Weird Behaviour WebCamTexture to GUITexture

Hi, I am working with WebCamTexture.

Here is my script place it on a GUITexture, it should work, you can skip the debug GUIText:

 ----------
 
     using UnityEngine;
     using System.Collections;
     using System.IO;
     
     
     public class PhotoShoot : MonoBehaviour {
     
     
     public string deviceName;
     public GUIText debugHeight;
     public GUIText debugWidth;
     
     
      WebCamTexture wct;
     
         // Use this for initialization
         void Start () {
         
     
         WebCamDevice[] devices = WebCamTexture.devices;
         deviceName = devices[0].name;
         wct = new WebCamTexture(deviceName, 360, 360, 20);
         wct.requestedHeight = 360;
         wct.requestedWidth = 360;
         guiTexture.texture = wct;
         
         wct.Play();
         guiTexture.pixelInset = new Rect(wct.width, wct.height, 
                                          -wct.width*2, -wct.height*2);
 
         }
         
         // Update is called once per frame
         void Update () {
         
         debugHeight.text = wct.height.ToString();
         debugWidth.text = wct.width.ToString();
         //transform.rotation = baseRotation * Quaternion.AngleAxis(wct.videoRotationAngle, Vector3.up);
     
         }

So.. I gain access to the device camera and it renders the image on the device, It's rotated to the right. But's that not the real problem.

The problem is that as I rotate the device, the image stretches and contracts. A perfectly shaped circle turns into an oval.

Where is the problem? The GUITexture? The resolution? How can I achieve a "Camera" to take photos that works properly using WebCamTexture?

I am using Unity 4.3.6f, an iPhone 5 as my device, in portrait orientation.