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Financial compliance reasons why GOSY is undervalued:
1. Compliance with Federal Accounting Standards Board's (FASB, http://www.fasb.org/ ) Generally Accepted Accounting Principles (GAAP) distorts the true economic condition and performance of the company.
This is due to the requirement to expense 100% of all R&D in the year incurred. Hence a complete writeoff of all R&D expenditures, regardless of present and/or future value to ZERO. This required compliance with GAAP forces the Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
2. Federal and state tax laws also distort the true economic condition and performance of GOSY.
This is due to the requirement to prepare financials in accordance with FASB 's GAAP for tax filings. This required compliance with GAAP forces GOSY as a Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
3. European Unon (EU) accounting standards, if applied to GOSY's financials, would portray the true economic condition and performance of the company much more realistically.
This is due to the requirement to expense only 50% (not 100%) of all R&D in the year incurred. Hence since not a 100% writeoff, 50% is carried as assets on the balance sheet. This fairly reflects the net worth of a Development Stage company from the EU perspective. The EU requires only a 50% writeoff of all R&D expenditures. This simple accounting change would dramatically flip GOSY's net worth and stockholder equity deep into positive territory.
This required compliance with GAAP forces GOSY --as a Development Stage company-- to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
4. Ignoring discounted cash flow (DCF) analyses of GOSY's financial pro formas lowers the net present value (NPV) of future net profits of GOSY regardless of hurdle rate (minimum ROI) determined as sufficient for the level of risk.
Ignoring increased stockholder dividends due to significant tax loss carry forwards (which reduces taxes due for several years and hence increases the aftertax income available for distribution as stock dividends to stockholders) distorts by lowering the net present value (NPV) of future dividend payments to GOSY stockholders regardless of hurdle rate used.
The long and short of it all?
GOSY's $8,000,000 in expenditures the last 15 years does not show up on the Balance Sheet due to compliance with GAAP.
NOT because GOSY's IP has little or no value.
That reality definitely undervalues GOSY's IP!
mo-
Mech
GOSY Shorted 74% Yesterday!
http://otcshortreport.com/index.php?index=gosy&action=view
This is yet another reason why Wallace, MacLeod et al will be investigated by the FBI for Criminal RICO-
mo-
Mech
Donnelly obviously prepared a CHEAP, incomplete opinion letter, imho-
Here's why, contrary to all of Wallace's propaganda exalting Donnelly's pitiful opinion letter:
NONE of Spencer's stock will be sold...
...by Neil Wallace, his parents, the "sheriff," or anyone else.
The IRREFUTABLE reasons why it CANNOT happen are:
1. The proposed sale VIOLATES Federal securities laws, specifically Rule 144 which governs the sale of all restricted stock, REGARDLESS of WHO is doing the selling or the circumstances.
Rule 144 REQUIRES that ONLY FINRA/SEC brokers execute ANY and ALL sales.
Further, Rule 144 does NOT allow Beneficial Owners (those that hold more than 5% of the issued and outstanding) to sell more than 1% of the issued and outstanding per 90 day period. The SEC has this long standing reg in place to protect stockholders from the type of illegal shenanigans that Wallace et al are attempting to pull off. That is only 5M or so shares PER 90 days!
http://geckosystems.com/W_W_W/Appelants_Reply_Brief.pdf
So the sheriff does not have to comply with ALL of Rule 144's regs?
SURE, they do!
BECAUSE:
2. Federal law ALWAYS trumps state law.
Whenever state law conflicts with Federal law, FEDERAL ALWAYS prevails and precludes enforcement of any and all state laws that conflict with Federal laws.
3. GOSY's DE attorney has demonstrated competence MANY times.
Wallace has NEVER collected ANYTHING in the 5 years of his FAILED attempts to collect monies from GOSY and/or the Spencers NOT legitimately earned by him or allegedly due his parents.
Therefore, NONE of Spencer's stock CAN be sold by Neil Wallace, his parents, the "sheriff," or anyone else.
In conclusion, the Spencers will NOT be losing majority control of GOSY since their 51% ownership is in preferred GOSY shares is NOT at risk in ANY manner, or have ANY of their common stock holdings sold, either.
Wallace has chosen to not make public the so called opinion letter he hee haws about being the "end all" solution supporting his position. Of course he won't since his position is INDEFENSIBLE.
facts remain facts-
Mech
Sooooooooooooooooooo........................... I am R.I.G.H.T !
NONE of Spencer's stock will be sold...
...by Neil Wallace, his parents, the "sheriff," or anyone else.
The IRREFUTABLE reasons why it CANNOT happen are:
1. The proposed sale VIOLATES Federal securities laws, specifically Rule 144 which governs the sale of all restricted stock, REGARDLESS of WHO is doing the selling or the circumstances.
Rule 144 REQUIRES that ONLY FINRA/SEC brokers execute ANY and ALL sales.
Further, Rule 144 does NOT allow Beneficial Owners (those that hold more than 5% of the issued and outstanding) to sell more than 1% of the issued and outstanding per 90 day period. The SEC has this long standing reg in place to protect stockholders from the type of illegal shenanigans that Wallace et al are attempting to pull off. That is only 5M or so shares PER 90 days!
http://geckosystems.com/W_W_W/Appelants_Reply_Brief.pdf
So the sheriff does not have to comply with ALL of Rule 144's regs?
SURE, they do!
BECAUSE:
2. Federal law ALWAYS trumps state law.
Whenever state law conflicts with Federal law, FEDERAL ALWAYS prevails and precludes enforcement of any and all state laws that conflict with Federal laws.
3. GOSY's DE attorney has demonstrated competence MANY times.
Wallace has NEVER collected ANYTHING in the 5 years of his FAILED attempts to collect monies from GOSY and/or the Spencers NOT legitimately earned by him or allegedly due his parents.
Therefore, NONE of Spencer's stock CAN be sold by Neil Wallace, his parents, the "sheriff," or anyone else.
In conclusion, the Spencers will NOT be losing majority control of GOSY since their 51% ownership is in preferred GOSY shares is NOT at risk in ANY manner, or have ANY of their common stock holdings sold, either.
facts remain facts-
Mech
geckochat is really extraordinary...
