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Vystar Corp. Launches $1.2M Offering - cbl

By Bill Murphy

DULUTH, Ga. -- Vystar Corp. (OTC BB: VYST) has launched a $1.2 million offering, so far raising $400,000 from seven investors, according to an SEC filing. The offering consists of 10 percent convertible promissory notes with warrants to purchase 160,000 shares at $0.68 per share over the first two years.

Last week, citybizlist reported that Vystar secured a $3 million credit facility through Topping Lift Capital to fund expected growth this year.

Principals named in the filing are:

· Chairman and CEO William Doyle
· Sandra Parker, executive vice president, business development and marketing
· Matthew Clark, vice president, technical sales
· Jack Callicutt, CFO
· J. Douglas Craft, director, from Atlanta-based Medicraft
· Joseph Allegra, director
· W. Dean Waters, director, founder and managing director of Atlanta-based Five Fold Capital
· Michelle Mangum, director, from Raymond James

Based in Duluth, Ga., Vystar is the creator of Vytex Natural Rubber Latex, a multi-patented, all-natural, raw material that contains significantly reduced levels of antigenic proteins found in natural rubber latex and can be used in over 40,000 products.

Reg D filing: http://tinyurl.com/6ccz8co

Bios from Vystar site:

William R. Doyle
Chairman of the Board, President and Chief Executive Officer

William Doyle was originally part of the Vystar Team as Senior Vice President of Sales and Marketing. His role expanded in November 2005 as he became company President and a member of the Board of Directors. Mr. Doyle assumed the role of Chairman of the Board and CEO in April 2008 when Travis Honeycutt retired

Prior to joining Vystar, Mr. Doyle was Vice President of Marketing, Women's Health for Matria Healthcare, Inc. (now Alere) where he spearheaded the initial branding efforts and held responsibility for sales development, training, public relations, and marketing. He has worked in many aspects of healthcare for over twenty five years encompassing manufacturing, sales, marketing and advertising with such companies as Isolyser Company, Inc., McGaw, Inc., Lederle Laboratories (now Wyeth), and in an advertising capacity for Novartis Ophthalmics.

He has co-authored and presented numerous papers for Vystar globally since its inception including the Japan Rubber Association and an upcoming invitation to present at the Smithers-RAPRA Latex 2010 conference in Amsterdam and has served as section chair at latex conferences previously.

Mr. Doyle is a member of the Board of Directors of the Georgia Chapter of the March of Dimes where he is a past Chairman of the Prematurity Campaign. He holds a Bachelor of Science in Biochemistry from Penn State University and Master of Business Administration from Pepperdine University's Graziadio School of Business and Management.

Sandra Parker
Executive Vice President, Business Development and Marketing

Sandra Parker is a healthcare industry professional with over 25 years of progressive sales and marketing management experience. She has been an officer of Vystar Corporation since 2008 where she has responsibility for the development and execution of the corporation's sales and marketing strategies including brand development and positioning, identification of new customers and markets, creation of channel strategies and relationships and mid-long term strategic planning.

Her career has spanned the clinical, hospital, trade association, group purchasing, distribution and manufacturing sectors in Fortune ranked and market-leading companies including General Medical Corporation (now McKesson), Teleflex, Safeskin Corporation (now Kimberly-Clark) and Kimberly-Clark Corporation. She most recently served as senior manager for Kimberly-Clark Healthcare where she was the architect for their expansion into surgery center, physician, dental, EMS and other non-hospital markets. Prior to Kimberly-Clark, Ms. Parker held the position of marketing director for Isolyser Company Inc. (now Ecolab), where she spearheaded product development and brand development for a firm specializing in surgical and infection control solutions.

Ms. Parker is the recipient of many sales and marketing awards throughout her career including most recently President Club Sales and Outstanding Leadership honors at Kimberly-Clark. She has served on numerous industry committees overseeing the development of national plans addressing public health issues such as avian flu and emergency response. During her tenure as Vice President, the South Florida Hospital Association, Ms. Parker frequently spoke nationally on contemporary healthcare issues including reimbursement, medical credentialing and emergency management.

She currently serves in a national leadership role as Chair, Professional Women in Healthcare (PWH), a professional development organization for leading women in healthcare manufacturing and distribution. She is a graduate of Jackson Memorial School of Nursing, Miami, FL.

