GeckoSystems, an AI Mobile Robot Co.,
Signs $5M Joint Venture Contract
CONYERS, GA, May 23, 2013 -- GeckoSystems International Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) is pleased to announce that due to a recently concluded licensing agreement, the company forecasts over $5,000,000 in initial and ongoing licensing revenues over the 5 year duration of the joint venture contract. For over fifteen years GeckoSystems has dedicated itself to development of "Mobile Robot Solutions for Safety, Security and Service(tm)."
At this time GeckoSystems has secured revenues of $750,000 from this Joint Venture (JV), realized as a result of the now finalized international JV agreement. The JV partnership has experience in entrepreneurship and establishing technological ventures. They have systematically gone through all aspects of operations from the technology and development strategy to deployment, professional services, support, business development, marketing and sales. They chose GeckoSystems because of the low cost, extensibility, portability, and overall robustness of their suite of mobile robot solutions. This reality has the implicit and significant benefit of being "fast to market."
The initial $750,000 transaction significantly impacts GeckoSystems' fiscal status. As corporate guidance, the company expects the income statement to reflect more than $500,000 in profit before taxes for the fiscal year ending June 30, 2013. Due to the company's tax loss carry forwards, no state or federal taxes will be due. Gross margin for the year as a percentage of gross revenues will be over 70%. Return on stockholder equity will be over 40%.
Company release says no taxes will be paid. This is what's confusing.
