FOR IMMEDIATE RELEASE
Contact: Joseph Jaffoni, Robert Rinderman
J C I R
212-835-8500 or email@example.com
Westerville OH, April 9, 2012
The Guitammer Company (OTC BB: GTMM), a leader in low frequency sound and developer of the revolutionary, award-winning line of ButtKicker® brand low frequency audio transducers released its 10- K, Annual Report on Friday April 6th.
Highlights for the Year Include:
According to Mark A. Luden, President of Guitammer, “2011 was a transitional year for the Company that laid the foundation for growth for our ButtKicker brand products business, and more importantly for our new haptic / tactile broadcast business, “ButtKicker Live!. We are exceptionally pleased that our broadcast patent, “Capture and remote reproduction of haptic events in synchronous association with the video and audio capture and reproduction of those events” was issued in 2011.
We believe this new technology has the ability to revolutionize the way sports are broadcast and watched and can move us to a recurring revenue / technology licensing business model.
In 2011 we successfully transitioned the Company from a private company to a publicly traded OTC BB company by means of a Form 10 filing and not a reverse merger. By going public we were able to significantly strengthen our balance sheet. We extinguished debt and began bringing in new equity via our Private Placement Memorandum.
Post 12/31/11 we have continued this strengthening with more than $400k more of debt extinguished and an additional $375k of new equity investment received in the Q1 of FY2012.
All told, as of the date of the 10-K filing, we have strengthened our balance sheet by more than $2.35mil and improved our cash flow by over $24k per month.
Compared to FY2010, our sales in FY2011 were basically “flat”, with a slight decrease of 1%.
However, we increased our gross margins to 42% from 40%, and reduced our EBITDA loss less non cash warrant expenses by over $186k.
With our balance sheet strengthened, we believe we will be able to significantly grow sales and begin the rollout of our “ButtKicker Live!” broadcast technology. We are very positive about the direction of the Company in the coming year.”
About The Guitammer Company
The Guitammer Company, Westerville, Ohio, is a leader in low frequency sound products and technology. Its innovative and award winning line of patented ButtKicker-brand low frequency audio transducers let users feel low-frequency sound (bass). ButtKicker brand products are used around the world by leading entertainment and theater companies such as AMC, IMAX and Disney in movie theaters and attractions; by world-famous musicians; in home theaters, simulators and for car audio. ButtKicker brand products are distributed by Pearl Drums for musicians under the trade name, ”Pearl’s Throne Thumper by ButtKicker”, and factory installed in home theater seating by Palliser Furniture. “ButtKicker brand products patented design makes them musically accurate, powerful and virtually indestructible.
The Guitammer Company's newly patented broadcast technology, ButtKicker LIVE! enables the excitement, impact and feeling of sporting events to broadcast along with the sound and video. ButtKicker LIVE! puts you into the action, whether you’re at home or at the event. ButtKicker Live! technology is available for cable, satellite, fiber optic, IPTV and over-the-air broadcast and has been successfully tested with several major content (sports) providers. ButtKicker® and ButtKicker Live!® are registered trademarks of The Guitammer Company. For additional information, visit www.thebuttkicker.com and www.shakemycouch.com