Filed Pursuant to

Rule 424(b)(3)

Registration No. 333-155341

PROSPECTUS SUPPLEMENT NO. 4

(To Prospectus Dated August 7, 2009,
as Supplemented November 6, 2009)

Common Stock

This prospectus supplement no. 4 supplements the prospectus dated August 7, 2009 (as supplemented November 6, 2009), relating to the sale of up to 4,803,338 shares of common stock of Vystar Corporation that may be sold from time to time by the selling shareholders as described in the prospectus. You should read this prospectus supplement in conjunction with the prospectus.

Plan of Distribution

The Company has determined to maintain the effectiveness of the registration statement of which this prospectus is a part until August 7, 2011, or such later date as determined by the Company.

Quarterly Report on Form 10-Q

On August 16, 2010, we filed a Quarterly Report on Form 10-Q. A copy of such Report is also being provided to you along with this Supplement.

You should carefully consider matters discussed under the caption “Risk Factors” beginning on page 4 of the prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.

The date of this prospectus supplement is August 23, 2010.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2010

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from

Commission File Number 000-53754

VYSTAR CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Georgia	20-2027731
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

3235 Satellite Blvd.

Building 400, Suite 290

Duluth, GA 30096

(Address of Principal Executive Offices, Zip Code)

(770) 965-0383

(Registrant's telephone number including area code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    YES   x   NO   ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    YES  ¨     NO  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer  ¨	Accelerated filer  ¨	Non-accelerated filer  ¨	Smaller reporting company  x
		(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)    YES  ¨    NO  x

As of August 12, 2010, there were 15,087,624 shares of the Registrant’s common stock, par value $0.0001 per share, outstanding.

Vystar Corporation

Form 10-Q for the Quarter Ended June 30, 2010

Index

Part I.  Financial Information
Item 1.	Financial Statements	3
	Balance Sheets at June 30, 2010 (unaudited) and December 31, 2009	3
	Statements of Operations for the Three and Six Months Ended June 30, 2010 and 2009 (unaudited)	4
	Statements of Cash Flows for the Six Months Ended June 30, 2010 and 2009 (unaudited)	5
	Notes to Financial Statements (unaudited)	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	20
Item 4.	Controls and Procedures	20
Part II.  Other Information
Item 1.	Legal Proceedings	21
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	21
Item 3.	Defaults Upon Senior Securities	22
Item 5.	Other Information	22
Item 6.	Exhibits	22

2

Part I.       FINANCIAL INFORMATION

ITEM 1.    Financial Statements

VYSTAR CORPORATION

BALANCE SHEETS

	June 30, 2010			December 31, 2009
	(unaudited)
ASSETS
CURRENT ASSETS
Cash	$	812,362		$	780,147
Accounts receivable		151,423			25,678
Inventory		333,507			140,827
Deposits		3,066			11,786
Prepaid expenses		81,906			97,483
Note receivable due from related party		-			137,949
Other		16,124			19,649
TOTAL CURRENT ASSETS		1,398,388			1,213,519
PROPERTY AND EQUIPMENT, NET		4,332			8,104
OTHER ASSETS
Patents and trademarks, net		120,409			115,975
Other		4,421			5,887
TOTAL ASSETS	$	1,527,550		$	1,343,485
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$	223,886		$	128,888
Accrued expenses		381,189			127,922
TOTAL CURRENT LIABILITIES		605,075			256,810
LONG-TERM LIABILITIES		20,312			47,399
TOTAL LIABILITIES		625,387			304,209
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par value, 15,000,000 shares authorized; none issued and outstanding		-			-
Common stock, $0.0001 par value, 50,000,000 shares authorized; 14,956,024 and 13,042,774 shares issued and outstanding at June 30, 2010 and December 31, 2009, respectively		1,496			1,304
Additional paid-in capital		13,649,983			11,994,522
Deferred compensation		(264,363	)		(84,428	)
Accumulated deficit		(12,484,953	)		(10,872,122	)
TOTAL STOCKHOLDERS' EQUITY		902,163			1,039,276
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	1,527,550		$	1,343,485

The accompanying notes are an integral part of these financial statements.

3

VYSTAR CORPORATION

STATEMENTS OF OPERATIONS

(unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2010			2009			2010			2009
REVENUES	$	353,302		$	-		$	436,711		$	2,530
COST OF REVENUES		482,462			-			554,687			-
Gross Margin		(129,160	)		-			(117,976	)		2,530
OPERATING EXPENSES
Sales and marketing		196,606			172,640			385,085			314,483
General and administrative		614,741			343,577			1,081,329			668,650
Research and development		12,591			45,956			29,528			128,093
Total Operating Expenses		823,938			562,173			1,495,942			1,111,226
LOSS FROM OPERATIONS		(953,098	)		(562,173	)		(1,613,918	)		(1,108,696	)
OTHER INCOME (EXPENSE)
Interest income		863			2,613			2,046			10,236
Interest expense		(331	)		(701	)		(959	)		(720	)
Other income											30,000
NET LOSS	$	(952,566	)	$	(560,261	)	$	(1,612,831	)	$	(1,069,180	)
Basic and Diluted Loss per Share	$	(0.07	)	$	(0.05	)	$	(0.12	)	$	(0.09	)
Basic and Diluted Weighted Average Number of Common Shares Outstanding		14,342,238			12,376,829			13,861,871			12,165,791

The accompanying notes are an integral part of these financial statements.

