SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2015
Notes to Financial Statements
Note 14. SUBSEQUENT EVENTS	Effective February 5, 2016, Lawrence L. Lemoine assumed the offices of both Chief Operating Officer and Chief Financial Officer of the Company. Richard E. Conn, the previous Chief Financial Officer of The Guitammer Company has retired from his offices with the Company effective on the same date. Before joining the Company, Mr. Lemoine, age 64, was CEO of Wave Entertainment Network where he created and successfully launched a new entertainment platform of a “first of its kind” IPTV worldwide entertainment platform for the maritime and hospitality industries. Prior to Wave, he was VP Finance of DIRECTV, involved in DIRECTV’s growth from the early stages to a subscriber base of over 12 million. In addition, Mr. Lemoine held the Controller post for the 1984 Olympic Organizing Committee, the most profitable Olympic Games in history and also served as an executive consultant to various start-ups that include a Paris-based satellite service organization, Daytona Prototype motor racing team (U.S.) and a sports video production organization. Mr. Lemoine and the Company entered into an agreement where he will receive 200,000 shares of common stock per month for three months and will receive $10,000 per month during this time period once the receipt by the Company of $6,000,000 of financing. On April 28, 2016, the Company’s Board of Directors approved the sale of 2,500,000 common shares for 5 cents per share the issuance of 5,000,000 warrants at an exercise price of 5 cents per share expiring on May 31, 2016 to an individual investor. On April 28, 2016, the Company’s Board of Directors approved the reduction of the exercise price of outstanding warrants to purchase its stock for 5 cents per share for all of the Company’s outstanding warrants with an exercise price greater than 5 cents per share solely during the time period beginning on April 28, 2016 and ending on May 31, 2016 On June 20, 2016, the Board of Directors declared a dividend to be paid to Preferred Stockholders, on record as of March 31, 2016, in common stock at a rate of $0.15 per share.

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2015

Effective February 5, 2016, Lawrence L. Lemoine assumed the offices of both Chief Operating Officer and Chief Financial Officer of the Company. Richard E. Conn, the previous Chief Financial Officer of The Guitammer Company has retired from his offices with the Company effective on the same date.

Before joining the Company, Mr. Lemoine, age 64, was CEO of Wave Entertainment Network where he created and successfully launched a new entertainment platform of a “first of its kind” IPTV worldwide entertainment platform for the maritime and hospitality industries. Prior to Wave, he was VP Finance of DIRECTV, involved in DIRECTV’s growth from the early stages to a subscriber base of over 12 million. In addition, Mr. Lemoine held the Controller post for the 1984 Olympic Organizing Committee, the most profitable Olympic Games in history and also served as an executive consultant to various start-ups that include a Paris-based satellite service organization, Daytona Prototype motor racing team (U.S.) and a sports video production organization. Mr. Lemoine and the Company entered into an agreement where he will receive 200,000 shares of common stock per month for three months and will receive $10,000 per month during this time period once the receipt by the Company of $6,000,000 of financing.

On April 28, 2016, the Company’s Board of Directors approved the sale of 2,500,000 common shares for 5 cents per share the issuance of 5,000,000 warrants at an exercise price of 5 cents per share expiring on May 31, 2016 to an individual investor.

On April 28, 2016, the Company’s Board of Directors approved the reduction of the exercise price of outstanding warrants to purchase its stock for 5 cents per share for all of the Company’s outstanding warrants with an exercise price greater than 5 cents per share solely during the time period beginning on April 28, 2016 and ending on May 31, 2016 On June 20, 2016, the Board of Directors declared a dividend to be paid to Preferred Stockholders, on record as of March 31, 2016, in common stock at a rate of $0.15 per share.

Guitammer Co 10-K