Vystar launches IPO

ERJ staff report (DS)

Duluth, Georgia - Vystar Corp. has begun the process of launching an initial Public Offering.

The company is offering about 4.8 million shares at a nominal price of $2 each, with the aim of raising up to $9.6 million.

The prospectus states, “Vystar Corp. is a development stage company with very limited revenues, and is the creator and exclusive owner of the innovative technology to produce Vytex Natural Rubber Latex.”

It goes on, “Vystar is introducing Vytex NRL, its new “low protein” natural rubber latex, throughout the worldwide marketplace that uses NRL or latex substitutes as a component of manufactured products. Vystar intends for Vytex NRL to become the standard source of latex and latex substitutes, not unlike a standard computer operating system on which many other applications can run.

In the first three months of 2008, the company had zero sales, but costs of $2.585 million.

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SEC filing and prospectus from Vystar