...it is a verbal interface for the carebot and a great upgrade for the safepath wheelchair.
it is true AI with natural language processing (NLP) using forward chaining if/then/else written in a mature AI language, prolog.
the microphone "array" is super cool, too. it improves the signal to noise dramatically and enables the voice recognition software to recognize words such that the NLP of AI engine can reliably "recognize" predetermined phrases and/or words.
the family gets to customize this interface and tailor it exactly for the needs and benefits of their beloved family member.
so the voice synthesis must be clear and loud enough to be readily heard and understood by the carereceiver.
wow!
not a simple system. less complex than the safepath tech, but...
and then there is geckoscheduler...
wonder when ZMP is going to evaluate the full blown boogie? a carebot?
prototypes tend to be delicate. shipping could be a problem-
in conclusion, geckochat is fundamental and I don't see verbal interaction, for monologues and/or dialogues, on anyone else's personal companion robot.
gosy has much, much more than safepath to license-
I agree with Spencer, I think licensing revenues will easily precede product sales-
mo-
Mech
Over 120 public videos of CareBots in action!
4 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2011
4 eldercare alpha trial videos:
(Some with elderly family members, now deceased. The family members were never in assisted care or nursing homes, but allowed to stay at home with dignity and privacy. Family is always first with GeckoSystems. Most folks consider "family first," too.)
http://www.geckosystems.com/timeline/?year=2010
18 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2009
http://www.geckosystems.com/timeline/?year=2007
12 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2006
5 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2005
16 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2004
60 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2003
http://www.geckosystems.com/timeline/2002/images/DCP00216.jpg
http://www.geckosystems.com/timeline/2001/images/DCP00206.jpg
http://www.geckosystems.com/timeline/2000/images/Pow%20Wow%20photo%2002.JPG
http://www.geckosystems.com/timeline/1998/images/imageFPK.JPG
Over 100 videos in public venues viewed by non GOSY affiliates, authenticating the reality of GOSY's world class "mobile robot solutions for safety, security, and service."
No joysticks, no "man behind the curtain," and no "staged" demonstrations!
Facts be facts-
Is this ZMP evaluating GOSY's BaseBot?
Financial compliance reasons why GOSY is undervalued:
1. Compliance with Federal Accounting Standards Board's (FASB, http://www.fasb.org/ ) Generally Accepted Accounting Principles (GAAP) distorts the true economic condition and performance of the company.
This is due to the requirement to expense 100% of all R&D in the year incurred. Hence a complete writeoff of all R&D expenditures, regardless of present and/or future value to ZERO. This required compliance with GAAP forces the Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
2. Federal and state tax laws also distort the true economic condition and performance of GOSY.
This is due to the requirement to prepare financials in accordance with FASB 's GAAP for tax filings. This required compliance with GAAP forces GOSY as a Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
3. European Unon (EU) accounting standards, if applied to GOSY's financials, would portray the true economic condition and performance of the company much more realistically.
This is due to the requirement to expense only 50% (not 100%) of all R&D in the year incurred. Hence since not a 100% writeoff, 50% is carried as assets on the balance sheet. This fairly reflects the net worth of a Development Stage company from the EU perspective. The EU requires only a 50% writeoff of all R&D expenditures. This simple accounting change would dramatically flip GOSY's net worth and stockholder equity deep into positive territory.
This required compliance with GAAP forces GOSY --as a Development Stage company-- to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
4. Ignoring discounted cash flow (DCF) analyses of GOSY's financial pro formas lowers the net present value (NPV) of future net profits of GOSY regardless of hurdle rate (minimum ROI) determined as sufficient for the level of risk.
Ignoring increased stockholder dividends due to significant tax loss carry forwards (which reduces taxes due for several years and hence increases the aftertax income available for distribution as stock dividends to stockholders) distorts by lowering the net present value (NPV) of future dividend payments to GOSY stockholders regardless of hurdle rate used.
The long and short of it all?
GOSY's $8,000,000 in expenditures the last 15 years does not show up on the Balance Sheet due to compliance with GAAP.
NOT because GOSY's IP has little or no value.
That reality definitely undervalues GOSY's IP!
mo-
Mech
Because the Spencers are NOT residents of VA?
Hence their "whining" to the FBI about Wallace's cyberbullying?
Don't you believe Wallace must be incarcerated in order to finally end his cyberbullying of the Spencers?
Oh, I recall Wallace saying that no criminal laws exist regarding cyberbullying?
Wallace found a misdemeanor one in VA. The Spencers are seeking a FELONY warrant for Wallace. Guess the FBI can do that-
Correct?
Poor Wallace...
GOSY is going to pop very soon, and Wallace will have a whole new career!
mo-
Mech
When, not if, GOSY's stock pops, then the Spencers' would have budget to enable Wallace to embark on a brand new career at the age of 62!
Responding to the daily storm of more litigation for him to spend his days and nights forestalling.
Recall that the Spencers have worked very hard for several years to fence off Wallace from their lives and business.
Wallace is a bonafide predator (sociopath some say-) due to having initiated 8-10 suits against GOSY in the last 3-5 years.
Wallace fought the MUTUAL Protection Order since he would have not been able to continue his deliberate infliction of emotional anguish on the Spencers. Clearly Wallace is a true sociopath and is obsessed with having what he sees as "willing victims."
He does not want to settle because then he would get no "juicy" high from his deliberate infliction of emotional pain on them.
He would lose that which is most important to him, the "creation of a willing victim."
So the instant GOSY pops, Wallace starts a new career that will still be GOSY centric, but with him having chosen to be persecuted and pursued by the Spencers as he has them for several years now.
The Spencers want to be rid of Wallace.
That's why they secured the MUTUALLY BINDING GA Temporary Protection Order (which he violated over 400 times in the 30 day period) and the GA Permanent Protection Order was denied due to jurisdiction.
It was NOT denied due to lack of compelling evidence.
The TPO was mutual and the Spencers never violated it. Wallace fought the PPO, why is that?
HE IS GUILTY OF CYBER STALKING THE SPENCERS.
Yes, Wallace's WORST NIGHTMARE is for GOSY to pop.
BTW, the foregoing is all documented at:
http://www.geckosystems.com/W_W_W
mo-
Mech
Over 120 public videos of CareBots in action!
