Vystar Corp. (OTCQB: VYST) is the majority owner of Rotmans Furniture and Carpet and environmentally friendly technologies and products to improve lives, such as RxAir UV light air purification products, Fluid Energy Solutions and Vytex Natural Rubber Latex.
The company announced 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.
Spin-off process:
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.
The company will retain 9.99% of RxAir shares for Vystar Corporation.
Vystar anticipates the new entity will have a market capitalization of $10 million based on capital, assets and market track record and further anticipates announcing the ex -dividend date in the next few weeks, where the ex-dividend date would be set 60 days following the announcement.
Vystar is the exclusive creator of Vytex, a multi-patented, all-natural, raw material that contains significantly reduced levels of the proteins found in natural rubber latex and can be used in over 40,000 products. Vytex NRL is a 100% renewable resource, environmentally safe, “green” and fully biodegradable. Vystar is working with manufacturers across a broad range of consumer and medical products bringing Vytex NRL to market in adhesives, gloves, balloons, condoms, other medical devices and natural rubber latex foam mattresses, toppers, and pillows.
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Titan Medical Inc. (NASDAQ: TMDI) is a Canadian public company, headquartered in Toronto, Ontario, that also trades on the Toronto Stock Exchange (TMD). Titan is developing the SPORT™ (Single Port Orifice Robotic Technology) Surgical System for use in minimally invasive surgery (“MIS”) that is expected to be commercially available in 2019. Titan’s robotic surgical system is being designed to expand robotic surgery into areas that are currently under serviced. This will allow surgeons to perform procedures within small to medium size surgical spaces such as general surgery and cholecystectomy. Currently, the most common medical procedures for which robotic systems are used are hysterectomies and prostatectomies. Titan plans to expand the scope and obtain approval for various surgical procedures.
The company just announced today that it has filed and been receipted for an amended and restated preliminary short form prospectus with securities regulators in the provinces of Ontario, British Columbia and Alberta. Titan has also filed a corresponding registration statement on Form F-10 with the United States Securities and Exchange Commission under the U.S.-Canada Multijurisdictional Disclosure System. Each of these filings is in connection with a proposed marketed offering of units of the Company for total gross proceeds of a minimum of US$15,000,000 and a maximum of US$25,000,000.
It is expected that closing of the Offering will occur on or about October 24, 2019.
The Company is withdrawing all forecasts with respect to the cost and timing of the development of its robotic surgical system beyond the fourth quarter of 2019 because its lack of financing has caused its primary product development supplier to limit the development work on the Company’s robotic surgical system. This supplier has also terminated the employment or engagement of a significant number of the employees and contractors who had been working with the supplier on the development of the Company’s robotic surgical system.
Additionally, the Company’s relationship with another service provider has deteriorated as the service provider, on the one hand, has noted concerns about the Company’s inability to fully pay invoices while the Company, on the other hand, has expressed dissatisfaction with the quality of the work performed by the service provider.
The company has indicated that the proceeds from the offering will be used to rehire employees and resume product development.
The industrial hemp marketplace is expected to top $23 Billion by 2023. Limitless Venture Group, Inc. (OTC PINK: LVGI), has refocused its efforts toward industrial hemp related operations including cultivation, processing, product development, market distribution, and research. Their focus is on farming, testing, building supplies, plastics, fuels, and other research identified opportunities.
Through its wholly-owned subsidiary, Summit Harbor Holdings, Inc. (SHHI), the company just announced that it has signed a Joint Venture agreement with HayMap.com to create Green Prizm Technologies, LLC., which will utilize the fundamental code of HayMap to create HempLink.app, a new app that will revolutionize the industrial hemp marketplace.
The massive potential in the hemp market has farmers and other hemp entrepreneurs jumping into this fragmented and sometimes predatory market due to novice brokers that are trying to get rich quick and do not care about product quality, and have no incentive to resolve issues when they occur. With HempLink.app, farmers, processors and hemp/CBD manufacturers will be able to trade and transact products and services in a trusted, secure and transparent online market. HempLink.app will verify all participants in the market as well as provide a peer to peer review system to provide participants in the transaction with the assurance they are receiving the quality products and services they expect.
Simlatus Corporation (OTC PINK: SIML) announced recently that certifications and manufacturing processes are initiated to commence the manufacturing and delivery pursuant the purchase orders for the CBD Extraction Systems. The company’s subsidiary, Proscere Bioscience Inc., received purchase orders for delivery of 14 CBD Extraction Systems in value of $24M.
In September, the company said it was finalizing the delivery of 14 CBD Extraction Systems in value of $24M. Further negotiations are taking place with various groups for additional systems. These are very expensive systems that require a large space to accommodate all of the features inclusive of the Cold-Water CBD Extraction equipment combined with the Alcohol CBD Extraction systems. Certification for C1D1, and State regulations are a part of the process prior to acceptance of any deposits and cash from the clients.
In conjunction with the September announcement, the company reported that between March and August of this year it has prepaid 5 notes for a total principal, interest and penalties of over $2M.
The company operates multiple revenue streams in the CBD Industry, Major Broadcast Industry and Internet Provider Industry. Proscere Bioscience manufactures the first commercial industry standard cold-water CBD extraction system for medical grade cannabis utilization, along with their aeroponic commercial grade technology control containers for government food-safety programs, commercial and medical grade CBD. Satel Group is the premier high-rise DirecTV providers in the San Francisco metropolitan area, and is now expanding both DirecTV and Internet services across the SF Bay Area. Simlatus manufactures its own proprietary systems for the major broadcast studios, such as Warner Bros., Fox News, CBS and DirecTV. Its video technology is the major system used for underwater oil exploration in the world.
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