Jan 20 2010
GeckoSystems Intl. Corp. (PINKSHEETS: GCKO)
announced today that its stock is now quoted in the U.S. over-the-counter
(OTC) markets, on the Pink Sheets "Current Information" tier, under the
ticker symbol GCKO. 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™."
As a result of having its securities available for trading on the OTC
market, GeckoSystems is able to offer its shareholders ease of trading
through regulated broker-dealers, while providing transparency to its
investors, business partners, and customers.
"By making more company information publicly available as to stock
structure, beneficial owners, etc, GeckoSystems is attempting to foster an
efficient secondary trading market and provide greater understanding of our
business model for investors, advisors, and regulators in the OTC market,"
said Martin Spencer, President/CEO, GeckoSystems. "We hope that our meeting
the Current Information guidelines will allow us to better satisfy the needs
of our stakeholders, by providing high quality disclosure to investors via
Pink Sheets."
The term "OTC securities" is a catchall phrase for any equity security that
is not listed on a U.S. stock exchange. The OTCQX and Pink Sheets
marketplaces constitute, by dollar volume, the third largest U.S. liquidity
pool for trading public company shares, after The NASDAQ Stock Market, Inc.
and The New York Stock Exchange.
In the last three years GeckoSystems secured its trading symbol, GCKO, by
satisfying FINRA's 15c2-11 requirements. Subsequently GeckoSystems became
DTC eligible and a DRS participant to further enhance stockholder liquidity
and value. Now GeckoSystems has satisfied Pinksheets requirements to be
designated: Current Information.
Due to the need for equity financing for high growth firms, GeckoSystems has
worked for over ten years to become fully reporting as soon as financially
viable. In fact, the Company has been successfully audited twice, for two
year periods each, and found to be fully compliant under thorough outside
financial audits prepared by SEC certified CPA firms with the Financial
Accounting Standards Board's (FASB's) generally accepted accounting
principles (GAAP) on both occasions since founding.
"Due to the level of risk inherent in high tech, emerging market Development
Stage firms such as ours, we understand clearly that only equity (not debt)
instruments can provide sufficient return on investment (ROI) for investors
to assume the risk of purchasing any high tech, emerging market stock such
as GCKO stock. Hence our long time efforts in this regard, and determination
to continue our move upward to not only a more pronounced domestic stock
exchange, but also those with international reach, such as OTCQX," observed
Spencer.
GeckoSystems received their Pink Sheet trading symbol, GCKO, from FINRA as a
result of satisfying all their due diligence requirements from the filing of
a Form 15c2-11. The Company has no unaccounted for, or otherwise missing,
shares outstanding and issued. "We worked for nearly a year in preparing our
initial 15c2-11 submission to, and addressing the comments of, FINRA prior
to their issuance of our trading symbol, GCKO. 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. As a DRS Participant, the
ability to trade GCKO stock electronically is even more streamlined,
efficient, transparent, and reliable," stated Spencer.
DRS provides for the electronic direct registration of securities in an
investor's name on the books of the transfer agent or issuer. It allows
shares to be transferred between a transfer agent and a broker
electronically through the industry's DRS Profile Systems. Historically,
investors hold their shares either in "street name" with their broker, or
they are "registered shareholders" and have a certificate. Consequently, the
Company is in a position, as a DRS participant, to readily identify those
parties engaging in "naked short selling" of GCKO stock.
Mr. Spencer received his Masters in Business Administration from the J. Mack
Robinson College of Business, Georgia State University, Atlanta, Georgia, in
1987. Consequently he is formally trained and educated for the professional
management of publicly traded domestic and international corporations. (See
http://robinson.gsu.edu/index.html for more information.)
"We are very pleased to be able to offer our stockholders this new,
heightened level of corporate transparency and greater ease in their
transfers of their GCKO holdings trading in the Pink Sheets in the Current
Information tier. We wish to assure our stockholders that this greater
efficiency in the marketplace for our stock will further enhance the value
and liquidity of GCKO stock and increase the ROI for them as we continue in
our efforts to move upward to more pronounced domestic and international
stock exchanges," reflected Spencer.
SOURCE: GeckoSystems Intl. Corp.