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Worcester, MA-based Vystar Corp (OTCMKTS:VYST), a company specializing in fabricated rubber products, has officially transferred its ownership interest in Rotmans Furniture to an undisclosed third party, as reported in a recent SEC filing. The transaction, which took place on December 31, 2024, was for a nominal value.
The divestiture will lead to a reduction in Vystar’s assets by approximately $6,000 and a decrease in liabilities of about $4,742,000 for the fiscal year ended December 31, 2024. According to the filing, further adjustments to the financial statements may occur as a result of this transaction.
This move comes after the company disclosed that Murida, doing business as Rotmans Furniture, had initiated a liquidation sale on October 11, 2022. The sale was completed in the following year, marking the end of Vystar’s involvement with the furniture retailer.
Vystar Corp, incorporated in Georgia, has its principal executive offices located at 365 Shrewsbury St, Worcester, MA, and is led by President and Chief Executive Officer Jamie Rotman. The company’s common stock is traded under the symbol VYST, although it is not listed on any stock exchange.
The information provided in this article is based on a press release statement filed with the SEC. The details of the transaction, including the identity of the third party and the specific reasons for the divestiture, have not been disclosed. This strategic decision will be reflected in the company’s upcoming financial statements, providing a clearer picture of its post-divestiture financial position.
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