公司今天发布消息，自从2020年7月以来，已经付清了超过2百万美元的债务。这对一个在OTC交易的小公司来说，特别是在疫情严重的情况下，非常不容易。而且，公司正在扩大和升级UV消毒机的生产能力，前景看好。
个人观点，仅供参考。
Worcester, MA, Oct. 09, 2020 (GLOBE NEWSWIRE) -- Vystar(VYST)® Corporation paid off more than $2 million in debt since July 1, 2020, including paying off multiple notes and lines of credit in September 2020, and consolidating other debt as it enters the peak retail holiday shopping season and the fourth quarter with its RxAir® UV-C Light air purifier line and Rotmans’ home furnishings poised to fill urgent needs amid the COVID-19 pandemic. The debts were satisfied as follows (full details in 8K SEC filing):
Libertas Funding LLC -- On February 24, 2020, Vystar(VYST) and Rotmans had entered into an agreement with Libertas Funding LLC to sell future receipts totaling $1,089,000 for a purchase price of $825,000. The Libertas funding has been paid off with no further obligation.
New Debt Obligation - The Company entered into a $630,000 promissory note for a loan made by the Vystar(VYST) President and CEO Steven Rotman, at 5% note payable at maturity. Funds for a portion of the loan were derived from the sale of Vystar(VYST) common stock owned by Steven Rotman in September 2020 (see Form 4 filings at www.SEC.gov).
Payoff of $500,000 Vytex Product Inventory Loan– In 2018, five investors loaned $100,000 each with proceeds from their Fidelity Bank loan. The Company paid all principal and interest in full by the issuance of 8,250,000 restricted shares of common stock to each of the five investors.
“Vystar is in a solid business position and is entering a growth phase,” noted Mr. Rotman. “We were fortunate to have had $1.4 million in government Paycheck Protection Program (PPP) funding to help us through the shutdown and emerge running strong on all fronts. Rotmans Furniture’s reopening from the COVID shut-down, coupled with pre-sales of RxAir 400 units and personal loans from me to Vystar(VYST) allowed us to pay down debt; make deposits for RxAir tooling and parts; restart production of RxAir units, begin developing upgrades for RxAir 400 and Rx3000 units; and have operating capital to facilitate growth.”
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Hashtags:, #vystar, #vytex, #Rotmans, #RxAir, #COVID, #naturallatex, #nrl