4

VYSTAR CORPORATION

STATEMENTS OF CASH FLOWS

(unaudited)

	Six Months Ended June 30,
	2010			2009
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(1,612,831	)	$	(1,069,180	)
Adjustment to reconcile net loss to net cash
used in operating activities
Stock-based compensation expense		166,076			59,401
Stock and warrants issued for services		51,327
Recovery on related party note receivable					(30,000	)
Amortization of deferred compensation		298,565			99,245
Depreciation		3,772			3,433
Amortization		4,160			1,492
(Increase) decrease in assets
Accounts receivable		(125,745	)		-
Inventory		(192,680	)		(52,592	)
Prepaid expenses		15,577			18,051
Other		13,711			(30,851	)
Increase (decrease) in liabilities
Accounts payable		94,998			30,756
Accrued expenses		253,267			2,119
Other		(27,087	)		(2,317	)
Net cash used in operating activities		(1,056,890	)		(970,443	)
CASH FLOWS FROM INVESTING ACTIVITIES
Redemption of investment					750,000
Proceeds on related party note receivable		137,949			30,000
Cost of patents		(8,594	)		(6,677	)
Net cash provided by investing activities		129,355			773,323
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock		959,750			585,200
Net cash provided by financing activities		959,750			585,200
NET INCREASE IN CASH		32,215			388,080
CASH - BEGINNING OF PERIOD		780,147			956,655
CASH - END OF PERIOD	$	812,362		$	1,344,735
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	$	959		$	720

The accompanying notes are an integral part of these financial statements.

5

VYSTAR CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (unaudited)

NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

History and Nature of Business

Vystar Corporation (“Vystar”, the “Company”, “we”, “us”, or “our”) is the creator and exclusive owner of the innovative technology to produce Vytex® Natural Rubber Latex ("NRL"). This technology reduces antigenic protein in natural rubber latex products to virtually undetectable levels in both liquid NRL and finished latex products.  Vystar intends to introduce Vytex NRL, its new “ultra low protein” natural rubber latex, throughout the worldwide marketplace that uses NRL or latex substitutes as a component of manufactured products.  Natural rubber latex or latex substitutes are used in an extensive range of products including balloons, textiles, footwear and clothing (threads), adhesives, foams, furniture, carpet, paints, coatings, protective equipment, sporting equipment, and, especially health care products such as condoms, surgical and exam gloves. The Company produces Vytex through toll manufacturing and licensing agreements and has started introducing Vytex NRL into the supply channels with targeted marketing campaigns directed to the end users.  During 2008, the Company signed an agreement with Revertex (Malaysia) for the production of Vytex NRL.  Revertex is a non-exclusive, toll manufacturer for Vystar.  In March 2010, the Company signed a licensing agreement for the production of Vytex NRL with GrupoAgroindustrialOccidente's "Pica de Hule Natural," located in Guatemala.

Vystar LLC, the predecessor to the Company, was formed February 2, 2000, as a Georgia limited liability company. The Company’s operations under the LLC entity were focused substantially on the research, development and testing of the Vytex NRL process, as well as attaining intellectual property rights. In 2003, the Company reorganized as Vystar Corporation, a Georgia corporation, at which time all assets and liabilities of the limited liability company became assets and liabilities of Vystar Corporation, including all intellectual property rights, patents and trademarks.

Basis of Presentation

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles of the United States of America (“GAAP”) for interim financial information.  Accordingly, certain information and footnotes required by GAAP for complete financial statements may be condensed or omitted.  These interim financial statements should be read in conjunction with our audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2009, filed with the Securities and Exchange Commission ("SEC").  In the opinion of Vystar management, these financial statements contain all adjustments (which comprise only normal and recurring accruals) necessary to present fairly the financial position and results of operations as of and for the six month periods ended June 30, 2010 and 2009.  The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures.  Although these estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future, actual results could differ from these estimates.

Concentration of Credit Risk

Certain financial instruments potentially subject the Company to concentrations of credit risk. These financial instruments consist primarily of cash and accounts receivable.  Cash held in operating accounts in many cases exceeds the Federal Deposit Insurance Corporation, or FDIC, insurance limits.  While we monitor cash balances in our operating accounts on a regular basis and adjust the balances as appropriate, these balances could be impacted if the underlying financial institutions fail.  To date, we have experienced no loss or lack of access to our cash; however, we can provide no assurances that access to our cash will not be impacted by adverse conditions in the financial markets.

6

VYSTAR CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (unaudited)

Inventory

Inventory is stated at the lower of cost or market and cost is determined using the first-in, first-out (FIFO) method. The valuation of inventory requires the Company to estimate net realizable value. Inventory is written down for estimated obsolescence to the lesser of cost or market value.

Loss Per Share

Because the Company reported a net loss for the six month periods ended June 30, 2010 and 2009, common stock equivalents, including stock options and warrants, were anti-dilutive; therefore, the amounts reported for basic and dilutive loss per share were the same.  Excluded from the computation of diluted loss per share were options to purchase 3,695,000 shares and 3,360,000 shares of common stock for the six months ended June 30, 2010 and 2009, respectively, as their effect would be anti-dilutive.  Warrants to purchase 2,187,059 shares and 2,548,318 shares of common stock for the six months ended June 30, 2010 and 2009, respectively, were also excluded from the computation of diluted loss per share as their effect would be anti-dilutive.

Revenue

The Company recognizes revenue when the following four criteria are met: (1) persuasive evidence of an arrangement exists; (2) shipment or delivery has occurred; (3) the price is fixed or determinable and (4) collectability is reasonably assured.    Revenue is recognized at the time product is shipped and title passes to the customer.

Fair Value of Financial Instruments

The carrying value of cash, accounts receivable, accounts payable and certain other financial instruments (such as accrued expenses and other current liabilities) included in the accompanying balance sheets approximates their fair value principally due to the short-term maturity of these instruments. 

Subsequent Events

The Company evaluated subsequent events through August 12, 2010 when these financial statements were issued.  We are not aware of any significant events that occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on our financial statements.

NOTE 2 – LIQUIDITY AND MANAGEMENT’S PLANS

The Company's financial statements are prepared using the accrual method of accounting in accordance with accounting principles generally accepted in the United States of America and have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities in the normal course of business.  The Company has incurred significant losses and experienced negative cash flow since its inception.  Further, at June 30, 2010, the accumulated deficit amounted to approximately $12,485,000.

