distribution to licensing only.
Several dozen patent opportunities exist for the Company due to the many
innovative and cost effective breakthroughs embodied not only in GeckoNav,
GeckoChat, and GeckoTrak, but also in additional, secondary systems that
include: GeckoOrient(TM), GeckoMotorController(TM), the
GeckoTactileShroud(TM), the CompoundedSensorArray(TM), and the
GeckoSPIO(TM).
The present senior management at GeckoSystems has over thirty-five years
experience in consumer electronics sales and marketing and product
development. Senior managers have been identified for the areas of
manufacturing, marketing, sales, and finance.
While GeckoSystems has been in the Development Stage, the Company has
accumulated losses to date in excess of six million dollars. In contrast,
the Japanese government has spent one hundred million dollars in grants (to
Sanyo, Toshiba, Hitachi, Fujitsu, NEC, etc.) over the same time period to
develop personal robots for their eldercare crisis, yet no viable solutions
have been developed.
By the end of this year, the Company plans to complete productization of
its CareBot offering with the introduction of its fourth generation
personal robot, the CareBot 4.0 MSR. The Company expects to be the first
personal robot developer and manufacturer in the world to begin in-home
eldercare evaluation trials.
What Does a CareBot Do for the Care Giver?
The short answer is that it decreases the difficulty and stress for the
caregiver that needs to watch over Grandma, Mom, or other family members
most, if not much, of the time day in and day out due to concerns about
their well being, safety, and security.
But, first let's look at some other labor saving, automatic home appliances
most of us use routinely. For example, needing to do two or more necessary
chores and/or activities at the same time, like laundering clothes and
preparing supper.
The automatic washing machine needs no human intervention after the dirty
clothes are placed in the washer, the laundry powder poured in, and the
desired wash cycle set. Then, this labor saving appliance runs
automatically until the washed clothes are ready to be placed in another
labor saving home appliance, the automatic clothes dryer. While the clothes
are being washed and/or dried, the caregiver prepares supper using several
time saving home appliances like the microwave oven, "crock" pot, blender,
and conventional stove, with possible convection oven capabilities. After
supper, the dirty pots, pans, and dishes are placed in the automatic
dishwasher to be washed and dried while the family retires to the den to
watch TV, and/or the kids to do homework. Later, perhaps after the kids
have gone to bed, the caregiver may then have the time to fold, sort, and
put up the now freshly laundered clothes.
So what does a CareBot do for the caregiver? It is a new type of labor
saving, time management automatic home appliance.
For example, the caregiver frequently feels time stress when they need to
go shopping for 2 or 3 hours, and are uncomfortable when they have to be
away for more than an hour or so. Time stress is much worse for the
caregiver with a frail elderly parent that must be reminded to take
medications at certain times of the day. How can the caregiver be away for
3-4 hours when Grandma must take her prescribed medication every 2 or 3
hours? If the caregiver is trapped in traffic for an hour or two beyond
the 2 or 3 they expected to be gone, this "time stress" can be very
difficult for the caregiver to moderate.
Not infrequently, the primary caregiver has a 24 hour, 7 days a week
responsibility. After weeks and weeks of this sometimes tedious, if not
onerous routine, how does the caregiver get a "day off?" To bring in an
outsider is expensive (easily $75-125 per day for just 8 hours) and there
is the concern that medication will be missed or the care receiver have an
accident requiring immediate assistance by the caregiver, or someone they
must designate. And the care receiver may be very resistant to a "stranger"
coming in to her home and "running things."
So what is it worth for a care receiver to have an automatic system to help
take care of Grandma? Just 3 or 4 days a month "off" on a daylong shopping
trip, a visit with friends, or just take in a movie would cost $225-500 per
month. And that scenario assumes that Grandma is willing to be taken care
of by a "stranger" during those needed and appropriate days off.
So perhaps, an automatic caregiver, a CareBot, might be pretty handy, and
potentially very cost effective from the primary caregiver's perspective.
What Does a CareBot Do for the Care Receiver?
It's a new kind of companion that always stays close to them enabling
family and friends to care for them from afar. It tells them jokes, retells
family anecdotes, reminds them to take medication, reminds them that family
is coming over soon (or not at all), recites Bible verses, plays favorite
songs and/or other music. It alerts them when unexpected visitors, or
intruders are present. It notifies designated caregivers when a
potentially harmful event has occurred, such as a fall, fire in the home,
or simply been not found by the CareBot for too long. It responds to calls
for help and notifies those that the caregiver determined should be
immediately notified when any predetermined adverse event occurs.
The family can customize the personality of the CareBot. The voice's
cadence can be fast or slow. The intonation can be breathy, or abrupt. The
voice's volume can range from very loud to very soft. The response phrases
from the CareBot for recognized words and phrases can be colloquial and/or
unique to the family's own heritage. The personality can range from brassy
to timid depending on how the caregiver, and others appropriate, chooses it
to be.
Generally, the care receiver is pleased at the prospect of family being
able to drop in for a "virtual visit" using the onboard webcam and video
monitor for at home "video conferencing." The care receiver may feel much
more needed and appreciated when their far flung family and friends can
"look in" on them any where in the world where they can get broadband
internet access and simply chat for a bit.
Why is Grandma really interested in a CareBot? She wants to stay in her
home, or her family's home, as long as she possibly can. What's that
worth? Priceless. Or, an average nursing home is $5,000 per month for an
environment that is too often the beginning of a spiral downward in the
care receiver's health. That's probably $2-3K more per month for them to
be placed where they really don't want to be. Financial payback on a
CareBot? Less than a year -- Emotional payback for the family to have this
new automatic care giver? Nearly instantaneous-
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.
Contact:
www.GeckoSystems.com
or
Main number: 1-866-227-3268
International: +1 678-413-9236
Investor Relations:
Direct line: 1-678-413-1640
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