4 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2011
4 eldercare alpha trial videos:
(Some with elderly family members, now deceased. The family members were never in assisted care or nursing homes, but allowed to stay at home with dignity and privacy. Family is always first with GeckoSystems. Most folks consider "family first," too.)
http://www.geckosystems.com/timeline/?year=2010
18 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2009
http://www.geckosystems.com/timeline/?year=2007
12 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2006
5 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2005
16 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2004
60 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2003
http://www.geckosystems.com/timeline/2002/images/DCP00216.jpg
http://www.geckosystems.com/timeline/2001/images/DCP00206.jpg
http://www.geckosystems.com/timeline/2000/images/Pow%20Wow%20photo%2002.JPG
http://www.geckosystems.com/timeline/1998/images/imageFPK.JPG
Over 100 videos in public venues viewed by non GOSY affiliates, authenticating the reality of GOSY's world class "mobile robot solutions for safety, security, and service."
No joysticks, no "man behind the curtain," and no "staged" demonstrations!
Facts be facts-
Is this ZMP evaluating GOSY's BaseBot?
tech companies get revenues from product sales...
...and/or technology licensing.
I recall reading that Spencer has said on numerous occasions that he expected technology licensing revenues to precede revenues from product sales.
I know that some very large companies in the tech sector never "sell a product," but only license their tech to others.
since gosy can do both, cool!
less risk for the investor with multiple markets with the same tech!
with this independent, third party validation of their safepath technologies by ZMP, I suspect the basebot will be a "show pony" in Japan for interested licensees in Japan, China, South Korea, etc.
no doubt Hajime Yasumatsu is working very hard to have lots of pony shows!
definitely looking forward to hearing about them!
mo-
Mech
geckochat is really extraordinary...
...it is a verbal interface for the carebot and a great upgrade for the safepath wheelchair.
it is true AI with natural language processing (NLP) using forward chaining if/then/else written in a mature AI language, prolog.
the microphone "array" is super cool, too. it improves the signal to noise dramatically and enables the voice recognition software to recognize words such that the NLP of AI engine can reliably "recognize" predetermined phrases and/or words.
the family gets to customize this interface and tailor it exactly for the needs and benefits of their beloved family member.
so the voice synthesis must be clear and loud enough to be readily heard and understood by the carereceiver.
wow!
not a simple system. less complex than the safepath tech, but...
and then there is geckoscheduler...
wonder when ZMP is going to evaluate the full blown boogie? a carebot?
prototypes tend to be delicate. shipping could be a problem-
in conclusion, geckochat is fundamental and I don't see verbal interaction, for monologues and/or dialogues, on anyone else's personal companion robot.
gosy has much, much more than safepath to license-
I agree with Spencer, I think licensing revenues will easily precede product sales-
mo-
Mech
This will be a big help in negotiating with Pride et al:
Spencer has an excellent, professional business education:
Financial compliance reasons why GOSY is undervalued:
1. Compliance with Federal Accounting Standards Board's (FASB, http://www.fasb.org/ ) Generally Accepted Accounting Principles (GAAP) distorts the true economic condition and performance of the company.
This is due to the requirement to expense 100% of all R&D in the year incurred. Hence a complete writeoff of all R&D expenditures, regardless of present and/or future value to ZERO. This required compliance with GAAP forces the Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
2. Federal and state tax laws also distort the true economic condition and performance of GOSY.
This is due to the requirement to prepare financials in accordance with FASB 's GAAP for tax filings. This required compliance with GAAP forces GOSY as a Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
3. European Unon (EU) accounting standards, if applied to GOSY's financials, would portray the true economic condition and performance of the company much more realistically.
This is due to the requirement to expense only 50% (not 100%) of all R&D in the year incurred. Hence since not a 100% writeoff, 50% is carried as assets on the balance sheet. This fairly reflects the net worth of a Development Stage company from the EU perspective. The EU requires only a 50% writeoff of all R&D expenditures. This simple accounting change would dramatically flip GOSY's net worth and stockholder equity deep into positive territory.
This required compliance with GAAP forces GOSY --as a Development Stage company-- to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
4. Ignoring discounted cash flow (DCF) analyses of GOSY's financial pro formas lowers the net present value (NPV) of future net profits of GOSY regardless of hurdle rate (minimum ROI) determined as sufficient for the level of risk.
Ignoring increased stockholder dividends due to significant tax loss carry forwards (which reduces taxes due for several years and hence increases the aftertax income available for distribution as stock dividends to stockholders) distorts by lowering the net present value (NPV) of future dividend payments to GOSY stockholders regardless of hurdle rate used.
The long and short of it all?
GOSY's $8,000,000 in expenditures the last 15 years does not show up on the Balance Sheet due to compliance with GAAP.
NOT because GOSY's IP has little or no value.
That reality definitely undervalues GOSY's IP!
mo-
Mech
NONE of Spencer's stock will be sold...
...by Neil Wallace, his parents, the "sheriff," or anyone else.
The IRREFUTABLE reasons why it CANNOT happen are:
1. The proposed sale VIOLATES Federal securities laws, specifically Rule 144 which governs the sale of all restricted stock, REGARDLESS of WHO is doing the selling or the circumstances.
Rule 144 REQUIRES that ONLY FINRA/SEC brokers execute ANY and ALL sales.
Further, Rule 144 does NOT allow Beneficial Owners (those that hold more than 5% of the issued and outstanding) to sell more than 1% of the issued and outstanding per 90 day period. The SEC has this long standing reg in place to protect stockholders from the type of illegal shenanigans that Wallace et al are attempting to pull off. That is only 5M or so shares PER 90 days!
http://geckosystems.com/W_W_W/Appelants_Reply_Brief.pdf
So the sheriff does not have to comply with ALL of Rule 144's regs?
SURE, they do!
BECAUSE:
2. Federal law ALWAYS trumps state law.
Whenever state law conflicts with Federal law, FEDERAL ALWAYS prevails and precludes enforcement of any and all state laws that conflict with Federal laws.
3. GOSY's DE attorney has demonstrated competence MANY times.
Wallace has NEVER collected ANYTHING in the 5 years of his FAILED attempts to collect monies from GOSY and/or the Spencers NOT legitimately earned by him or allegedly due his parents.
