Vystar Corp Files 2023 10-K

TL;DR

Vystar Corp's 2023 10-K is in. Full financials and stock details released.

AI Summary

Vystar Corp filed its 2023 10-K on September 6, 2024, reporting its financial performance for the fiscal year ending December 31, 2023. The filing details the company's operations in the fabricated rubber products sector. Key financial data and disclosures regarding its preferred stock series (A, B, and C) and common stock are included, along with information on additional paid-in capital and retained earnings.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of Vystar Corp's financial health and operational status for the fiscal year 2023, enabling informed decision-making.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the nature of the business and potential for financial disclosures could carry inherent risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2024-09-06 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• Vystar Corp (company) — Filer of the 10-K
• 2023-12-31 (date) — Fiscal year end
• 20240906 (date) — Filing date
• 725 SOUTHBRIDGE ST WORCESTER MA 01610 (address) — Company business and mailing address
• Series A Preferred Stock (stock) — Mentioned in financial disclosures
• Series B Preferred Stock (stock) — Mentioned in financial disclosures
• Series C Preferred Stock (stock) — Mentioned in financial disclosures

FAQ

Key Financial Figures

• $0.0001 — ) of the Act: Common Stock, par value $0.0001 per share Indicate by check mark if t
• $35,442 — December 31, 2023 our cash position was $35,442 and we had an accumulated deficit of $5
• $58,243,258 — 42 and we had an accumulated deficit of $58,243,258. We plan to finance our operations for

Filing Documents

• form10-k.htm (10-K) — 1596KB
• ex31.htm (EX-31) — 19KB
• ex32.htm (EX-32) — 10KB
• 0001493152-24-035353.txt ( ) — 8771KB
• vyst-20231231.xsd (EX-101.SCH) — 73KB
• vyst-20231231_cal.xml (EX-101.CAL) — 96KB
• vyst-20231231_def.xml (EX-101.DEF) — 289KB
• vyst-20231231_lab.xml (EX-101.LAB) — 638KB
• vyst-20231231_pre.xml (EX-101.PRE) — 469KB
• form10-k_htm.xml (XML) — 1292KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 12 Item 2.

Properties

Properties 12 Item 3.

Legal Proceedings

Legal Proceedings 12 Item 4. Mine Safety Disclosures 13 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 14 Item 6.

Selected Financial Data

Selected Financial Data 15 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 21 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 21 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 22 Item 9A.

Controls and Procedures

Controls and Procedures 22 Item 9B. Other Information 23 Part III Item 10. Directors, Executive Officers and Corporate Governance 23 Item 11.

Executive Compensation

Executive Compensation 26 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 27 Item 13. Certain Relationships and Related Transactions, and Director Independence 29 Item 14. Principal Accountant Fees and Services 30 Part IV Item 15. Exhibits and Financial Statement Schedules 32 Item 16. Form 10K Summary 34

Signatures

Signatures 35 2 CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS Certain oral and written statements made by Vystar Corporation about future events and expectations, including statements in this Annual Report on Form 10-K (the "Report") contain forward-looking statements, within the meaning of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the Securities Act of 1933, as amended (the "Securities Act"), that involve risks and uncertainties. For those statements, we claim the protection of the safe-harbor for forward-looking statements contained in the Private Securities Litigation Act of 1995. In some cases, forward-looking statements are identified by words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and similar expressions. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this Report or the statement. All of these forward-looking statements are based on information available to us at this time, and we assume no obligation to update any of these statements. Actual results could differ from those projected in these forward-looking statements as a result of many factors, including those identified in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere. We urge you to review and consider the various disclosures made by us in this Report, and those detailed from time to time in our filings with the Securities and Exchange Commission (the "SEC"), that attempt to advise you of the risks and factors that may affect our future results. We qualify any forward-looking statements entirely by these cautionary factors. The above-mentioned risk factors are not all-inclusive. Given these uncertainties and that such statements, speak only as of the date made; you should not place undue reliance on forward-looking statements. We undertake no obligation to update publicly or revise any forward

BUSINESS

BUSINESS Overview Vystar Corporation ("Vystar", the "Company", "we," "us," or "our") is based in Worcester, Massachusetts. Vystar is the owner and manufacturer of multiple brands of eco-friendly products for the home, office and medical sectors. Vystar is the creator and exclusive owner of the innovative technology to produce Vytex Natural Rubber Latex ("NRL"). Our global multi-patented technology reduces antigenic and total protein in natural rubber latex products to virtually undetectable levels. Vytex NRL, our "ultra-low protein" natural rubber latex has been introduced throughout the worldwide marketplace that uses NRL or latex substitutes as a raw material for end products. Natural rubber latex or latex substitutes are used in an extensive range of products including balloons, foams, textiles, adhesives, carpet, paints, coatings, protective equipment, sporting equipment, and especially health care products like surgical and exam gloves and condoms. Vystar has expanded Vytex into the consumer arena with an introduction into the bedding category, aligning with key foam manufacturers to create mattresses, mattress toppers and pillows. Through this effort, Vystar can bring the benefits of great sleep and a more natural product to the public. Vystar is also bringing peace of mind to consumers in the clean-air space. RxAir is the manufacturer of the finest air purification system in the world and an innovative developer, manufacturer and distributor of bio technology products targeting the rapidly growing Indoor Air Quality ("IAQ") industry sector. RxAir's products include the RxAir purification system for the home as well as one of the world's finest lines of hospital-grade HEPA filtration products. All of our products are FDA certified as Class II medical devices and kill germs viruses and bacteria. Vystar has acquired the assets of Fluid Energy Conversion (FEC). FEC has taken a position as a global green energy company with a multitude of new technologie

View Full Filing

View this 10-K filing on SEC EDGAR