Vystar Corp. Changes Auditors

TL;DR

Vystar swapped auditors, no disagreements reported.

AI Summary

Vystar Corp. announced on May 3, 2024, that it has dismissed its principal independent registered public accounting firm, MaloneBailey, LLP. The company has not had any disagreements with Malone Bailey, LLP on any matter of accounting principles or practices, financial statement disclosure, or other matters. Vystar Corp. has engaged Withum+Katz, LLP as its new independent registered public accounting firm.

Why It Matters

A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors should monitor.

Risk Assessment

Risk Level: low — This filing reports a routine change of auditors without any stated disagreements, which is typically a low-risk event.

Key Players & Entities

• Vystar Corp. (company) — Registrant
• Malone Bailey, LLP (company) — Former principal independent registered public accounting firm
• Withum+Katz, LLP (company) — New principal independent registered public accounting firm
• May 3, 2024 (date) — Date of earliest event reported

FAQ

Filing Documents

• form8-k.htm (8-K) — 39KB
• 0001493152-24-025533.txt ( ) — 204KB
• vyst-20240503.xsd (EX-101.SCH) — 3KB
• vyst-20240503_lab.xml (EX-101.LAB) — 33KB
• vyst-20240503_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 3, 2024 VYSTAR CORPORATION (Exact Name of Registrant as Specified in Charter) Georgia 000-53754 20-2027731 (State or Other Jurisdiction of Incorporation (Commission File Number) (IRS Employer Identification No.) 101 Aylesbury Rd. Worcester , MA 01609 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (508) 791-9114 n/a (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Type of each Class Trading Symbol(s) Name of each exchange on which registered Common VYST None Indicate by checkmark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) of Rule 12B-2 of the Securities Exchange act of 1934 (240.12b-2 of this chapter). Emerging Growth Company If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 4.01 Changes in Registrant's Certifying Accountant. (a) Although BFBorgers CPA PC ("BFBorgers") was recently engaged as Vystar Corporation's independent registered public accounting firm as of February 20, 2024, the Company was promptly required to dismiss BF Borgers as its independent registered public accounting firm effective May 3, 2024. On such date, the Securities and Exchange Commission (the "Commission") issued an order reporting that it had settled administrative and cease-and-desist proceedings against BF Borgers, and its sole audit partner, Benjamin F. Borgers CPA, permanently barring BF Borgers and Mr. Borgers from appearing or practicing before the Commission as an accountant. BFBorgers did not provide any accounting services to the Company prior to its dismissal, and thus, such engagement and dismissal has no effect on the Company's financial statements, and BFBorgers did not, and had not opportunity to, provide an adverse opinion or a disclaimer of opinion. The U.S. Securities and Exchange Commission (the "SEC") has advised that, in lieu of obtaining a letter from BF Borgers stating whether or not it agrees with the statements herein, the Company may indicate that BF Borgers is not currently permitted to appear or practice before the SEC for reasons described in the SEC's Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order, dated May 3, 2024. (b) Effective June 4, 2024, the Company re-engaged Marcias Gini & O'Connell, LLP ("MGO") as its independent public accounting firm. MGO had previously resigned on December 6, 2023. During the two most recent fiscal years and any subsequent interim period, MGO was the Company's independent registered public accounting firm. Further, during the Company's two most recent fiscal years and subsequent interim period, the Company and MGO did not discuss any matter that was the subject of a disagreement or a reportable event. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VYSTAR CORPORATION Date: June 25, 2024 By: /s/ Jamie Rotman Name: Jamie Rotman Title: President/Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR