Guitammer's 2012 Sales to Australasia Market up Over 600% Compared to Full-Year 2011 Levels
- Proceeds from Recent Private Placement Providing Working Capital to Deliver Significant Core Business Growth as Total Sales Through August Already Exceed Full Year 2011 Level by 6% -
WESTERVILLE, Ohio, Sept. 5, 2012 -- The Guitammer Company (OTC BB: GTMM), a leader in low frequency sound and creator of the award-winning line of ButtKicker®-brand low frequency audio transducers that provide an immersive "4D" entertainment experience for audiences, announced today that it recently shipped new products to Pagnian Imports, its distributor for the Australasian market to meet strong demand ahead of the 2012 holiday season. Reflecting this shipment, Guitammer's 2012 sales to date to Pagnian Imports already exceed the Company's full-year 2011 sales by over 600%.
The higher level of sales recorded year to date compared to the full year sales in 2011 reflect ongoing consumer acceptance of Guitammer's ButtKicker brand products combined with the Company's increasing level of working capital that has allowed it to secure inventory and ship products to meet the growing demand.
Hess Ghahramanian, owner of Pagnian Imports said, "We are proud and also excited for the opportunity to partner with The Guitammer Company to distribute their fantastic products in Australia and New Zealand. The demand for the ButtKicker products has been huge in Australia, in fact the demand has often exceeded our stock levels so Guitammer's increasing ability to have available inventory to meet our growing demand bodes well for sustainable sales growth in our markets."
Ghahramanian added, "Customers absolutely love the ButtKicker products as they add a whole new level of immersion to movies, gaming and music that people have never experienced before as reflected in the many glowing endorsements we receive such as: '"It's absolutely brilliant and have recommended it to so many people already"' (Chris Tander) and '"Blown away by this product, my sim always felt real but this takes it that next step" (Daniel J). "We love reading reviews like this from our customers," concluded Ghahramanian.
Increasing consumer demand and Guitammer's better working capital position following the recent successful private placement offering, which raised $1.6 million in new growth capital, are also reflected in total sales to date (through August 30, 2012) that already exceed full-year fiscal 2011 sales of $1.3 million by over 6% with more than one full quarter of operations still to go in the year.
Mark Luden, CEO of Guitammer stated, "Our recently completed private placement offering has further strengthened the Company's working capital position, which has helped to drive an increase in our inventory levels commensurate with growing customer demand for ButtKicker branded products. As a result we continue to grow revenues from our core business products as we are more favorably positioned to meet demand from key partners including Hess Ghahramanian and his team at Pagnian Imports. We are extremely appreciative of the efforts Hess has put into distributing our products and even more pleased that we are now able to ship him product levels to meet the significantly increasing demand. We look forward to continuing to expand this relationship going forward."
About The Guitammer Company
The Guitammer Company 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 Company is headquartered in Westerville, OH.
The Guitammer Company's patented broadcast technology, ButtKicker LIVE! enables the excitement, impact and feeling of sporting events to be 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.guitammer.com.
About Pagnian Imports Pty. Ltd.
Pagnian Imports is home to Australia's #1 Racing Simulator Cockpits and our products have been featured in Top Gear, Gizmodo, PC Authority, Games.on.net, Alpha Magazine, Crank & Piston and more. The Company is headquartered in Burleigh Heads on Australia's Gold Coast. For additional information visit www.pagnianimports.com.au.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in this press release, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
Neither the shares nor the shares of common stock issuable pursuant to the warrant issuance have been registered under the Securities Act of 1933, as amended, or any state securities laws and unless so registered may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.
FOR MORE INFORMATION CONTACT:
THE GUITAMMER COMPANY
JOSEPH JAFFONI, ROBERT RINDERMAN
212/835-8500 OR GTMM@JCIR.COM
SOURCE The Guitammer Company