I spoke with Greg Rotman yesterday at 3:06 CST. I tried calling several times to his direct line prior to him calling me back. We spoke for roughly 45 minutes. The following is a summation of what we talked about…in actuality, he did majority of the talking.
Greg Rotman was very genuine, honest, funny, and has tons of stories regarding his family and business in general.
He was very busy today with inventory with Wayfair. He noted that Amazon has been very good for them. Currently they are working on Google express and three others (House was one of them).
They utilize NetSuite which they can track and inventory multiple sites in real time.
Fluid water conversion:
Won the award in 2018 for DaVita water purification. This year DaVita installed it on the dialysis chairs. DaVita does 100,000 gallons of water per day and losing 2-3 gallons through purification, Fluid Water Conversion was able to decrease that to 1 gallon and it is much cleaner. They are up for another award this year and very excited about it.
The latex gloves are well received by the medical community. The gloves themselves are 50% thinner, 50% stronger, and powder free compared to regular latex gloves. The gloves are also diamond etched for better feel, surgeons really love it. The gloves when they are in the box do not stick together, therefore less waste.
Since taking over Vystar in January 2019, investors increased their investments to now totaling 29 Million.
Greg states that they got picked up a fairly inexpensive asset for what it was. They picked up RxAir for $600K. RxAir spent 9 Million for the FDA clearances prior to the acquisition.
Greg loves and is a big fan of intellectual property (patents). They have 18 countries patented with Vytex. The air purifier and fluid energy adds another 20 patents. The patents themselves is a portfolio.
Vystar is working with Schwab and another brokerage firm regarding the buyback. Initially, the company approves a plan to present to the brokerage firms. Right now it is going through compliance. Once compliance is complete they will give it to the brokerage firms to execute the plan. The brokerage firms will begin the buyback in compliance to the parameters that was approved by the company. Overall, they want to buyback 50% of the stock.
Debts have been 90% paid. Two remaining notes 1)$100,000 and 2)$50,000. The $100,000 notes will be paid off because the pre-payment penalty is very low. The $50,000 has a 50% pre-payment penalty. They do not know what to do with that one yet until time of conversion in late February, whether it is better to buy that back on the market or better to just pay it off. Either way, due to the 50% pre-payment penalty, they are going to spend $75,000…honestly, they are trying to calculate up which one will give them the bigger bang for the buck. One way or another it will happen. Greg states that his dad does not like notes (toxic funding). They want them gone!
Vystar will be reporting 100% of Rotmans revenues. Merger is targeted to be complete during the second week of February. The recent Q report in the subsequent events, Vytex has already been voting in and approved.
Regarding Nasday listing…Greg says that ideally, that is where they want to be. That decision will be made when VYST reaches .50
A split will put them at $5.00/share. Greg explains that although $4.00 is minimum, the $5.00 gives them a little bit of leeway. He states that the Nasdaq listing will take place following a K report in July. He says that it is better to use a a K report rather than a Q report when uplisting. Following the K, the company can prepare for the uplist and realistically, September 2019 would be the time. Greg states that it is worth the reverse split when uplisting to the Nasdaq otherwise a reverse split will not occur.
I am NOT a financial advisor and anything I post should be considered only my opinion at that time. Never buy or sell based on anything I post - MY POSTS ARE ALWAYS JUST MY OPINION, regardless whether I include that in my post or not.
