----

----

----

----

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

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

----

----

| Georgia                                                       | 20-2027731                       |
|---------------------------------------------------------------|----------------------------------|
| (State or other jurisdiction ofincorporation or organization) | (IRS EmployerIdentification No.) |

----

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

----

| Part I.  Financial Information |                                                                                        |   |
|------------------------------------------|---------------------------------------------------------------------------------------------|--------|
|                                     |                                                                                        |   |   |
| Item 1.                                  | Financial Statements                                                                        |   |   |
|                                     | Balance Sheets at March 31, 2011 (unaudited) and December 31, 2010                          |   | 3 |
|                                     | Statements of Operations for the Three Months Ended March 31, 2011                          |   |   |
|                                     | and 2010 (unaudited)                                                                        |   | 4 |
|                                     | Statements of Cash Flows for the Three Months Ended March 31, 2011                          |   |   |
|                                     | and 2010(unaudited)                                                                         |   | 5 |
|                                     | Notes to Financial Statements (unaudited)                                                   |   | 6 |
|                                     |                                                                                        |   |   |
| Item 2.                                  | Management’s Discussion and Analysis of Financial Condition and Results of Operations |   | 13 |
|                                     |                                                                                        |   |   |
| Item 3.                                  | Quantitative and Qualitative Disclosures About Market Risk                                  |   | 16 |
|                                     |                                                                                        |   |   |
| Item 4.                                  | Controls and Procedures                                                                     |   | 17 |
|                                     |                                                                                        |   |   |
| Part II.  Other Information    |                                                                                        |   |
|                                     |                                                                                        |   |   |
| Item 1.                                  | Legal Proceedings                                                                           |   | 17 |
|                                     |                                                                                        |   |   |
| Item 2.                                  | Unregistered Sales of Equity Securities and Use of Proceeds                                 |   | 17 |
|                                     |                                                                                        |   |   |
| Item 3.                                  | Defaults Upon Senior Securities                                                             |   | 18 |
|                                     |                                                                                        |   |   |
| Item 4.                                  | Submission of Matters to a Vote of Security Holders                                         |   | 18 |
|                                     |                                                                                        |   |   |
| Item 5.                                  | Other Information                                                                           |   | 18 |
|                                     |                                                                                        |   |   |
| Item 6.                                  | Exhibits                                                                                    |   | 18 |

