Hate to burst your bubble but I will put the key words from the PR in CAPS
WORCESTER, Mass., Oct. 16, 2019 (GLOBE NEWSWIRE) -- Vystar Corp. (Vystar) (OTCQB Market: VYST) announced today that its Board of Directors has approved a PLAN to spin-off part of its RxAir air purification business as a separate, independent, publicly traded company. Vystar DESIRES to set record and ex-dividend dates shortly, complete the spin-off and commence trading of RxAir in the first part of 2020. This would be the first spin-off for Vystar; a holding company for Rotmans Furniture and Flooring, Fluid Energy Conversion, Nature’s Home Solutions, RxAir air purifiers and owner and creator of Vytex deproteinized natural rubber latex, and developer of environmentally friendly technologies and products.
Vystar EXPECTS that any plan will proceed as follows:
Create a publicly traded subsidiary called RxAir, Inc. encompassing the UV400 air purifier product and related intellectual property (IP), tooling, websites and other assets, which will focus on the growth opportunities in the growing residential, healthcare and commercial markets.
Contract with an outside entity which will control 51% interest in RxAir, Inc., with an investment of $3-$5 million in production, tooling, inventory, and operations needed to run RxAir.
Vystar plans to award 39.1% of the RxAir shares as a pro-rata dividend to Vystar shareholders as of the designated record date.
Retain 9.99% of RxAir shares for Vystar Corporation
Vystar will retain all other currently held assets.
Vystar is currently ENTERTAINING offers as part of its fiduciary responsibility to shareholders in obtaining the best deal related to RxAir. Vystar has been in serious negotiations with a qualified healthcare group in manufacturing, and marketing for business-to-business (B2B) and business-to-consumer (B2C) products.
