Unity GUI Tutorial - Scale GUIText to the right size for every resolution

A while ago I did a video on how to do this for GUITextures, both that video and this one can be found on this page: http://www.devination.com/2014/01/unity-gui-tutorial-scale-gui-to-right.html

Check out the code below the videos
GUIText

This Unity Tutorial will show you how to make your GUI automatically scale to the right size for every screen resolution and aspect ratio.

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Check out the videos above to hear the explanation and see the code in action

/*/
* Script by Devin Curry
* www.Devination.com
* www.youtube.com/user/curryboy001
* Please like and subscribe if you found my tutorials helpful :D
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* Twitter: https://twitter.com/Devination3D
* Facebook Page: https://www.facebook.com/unity3Dtutorialsbydevin
*
* Attach this script to a GUITexture or GUIText to fix its scale to the aspect ratio of the current screen
* Change the values of scaleOnRatio1 (units are in % of screenspace if the screen were square, 0f = 0%, 1f = 100%) to change the desired ratio of the GUI
* The ratio is width-based so scaleOnRatio1.x will stay the same, scaleOnRatio1.y will based on the screen ratio
*
* The most common aspect ratio for COMPUTERS is 16:9 followed by 16:10
* Possible aspect ratios for MOBILE are:
* 4:3
* 3:2
* 16:10
* 5:3
* 16:9
/*/
using UnityEngine;
using System.Collections;

public class GUIAspectRatioScale : MonoBehaviour 
{
 public Vector2 scaleOnRatio1 = new Vector2(0.1f, 0.1f);
 private Transform myTrans;
 private float widthHeightRatio;

 void Start () 
 {
  myTrans = transform;
  SetScale();
 }
 //call on an event that tells if the aspect ratio changed
 void SetScale()
 {
  //find the aspect ratio
  widthHeightRatio = (float)Screen.width/Screen.height;
  
  //Apply the scale. We only calculate y since our aspect ratio is x (width) authoritative: width/height (x/y)
  myTrans.localScale = new Vector3 (scaleOnRatio1.x, widthHeightRatio * scaleOnRatio1.y, 1);
 }
}