ATLANTA, Oct. 8 Vystar Corporation today announced thatAtlanta financial and investment professionals, W. Dean Waters, ManagingPartner and Founder of Poseidon Capital Investments, LLC and Mitsy Y. Mangum,Vice President of Investments, Raymond James and Associates, have been namedto the Vystar Corporation Board of Directors.
"As we accelerate our sales process for Vytex(TM) NRL, our revolutionarylatex-safe natural rubber latex (NRL) product, we are experiencing growth thatrequires a broader base of expertise on our board," Vystar President and ChiefExecutive Officer William Doyle said. Noting that the Vystar board is alsoconsidering the potential for Vystar to become a publicly traded company, hesaid, "Dean, with 19 years of diversified business experience, and Mitsy, withmore than 22 years of financial service and industry experience, complementthe resources we have on our Board."
Waters embarked on his career with NationsBank; was one of the foundingmembers of the Capital Markets Group within GMAC Commercial Finance'sEquipment Finance Division; and in 2003, founded Poseidon Capital Investments,LLC a diversified investment advisory firm. Mangum is an accomplishedinvestment professional whose career has included vice presidential positionswith Smith Barney, Inc., Robinson-Humphrey Co. and Sterne Agee and Leach inaddition to Raymond James. In addition, she co-managed a boutique equitytrading firm for three years.
The board appointments come at a time when Alatech Healthcare Products,the largest state-of-the-art condom production facility in the U.S., isawaiting 510(k) clearance from the U.S. Food and Drug Administration (FDA) tomarket the first condoms made with Vytex(TM) NRL. Once approved, the condomswill be sold in the consumer market as well as to the institutional bidmarket, comprised of government healthcare purchasing agencies, such as theVeteran's Administration. Alatech is also processing the paperwork for 510(k)submission on an exam glove.
The Alatech condom trial is the first of more than 25 manufacturingevaluation trials of Vytex(TM) NRL to progress this far. Most recently,successful manufacturing trials of the first low-ammonia version of Vytex(TM)NRL have been completed.
At the same time, the company is marketing Vytex(TM) NRL globally to allindustries that use natural rubber latex or synthetic substitutes in theirproducts. This includes the healthcare industry (surgical and exam gloves,catheters, probe covers, etc.), condom manufacturers, the foam industry andmattress manufacturers, the threads industry and clothing manufacturers, theadhesives industry, the balloon industry and others.
Vystar is the exclusive creator of the proprietary technology to produceVytex(TM) NRL, a standardized NRL source material that is refined tosignificantly reduce the antigenic protein content to as low as undetectablelevels in liquid NRL and finished latex products. This is important becauselatex allergy has become an increasing concern for everyone from healthcareworkers to children to condom users. It is estimated that as many as 17percent of healthcare workers (because of prolonged and/or repeated contactwith latex) and 3 percent of the general population could have an allergicreaction to the protein in NRL. However, because of its superior properties --such as barrier protection, the absence of carcinogens, strength anddurability, fit and comfort, memory, elasticity, low cost, and minimalenvironmental impact -- latex is the ingredient of choice for a vast array ofeveryday products. In fact, Vytex(TM) NRL opens the door to widespread use ofNRL in some 40,000 products.
About Vystar Corporation: Vystar Corporation, incorporated in 2003, is aprivately funded corporation located in the Atlanta area. The company'soperations have been focused substantially on early-stage research,development, testing and commercialization of the Vytex(TM) NRL process.Vystar, named a 2007 Top 10 Innovative Technology Company in Georgia by theTechnology Association of Georgia (TAG), holds two U.S. patents for theVytex(TM) NRL technology, with two additional filings pending. For moreinformation and the most recent white papers about Vytex(TM) NRL, please visitwww.vytex.com .
Forward-looking Statements: Certain matters discussed in this pressrelease are "forward-looking statements." These forward-looking statements cangenerally be identified as such because the context of the statement willinclude words, such as Vystar Corporation "expects," "should," "believes,""anticipates" or words of similar import. Similarly, statements that describeVystar's future plans, objectives or goals are also forward-lookingstatements. Such forward-looking statements are subject to certain risks anduncertainties, including the financial performance of Vystar as appropriate,which could cause actual results to differ materially from those currentlyanticipated. Although Vystar believes the expectations reflected in anyforward-looking statements are based on reasonable assumptions, they cannotgive any assurance that their expectations will be attained. Shareholders,potential investors and other readers are urged to consider these factorscarefully in evaluating any forward-looking statements. Certain factors couldcause results and conditions to differ materially from those projected inthese forward-looking statements, and some of these factors are discussed.These factors are not exhaustive. New factors, risks and uncertainties mayemerge from time to time that may affect the forward-looking statements madeherein. These forward-looking statements are only made as of the date of thispress release and Vystar does not undertake any obligation to publicly updatesuch forward-looking statements to reflect subsequent events or circumstances.
SOURCE Vystar Corporation