An unknown buyer entered into a merger agreement to acquire the remaining 44.08% stake in The Guitammer Company (OTCPK:GTMM) on February 25, 2021. Under the terms of the consideration, the minority common stock and preferred stock shareholders of The Guitammer will receive the merger consideration of $0.0019 and $0.0121 per share respectively. Following the Effective Time of the Merger,The Guitammer Company will file a petition to reorganize its debt obligations under Subchapter V of Chapter 11 of the Bankruptcy Code. The transaction has been approved by the board and majority shareholder of The Guitammer Company.