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Posted On: 06/19/2020 12:30:11 PM
Post# of 1215
Press release
Vystar Corporation (VYST) Buyout Rumor with Tongdy Control Technology Ltd.
06-19-2020 11:45 AM CET | Business, Economy, Finances, Banking & Insurance
Press release from: Penny On The Wall / PR Agency: Penny On The Wall
According to undisclosed sources Tongdy Control Technology Ltd. has engaged with Vystar Corporation (VYST) to purchase the RxAir UV light air purification products to gather the foothold in China due to the pandemic constantly evolving around Covid-19. The exact dollar amount is yet to be disclosed but RxAir is an air purification system used in hospitals, waiting rooms and classrooms. In fact, it’s used in 400 hospitals as an FDA approved class 2 medical device. RxAir has demonstrated to be effective to disinfect air and inactivate a number of pathogens including MERS and SARS using patented UV light air purification technologies.
The valuation at the time was an anticipated market capitalization of $10 million based on capital, assets and market track record. Of course that was pre Covid-19 and to say the valuation could go hyperbolic is an understatement If indeed UV light can inactivate the virus.
Vystar Corporation (VYST) Buyout Rumor with Tongdy Control Technology Ltd.
06-19-2020 11:45 AM CET | Business, Economy, Finances, Banking & Insurance
Press release from: Penny On The Wall / PR Agency: Penny On The Wall
According to undisclosed sources Tongdy Control Technology Ltd. has engaged with Vystar Corporation (VYST) to purchase the RxAir UV light air purification products to gather the foothold in China due to the pandemic constantly evolving around Covid-19. The exact dollar amount is yet to be disclosed but RxAir is an air purification system used in hospitals, waiting rooms and classrooms. In fact, it’s used in 400 hospitals as an FDA approved class 2 medical device. RxAir has demonstrated to be effective to disinfect air and inactivate a number of pathogens including MERS and SARS using patented UV light air purification technologies.
The valuation at the time was an anticipated market capitalization of $10 million based on capital, assets and market track record. Of course that was pre Covid-19 and to say the valuation could go hyperbolic is an understatement If indeed UV light can inactivate the virus.
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My comments are only my opinion and are not to be used for investment advice.
Please conduct your own due diligence before choosing to buy or sell any stock.
