Vystar pays off $1.1 million of long-term debt

WORCESTER, Mass. — Vystar Corp., the exclusive creator of Vytex Natural Rubber Latex and products made with Vytex, has paid off all of its long-term convertible shareholder debt totaling $1,135,000 for $795,000 of restricted Vystar common stock, representing a savings of 30% for Vystar and its shareholders. Approximately 85% of the convertible notes were held by Vystar insiders and major shareholders, who will now hold the restricted shares. “This is a major step in our strategic plan that includes eliminating all debt,” said Steve Rotman, CEO of Vystar. “It is important to have a strong and clean balance sheet in order to maximize shareholder value as we execute other portions of our strategic plan that includes acquisitions, development of new Vytex formulations, development and the launch of new product lines.” Vytex is currently used in mattresses and mattress components, as well as adhesives, apparel padding and threads, shoes, sports equipment and electrical gloves.