Vystar was in the development stage for most of 2009, transitioning to the operational stage in the final quarter of 2009.  At June 30, 2010, the Company had cash of approximately $812,000.  Management plans to finance future operations through the use of cash on hand, increased revenues and raising additional capital through a private placement or other equity or debt offering and stock warrant exercises from existing shareholders.  As the Company’s product continues to gain market acceptance, the Company expects sales in 2010 to continually increase. The Company also has been engaged in raising additional capital through a private placement and stock warrant exercises from existing shareholders.  Year-to-date through August 12, 2010, the Company has raised additional capital of $560,000 and $431,000 through the private placement and stock warrant exercises, respectively.   The Company is in discussions with several investment banks and advisors and plans to raise at least an additional $2,000,000 from a private placement or other instrument during 2010.  If no additional funding is completed, we estimate that we will have sufficient cash to operate through the end of 2010.  In view of these matters, the Company’s ability to continue as a going concern is dependent upon our ability to secure additional financing necessary until the Company is able to generate adequate funds from operations.  Since inception, the Company has financed its activities principally from the sale of equity securities. While the Company has been successful in the past in obtaining the necessary capital to support its operations, there is no assurance that the Company will be able to raise additional equity capital or other financing under commercially reasonable terms and conditions, or at all. Furthermore, if the Company issues equity or debt securities to raise additional funds, existing shareholders may experience dilution and the new equity or debt securities it issues may have rights, preferences and privileges senior to those of existing shareholders. In addition, if the Company raises additional funds through collaboration, licensing or other similar arrangements, it may be necessary to relinquish valuable rights to products or proprietary technologies, or grant licenses on terms that are not favorable. If the Company does not achieve its revenue projections or cannot raise funds on acceptable terms, the Company will not be able to continue as a going concern and execute the Company’s business plan, take advantage of future opportunities, or respond to competitive pressure or unanticipated customer requirements. Any of these events would adversely affect the Company’s ability to achieve the Company’s sales goals, which could have a material adverse effect on the Company’s business, results of operations and financial condition. The Company’s financial statements do not include any adjustments relating to the recoverability or classification of assets or the amounts of liabilities that might result from the outcome of these uncertainties.

7

VYSTAR CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (unaudited)

NOTE 3 – PROPERTY AND EQUIPMENT

Property and equipment consists of the following at June 30, 2010 and December 31, 2009:

	June 30, 2010			December 31, 2009
Furniture and fixtures	$	15,347		$	15,347
Equipment		23,431			23,431
		38,778			38,778
Accumulated depreciation		(34,446	)		(30,674	)
	$	4,332		$	8,104

Depreciation expense for each of the three months ended June 30, 2010 and 2009 was $1,886 and for the six months ended June 30, 2010 and 2009 was $3,772 and $3,433, respectively.

NOTE 4 – PATENTS AND TRADEMARKS

Patents represent legal and other fees associated with the registration of patents.  The Company has two patents and two provisional patent submissions with the United States Patent and Trade Office (USPTO), as well as an international PCT (Patent Cooperation Treaty) patent.

The Company has incurred legal and other fees associated with its application to the USPTO for trademark protection for “Vystar”, “Vytex”, and “Created by Nature. Recreated by Science.” during 2010 and 2009.

8

VYSTAR CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (unaudited)

Patents and trademarks are as follows:

	June 30, 2010			December 31, 2009
Patents	$	127,331		$	118,737
Accumulated amortization		(15,994	)		(11,834	)
		111,337			106,903
Trademarks		9,072			9,072
	$	120,409		$	115,975

Amortization expense for of the three months ended June 30, 2010 and 2009 was $3,414 and $746, respectively, and for the six months ended June 30, 2010 and 2009 was $4,160 and $1,492, respectively.

NOTE 5 – INCOME TAXES

There is no income tax benefit recorded for the losses for the three and six months ended June 30, 2010 and 2009 since management has determined that the realization of the net deferred tax asset is not assured and has created a valuation allowance for the entire amount of the net deferred tax asset.

NOTE 6 – STOCKHOLDERS’ EQUITY

In April 2009, the Company’s Board of Directors and shareholders authorized the number of preferred shares to be increased from 10,000,000 shares to 15,000,000 shares and the number of common shares from 25,000,000 shares to 50,000,000 shares.

Common Stock and Warrants

On November 2, 2009 the Company began an offering to sell up to 1,000,000 shares of common stock and 1,000,000 warrants to purchase common stock through a private placement memorandum.  Under the terms of the private placement memorandum, the Company is offering up to 1,000,000 shares of common stock at $2.00 per share.  For each two (2) shares of common stock purchased, the investor will receive a warrant to purchase a share of common stock at an exercise price of $1.50 per share exercisable for one year from issuance and an additional warrant to purchase a share of common stock at an exercise price of $3.25 per share exercisable for two years from issuance.  The Company has the right to increase the offering up to 2,000,000 shares of common stock and 2,000,000 warrants to purchase common stock. In May 2010, the Company modified the private placement memorandum by changing the price of the common stock to $1.25 per share.   The exercise price of the warrants also was modified to $1.00 per share if exercised by December 31, 2010.   If the warrants are not exercised by December 31, 2010, then the price per share reverts back to the $1.50 per share or $3.25 per share respectively. A total of an additional 129,000 shares of common stock and 129,000 warrants were issued to investors who participated in this private placement in 2009 prior to the modification of terms.   During 2010, the Company received $547,500 and issued 438,000 shares of common stock and warrants to purchase an additional 438,000 shares of common stock.   Cumulatively since November 2, 2009, the Company received $977,500 and issued 782,000 shares of common stock and 782,000 warrants related to this private placement memorandum.

In January 2010, the Company issued 20,000 shares of common stock valued at $40,598 under an agreement for professional services that were provided in the three month period ended March 31, 2010.  The value of the common stock was expensed and included in stock based compensation expense in the three month period ended March 31, 2010.

9

VYSTAR CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (unaudited)

In January 2010, the Company issued 100,000 shares of common stock valued at $185,000 under an agreement for professional services to be provided over a period of twelve months.  The amortization of deferred compensation expense for the three and six month periods ended June 30, 2010 related to these shares was $46,250 and $80,664, respectively.

In May and June 2010, the Company issued 220,000 shares of common stock valued at $293,500 under an agreement for professional services to be provided over a period of four to six months.  The amortization of deferred compensation expense for the three month period ended June 30, 2010 related to these shares was $133,474.

