Vystar Corp (VYST)

[12Retyr]

8K - https://www.sec.gov/ix?doc=/Archives/edgar/data/1308027/000149315223042885/form8-k.htm

On November 27, 2023, the Court issued its Memorandum and Opinion resolving all outstanding issues in the case. The remaining issues were (i) EMA’s motion for summary judgment on its breach of contract claim, seeking $4,226,187 in damages, and for dismissal of Vystar’s counterclaims and (ii) Vystar motion for summary judgment in favor of its counterclaims and for dismissal of EMA’s claim for breach of contract.



The Court dismissed EMA’s complaint for breach of contract thereby nullifying the claim for associated damages.



The Court also held that Vystar satisfied its contractual obligation to repay the note while EMA breached its own mechanisms for such conversions.



While the Court did not issue compensatory damages to Vystar, it invited Vystar to file an application for legal fees and expenses. Vystar will also consider its options as to decisions from the Court that may be subject to an appeal before the Second Circuit.