A significant amount apparently.
“ During the third quarter of 2019, the Company focused on the completion of the Rotmans acquisition and subsequent integration of the Company’s sales, marketing, warehousing, and accounting functions. New systems, controls, and procedures are being added as well as a host of additional staff and software. The Company has invested significantly in the completion of the merger and has committed a considerable amount of staff resources, most of which is a one-time cost. We believe the combined capabilities of our two organizations create an opportunity to amplify the authentic and special brands we have built and accelerate the pursuit of our vision to build the most innovative and inspirational home furnishings brand. Together, we will create a dramatic path toward long term growth and value for our brand, people, customers, and suppliers. We are thrilled to add this prestigious brand to Vystar’s platform, as it not only positions Vystar as an authority in one of the most important and profitable rooms of the home – the bedroom – but also creates a showcase for Vystar. There are very few opportunities to acquire a well-managed, growing company such as Rotmans, especially given Vystar’s previous size. This partnership represents a key opportunity to drive long-term growth and value creation for our shareholders.”
“ The Company’s operating expenses were $3,871,282 and $477,705 for the three months ended September 30, 2019 and 2018, respectively, an increase of $3,393,577 or 710.4%. The increase is mainly due to accounting and legal fees related to shareholder note conversions and the Rotmans transaction. Operating expenses included patents, latex consultants, accounting fees, and employee expenses.”
“ Net loss attributable to Vystar was $1,672,560 and $1,045,311 for the three months ended September 30, 2019 and 2018, respectively, an increase of $627,249. The larger net loss the Company experienced in the quarter ended September 30, 2019 versus the same period in 2018 was primarily attributable to accounting and legal fees related to shareholder note conversions and the Rotmans transaction.”