Additionally, the Company recorded $40,750 and $84,427 in amortization of deferred compensation expense for the three and six month periods ended June 30, 2010, respectively, related to 2009 common stock and warrants issuances for services.

NOTE 7 – STOCK-BASED COMPENSATION

Generally accepted accounting principles requires share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values at the date of grant, net of estimated forfeitures.

Options

The Company used the Black-Scholes option pricing model to estimate the grant-date fair value of awards granted during 2009 and 2010.  The following assumptions were used:

· Expected Dividend Yield – because the Company does not currently pay dividends, the expected dividend yield is zero;

· Expected Volatility in Stock Price – because trading in the Company’s stock began late in 2009, there was insufficient data to project the Company’s future volatility and instead the expected volatility of similar public entities (including companies engaged in the manufacture and/or distribution of medical, surgical and healthcare supplies) was considered with expected volatility ranging from 23.26% - 39.17%;

· Risk-free Interest Rate – reflects the average rate on a United States Treasury bond with maturity equal to the expected term of the option, ranging from 1.32 – 3.00%; and

· Expected Life of Awards – because the Company has had minimal experience with the exercise of options or warrants for use in determining the expected life for each award, the simplified method was used to calculate an expected life based on the midpoint between the vesting date and the end of the contractual term of the stock award.

The Company recorded $97,016 and $47,140 for the three month periods ended June 30, 2010 and 2009, respectively, and $166,076 and $59,401 for the six month periods ended June 30, 2010 and 2009, respectively, of stock-based compensation expense related to employee and board member stock options.  As of June 30, 2010, $995,454 of unrecognized compensation expense related to non-vested share-based awards remains to be recognized over a weighted average period of approximately 3.6 years.

10

VYSTAR CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (unaudited)

During 2004, the Board of Directors of the Company adopted a stock option plan (the “Plan”) and authorized up to 4,000,000 shares to be issued under the Plan.  In April 2009, the Company’s Board of Directors authorized an increase in the number of shares to be issued under the Plan to 10,000,000 shares, which was also approved by the Company’s shareholders, and to include the independent Board members in the plan in lieu of continuing the previous practice of granting warrants each quarter to independent board members for services.  At March 31, 2010, there were 4,025,000 shares of common stock reserved for issuance under the Plan.  The Plan permits stock options granted to employees to qualify as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended (“Incentive Stock Options”), although to date no Incentive Stock Options have been granted.  All options granted under the Plan that are not intended to qualify as Incentive Stock Options are deemed to be non-qualified options.  Stock options are typically granted at an exercise price equal to the fair market value of the Company’s common stock on the date of grant, typically vest over periods up to 4 years and are typically exercisable up to 10 years.    In the three months ended June 30, 2010, the Company issued a total of 600,000 non-qualified stock options to certain employees that will only vest upon achievement of certain financial targets during 2010-2012 and no expense has yet been recorded for these options.

The weighted-average assumptions used in the option pricing model for stock option grants were as follows for the six months ended June 30, 2010 and 2009:

	2010			2009
Expected Dividend Yield		-			-
Expected Volatility in Stock Price		39.27	%		37.85	%
Risk-Free Interest Rate		3.00	%		1.71	%
Expected Life of Stock Awards - Years		6			5
Weighted Average Fair Value at Grant Date	$	0.75		$	0.58

The following table summarizes all stock option activity of the Company for the six months ended June 30, 2010:

	Number of		Weighted Average
	Options		Exercise Price
Outstanding, December 31, 2009		5,175,000	$	1.23
Granted		800,000	$	1.94
Forfeited		-	$	-
Outstanding, June 30, 2010		5,975,000	$	1.33
Exercisable, June 30, 2010		3,695,000	$	1.08

Warrants

Warrants are issued to third parties as payment for services and in conjunction with the issuance of common stock.  The fair value of each common stock warrant issued for services is estimated on the date of grant using the Black-Scholes option pricing model.  The following weighted average assumptions were used for warrants granted for the six months ended June 30:

	2010			2009
Expected Dividend Yield		-			-
Expected Volatility in Stock Price		38.68	%		37.85	%
Risk-Free Interest Rate		2.42	%		1.71	%
Expected Life of Awards, Years		5			4.9

11

VYSTAR CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (unaudited)

The following table represents the Company’s warrant activity for the six months ended June 30, 2010:

				Weighted Average				Weighted Average
	Number of			Grant Date		Weighted Average		Remaining
	Warrants			Fair Value		Exercise Price		Contractual Life (Years)
Outstanding, December 31, 2009		2,736,514				$	1.17		3.60
Issued in private placement		567,000				$	2.38
Granted		19,595		$	0.59	$	1.58
Exercised		(1,006,250	)			$	0.41
Expired		(129,800	)			$	0.93
Outstanding, June 30, 2010		2,187,059				$	1.69		3.46
Exercisable, June 30 2010		2,187,059				$	1.69		3.46

The Company issued 19,595 warrants for services during the six months ended June 30, 2010 at exercise prices ranging from $1.15 to $1.70 per share, exercisable over 10 years from the grant date.  All of the warrants vested immediately.  The fair value of the warrants was calculated as of the date of the grant utilizing the Black-Scholes option pricing model and assumptions as detailed above.  The total amount of the fair value was $11,621 and was recorded as stock based compensation expense when vesting occurred.

NOTE 8 – RELATED PARTY TRANSACTIONS

Climax Global Energy

During 2005 and 2006, the Company advanced cash and made payments on behalf of Climax Global Energy, Inc. (“Climax”), a development stage company controlled by the Company’s former CEO, resulting in a note.  On August 15, 2008, the Company entered into an agreement with Climax which specified the repayment terms of the note receivable.  The significant terms were established as follows:  (A) the note is non-interest bearing, (B) a $25,000 payment to be made on or before September 30, 2008, (C) equal monthly payments of $5,000 will commence in October 2008, and (D) the note shall be due and payable in full no later than January 31, 2010.  In 2009 all payments due under the agreement had been received by the Company and the note was paid in full in the first quarter of 2010.

