This post first appeared on Micro Cap Daily
Vystar Corp. (OTC: VYST) has been moving up steadily in recent days; the stock saw a spectacular rise starting in January of this year from $0.0005 to highs of $0.158.
Vystar® Corporation (OTC Pink:VYST) based in Worcester, Mass., Vystar(R) is the exclusive creator of Vytex Natural Rubber Latex (NRL), a multi-patented, all-natural, raw material that contains significantly reduced levels of the proteins found in natural rubber latex and can be used in over 40,000 products, and the owner of RxAir UV light air purification products. Vytex NRL is a 100% renewable resource, environmentally safe, “green” and fully biodegradable. Vystar is working with manufacturers across a broad range of consumer and medical products bringing Vytex NRL to market in adhesives, gloves, balloons, condoms, other medical devices and natural rubber latex foam mattresses, toppers, and pillows.
Vytex Natural Rubber Latex (NRL), a multi-patented, all-natural, raw material that contains significantly reduced levels of the proteins found in natural rubber latex and can be used in over 40,000 products. Vytex NRL is a 100% renewable resource, environmentally safe, “green” and fully biodegradable.
Earlier this year VYST announced new and improved RxAir [(R)] UV Light Air Purifiers are now available to combat cold, flu and other airborne germs that are more pervasive during the winter. Vystar acquired RxAir approximately nine months ago and immediately began upgrading the air purifiers to improve performance and longevity. The first upgraded RxAir units are now available for purchase via RxAir.com, Rotmans.com, Rotmans Furniture & Carpet in Worcester, Mass., and RxAir medical distributors.
New units now available feature a higher grade UV light bulb that lasts longer and produces longer UV wave length for more efficient killing/inactivation of bacteria, germs and other pathogens. The new units also offer improved alert codes to more easily identify when action, such as replacing a bulb cartridge, is needed.
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Earlier in March VYST announced it has made payment of $142,000 including principal of $103,000, and interest of 12% and fees to retire the convertible promissory note held by PowerUp Lending Group, Ltd. (PowerUp) dated October 23, 2018.
On March 7 VYST announced FirstFire Global Opportunities Fund, LLC (FirstFire), an institutional investor who previously provided funding to Vystar, has invested $200,000 in Vystar at $0.15 per restricted common share, a 250 percent premium to yesterday’s market close. The stock purchase has no rights for conversion or warrants associated with it. FirstFire is permitted to participate in any of the Company’s upcoming investment rounds in an amount up to $200,000 on the same terms Vystar offers to other investors for the next nine months.
“It is almost unheard of for an OTC company — and an exciting, positive development for Vystar — to have a lender retire a convertible note and then become an institutional investor on favorable terms,” stated Steve Rotman, CEO of Vystar. “We are pleased to have such a vote of confidence and FirstFire’s support to help us move forward.”
“We welcome FirstFire as our first institutional investor and look forward to a long and mutually beneficial relationship,” Rotman noted. “Cleaning up our balance sheet by retiring all toxic convertible debt is a necessary step in the process of executing our strategic business plan to expand the company organically and through accretive acquisitions designed to improve our earnings per share. This multi-step event validates our business plan.”
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Currently trading at a $41 million market valuation VYST has $438k in the treasury, manageable debt and fast growing sales reporting $191,667 for the 3 months ended March 31, 2019. VYST is an exciting story developing in small caps; the Company ) is the exclusive creator of Vytex Natural Rubber Latex (NRL), a multi-patented, all-natural, raw material that contains significantly reduced levels of the proteins found in natural rubber latex and can be used in over 40,000 products. We will be updating on VYST when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with VYST.
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Disclosure: we hold no position in VYST either long or short and we have not been compensated for this art
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This post first appeared on Micro Cap Daily