Therefore, NONE of Spencer's stock CAN be sold by Neil Wallace, his parents, the "sheriff," or anyone else.
In conclusion, the Spencers will NOT be losing majority control of GOSY since their 51% ownership is in preferred GOSY shares is NOT at risk in ANY manner, or have ANY of their common stock holdings sold, either.
Wallace has chosen to not make public the so called opinion letter he hee haws about being the "end all" solution supporting his position. Of course he won't since his position is INDEFENSIBLE.
facts remain facts-
Mech
GeckoSystems Supporting FINRA Investigation Into OTC Trading Abuse
CONYERS, Ga., October 25, 2012 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced today that as a result of their letter to FINRA on September 7, 2012 --regarding an ongoing naked short selling (NSS) of GeckoSystems stock-- FINRA has launched an official investigation. GeckoSystems alleged in their letter with supporting documents to FINRA, that George Iveagh MacLeod is orchestrating this NSS.
The purpose of this press release is to inform stakeholders regarding GeckoSystems management's perspective of the extraordinary stock price oscillations induced by broker illicitly trading of GOSY stock on October 10. After good news was released, massive NSS resulted in decreasing the share price dramatically.
"We were contacted by a FINRA investigator on October 11, the day after an incredible 38 million shares of GOSY stock was traded on our announcement of JV and acquisition discussions. At the time we believed NSS shares were the source of this forray, as our recent NOBO list does not show shareholder, or group of shareholders, that could possibly be trading that size and volume. On October 16, 2012 I had a lengthy discussion with the FINRA investigator. He's asked to see that NOBO list and other company confidential documentation. We are hoping that FINRA will get to the bottom of this, explained Martin Spencer, President/CEO, GeckoSystems."
GeckoSystems is suffering a classic NSS as is described here: http://shareholdersunite.com/the-ioc-files-useful-background-material/short-sellers-and-naked-shorting/ http://counterfeitingstock.com/CounterfeitingStock.html
Since companies trading in the Pink Sheets are not electronically traded, but done with phone calls between selling and buying brokers, this important equity market suffers more NSS than normally feasible in the more pronounced stock exchanges in which all buys and sells are electronically matched and not done "over the telephone."
For over fifteen years, GeckoSystems has been developing "mobile robot solutions for safety, security and serviceâ„¢." The benefits from GeckoSystems range from SafePathâ„¢, "collision free" wheelchairs to personal assistance robots (a new, labor and time saving home appliance) for family care to professional healthcare to commercial security.
In a lengthy conversation with the lead FINRA investigator last week, some GeckoSystems' company confidential information was requested and provided to support GeckoSystems management's belief that massive adverse influencing of GOSY stock pricing is occurring. Management believes offshore NSS under the direction of George MacLeod is facilitating this adverse stockholder event and if it involves money laundering, the SEC has an imperative due to the Patriot Act to investigate promptly.
Several prominent US and international brokerages have exhibited irregular and abusive trading patterns which have driven the valuation of GOSY stock into a range which is unrealistic given the value of their suite of mobile robot solutions. This was readily apparent watching Level 2 Bids and Asks of the various market makers on October 10. It would seem that if these market makers are not knowingly involved then George MacLeod and/or others are manipulating them in support of the ongoing NSS on GeckoSystems.
This September 7 letter to FINRA from GeckoSystems with its allegations regarding George MacLeod and others may be read in its entirety here: http://www.geckosystems.com/investors/Letter to FINRA Sept 8 2012.pdf Some documents also supplied to FINRA supporting these allegations are here:
http://www.geckosystems.com/investors/GOSY presentation for FINRA Sept 8 2012.pdf
Several domestic and international brokerages that participated in the abnormal trading patterns on October 10th have been contacted at senior levels regarding their apparent complicity in the short attack on GeckoSystems. Most did not respond at all. One, a very prominent international firm, sent the CEO of GeckoSystems a letter denying those complaints, stating that they were satisfied that no illegal activities were occurring. Within two days of receipt of that letter, this brokerage resumed a pattern of blatant capping GOSY stock on the bid while traffic was routed through secondary market makers. This pattern of adversely influencing normal trading was obvious to a even a casual observer of Level 2 bids and asks, as was the leadership role of this international firm.
Simply stated, for some time now, whenever the company releases bona fide good news, the stock price is capped with massive blocks on the Ask and then shorted down to a significantly lower price than that prior to the press release. The share volume used to execute these maneuvers is dramatically disproportionate to the amount of available shares and trading patterns of GOSY stock. This pattern is consistent and the company believes that even today's press release will likely be met with artificial liquidity in the form of shorting and wash trading in order to further lower the price of GeckoSystems stock.
Kidea.com recently published an account of the company's fifteen-year history:
http://www.kidela.com/columns/how-we-started/mobile-robots-are-in-our-future-martin-spencer-of-geckosystems/
GeckoSystems also sent a copy of the FINRA letter and research report to the SEC, which has been forwarded to their Office of Investor Education and Advocacy (OIEA). At this time, the SEC states that they cannot confirm or deny the existence of an investigation regarding the claims alleged in GeckoSystems' September 7 letter to FINRA, but it is substantive that they have opened a file.
Most of the documents provided to FINRA can be found at: http://www.geckosystems.com/investors/Investor_Information.php
GeckoSystems is a legitimate investment. It is not, nor has it ever been a "shell" or "blank check" company.
http://www.otcmarkets.com/stock/GOSY/news/GeckoSystems-Clarifies-Trading-Symbol-Origin?id=15114&b=y
GeckoSystems is truly dedicated to the development of "Mobile Robot Solutions for Safety, Security and Serviceâ„¢." The company's SafePathâ„¢ navigation technology has been integrated with affordable depth camera sensors to create a truly collision proof wheelchair. With proper financing SafePath wheelchair upgrades could be available on the retail market within six months. This upgrade would not be out of line with other rehabilitative wheelchair technology, readily increasing the safety and mobility for tens of thousands of wheelchair users in the US alone.
