vystar corp (VYST) Key Developments
Vystar Corp. Announces Consolidated Earnings Results for the Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
Apr 24 15
Vystar Corp. announced consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenue of $650,991 compared to $332,692 in 2013, an increase of $318,299 over 2013. The company’s revenue expectations for 2013 and 2014 were negatively affected by the failure of the Seller of SleepHealth and contract General Manager to deliver any of the promised Durable Medical Equipment revenue and the Seller of Kiron and contracted Medical Director dissolving his Limited Liability Company and not continuing in this role. The company reduced its net loss by 42.9% with a loss of $1.44 million versus $2.51 million for 2013. For the years ended December 31, 2014 and 2013, net loss per share was $0.03 and $0.08 respectively.
The company provided earnings guidance for the year 2015. The company expects that it is already seeing the benefits of the steps it took in 2014 that are translating to improved financial performance in 2015.
Vystar Corporation announced delayed annual 10-K filing
Mar 31 15
On 03/31/2015, Vystar Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC.
Ranjit K. Matthan Joins Vystar Corporation's Board of Directors
Mar 12 15
Ranjit K. Matthan has joined Vystar Corporation's Board of Directors. Dr. Matthan has been a consultant to Vystar since 2008 and has played a significant role in the manufacturing scale up of reduced-protein Vytex® natural rubber latex (NRL) in Malaysia and refining the research and development of manufacturing processes for applications using Vytex NRL, such as latex foam, condoms, adhesives, medical devices, etc.
Vystar Corp Announces Executive Changes
Feb 19 15
On February 18, 2015, Vystar Corp. announced that Warren S. Binderman agreed to become the company's Acting Chief Financial Officer, succeeding William R. Doyle, the interim Chief Financial Officer of the company. Mr. Doyle continues to be the Chairman, President and Chief Executive Officer of the company. Mr. Binderman will be compensated on an hourly basis and will work for the company on a part-time basis. Binderman is, and will continue as, the Managing Member and CEO of Binderman Group, a certified public accounting and business advisory consulting firm. He brings to Vystar more than 20 years of Big 4 and other national and regional CPA and consulting firm experience. In his previous positions with international accounting firms, Binderman provided merger and acquisition, as well as technical accounting and auditing services on highly complex accounting and audit issues for some of the large brand entities in the world, including Siemens, Lafarge Corporation, Marriott (Host and International), Manor Care, Citrix Systems, and Clorox Company.
Vystar Corp. Enters an Exclusive Agreement with Nature's Home Solutions for Distribution Rights of Eco-Friendly Vytex NRL Foam
Jan 22 15
Vystar Corp. has entered an exclusive agreement with Nature's Home Solutions for U.S. distribution rights of Vystar'sVytex Natural Rubber Latex (NRL) foam. NHS will have exclusive distribution rights to Vytex NRL foam for the U.S. furnishings, homegoods and other markets and non-exclusive distribution rights to Vytex NRL threads for the U.S. apparel industry. Vytex NRL is the only form of NRL where the proteins and non-rubbers have been physically removed from the raw material, maintaining the positive physical attributes and sustainable properties of NRL, with little to none of the allergy- and odor-causing proteins of other non-rubbers. Because Vytex NRL results in a more translucent and cleaner latex it eliminates the need for the dyes and perfumes used to cover up the yellow color and odor in non-Vytex NRL products. Vytex NRL is the only reduced-protein NRL that: originates from Rainforest Alliance Certified farms or forests; offers Forestry Stewardship Council (FSC) Chain-of-Custody certification that traces the path of products from forests through the supply chain, verifying that FSC-certified material is identified or kept separated from non-certified material throughout the chain; uses a foam manufacturer that is certified Carbon Neutral by TÃ V Rheinland from the seed to the port of shipment; and originates in the first natural rubber forest plantation in the world that has been issued carbon credits (GreenDevelopment).