v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash $ 70,023 $ 151,175
Accounts receivable, net 49,221 68,541
Other receivables 684,775 875,362
Inventories 3,399,424 3,784,420
Prepaid expenses and other 249,714 337,013
Deferred commission costs 56,967 73,625
Total current assets 4,510,124 5,290,136
Property and equipment, net 703,563 832,099
Operating lease right-of-use assets 7,353,321 7,776,978
Finance lease right-of-use assets, net 471,602 551,037
Other assets:    
Intangible assets, net 1,036,246 1,208,870
Goodwill 460,301 460,301
Inventories, long-term 466,628 657,177
Deferred commission costs, net of current portion 36,059 60,586
Other 5,274 20,274
Total other assets 2,004,508 2,407,208
Total assets 15,043,118 16,857,458
Current liabilities:    
Accounts payable 5,076,055 5,149,570
Accrued expenses 764,973 897,420
Stock subscription payable 2,610,589 1,247,549
Operating lease liabilities - current maturities 570,000 634,000
Finance lease liabilities - current maturities 117,000 134,000
Shareholder, convertible and contingently convertible notes payable and accrued interest - current maturities 328,233 1,388,904
Related party debt - current maturities 2,694,000 1,487,000
Unearned revenue 796,156 880,204
Derivative liabilities 258,100 1,778,100
Related party advances 69,820
Total current liabilities 13,284,926 13,596,747
Long-term liabilities:    
Operating lease liabilities, net of current maturities 5,392,920 5,683,736
Finance lease liabilities, net of current maturities 384,558 443,882
Unearned revenue, net of current maturities 144,234 241,991
Related party debt, net of current maturities and debt discount 2,254,768 2,791,401
Total long-term liabilities 8,176,480 9,161,010
Total liabilities 21,461,406 22,757,757
Stockholders’ deficit:    
Convertible preferred stock, $0.0001 par value 15,000,000 shares authorized; 8,698 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively (liquidation preference of $78,880 and $74,531 at June 30, 2022 and December 31, 2021, respectively) 1 1
Common stock, $0.0001 par value, 1,500,000,000 shares authorized; 1,294,155,560 and 1,294,175,560 shares issued at June 30, 2022 and December 31, 2021, respectively and 1,294,125,560 and 1,294,145,560 shares outstanding at June 30, 2022 and December 31, 2021, respectively 129,415 129,415
Additional paid-in capital 43,730,771 43,723,389
Accumulated deficit (51,518,191) (51,410,516)
Common stock in treasury, at cost; 30,000 shares at June 30, 2022 and December 31, 2021 (30) (30)
Total Vystar stockholders’ deficit (7,658,034) (7,557,741)
Noncontrolling interest 1,239,746 1,657,442
Total stockholders’ deficit (6,418,288) (5,900,299)
Total liabilities and stockholders’ deficit $ 15,043,118 $ 16,857,458