Officers and Directors

On March 31, 2009, the Company’s four independent directors each received warrants, valued at approximately $12,000, to purchase 20,000 shares of the Company’s common stock with an exercise price of $1.63.  The warrants are exercisable in whole or in part at or before March 31, 2019 and vested immediately.

As previously discussed in Note 7, during April 2009 the Company’s Board of Directors authorized the inclusion of the independent Board members in the Company’s stock option plan in lieu of continuing the previous practice of granting warrants each quarter to independent board members.  Each Board member was granted options to purchase 400,000 shares of the Company’s common stock at an exercise price of $1.63.  Vesting occurs at the end of each complete calendar quarter served as an independent board member of the Company at a rate of 20,000 shares each.  The options are exercisable in whole or in part before June 30, 2019.

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VYSTAR CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (unaudited)

The options granted to one of the Board members were forfeited in June 2009 due to resignation from the Board.  That member returned to the Board in September 2009 and was granted an option to purchase 400,000 shares of the Company’s common stock at an exercise price of $1.63.  The terms are as discussed in the above paragraph and the options are exercisable in whole or in part before September 30, 2019.

Other

At December 31, 2009, the Company had accrued severance of $81,250 payable to the Company’s former CFO, Glenn Smotherman.  Mr. Smotherman has agreed to payment of this liability beginning at the earlier of payment in full of the Climax receivable or the Company’s achievement of specific sales goals.  The payments on this liability began in January 2010 and will be satisfied in 24 equal monthly payments.  The current and long-term portions of this liability at June 30, 2010 were $40,626 and $20,312, respectively.

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ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

GENERAL

Vystar LLC, the predecessor to the Company, was formed February 2, 2000, as a Georgia limited liability company by Travis W. Honeycutt. The Company’s operations under the LLC entity were focused substantially on the research, development and testing of the Vytex® Natural Rubber Latex ("NRL") process, as well as attaining intellectual property rights. In 2003, the Company reorganized as Vystar Corporation, a Georgia corporation, at which time all assets and liabilities of the limited liability company became assets and liabilities of Vystar Corporation, including all intellectual property rights, patents and trademarks.

We are the creator and exclusive owner of the innovative technology to produce Vytex NRL. This technology reduces antigenic protein in natural rubber latex products to virtually undetectable levels in both liquid NRL and finished latex products.  We have started to introduce Vytex NRL, our new “ultra low protein” natural rubber latex, throughout the worldwide marketplace that uses NRL or latex substitutes as a component of manufactured products.  Natural rubber latex is used in an extensive range of products including balloons, textiles, footwear and clothing (threads), adhesives, foams, furniture, carpet, paints, coatings, protective equipment, sporting equipment, and especially health care products such as condoms, surgical and exam gloves. We produce Vytex through toll manufacturing and licensing agreements and have started introducing Vytex NRL into the supply channels with aggressive, targeted marketing campaigns directed to the end users.

We are no longer a development stage company, having transitioned to the operating stage during the last quarter of 2009.  Our primary focus now is increasing market-acceptance for Vytex NRL and, accordingly, increasing sales.  With this change in our status, we expect that our financial condition and results of operations will undergo substantial change from what we experienced as a development stage company.  In addition to recording both revenue and expense from product sales, we expect to incur increased costs for sales and marketing expenses. Accordingly, the financial condition and results of operations reflected in our historical financial statements are not expected to be indicative of our future financial condition and results of operations.

Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles. As such, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. By their nature, these estimates and judgments are subject to an inherent degree of uncertainty. Our management reviews its estimates on an on-going basis. We base our estimates and assumptions on historical experience, knowledge of current conditions and our understanding of what we believe to be reasonable that might occur in the future considering available information. Actual results may differ from these estimates, and material effects on our operating results and financial position may result.

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RESULTS OF OPERATIONS

Comparison of the Three Months Ended June 30, 2010 with the Three Months Ended June 30, 2009

Revenues

Revenues for the three months ended June 30, 2010 and 2009 were $353,302 and $0, respectively.     During the quarter ended June 30, 2010, we offered introductory pricing to customers to partially offset the costs they incurred in preparation and startup costs associated with introducing Vytex into their manufacturing processes which generated the negative gross margin in the quarter.

Operating Expenses

	Three Months Ended
	June 30,				$			%
	2010		2009		Change			Change
OPERATING EXPENSES:
Sales and marketing	$	196,606	$	172,640	$	23,966			13.9	%
General and administrative		614,741		343,577		271,164			78.9	%
Research and development		12,591		45,956		(33,365	)		-72.6	%
	$	823,938	$	562,173	$	261,765			46.6	%

Our operating expenses were $823,938 and $562,173 for the three months ended June 30, 2010 and 2009, respectively, for an increase of $261,765 or 46.6%.  In the three months ended June 30, 2010, $97,016 was recorded for stock-based compensation as well as an additional $220,474 for amortization of deferred compensation.  The deferred compensation expense represents the amortized fair value of stock and warrants issued for future services to non-employees.  This compares with $47,140 for stock-based compensation in 2009 for the same period and $4,597 for amortization of deferred compensation in that period.  The deferred compensation expense for 2009 represents the amortized fair value of warrants issued for future services to non-employees.  The stock-based compensation charges to operations in 2010 and 2009 were primarily for stock options granted under our Stock Option Plan to executive officers and were made so that their interests would be aligned with those of shareholders, providing incentive to improve Company performance on a long-term basis.  Grants of warrants were also made to third parties for various services rendered to preserve operating capital.   Amortization of deferred compensation is recorded in general and administrative expenses.   Stock-based compensation expense is included in sales and marketing and general and administrative expenses.   For the three months ended June 30, 2010, the amount of stock-based compensation included in sales and marketing was $15,588 and in general and administrative was $81,428.   For the three months ended June 30, 2009, the amount of stock-based compensation included in sales and marketing was $12,261 and in general and administrative was $34,879.

