Vystar Corp (VYST)

[theDolphin]

Revenues

"Revenues for the three months ended June 30, 2021 and 2020 were $6,216,004 and $2,388,906, respectively, for an increase of $3,827,098 or 160%. The increase in revenues was due to the high impact closing to remodel sale at Rotmans and an increase in sales of the RxAir units. The Rotmans showroom was closed the first two weeks in June 2021 to remodel. Last year’s revenues were impacted by the COVID-19 pandemic and the showroom closing on March 24, 2020. The store processed limited customer deliveries for prior orders and internet sales during the closing through re-opening on June 10, 2020.


The Company reported a significant increase in gross profit to $3,648,929 for the three-month period ended June 30, 2021 compared to gross profit of $1,398,502 for the three-month period ended June 30, 2020, an increase of $2,250,427 or 161%. The increase in gross profit was primarily due to a change in purchasing which started when the store reopened in June 2020 and the reduction of special offers. Merchandise is being purchased in large quantities from fewer vendors. This quarter results also include the margins of RxAir units.

The cost of revenue for the three months ended June 30, 2021 and 2020 was $2,567,075 and $990,404, respectively, an increase of 159%."

Punchline: revenue is way up, but so are operating expenses.

$VYST