The Guitammer Company, a leader in low frequency sound and creator of the award-winning line of ButtKicker® audio transducers, announced today that CEO Mark A. Luden, Chief Financial Officer Rich E. Conn, and Director Walter J. Doyle acquired a collective 156,000 common shares of Guitammer in open market purchases this month. Luden, Conn, and Doyle purchased shares at prices ranging up to $0.35 per share.
"Pursuant to Guitammer's 'insider trading policy,' this represented the first opportunity for Walter, Rich and I to complete open market share purchases since the company began trading on the OTCBB," stated Mark Luden. "Our collective and growing optimism in Guitammer is based on the financial results the Company has posted year-to-date, noteworthy recent progress across our ButtKicker-branded business as reflected in the increasing global awareness of and demand for our products, and a belief that Guitammer's patent-protected ButtKicker LIVE!® broadcast technology is moving ever closer to becoming a commercial, recurring revenue-generating reality."
Today's news comes on the heels of a press release announcing a 210% increase in third quarter revenue versus the same period a year earlier, in addition to a 189% year-over-year increase in gross profit. Growing popularity of the ButtKicker brand, liquidity capable of supporting continued growth, and the continued development of the company's patented ButtKicker Live! technology has Guitammer well positioned to further increase shareholder value.
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