Matthew P. Clark
Vice President, Technical Sales

Matthew Clark has been an executive officer of Vystar since 2004 and has worked in natural rubber latex R&D since 2000. He is responsible for day-to-day Vystar operations as well as IP, trademark and product development. A co-patent holder on the process to reduce the allergenicity of natural rubber latex prior to vulcanization, Mr. Clark is a key company contact for latex industry leaders. He is co-author of five technical papers, "Technological and Physical Properties of a New, Low Antigenic Protein Natural Rubber Latex", "The Business Aspects of Vytex, an Ultra Low Protein Natural Rubber Latex", "VytexÔ Natural Rubber Latex: A Proposed Industry Standard for the Manufacture of Commercial Natural Rubber Products", "VytexÔ Natural Rubber Latex: An Innovative Source Material for Natural Rubber Products Prior to Vystar and "Vytex^TM: A Low Protein Natural Rubber Source for the Production of Reduced Protein Latex Products".

Mr. Clark is an active participating member in ASTM D.11 on Rubber. Also, he is a Toastmaster international member. Prior to his involvement in natural rubber latex, he had supervisory roles at Isolyser from 1995 to 2000 and Globe Ticket and Label Company thereafter. He is a graduate of Gwinnett Technical Institute.

Jack W. Callicutt
Chief Financial Officer

Jack W. Callicutt joined Vystar in April 2010 as Chief Financial Officer. Prior to that, Mr. Callicutt served as Chief Financial Officer of IVOX, Inc., an Atlanta, GA based technology enabled transportation risk management company, from April 2008 through September 2009. Mr. Callicutt served as Vice President and Chief Financial Officer of Tikvah Therapeutics, a privately held biotechnology company in Atlanta, GA, from August 2007 through March 2008. Prior to joining Tikvah, Mr. Callicutt was employed by Corautus Genetics, Inc., a publicly traded biotechnology company based in Atlanta, GA, from August 2003 through June 2007, most recently serving as Senior Vice President - Chief Financial Officer. During his career, Mr. Callicutt has completed several private placements and convertible debt offerings and has made numerous presentations at investor and industry conferences. Mr. Callicutt also negotiated and completed merger and acquisition transactions in addition to being responsible for all financial, risk management and administrative functions. Prior to joining Corautus, Mr. Callicutt spent 14 years with Deloitte, an international public accounting firm, the last six years as an audit senior manager primarily focusing on technology companies. Mr. Callicutt is a Certified Public Accountant and graduated, with honors, from Delta State University with degrees in Accounting and Computer Information Systems. Mr. Callicutt has served on several boards of non-profit organizations.

Directors

J. Douglas Craft, Director, has been the chief executive officer of the company he founded, Atlanta-based Medicraft Inc., one of the largest independent distributors for Medtronic Spinal Products worldwide since 1983. He has more than 25 years experience in the medical device arena and holds a biomedical engineering degree from Mississippi State University.

Mitsy Y. Mangum, Director, is Vice President of Investments, Raymond James and Associates and is an accomplished investment professional with over 22 years of financial service and industry experience both from the retail side as well as the institutional side. Ms. Mangum's career has included vice presidential positions with Smith Barney, Inc., Robinson-Humphrey Co. and Sterne Agee and Leach in addition to Raymond James. She has a Bachelor of Science in Business Administration / Management from College of Charleston. She has numerous professional designations, including NASD Series 7, 63, 65, 31, WMS; Georgia Department of Insurance: Life, Accident, Health and Sickness as well as Variable Annuity and Variable Life.

Dean Waters is the Founder and Managing Director of FiveFold Capital, a company focused on the capital needs of community banks. Mr. Waters has a diverse background and expertise in institutional investments, negotiations, domestic and international finance, due diligence, client relationship management and business development. He works on-site with each bank and draws upon his fifteen years of knowledge and experience in raising more than $5 billion in capital for middle-market to Fortune 1000 companies; and Community, Regional and Global Financial Institutions.

Prior to founding Five Fold Capital, Mr. Waters was Senior Vice President of Commerce Street Capital's bank development group and was responsible for helping community bank management teams raise capital for initial and secondary offerings. Prior to Commerce Street, Mr. Waters was Managing Partner, Poseidon Capital Investments, LLC, an investment advisory firm. He was also Senior Vice President, Director and one of the founding members of the Capital Markets Group within GMAC Commercial Finance's Equipment Finance Division. Before that, he was Managing Director of Equity Distributions of Bank of America Leasing & Capital Group.

Mr. Waters received a B.S. in Economics from East Carolina University in Greenville, N.C., and earned an M.B.A., with honors, from Wake Forest University's Babcock Graduate School of Management in Winston-Salem, N.C. He also represented Wake Forest in the European Business Studies program at St. Peters College of Oxford University and served eight years on the Babcock Graduate School of Management's Alumni Council. He currently serves as Secretary on the Board of Berkeley Hills Country Club in Duluth, Ga. as well as on the Board of Vystar Corporation, chairing the Audit Committee and serving on the Compensation Committee. Mr. Waters holds multiple securities licenses.

Also at citybizlist, see:

Vystar Corporation Secures a $3M Credit Facility to Fund Growth

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