For the three months ended June 30, 2010 and 2009, sales and marketing expenses were $196,606 and $172,640, respectively.  The increase of $23,966 is primarily due to in 2010 having one additional full-time sales professional, increases in travel and other related sales activities, including consulting services and promotional and advertising expenditures.   Sales and marketing expenses consist primarily of compensation and support costs for sales and marketing personnel, professional services, promotional, marketing and related activities.

For the three months ended June 30, 2010 and 2009, general and administrative expenses were $614,741 and $343,577, respectively.  The increase of $271,164 is primarily composed of increased costs of being a public company and relate primarily to investor and public relations, and insurance cost increases, as well as the increase in amortization of deferred compensation for stock and warrants issued for services and increase in stock-based compensation expense.   General and administrative expenses consist primarily of compensation and support costs for management and administrative staff, and for other general and administrative costs, including professional fees related to accounting, finance, and legal services as well asother operating expenses.

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Included in our operating expenses for the three months ended June 30, 2010 was $12,591 for research and development expenses compared to $45,956 for the three months ended June 30, 2009 for a decrease of $33,365.   The decrease is primarily due to the completion of many research and development projects in 2009 with more focus in 2010 on sales and marketing and less on research and development activities.   Research and development expenses consist primarily of compensation for employees and contractors engaged in internal research and product development activities, laboratory operations, and related expenses.

Other Income (Expense)

Other income for the three months ended June 30, 2010, consisted of $863 of interest income on cash deposits net of interest expense of $331.   This compares to $2,613 of interest income for the three months ended June 30, 2009 net of $701 interest expense.

Net Loss

Net loss was $952,566 and $560,261 for the three months ended June 30, 2010 and 2009, respectively, an increase of $392,305 in the net loss.

Comparison of the Six Months Ended June 30, 2010 with the Six Months Ended June 30, 2009

Revenues

Revenues for the six months ended June 30, 2010 and 2009 were $436,711 and $2,530, respectively.     During the quarter ended June 30, 2010, we offered introductory pricing to customers to partially offset the costs they incurred in preparation and startup costs associated with introducing Vytex into their manufacturing processes which generated the negative gross margin in the quarter.

Operating Expenses

	Six Months Ended
	June 30,				$			%
	2010		2009		Change			Change
OPERATING EXPENSES:
Sales and marketing	$	385,085	$	314,483	$	70,602			22.5	%
General and administrative		1,081,329		668,650		412,679			61.7	%
Research and development		29,528		128,093		(98,565	)		-76.9	%
	$	1,495,942	$	1,111,226	$	384,716			34.6	%

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Our operating expenses were $1,495,942 and $1,111,226 for the six months ended June 30, 2010 and 2009, respectively, for an increase of $384,716 or 34.6%.  In the six months ended June 30, 2010, $166,076 was recorded for stock-based compensation as well as an additional $298,565 for amortization of deferred compensation.  The deferred compensation expense represents the amortized fair value of stock and warrants issued for future services to non-employees.  This compares with $59,401 for stock-based compensation in 2009 for the same period and $99,245 for amortization of deferred compensation in that period.  The deferred compensation expense for 2009 represents the amortized fair value of warrants issued for future services to non-employees.  The stock-based compensation charges to operations in 2010 and 2009 were primarily for stock options granted under our Stock Option Plan to executive officers and were made so that their interests would be aligned with those of shareholders, providing incentive to improve Company performance on a long-term basis.  Grants of stock purchase warrants were also made to third parties for various services rendered.   Amortization of deferred compensation is recorded in general and administrative expenses.   Stock-based compensation expense is included in sales and marketing and general and administrative expenses.   For the six months ended June 30, 2010, the amount of stock-based compensation included in sales and marketing was $31,176 and in general and administrative was $134,900.   For the six months ended June 30, 2009, the amount of stock-based compensation included in sales and marketing was $24,522 and in general and administrative was $34,879.

For the six months ended June 30, 2010 and 2009, sales and marketing expenses were $385,085 and $314,483, respectively.  The increase of $70,602 is primarily due to in 2010 having one additional full-time sales professional, increases in travel and other related sales activities, including consulting services and promotional and advertising expenditures.   Sales and marketing expenses consist primarily of compensation and support costs for sales and marketing personnel, professional services, promotional, marketing and related activities.

For the six months ended June 30, 2010 and 2009, general and administrative expenses were $1,081,329 and $668,650, respectively.  The increase of $412,679 is primarily composed of increased costs of being a public company and relate primarily to investor and public relations, and insurance cost increases, as well as the increase in amortization of deferred compensation for stock and warrants issued for services and increase in stock-based compensation expense.   General and administrative expenses consist primarily of compensation and support costs for management and administrative staff, and for other general and administrative costs, including professional fees related to accounting, finance, and legal services as well asother operating expenses.

Included in our operating expenses for the six months ended June 30, 2010 was $29,528 for research and development expenses compared to $128,093 for the six months ended June 30, 2009 for a decrease of $98,565.   The decrease is primarily due to the completion of many research and development projects in 2009 with more focus in 2010 on sales and marketing and less on research and development activities.   Research and development expenses consist primarily of compensation for employees and contractors engaged in internal research and product development activities, laboratory operations, and related expenses.

Other Income (Expense)

Other income for the six months ended June 30, 2010, consisted of $2,046 of interest income on cash deposits net of interest expense of $959.   This compares to $10,236 of interest income for the six months ended June 30, 2009 net of $720 interest expense and the $30,000 reversal of a provision for a related party note receivable.

Net Loss

Net loss was $1,612,831 and $1,069,180 for the six months ended June 30, 2010 and 2009, respectively, an increase of $543,651 in the net loss.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2010, we had current assets of $1,398,388, including $812,362 in cash, and $605,075 of current liabilities, or working capital of $793,313.  We use working capital to finance our ongoing operations and since those operations do not currently cover all of our operating costs, managing working capital is essential to our company’s future success.