GeckoSystems wishes to do great good. For example, statistics from a Veteran's Administration study indicate that currently 132,000 disabled persons have difficulty steering and maneuvering their power wheelchair and that nearly half of those denied a power wheelchair because they are unable to control a chair by conventional methods would benefit from an automated navigation system. GeckoSystems believes that a market backlog of between 250,000 and 500,000 exists. http://www.rehab.research.va.gov/jour/00/37/3/fehr.htm
Research and Markets, a respected international marketing analysis company, made this recent statement about GeckoSystems:
"The key market players in service robotics industry are Honda Motors (Japan), iRobot (U.S.), AB Electrolux (Sweden), Sony (Japan), Fujitsu (Japan), Toyota (Japan), GeckoSystems (U.S.), and Yujin Robot (South Korea)."
http://www.researchandmarkets.com/publication/9rvoof/personal_professional_service_robotics_mark
In September of this year ZMP Inc., an established Japanese robotics company that serves the international educational market, announced that they had successfully finished their technical evaluation of GeckoSystems' BaseBot, a demonstration platform for basic AI navigation. "The software of the BaseBot was high quality and had a fully developed configuration interface required to apply this technology to autonomous mobile service robots. GSIC's line includes its flagship model, the 'CareBot' that uses the sophisticated navigation of the BaseBot and a more advanced user interface. Since the CareBot is mainly used for assisted living for the elderly, which is a promising market in Japan, ZMP intends to actively promote these products. The goal of both companies is to develop mobile service robot technologies and products that will enable people around the world to live a more independent, safe, and comfortable life," commented Spencer.
Here is the ZMP's PR in Japanese: http://www.zmp.co.jp/html/press_20120924.htm
Martin Spencer, President/CEO, GeckoSystems -- on the history of GOSY stock:
"We worked for nearly a year in preparing our initial 15c211 submission to, and addressing the comments of, FINRA prior to their issuance of our original trading symbol, GCKO. Our initial and subsequent submissions to FINRA were reviewed and prepared by our attorney at Sichenzia, Ross, Friedman & Ference, LLP. We received our trading symbol, GCKO, from FINRA in September of 2007. In order to enable electronic trading we became DTC eligible in January of 2008. In October, 2010, we changed our symbol to GOSY in an early effort to thwart this ongoing short attack.
"Our transfer agent, Continental Stock Transfer & Trust Company is a first tier firm. We selected them because of their reputation for accurate, professional accounting. We are certain that there are no legitimate holdings or certificates in circulation that would support the volume traded in this stock on the 10th and at other times in our history."
The company hopes that the records of DTC and DRS transactions will assist FINRA in the tracking of the unusual volume the company experienced in on October 10 of this year, in late April and early May of this year when fails to deliver triggered threshold volume, and in December of 2009 when the stock traded five times the available float.
"We have taken all available measures to protect the company and our stockholders, from attaining our trading symbol from a 15c2-11 to becoming DTC eligible and then a DRS Participant. Now, we must rely on the regulatory agencies, FINRA and the SEC. We would also request that stockholders assist us by sending us information about their current holdings and evidence of same, a copy of a statement (account numbers may be blacked out) or GOSY stock certificate, to investors@geckosystems.com. Stockholders with any information or immediate concerns should feel free to contact us at 1-866-227-3268. We hope to verify the location of all outstanding certificates and verify that stockholders are not holding shares that entered the system by fraud.
"It is simply appalling to us that after working over fifteen years to develop technologies that can do great good for many tens of thousands of families, that market trading is adversely influenced by notorious international con artists such as George MacLeod and others --can prevent companies such as ours-- from getting the necessary funding to hire dozens and eventually even hundreds of unemployed engineers, programmers, marketers, and manufacturing employees. The greed of Wall Street, brokers and bankers who 'look the other way', ignoring the parasitic activities of international con artists who exploit loopholes in the system to engage in illicit stock influencing and/or money laundering.
"Unfortunately, it is easier and more profitable for a brokerage to naked short a stock, betting that it will go down and then fulfilling their own prophecy by creating negative publicity on internet social media sites to deliberately manipulate the trading of that stock -- than to invest in a stock betting it will go up. While this practice is illegal, it is widespread and a part of the Wall Street culture. This is the same sort of hedging and financial shell games that led to the 2008 economic crisis. Enforcement of laws against this sort of activity is spotty at best, and we believe enforcement will have to be stepped up in order for the US economy to regain its strength, vigor, and enable small businesses, like GeckoSystems, to hire the unemployed.
"GeckoSystems' present inability to build and sell the robots that have been in development for over a decade is a direct result of this "short attack." Tens of thousands of disabled and thousands of families needing help with family care for children, chronically ill, and the elderly need SafePathâ„¢ Wheelchairs and or CareBot personal assistance robot, the only reason they are not available is our past inability to raise capital in a corrupted market that has us under extreme NSS. Now with an ongoing FINRA investigation, we are confident they will honor their charter to protect investors. We have engaged FINRA and contacted the senior management of several domestic and international brokerages due to our long time commitment to our 1300+ stockholders," concluded Spencer.
http://geckosystems.com/investors/press_releases/20121025_GeckoSystems_Supporting_FINRA_investigation.php
The elderly need SafePathâ„¢ Wheelchairs and or CareBot personal assistance robot, the only reason they are not available is our past inability to raise capital in a corrupted market that has us under extreme NSS. Now with an ongoing FINRA investigation, we are confident they will honor their charter to protect investors. We have engaged FINRA and contacted the senior management of several domestic and international brokerages due to our long time commitment to our 1300+ stockholders," concluded Spencer.[/quote] http://geckosystems.com/investors/press_releases/20121025_GeckoSystems_Supporting_FINRA_investigation.php
GOSY MASSIVELY SHORTED!
http://otcshortreport.com/index.php?index=gosy&action=view
GeckoSystems Supporting FINRA Investigation Into OTC Trading Abuse
CONYERS, Ga., October 25, 2012 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced today that as a result of their letter to FINRA on September 7, 2012 --regarding an ongoing naked short selling (NSS) of GeckoSystems stock-- FINRA has launched an official investigation. GeckoSystems alleged in their letter with supporting documents to FINRA, that George Iveagh MacLeod is orchestrating this NSS.
The purpose of this press release is to inform stakeholders regarding GeckoSystems management's perspective of the extraordinary stock price oscillations induced by broker illicitly trading of GOSY stock on October 10. After good news was released, massive NSS resulted in decreasing the share price dramatically.
