Vystar Corp Files Q3 2024 10-Q Report

TL;DR

Vystar Corp's Q3 10-Q is in: financials updated through Sept 30, 2024. Check it for the latest numbers.

AI Summary

Vystar Corp filed its Q3 10-Q report for the period ending September 30, 2024. The filing details financial information for the company, including its balance sheet and income statement data for the nine months ended September 30, 2024, and comparative periods. Key financial statement items like preferred stock, common stock, and additional paid-in capital are presented for fiscal year-end 2023 and interim periods.

Why It Matters

This filing provides investors and analysts with the latest financial performance and position of Vystar Corp, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the specific financial details and any disclosed risks within the full report could indicate higher risk.

Key Numbers

• 2024-09-30 — Reporting Period End Date (This is the latest date for which financial information is provided in the 10-Q.)
• 2023-12-31 — Comparative Year-End Date (Provides a year-over-year comparison point for financial metrics.)
• 2024-01-01 — Quarterly Period Start Date (Marks the beginning of the nine-month period covered by the report.)
• 2023-07-01 — Prior Year Quarter Start Date (Used for year-over-year quarterly comparisons.)

Key Players & Entities

• Vystar Corp (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period for the 10-Q
• 2023-12-31 (date) — Comparative fiscal year-end date for financial data
• 725 SOUTHBRIDGE ST (address) — Vystar Corp's business and mailing address
• WORCESTER, MA (location) — City and State of Vystar Corp's address

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1350KB
• ex31-1.htm (EX-31.1) — 18KB
• ex32-2.htm (EX-32.1) — 9KB
• 0001493152-24-045015.txt ( ) — 7724KB
• vyst-20240930.xsd (EX-101.SCH) — 55KB
• vyst-20240930_cal.xml (EX-101.CAL) — 75KB
• vyst-20240930_def.xml (EX-101.DEF) — 273KB
• vyst-20240930_lab.xml (EX-101.LAB) — 461KB
• vyst-20240930_pre.xml (EX-101.PRE) — 395KB
• form10-q_htm.xml (XML) — 1286KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements: Condensed Consolidated Balance Sheets at September 30, 2024 (unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 (unaudited) and 2023 (unaudited) 5 Condensed Consolidated Statements of Stockholders' Deficit for the Three and Nine Months Ended September 30, 2024 (unaudited) and 2023 (unaudited) 6-7 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 (unaudited) and 2023 (unaudited) 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 40

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 41

SIGNATURES

SIGNATURES 42 3 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS VYSTAR CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS September 30, December 31, 2024 2023 ( Unaudited ) ASSETS Current assets: Cash $ 27,772 $ 35,442 Accounts receivable 11,373 4,251 Inventories 78,312 43,821 Prepaid expenses and other 301,105 348,275 Assets of discontinued operations 6,402 60,213 Total current assets 424,964 492,002 Property and equipment, net 65,625 97,719 Other assets: Intangible assets, net 98,868 122,655 Total assets $ 589,457 $ 712,376 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 1,232,434 $ 1,071,604 Accrued expenses 533,099 450,438 Stock subscription payable 2,818,841 2,388,926 Shareholder, convertible and contingently convertible notes payable and accrued interest - current maturities 375,042 356,472 Related party debt - current maturities, net of debt discount 549,551 176,872 Derivative liabilities 250,000 - Unearned revenue 44,337 44,379 Related party advances 86,254 75,281 Liabilities of discontinued operations 1,829,662 1,350,910 Total current liabilities 7,719,220 5,914,882 Long-term liabilities: Related party advances - 343,694 Liabilities of discontinued operations 2,918,005 3,494,005 Total long-term liabilities 2,918,005 3,837,699 Total liabilities 10,637,225 9,752,581 Stockholders' deficit: Convertible preferred stock series class A, $ 0.0001 par value 15,000,000 shares authorized; 8,698 shares issued and outstanding at September 30, 2024 and December 31, 2023 (liquidation preference of $ 185,000 and $ 179,000 at September 30, 2024 and December 31, 2023, respectively) 1 1 Convertible preferred stock series B, $ 0.0001 par value 2,500,000 shares authorized; 336,131 and 370,969 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively (liquidation preference of $ 2

View Full Filing

View this 10-Q filing on SEC EDGAR