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Management plans to finance future operations through the use of cash on hand, increased revenues and raising additional capital through a private placement or other equity or debt offering and stock warrant exercises from existing shareholders.  As the Company’s product continues to gain market acceptance, the Company expects sales in 2010 to continually increase. The Company also has been engaged in raising additional capital through a private placement and stock warrant exercises from existing shareholders.  Year-to-date through August 12, 2010, the Company has raised additional capital of $560,000 and $431,000 through the private placement and stock warrant exercises, respectively.   The Company is in discussions with several investment banks and advisors and plans to raise at least an additional $2,000,000 from a private placement or other instrument during 2010.  If no additional funding is completed, we estimate that we will have sufficient cash to operate through the end of 2010.  In view of these matters, the Company’s ability to continue as a going concern is dependent upon our ability to secure additional financing necessary until the Company is able to generate adequate funds from operations.  Since inception, the Company has financed its activities principally from the sale of equity securities. While the Company has been successful in the past in obtaining the necessary capital to support its operations, there is no assurance that the Company will be able to raise additional equity capital or other financing under commercially reasonable terms and conditions, or at all. Furthermore, if the Company issues equity or debt securities to raise additional funds, existing shareholders may experience dilution and the new equity or debt securities it issues may have rights, preferences and privileges senior to those of existing shareholders. In addition, if the Company raises additional funds through collaboration, licensing or other similar arrangements, it may be necessary to relinquish valuable rights to products or proprietary technologies, or grant licenses on terms that are not favorable. If the Company does not achieve its revenue projections or cannot raise funds on acceptable terms, the Company will not be able to continue as a going concern and execute the Company’s business plan, take advantage of future opportunities, or respond to competitive pressure or unanticipated customer requirements. Any of these events would adversely affect the Company’s ability to achieve the Company’s sales goals, which could have a material adverse effect on the Company’s business, results of operations and financial condition. The Company’s financial statements do not include any adjustments relating to the recoverability or classification of assets or the amounts of liabilities that might result from the outcome of these uncertainties.

Sources and Uses of Cash

For the six months ended June 30, 2010 and 2009, net cash used by operations was $1,056,890 and $970,443, respectively.  The negative cash flow for six months ended June 30, 2010 was primarily the result of the $1,612,831 net loss.  This was reduced by several non-cash charges, primarily the stock-based compensation charges of $166,076, stock and warrants issued for services of $51,327, and $298,565 for amortization of deferred compensation.  The receipt of the amount due on the related party note receivable of $137,949 offset some the above charges.  The Company made purchases of and deposits on inventory, of approximately $487,000, during this period.  The negative cash flow for the six months ended June 30, 2009 resulted primarily from the net loss of $1,069,180 reduced by non-cash charges related to stock-based compensation expense of $59,401 and amortization of deferred compensation of $99,245.

Net cash provided by investing activities for the six months ended June 30, 2010 was $129,355 compared to net cash provided by investing activities for the same period of 2009 of $773,323.   Cash provided in 2010 was related to the proceeds from a related party note receivable offset partially by legal and other costs associated with our patents and trademarks.   In 2009, we received the proceeds from a maturing certificate of deposit of $750,000 and $30,000 in proceeds from a related party note receivable, offset slightly by costs of $6,677 associated with our patents and trademarks.

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Net cash provided by financing activities for the six months ended June 30, 2010 and 2009, was $959,750 and $585,200, respectively, representing proceeds from the sale of common stock and common stock purchase warrants and the exercise of common stock purchase warrants.

 Our future expenditures and capital requirements will depend on numerous factors, including: the rate at which we can introduce and sell NRL to manufacturers; the costs of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; and market acceptance of our products and competing technological developments. We expect that we will incur in excess of $2 million of expenditures over the next 12 months including almost $800,000 in both personnel costs in general and administrative expenses, including professional fees.  As we expand our activities and operations, our cash requirements are expected to increase at a rate consistent with revenue growth after we have achieved sustained revenue generation.

We expect that our cash used in operations will continue to increase as a result of the following planned activities:

· The addition of staff to our workforce as needs arise;

· Increased spending for the expansion of our research and development efforts, including clinical trials, regulatory submissions, assistance with manufacturing trials and product enhancements;

· Increased spending in marketing as our products are introduced into the marketplace;

· Increases in our general and administrative activities related to our operations as a reporting public company and related corporate compliance requirements.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that may be reasonably likely to have a current or future material effect on our financial condition, liquidity, or results of operations.

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

Our Management’s Discussion and Analysis contains not only statements that are historical facts, but also statements that are forward-looking (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Forward-looking statements are, by their very nature, uncertain and risky. These risks and uncertainties include international, national and local general economic and market conditions; demographic changes; our ability to sustain, manage, or forecast growth;  product development, introduction and acceptance; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; fluctuations and difficulty in forecasting operating results; changes in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; the ability to protect technology; and other risks that might be detailed from time to time in our filings with the Securities and Exchange Commission.

Although the forward-looking statements in this Quarterly Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by them. Consequently, and because forward-looking statements are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. You are urged to carefully review and consider the various disclosures made by us in this report and in our other reports as we attempt to advise interested parties of the risks and factors that may affect our business, financial condition, and results of operations and prospects.

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ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required.

ITEM  4.  CONTROLS AND PROCEDURES

(A) Evaluation of disclosure controls and procedures

Our management, including our principal executive and principal financial officer, has evaluated the effectiveness of our disclosure controls and procedures as of June 30, 2010.  Our disclosure controls and procedures are designed to provide reasonable assurance that the information required to be disclosed in this quarterly report on Form 10-Q has been appropriately recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive and principal financial officer, to allow timely decisions regarding required disclosure.  Based on that evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures are effective to the reasonable assurance level.

(B) Changes in internal control over financial reporting

We regularly review our system of internal control over financial reporting and make changes to our processes and systems to improve controls and increase efficiency, while ensuring that we maintain an effective internal control environment.  Changes may include such activities as implementing new, more efficient systems, consolidating activities, and migrating processes.

There were no changes in our internal control over financial reporting that occurred during the second quarter of 2010 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

(C) Limitations on the Effectiveness of Controls

We have confidence in our internal controls and procedures. Nevertheless, our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure procedures and controls or our internal controls will prevent all errors or intentional fraud. An internal control system, no matter how well-conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of such internal controls are met. Further, the design of an internal control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all internal control systems, no evaluation of controls can provide absolute assurance that all our control issues and instances of fraud, if any, have been detected.

