My predictive track record on GOSY has been much better than spencer's however.
Let’s start with all the relationships announced in early 2009. http://www.otcmarkets.com/financialReportViewer?symbol=GOSY&id=19331 “And during the last year, we initiated and/or expanded our relationships with firms such as Omron, POSDATA, Motorola, Sparton Medical, Chubb Insurance, Honeywell, Symphony, Computer Science Corp, etc.”. Anyone seen any sign of those companies in 2011?
So GOSY decided to do a reverse merger to get on the OTC. “The antecedent company, Gecko Systems of Georgia, Inc (GSGI) has been acquired in a reverse merger by International Shoe Manufacturing Corporation (ISMC). Each shareholder of GSGI has been authorized by a majority vote of ISMC's stockholders and Board of Directors to receive twenty-five (25) voting, common shares of one year restricted stock in the Company (formerly known as ISMC) for each share they presently hold in GSGI.” http://findarticles.com/p/articles/mi_pwwi/is_200611/ai_n16840495/
But, according to other posts, Spencer closed the deal without ever getting the shares in ISMC he was supposed to. Whatever the reason, a scant 3 months later … GeckoSystems, Inc. (PINKSHEETS: GKSY) R. Martin Spencer, President/CEO/Chairman of GeckoSystems, Inc. (formerly International Shoe Manufacturing Corporation) today announced the resignation of the officers and directors of the company. Resigning as officers are: R. Martin Spencer, as President/CEO, George MacLeod, as Senior Vice President, and Neil Wallace, as Vice President. Messrs. Spencer and MacLeod and Ms. Elaine G. Spencer resigned as members of the Board of Directors of GeckoSystems, Inc. The election and appointment of the foregoing officers and directors of GeckoSystems occurred in connection with an acquisition of a majority of the outstanding common stock of GeckoSystems in September 2006. The intent was to integrate the robotic operations of GeckoSystems of Georgia, Inc. with International Shoe Manufacturing Corporation, an entity trading on the Pinksheets. While working toward operations integration, management became aware of various misrepresentations made by parties to the stock acquisition agreement and have been unable to satisfactorily resolve many issues regarding this transaction. "Accordingly we will no longer be integrating the operations of GeckoSystems of Georgia with GeckoSystems," stated Mr. Spencer. http://findarticles.com/p/articles/mi_pwwi/is_200702/ai_n17219157/ Only the first of many debacles that “weren’t the company’s fault”.
Then came the “Prodec” deal, establishing a UK office: “This is another milestone in the continuing development and expansion of GeckoSystems which will allow us to actively pursue and address the interest and potential that exists in this region. Our new presence allows GeckoSystems the unique opportunity to market our innovative mobile robot solutions to knowledgeable customers while fulfilling all contractual requirements." stated Mr. Martin Spencer, President/CEO of GeckoSystems, Inc. "The appointments of Messrs. Greg Stone and Russell Barley as Directors to GeckoSystems UK Ltd. brings a depth of experience and knowledge of sales and service in this sector. We are pleased to welcome them to the GeckoSystems’ organization," he stated.” http://web.archive.org/web/20070126190425/http://www.geckosystems.com/company/UKPR01152007.php
There are no subsequent mentions of a UK office and various posters have suggested the deal was another disaster, however, like other “great news” PRs, this story simply vanished from GOSY’s history.
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