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.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Vystar's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Vystar's position in the market.
Vystar Corporation (OTCQB: VYST) announced that Rotmans, New England's largest furniture and flooring retailer, will begin liquidation on October 14, 2022, following a history of over 60 years in business. The liquidation sale offers over $20 million in deeply discounted inventory, including furniture and mattresses. Steve Rotman, the retiring CEO, has been a significant figure in the furniture industry and will shift focus to his role at Vystar. Despite the closure, Vystar continues to promote its environmentally friendly products, including Vytex Natural Rubber Latex and RxAir UV light air purification technologies.
Vystar Corporation (OTCQB: VYST) announced plans to split into two companies via a dividend, retaining Rotmans Furniture and adding Vytex latex to the RxAir NewCo spin-off. This strategic move aims to attract potential reverse mergers, which could yield higher revenue ($100-$150 million) and profits ($10-$15 million). The dividend record date is set for June 30, 2022. Vystar's focus on the retail furnishings and mattress market is designed to enhance appeal to merger partners. The successful combination of Vystar and Rotmans could create a cleaner, more valuable entity.
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.
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.
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.
FAQ
What is the current stock price of Vystar (VYST)?
What is the market cap of Vystar (VYST)?
