Vystar Corp (VYST)

[Tex18]

I’ve been trying to research about converting common shares to preferred shares to reduce OS and can’t seem to find any instances of it, other than convertible preferred shares (which convert to common). Also comes up as R/S even though that’s completely different than what this is.

Does anyone have a link to a source for this being valid and the “process” they go through to accomplish it?

Or even an example of a company who has successfully done this in the past.

TIA and GLTA