"We were contacted by a FINRA investigator on October 11, the day after an incredible 38 million shares of GOSY stock was traded on our announcement of JV and acquisition discussions. At the time we believed NSS shares were the source of this forray, as our recent NOBO list does not show shareholder, or group of shareholders, that could possibly be trading that size and volume. On October 16, 2012 I had a lengthy discussion with the FINRA investigator. He's asked to see that NOBO list and other company confidential documentation. We are hoping that FINRA will get to the bottom of this, explained Martin Spencer, President/CEO, GeckoSystems."
GeckoSystems is suffering a classic NSS as is described here: http://shareholdersunite.com/the-ioc-files-useful-background-material/short-sellers-and-naked-shorting/ http://counterfeitingstock.com/CounterfeitingStock.html
Since companies trading in the Pink Sheets are not electronically traded, but done with phone calls between selling and buying brokers, this important equity market suffers more NSS than normally feasible in the more pronounced stock exchanges in which all buys and sells are electronically matched and not done "over the telephone."
For over fifteen years, GeckoSystems has been developing "mobile robot solutions for safety, security and serviceâ„¢." The benefits from GeckoSystems range from SafePathâ„¢, "collision free" wheelchairs to personal assistance robots (a new, labor and time saving home appliance) for family care to professional healthcare to commercial security.
In a lengthy conversation with the lead FINRA investigator last week, some GeckoSystems' company confidential information was requested and provided to support GeckoSystems management's belief that massive adverse influencing of GOSY stock pricing is occurring. Management believes offshore NSS under the direction of George MacLeod is facilitating this adverse stockholder event and if it involves money laundering, the SEC has an imperative due to the Patriot Act to investigate promptly.
Several prominent US and international brokerages have exhibited irregular and abusive trading patterns which have driven the valuation of GOSY stock into a range which is unrealistic given the value of their suite of mobile robot solutions. This was readily apparent watching Level 2 Bids and Asks of the various market makers on October 10. It would seem that if these market makers are not knowingly involved then George MacLeod and/or others are manipulating them in support of the ongoing NSS on GeckoSystems.
This September 7 letter to FINRA from GeckoSystems with its allegations regarding George MacLeod and others may be read in its entirety here: http://www.geckosystems.com/investors/Letter to FINRA Sept 8 2012.pdf Some documents also supplied to FINRA supporting these allegations are here:
http://www.geckosystems.com/investors/GOSY presentation for FINRA Sept 8 2012.pdf
Several domestic and international brokerages that participated in the abnormal trading patterns on October 10th have been contacted at senior levels regarding their apparent complicity in the short attack on GeckoSystems. Most did not respond at all. One, a very prominent international firm, sent the CEO of GeckoSystems a letter denying those complaints, stating that they were satisfied that no illegal activities were occurring. Within two days of receipt of that letter, this brokerage resumed a pattern of blatant capping GOSY stock on the bid while traffic was routed through secondary market makers. This pattern of adversely influencing normal trading was obvious to a even a casual observer of Level 2 bids and asks, as was the leadership role of this international firm.
Simply stated, for some time now, whenever the company releases bona fide good news, the stock price is capped with massive blocks on the Ask and then shorted down to a significantly lower price than that prior to the press release. The share volume used to execute these maneuvers is dramatically disproportionate to the amount of available shares and trading patterns of GOSY stock. This pattern is consistent and the company believes that even today's press release will likely be met with artificial liquidity in the form of shorting and wash trading in order to further lower the price of GeckoSystems stock.
Kidea.com recently published an account of the company's fifteen-year history:
http://www.kidela.com/columns/how-we-started/mobile-robots-are-in-our-future-martin-spencer-of-geckosystems/
GeckoSystems also sent a copy of the FINRA letter and research report to the SEC, which has been forwarded to their Office of Investor Education and Advocacy (OIEA). At this time, the SEC states that they cannot confirm or deny the existence of an investigation regarding the claims alleged in GeckoSystems' September 7 letter to FINRA, but it is substantive that they have opened a file.
Most of the documents provided to FINRA can be found at: http://www.geckosystems.com/investors/Investor_Information.php
GeckoSystems is a legitimate investment. It is not, nor has it ever been a "shell" or "blank check" company.
http://www.otcmarkets.com/stock/GOSY/news/GeckoSystems-Clarifies-Trading-Symbol-Origin?id=15114&b=y
GeckoSystems is truly dedicated to the development of "Mobile Robot Solutions for Safety, Security and Serviceâ„¢." The company's SafePathâ„¢ navigation technology has been integrated with affordable depth camera sensors to create a truly collision proof wheelchair. With proper financing SafePath wheelchair upgrades could be available on the retail market within six months. This upgrade would not be out of line with other rehabilitative wheelchair technology, readily increasing the safety and mobility for tens of thousands of wheelchair users in the US alone.
GeckoSystems wishes to do great good. For example, statistics from a Veteran's Administration study indicate that currently 132,000 disabled persons have difficulty steering and maneuvering their power wheelchair and that nearly half of those denied a power wheelchair because they are unable to control a chair by conventional methods would benefit from an automated navigation system. GeckoSystems believes that a market backlog of between 250,000 and 500,000 exists. http://www.rehab.research.va.gov/jour/00/37/3/fehr.htm
Research and Markets, a respected international marketing analysis company, made this recent statement about GeckoSystems:
"The key market players in service robotics industry are Honda Motors (Japan), iRobot (U.S.), AB Electrolux (Sweden), Sony (Japan), Fujitsu (Japan), Toyota (Japan), GeckoSystems (U.S.), and Yujin Robot (South Korea)."
http://www.researchandmarkets.com/publication/9rvoof/personal_professional_service_robotics_mark
In September of this year ZMP Inc., an established Japanese robotics company that serves the international educational market, announced that they had successfully finished their technical evaluation of GeckoSystems' BaseBot, a demonstration platform for basic AI navigation. "The software of the BaseBot was high quality and had a fully developed configuration interface required to apply this technology to autonomous mobile service robots. GSIC's line includes its flagship model, the 'CareBot' that uses the sophisticated navigation of the BaseBot and a more advanced user interface. Since the CareBot is mainly used for assisted living for the elderly, which is a promising market in Japan, ZMP intends to actively promote these products. The goal of both companies is to develop mobile service robot technologies and products that will enable people around the world to live a more independent, safe, and comfortable life," commented Spencer.
