Welcome to our dedicated page for Vystar news (Ticker: VYST), a resource for investors and traders seeking the latest updates and insights on Vystar stock.
Vystar Corporation reports news about its diversified innovation businesses, including RxAir UV-C air purification products, Vytex Natural Rubber Latex, Fluid Energy Solutions and GoPaid collectibles monetization. Company updates commonly address eco-friendly product development, air purification certifications and applications, collectible-tokenization initiatives, and technology uses in water filtration, flow metering and air processing.
Vystar news also includes public-company subjects such as capital-structure disclosure, shareholder voting matters, governance updates, operating results and legal developments tied to corporate finance disputes.
Vystar Corporation (OTCQB: VYST) announced the integration of its subsidiary Fluid Energy Conversion, Inc. (FEC) into the RxAir spin-off, set for early 2022. This strategic move aims to enhance research and development in air and water purification, leveraging FEC's patented Hughes Reactor technology. The spin-off will allow Vystar to concentrate on its retail business and environmentally friendly products. Dr. Bryan Stone will lead RxAir NewCo, focusing on advancing air purification methods and addressing critical clean water needs due to severe droughts.
Vystar Corporation (OTCQB: VYST) plans to spin off its RxAir UV light air purification business into a separate publicly traded entity, RxAir NewCo. This move is designed to create a pure-play investment opportunity for shareholders, who will receive shares in RxAir NewCo as a dividend. The Record Date for this dividend is January 5, 2022, and shareholders will receive approximately 2857 shares of RxAir NewCo for every 100,000 shares of Vystar held. The expected opening share price for RxAir NewCo is projected to be $2.00.
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Vystar Corporation (OTCQB: VYST) announced the completion of Phase 1 renovations at Rotmans Furniture, set to reopen on June 16. The remodel includes a redesigned entrance and bedding area, repurposing 90,000 sq. ft. of showroom into warehouse space, and introducing curated furniture lines. The recent "Closing to Remodel" sale exceeded all previous revenue records. CEO Steve Rotman emphasized improved customer service with quicker delivery options and a return to custom orders. The Grand Reopening Event is planned for fall following ongoing renovations.
Vystar Corporation's Rotmans Furniture will reopen on June 14 after completing Phase 1 of renovations, which involved redesigning the entry and bedding area and repurposing 90,000 sq. ft. of showroom into warehouse space for greater in-stock inventory. The remodel aims to enhance customer experience by providing a curated selection of furniture and immediate delivery options. The company experienced record sales during its remodeling event, exceeding previous quarterly revenues. Custom orders will also resume post-COVID, accommodating customer demand for bespoke furniture.
Vystar Corporation (OTCQB: VYST) has partnered with Nothing in the Air (NITA) to market its RxAir ultraviolet light air purifier line. NITA aims to enhance VYST's distribution through online and television marketing. The RxAir product is FDA-cleared and proven effective in eliminating airborne pathogens without chemicals. A ROKU advertising campaign launches on June 3, targeting Los Angeles and expanding to other platforms. The campaign emphasizes the importance of indoor air quality and the health benefits of the RxAir air purification system.
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Vystar Corporation (OTCQB: VYST) reported record financial results for Q1 2021, with revenue of $12.87 million, up 117% year-over-year. The surge was attributed to a successful ‘Closing to Remodel’ sale at Rotmans Furniture and increased sales of RxAir UV air purifiers that eliminate over 99.6% of airborne pathogens. Gross profit rose to $6.79 million, a 126% increase. Net income reached $918,127, compared to a loss of $1.37 million in Q1 2020. Operating expenses increased by 51% to $5.82 million, primarily due to heightened advertising and third-party agent fees.
Vystar Corporation (OTCQB: VYST) has appointed Byron Novosad, DDS, to its Board of Directors, replacing retired member Keith Osborn, MD. CEO Steve Rotman expressed gratitude for Dr. Osborn's service and welcomed Dr. Novosad, noting his extensive experience and commitment as an investor and advisor. Dr. Novosad aims to enhance shareholder value through strategic execution and communication of Vystar's vision, particularly in health-related product lines such as RxAir UV purifiers and Vytex deproteinized latex. His background and insights are expected to positively influence Vystar's future growth.
Vystar Corporation (OTCQB: VYST) has partnered with 5W Public Relations to enhance media presence and brand recognition for its RxAir UV light air purification products. This collaboration aims to address growing consumer concerns about airborne disease transmission due to the COVID-19 pandemic. 5WPR will implement a targeted media relations program and influencer campaigns to promote RxAir's effectiveness in eliminating 99.9% of airborne viruses, including various strains of coronaviruses. RxAir products are FDA cleared as Class II Medical Devices, designed initially for healthcare environments.