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PART II.  OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS

None.

ITEM 2.    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Set forth below is information regarding shares of common stock, warrants and options to purchase common stock issued by the Company in the quarter ended June 30, 2010, that were not registered under the Securities Act of 1933, as amended (the “Securities Act”). Also included is the consideration, if any, received by the Company for such shares, warrants and options and information relating to the section of the Securities Act, or rule of the Securities and Exchange Commission, under which exemption from registration was claimed.

(a) Common Stock and Warrant Financings 

From April 1, 2010 through June 30, 2010, the Company issued 242,000 shares of its common stock at $1.25 per share.  In connection with such offering, the Company issued one warrant to purchase common stock at $1.50 per share and one warrant to purchase common stock at $3.25 per share for each two shares of common stock purchased.  Additionally, the Company issued 202,500 shares of its common stock to investors who invested in this offering prior to it being amended to change the price to $1.25 per share.

From April 1, 2010 through June 30, 2010, the Company issued 375,000 shares of its common stock upon the exercise of warrants at $1.00 per share.

From April 1, 2010 through June 30, 2010, the Company issued 220,000 shares of its common stock valued at $293,500 for services to be rendered to the Company in 2010.

From April 1, 2010 through June 30, 2010, the Company issued 1,250 warrants to purchase one share of common stock at an exercise price of $1.60 per share, 1,250 warrants to purchase one share of common stock at an exercise price of $1.55 per share, 2,300 warrants to purchase one share of common stock at an exercise price of $1.15 per share, and 1,000 warrants to purchase one share of common stock at an exercise price of $1.39 per share, all for services rendered to the Company.

(b) Stock Option Grants

From April 1, 2010 through June 30, 2010, the Company issued options to employees to purchase an aggregate of 800,000 shares of its common stock at an exercise price of $1.75 for 200,000 options and $2.00 for 600,000 options.  Generally, the options vest over a period of three years and none have been exercised as of June 30, 2010.

(c) Application of Securities Laws and Other Matters

No underwriters were involved in the foregoing sales of securities. The securities described in section (a) of this Item 2 were issued to investors in reliance upon the exemption from the registration requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder, as applicable, relative to sales by an issuer not involving any public offering, to the extent an exemption from such registration was required.

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            All of the foregoing securities are deemed restricted securities for purposes of the Securities Act. All certificates representing the issued shares of common stock, warrants and options described in this Item 2 included appropriate legends setting forth that the securities had not been registered and the applicable restrictions on transfer.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None

ITEM 5.  OTHER INFORMATION

None

ITEM 6.  EXHIBITS

Exhibit Index *

* Some Exhibits have certain confidential information redacted pursuant to a request for confidential treatment

Number	Description
3.1	Articles of Incorporation of Vystar Acquisition Corporation (now named Vystar Corporation) dated December 17, 2003 (as amended) (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
3.2	Bylaws of Vystar Corporation (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
4.1	Specimen Certificate evidencing shares of Vystar common stock (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
4.2	Form of Share Subscription Agreements and Investment Letter (First Private Placement) (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
4.3	Form of Share Subscription Agreement and Investment Letter (Second Private Placement) (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
4.4	Form of Vystar Corporation Investor Questionnaire and Subscription Agreement (Third Private Placement) (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)

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10.1*	Manufacturing Agreement between Vystar Corporation and Revertex (Malaysia) Sdn. Bhd. effective April 1, 2008 (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.2	Executive Employment Agreement between Vystar Corporation and William R. Doyle, dated November 11, 2008 (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.3	Management Agreement dated January 31, 2008 between Universal Capital Management, Inc. and Vystar Corporation (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.4	Letter Agreement dated August 15, 2008 between Universal Capital Management, Inc. and Vystar Corporation  (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.5	Addendum to Management Agreement dated February 29, 2008 between Universal Capital Management, Inc. and Vystar Corporation (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.6	Warrant Purchase Agreement dated January 31, 2008 between Universal Capital Management, Inc. and Vystar Corporation (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.7	Management Agreement dated April 30, 2008 between Universal Capital Management, Inc. and Vystar Corporation (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.8	Warrant Purchase Agreement dated April 30, 2008 between Universal Capital Management, Inc. and Vystar Corporation (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.9	Vystar Corporation 2004 Long-Term Compensation Plan, as amended (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.10	Employment Agreement between Vystar Corporation and Sandra Parker dated April 1, 2008 (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.11	First Amendment to Employment Agreement dated July 1, 2009, between Vystar Corporation and Sandra Parker (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.12*	Distributor Agreement among Vystar Corporation, Centrotrade Minerals & Metals, Inc. and Centrotrade Deutschland, GmbH dated January 6, 2009 (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.13	Note agreement between Vystar Corporation and Climax Global Energy, Inc. dated August 15, 2008 (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)

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10.14	Lockup Agreement with Glen W. Smotherman dated July 30, 2009 (incorporated by reference to Vystar’s Registration Statement on Form S-1 originally filed on November 13, 2008, Registration Statement No. 333-155344)
10.15	Employment Agreement between Vystar Corporation and Matthew Clark dated January 4, 2010 (incorporated by reference to Vystar’s Current Report on Form 8-K filed on April 13, 2010)
10.16	Employment Agreement between Vystar Corporation and Jack W. Callicutt dated April 8, 2010 (incorporated by reference to Vystar’s Current Report on Form 8-K filed on April 13, 2010)
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as  adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

* Confidential treatment requested as to certain portions, which portions have been omitted and filed separately with the Securities and Exchange Commission.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	VYSTAR CORPORATION
Date:  August 16, 2010	By:	/s/ William R. Doyle
	William R. Doyle
	Chairman, President, Chief Executive Officer and Director (Principal Executive Officer)
Date: August 16, 2010	By:	/s/ Jack W. Callicutt
	Jack W. Callicutt
	Chief Financial Officer (Principal Financial and Accounting Officer)

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