Here is the ZMP's PR in Japanese: http://www.zmp.co.jp/html/press_20120924.htm
Martin Spencer, President/CEO, GeckoSystems -- on the history of GOSY stock:
"We worked for nearly a year in preparing our initial 15c211 submission to, and addressing the comments of, FINRA prior to their issuance of our original trading symbol, GCKO. Our initial and subsequent submissions to FINRA were reviewed and prepared by our attorney at Sichenzia, Ross, Friedman & Ference, LLP. We received our trading symbol, GCKO, from FINRA in September of 2007. In order to enable electronic trading we became DTC eligible in January of 2008. In October, 2010, we changed our symbol to GOSY in an early effort to thwart this ongoing short attack.
"Our transfer agent, Continental Stock Transfer & Trust Company is a first tier firm. We selected them because of their reputation for accurate, professional accounting. We are certain that there are no legitimate holdings or certificates in circulation that would support the volume traded in this stock on the 10th and at other times in our history."
The company hopes that the records of DTC and DRS transactions will assist FINRA in the tracking of the unusual volume the company experienced in on October 10 of this year, in late April and early May of this year when fails to deliver triggered threshold volume, and in December of 2009 when the stock traded five times the available float.
"We have taken all available measures to protect the company and our stockholders, from attaining our trading symbol from a 15c2-11 to becoming DTC eligible and then a DRS Participant. Now, we must rely on the regulatory agencies, FINRA and the SEC. We would also request that stockholders assist us by sending us information about their current holdings and evidence of same, a copy of a statement (account numbers may be blacked out) or GOSY stock certificate, to investors@geckosystems.com. Stockholders with any information or immediate concerns should feel free to contact us at 1-866-227-3268. We hope to verify the location of all outstanding certificates and verify that stockholders are not holding shares that entered the system by fraud.
"It is simply appalling to us that after working over fifteen years to develop technologies that can do great good for many tens of thousands of families, that market trading is adversely influenced by notorious international con artists such as George MacLeod and others --can prevent companies such as ours-- from getting the necessary funding to hire dozens and eventually even hundreds of unemployed engineers, programmers, marketers, and manufacturing employees. The greed of Wall Street, brokers and bankers who 'look the other way', ignoring the parasitic activities of international con artists who exploit loopholes in the system to engage in illicit stock influencing and/or money laundering.
"Unfortunately, it is easier and more profitable for a brokerage to naked short a stock, betting that it will go down and then fulfilling their own prophecy by creating negative publicity on internet social media sites to deliberately manipulate the trading of that stock -- than to invest in a stock betting it will go up. While this practice is illegal, it is widespread and a part of the Wall Street culture. This is the same sort of hedging and financial shell games that led to the 2008 economic crisis. Enforcement of laws against this sort of activity is spotty at best, and we believe enforcement will have to be stepped up in order for the US economy to regain its strength, vigor, and enable small businesses, like GeckoSystems, to hire the unemployed.
"GeckoSystems' present inability to build and sell the robots that have been in development for over a decade is a direct result of this "short attack." Tens of thousands of disabled and thousands of families needing help with family care for children, chronically ill, and the elderly need SafePathâ„¢ Wheelchairs and or CareBot personal assistance robot, the only reason they are not available is our past inability to raise capital in a corrupted market that has us under extreme NSS. Now with an ongoing FINRA investigation, we are confident they will honor their charter to protect investors. We have engaged FINRA and contacted the senior management of several domestic and international brokerages due to our long time commitment to our 1300+ stockholders," concluded Spencer.
http://geckosystems.com/investors/press_releases/20121025_GeckoSystems_Supporting_FINRA_investigation.php
The elderly need SafePathâ„¢ Wheelchairs and or CareBot personal assistance robot, the only reason they are not available is our past inability to raise capital in a corrupted market that has us under extreme NSS. Now with an ongoing FINRA investigation, we are confident they will honor their charter to protect investors. We have engaged FINRA and contacted the senior management of several domestic and international brokerages due to our long time commitment to our 1300+ stockholders," concluded Spencer.[/quote] http://geckosystems.com/investors/press_releases/20121025_GeckoSystems_Supporting_FINRA_investigation.php
ALL CPA's, CMA's, CFA's, etc. understand this?
Correct?
Financial compliance reasons why GOSY is undervalued:
1. Compliance with Federal Accounting Standards Board's (FASB, http://www.fasb.org/ ) Generally Accepted Accounting Principles (GAAP) distorts the true economic condition and performance of the company.
This is due to the requirement to expense 100% of all R&D in the year incurred. Hence a complete writeoff of all R&D expenditures, regardless of present and/or future value to ZERO. This required compliance with GAAP forces the Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
2. Federal and state tax laws also distort the true economic condition and performance of GOSY.
This is due to the requirement to prepare financials in accordance with FASB 's GAAP for tax filings. This required compliance with GAAP forces GOSY as a Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
3. European Unon (EU) accounting standards, if applied to GOSY's financials, would portray the true economic condition and performance of the company much more realistically.
This is due to the requirement to expense only 50% (not 100%) of all R&D in the year incurred. Hence since not a 100% writeoff, 50% is carried as assets on the balance sheet. This fairly reflects the net worth of a Development Stage company from the EU perspective. The EU requires only a 50% writeoff of all R&D expenditures. This simple accounting change would dramatically flip GOSY's net worth and stockholder equity deep into positive territory.
This required compliance with GAAP forces GOSY --as a Development Stage company-- to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
4. Ignoring discounted cash flow (DCF) analyses of GOSY's financial pro formas lowers the net present value (NPV) of future net profits of GOSY regardless of hurdle rate (minimum ROI) determined as sufficient for the level of risk.
Ignoring increased stockholder dividends due to significant tax loss carry forwards (which reduces taxes due for several years and hence increases the aftertax income available for distribution as stock dividends to stockholders) distorts by lowering the net present value (NPV) of future dividend payments to GOSY stockholders regardless of hurdle rate used.
The long and short of it all?
GOSY's $8,000,000 in expenditures the last 15 years does not show up on the Balance Sheet due to compliance with GAAP.
