SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
  
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Osborn Keith D.

(Last) (First) (Middle)
5671 PEACHTREE-DUNWOODY RD

(Street)
ATLANTA GA 30342

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Vystar Corp [ VYST ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
05/07/2013
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
10% Convertible Promissory Note due May 6, 2015 $0.075 05/07/2013 A 500,000 05/07/2013 05/06/2015 Common Stock 500,000 $0.00 500,000 D
10% Convertible Promissory Note due May 6, 2015 $0.075 05/07/2013 A 1,000,000 05/07/2013 05/06/2015 Common Stock 1,000,000 $0.00 1,000,000 I By Sound Investment Partners, LLC(1)
Common Stock Warrants (right to buy) $0.27 05/07/2013 D(2) 30,000 05/12/2011 05/12/2013 Common Stock 30,000 (2) 0 D
Common Stock Warrants (right to buy) $0.1 05/07/2013 A(2) 30,000 05/07/2013 05/06/2014 Common Stock 30,000 (2) 30,000 D
Common Stock Warrants (right to buy) $0.27 05/07/2013 D(2) 60,000 03/11/2011 03/12/2013 Common Stock 60,000 (2) 0 I By Sound Investment Partners, LLC(1)
Common Stock Warrants (right to buy) $0.1 05/07/2013 A(2) 60,000 05/07/2013 05/06/2014 Common Stock 60,000 (2) 60,000 I By Sound Investment Partners, LLC(1)
10% Convertible Note due May 12, 2011 $0.27 05/07/2013 D 277,778 05/12/2011 05/12/2013 Common Stock 277,778 (3) 0 D
10% Convertible Note due May 6, 2015 $0.075 05/07/2013 A 1,208,192 05/07/2013 05/06/2015 Common Stock 1,208,192 (3) 1,208,192 D
10% Convertible Note due March 11, 2013 $0.27 05/07/2013 D 555,555 03/11/2011 03/11/2013 Common Stock 555,555 (4) 0(4) I By Sound Investment Partners, LLC(1)
10% Convertible Note due May 6, 2015 $0.075 05/07/2013 A 2,502,877 05/07/2013 05/06/2015 Common Stock 2,502,877 (4) 2,502,877 I By Sound Investment Partners, LLC(1)
Explanation of Responses:
1. The securities are held by Sound Investment Partners, LLC. The reporting person is the Manager of Sound Investment Partners, LLC.
2. The reported transactions involved an amendment of the exercise price and the expiration date of an outstanding warrant, resulting in the deemed cancellation of the "old" warrant and the grant of a replacement warrant.
3. The reported transactions involved an exchange of a 2011 Convertible Note (the "Original Note") for a 2013 Convertible Note in the principal amount of $90,614.38, representing the principal amount plus accrued interest of the Original Note (the "New Note"). The terms of the New Note include a new conversion price of $0.075 per share.
4. The reported transactions involved an exchange of a 2011 Convertible Note (the "Original Note") for a 2013 Convertible Note in the principal amount of $187,715.75, representing the principal amount plus accrued interest of the Original Note (the "New Note"). The terms of the New Note include a new conversion price of $0.075 per share.
Remarks:
Keith D. Osborn, M.D. 05/10/2013
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.