GeckoSystems Intl. Corp. (GOSY)

[Chae]

GeckoSystems Signs Mobile Robot Joint Venture With Chinese Wheelchair Manufacturer Geckosystems Intl Corp (PL) (USOTC:GOSY)

Today : Tuesday 29 November 2011
GeckoSystems Signs Mobile Robot Joint Venture With Chinese Wheelchair Manufacturer GeckoSystems to see Significant Advance in Exposure and Market Share with Proprietary Technology in Wheelchair Production Capital of the World: China
PR Newswire

CONYERS, Ga., Nov. 29, 2011


CONYERS, Ga., Nov. 29, 2011 /PRNewswire/ -- GeckoSystems International Corporation (Pink Sheets: GOSY | http://www.geckosystems.com/) -- announced today that negotiations establishing a new Joint Venture under direct sponsorship of the government of the People's Republic of China, Nanle Electric Wheelchair Co., have been completed. The CEOs of both organizations have signed the Joint Venture agreement.

GeckoSystems is a dynamic leader in the emerging mobile robotics industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service™".

GeckoSystems will realize a significant boost in exposure of its new "collision proof" wheelchair technology using its mobile robot solutions. This agreement enables GeckoSystems' technology to have more credible worldwide visibility for their new technologies as well as their mature technologies. This will give GeckoSystems a competitive cost advantage entering into commercial markets such as healthcare, security, and government applications.

It has been agreed that there will be an exchange of stock between GeckoSystems and Nanle. GeckoSystems' CEO will have a seat on the board of directors for the newly created company. Mechanical design criteria for a more appropriate wheelchair configuration designed to leverage the benefits of power mobility under artificial intelligence (AI) navigational control, has already been submitted to the Chinese engineers that will be working with Nanle.