The Guitammer Company, a leader in low frequency sound and creator of the award-winning line of ButtKicker®-brand low frequency audio transducers that provide an immersive entertainment experience, announced this morning that The Director of the Ohio Development Services Agency and the company have entered into an agreement to modify its loan payment schedule.
Previously scheduled to be due in full by July of 2014, the loan was modified to have a longer amortization timeframe. The modification was made to reduce Guitammer’s monthly payment by approximately $16.5k per month for 2013 and by $14.6k per month for 2014 from the previous schedule. This equates to an annual cash flow enhancement of approx. $200k this year and $175k in 2014.
“This modification combined with the significant improvements the company made to its balance sheet last year, including reduced debt, decreased interest rates, reduction in working capital deficits and increased levels of inventory, are helping to bring the company closer to positive cash flow on its core business. In addition to giving us more operational leeway, the increased cash flow will provide more support as we continue to advance the commercialization of our ButtKicker Live! broadcast technology,” stated Guitammer’s Chief Financial Officer, Richard Conn.
For more information on the company, visit www.Guitammer.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment