Vystar Corp. Common Stock OTCMKTS: VYST 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. For more information, visit www.vytex.com.
On February 7th, 2019 Vystar decided to resume its production of the Rx3000™, a hybrid air purifier designed by biomedical engineers specifically for hospitals. The Rx3000 combines powerful germicidal ultraviolet (UV) light with a patented 5-stage HEPA filtration proven in independent EPA- and FDA-certified laboratory testing to destroy on first pass over 99.97% of airborne viruses, bacteria and other contaminants. Vystar acquired the assets and patented intellectual property related to the Rx3000, RxAir™, custom filtration and other UV light air purification technologies from UV Flu Technologies in 2018 after production had stopped.
The Rx3000 UV light air purification system for hospitals, which has been proven in laboratory tests to inactivate airborne pathogens, will be available in the second quarter of 2019 via Vystar’s medical distribution network.
Rx3000 is used in over 400 hospitals and is FDA-cleared as a Class II Medical Device. Priced at less than $5,000 per unit to service a 1,500 – 3,000 sq. ft. area, Rx3000 is very cost effective. Vystar also acquired all of the equipment necessary to make the custom filters used in the Rx3000. These large multi-stage filters retail for approximately $800 and last up to 1 year, depending on use. Vystar expects the first new Rx3000 units will be available to hospitals in the second quarter of 2019 via Vystar’s medical distribution network partners.
“Measles, influenza, strep, MRSA (staph), pneumonia, tuberculosis and other airborne illnesses are a major concern for hospitals and healthcare facilities year round,” stated Bryan Stone, MD, Internal Medicine and Nephrology, Chief of Medicine for Desert Regional Medical Center, and expert consultant for medical application and technology development. “We believe it is important that hospitals have access to the Rx3000 technology that helps reduce risk of infection from airborne antibiotic-resistant viruses and bacteria. We also encourage consumers to stay up to date on their vaccinations and follow good hygiene practices by frequently washing their hands with soap and water.”
On March 7th, 2019 the company announced that 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.”