NOT because GOSY's IP has little or no value.
That reality definitely undervalues GOSY's IP!
mo-
Mech
The Spencers understand genuine family values and this:
nursing homes are a two edged sword-
on one hand they are very expensive.
"slums" are $3.5-4K per month
national average is $4.5K per month
the economics are so bad that 50% of all nursing homes in FL are in bankruptcy-
now for the sharper edge of the sword-
there is a huge emotional trauma to the beloved parents that sends them into depression and they die in 1-2 years!
whereas, staying in their own home of 20-30+ years, they may live another 5-10 years!
so what does the family, adult children, want?
to keep their beloved parent as safe and comfortable such that their twilight years can be as good as they can be-
hence the extraordinary means of keeping grandma at home as long as possible.
I do not see the carebot eliminating nursing homes, but putting off that loss of independence as long as is possible-
those that have had direct eldercare responsibility understand the foregoing very, very well!
so tech is great from GOSY to put "family first"
mo-
Mech
ZMP now knows that geckonav is...
...big time breakthrough AI nav software for all mobile robots!
they have seen the 120+ videos and now they have been evaluating a basebot for a couple of months.
don't think the basebot normally includes geckoorient.
geokoorient is really, really cool "sensor fusion" tech
Frost and Sullivan like it:
http://geckosystems.com/investors/third_party.php
orient "sensor fuses" dead reckoning, compass and accelerometer to achieve high accuracy, no accumulated error and low cost.
why? to have a very low cost for the robot to know which direction it is facing. like an internal compass, but more accurate since magnetic compasses "dance" at times due to metal structures, etc.
really, really innovative tech from gosy!
huge markets in family care, professional healthcare and commercial security-
all using basebot tech like ZMP has evaluated!
mo-
Mech
I believe the Spencers are awaiting the criminal investigations of Wallace, MacLeod, et al to play out. Therefore the Spencers see no reason to spend lots of money on civil litigation, when Criminal RICO arrests of Wallace et al, will put a stop to all civil matters-
Don't you agree that will save GOSY money and be a prudent use of limited resources?
If law enforcement officials have given the Spencers basis to believe that Wallace et al are "persons of interest," why should the Spencers spend money on civil matters?
Wallace is longer in civil litigation, but facing serious criminal prosecution for his cyberbullying.
mo-
Mech
Only two former employees, Wallace & MacLeod, have multi-million dollar tortious counter claims against them by GOSY. MacLeod has chosen to give GOSY a default judgement.
GOSY has presented a great deal of factual information and submitted court documents here:
http://www.geckosystems.com/W_W_W
MacLeod has already given up and abandoned Wallace.
It is well established that Wallace does not want to settle, but just cyberbully the Spencers. After all, Wallace has initiated 8-10 suits directly and indirectly against the Spencers the last 3-5 years. The Spencers have initiated only two or three, in response to Wallace's incessant cyberbullying and interference with business.
mo-
Mech
Over 120 public videos of CareBots in action!
4 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2011
4 eldercare alpha trial videos:
(Some with elderly family members, now deceased. The family members were never in assisted care or nursing homes, but allowed to stay at home with dignity and privacy. Family is always first with GeckoSystems. Most folks consider "family first," too.)
http://www.geckosystems.com/timeline/?year=2010
18 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2009
http://www.geckosystems.com/timeline/?year=2007
12 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2006
5 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2005
16 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2004
60 videos here in public venues:
http://www.geckosystems.com/timeline/?year=2003
http://www.geckosystems.com/timeline/2002/images/DCP00216.jpg
http://www.geckosystems.com/timeline/2001/images/DCP00206.jpg
http://www.geckosystems.com/timeline/2000/images/Pow%20Wow%20photo%2002.JPG
http://www.geckosystems.com/timeline/1998/images/imageFPK.JPG
Over 100 videos in public venues viewed by non GOSY affiliates, authenticating the reality of GOSY's world class "mobile robot solutions for safety, security, and service."
No joysticks, no "man behind the curtain," and no "staged" demonstrations!
Facts be facts-
Is this ZMP evaluating GOSY's BaseBot?
Financial compliance reasons why GOSY is undervalued:
1. Compliance with Federal Accounting Standards Board's (FASB, http://www.fasb.org/ ) Generally Accepted Accounting Principles (GAAP) distorts the true economic condition and performance of the company.
This is due to the requirement to expense 100% of all R&D in the year incurred. Hence a complete writeoff of all R&D expenditures, regardless of present and/or future value to ZERO. This required compliance with GAAP forces the Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
2. Federal and state tax laws also distort the true economic condition and performance of GOSY.
This is due to the requirement to prepare financials in accordance with FASB 's GAAP for tax filings. This required compliance with GAAP forces GOSY as a Development Stage company to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
3. European Unon (EU) accounting standards, if applied to GOSY's financials, would portray the true economic condition and performance of the company much more realistically.
This is due to the requirement to expense only 50% (not 100%) of all R&D in the year incurred. Hence since not a 100% writeoff, 50% is carried as assets on the balance sheet. This fairly reflects the net worth of a Development Stage company from the EU perspective. The EU requires only a 50% writeoff of all R&D expenditures. This simple accounting change would dramatically flip GOSY's net worth and stockholder equity deep into positive territory.
This required compliance with GAAP forces GOSY --as a Development Stage company-- to place no assets on their Balance Sheet on the proprietary Intellectual Properties (IP) regardless of the level of probability of future revenues from their R&D activities.
4. Ignoring discounted cash flow (DCF) analyses of GOSY's financial pro formas lowers the net present value (NPV) of future net profits of GOSY regardless of hurdle rate (minimum ROI) determined as sufficient for the level of risk.
Ignoring increased stockholder dividends due to significant tax loss carry forwards (which reduces taxes due for several years and hence increases the aftertax income available for distribution as stock dividends to stockholders) distorts by lowering the net present value (NPV) of future dividend payments to GOSY stockholders regardless of hurdle rate used.
The long and short of it all?
GOSY's $8,000,000 in expenditures the last 15 years does not show up on the Balance Sheet due to compliance with GAAP.
NOT because GOSY's IP has little or no value.
That reality definitely undervalues GOSY's IP!
mo-
Mech