----

|                                                                                                                                                                         |   | March 31,2011 |        |   | December 31,2010 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|-------------|--------|-----------------------|--------|
|                                                                                                                                                                         |   | (unaudited)        |        |   |                  |   |
| ASSETS                                                                                                                                                                       |   |               |        |   |                  |   |
| CURRENT ASSETS                                                                                                                                                               |   |               |        |   |                  |   |
| Cash                                                                                                                                                                         |   | $                  | 271,764     |   |                  | $      | 282,625 |   |
| Accounts receivable                                                                                                                                                          |   |               | 12,641      |   |                  |   | 31,707 |   |
| Inventory                                                                                                                                                                    |   |               | 110,433     |   |                  |   | 189,268 |   |
| Prepaid expenses                                                                                                                                                             |   |               | 53,480      |   |                  |   | 97,396 |   |
| Other                                                                                                                                                                        |   |               | 24,243      |   |                  |   | 54,898 |   |
| TOTAL CURRENT ASSETS                                                                                                                                                         |   |               | 472,561     |   |                  |   | 655,894 |   |
|                                                                                                                                                                         |   |               |        |   |                  |   |   |   |
| PROPERTY AND EQUIPMENT, NET                                                                                                                                                  |   |               | 2,065       |   |                  |   | 2,622 |   |
|                                                                                                                                                                         |   |               |        |   |                  |   |   |   |
| OTHER ASSETS                                                                                                                                                                 |   |               |        |   |                  |   |   |   |
| Deferred financing costs, net                                                                                                                                                |   |               | 661,437     |   |                  |   | - |   |
| Patents and trademarks, net                                                                                                                                                  |   |               | 148,396     |   |                  |   | 125,260 |   |
| Other                                                                                                                                                                        |   |               | 4,421       |   |                  |   | 4,421 |   |
|                                                                                                                                                                         |   |               |        |   |                  |   |   |   |
| TOTAL ASSETS                                                                                                                                                                 |   | $                  | 1,288,880   |   |                  | $      | 788,197 |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                         |   |               |        |   |                  |   |   |   |
|                                                                                                                                                                         |   |               |        |   |                  |   |   |   |
| CURRENT LIABILITIES                                                                                                                                                          |   |               |        |   |                  |   |   |   |
| Accounts payable                                                                                                                                                             |   | $                  | 279,035     |   |                  | $      | 210,106 |   |
| Accrued compensation                                                                                                                                                         |   |               | 248,762     |   |                  |   | 205,395 |   |
| Accrued expenses                                                                                                                                                             |   |               | 358,650     |   |                  |   | 250,656 |   |
| TOTAL CURRENT LIABILITIES                                                                                                                                                    |   |               | 886,447     |   |                  |   | 666,157 |   |
|                                                                                                                                                                         |   |               |        |   |                  |   |   |   |
| NOTES PAYABLE AND ACCRUED INTEREST, net of debt discount of $46,443                                                                                                          |   |               | 363,557     |   |                  |   | - |   |
|                                                                                                                                                                         |   |               |        |   |                  |   |   |   |
| TOTAL LIABILITIES                                                                                                                                                            |   |               | 1,250,004   |   |                  |   | 666,157 |   |
|                                                                                                                                                                         |   |               |        |   |                  |   |   |   |
| 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; 15,425,024 and 15,417,524 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively |   |               | 1,543       |   |                  |   | 1,542 |   |
| Additional paid-in capital                                                                                                                                                   |   |               | 15,161,088  |   |                  |   | 14,192,551 |   |
| Deferred compensation                                                                                                                                                        |   |               | -           |   |                  |   | (11,836 | ) |
| Accumulated deficit                                                                                                                                                          |   |               | (15,123,755 | )      |                  |   | (14,060,217 | ) |
| TOTAL STOCKHOLDERS' EQUITY                                                                                                                                                   |   |               | 38,876      |   |                  |   | 122,040 |   |
|                                                                                                                                                                         |   |               |        |   |                  |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                   |   | $                  | 1,288,880   |   |                  | $      | 788,197 |   |

----

|                                                                                                                                                              |   | Three Months Ended March 31, |       |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|------------|
|                                                                                                                                                              |   | 2011                         |       |   | 2010 |   |
|                                                                                                                                                              |   |                         |       |   |   |   |
| REVENUES, NET                                                                                                                                                     |   | $                            | 119,039    |   |   | $ | 83,409 |   |
|                                                                                                                                                              |   |                         |       |   |   |   |   |   |
| COST OF REVENUES                                                                                                                                                  |   |                         | 77,880     |   |   |   | 72,225 |   |
| Gross Profit                                                                                                                                                      |   |                         | 41,159     |   |   |   | 11,184 |   |
|                                                                                                                                                              |   |                         |       |   |   |   |   |   |
| OPERATING EXPENSES                                                                                                                                                |   |                         |       |   |   |   |   |   |
| Sales and marketing, including non-cash share-based compensation of $93,412 and $21,908 for the three months ended March 31, 2011 and 2010, respectively          |   |                         | 250,612    |   |   |   | 188,479 |   |
| General and administrative, including non-cash share-based compensation of $496,190 and $174,400 for the three months ended March 31, 2011 and 2010, respectively |   |                         | 790,171    |   |   |   | 466,588 |   |
| Research and development                                                                                                                                          |   |                         | 26,360     |   |   |   | 16,937 |   |
| Total Operating Expenses                                                                                                                                          |   |                         | 1,067,143  |   |   |   | 672,004 |   |
|                                                                                                                                                              |   |                         |       |   |   |   |   |   |
| LOSS FROM OPERATIONS                                                                                                                                              |   |                         | (1,025,984 | ) |   |   | (660,820 | ) |
|                                                                                                                                                              |   |                         |       |   |   |   |   |   |
| OTHER INCOME (EXPENSE)                                                                                                                                            |   |                         |       |   |   |   |   |   |
| Interest income                                                                                                                                                   |   |                         | 199        |   |   |   | 1,183 |   |
| Interest expense, including amortization of deferred financing costs                                                                                              |   |                         | (37,753    | ) |   |   | (628 | ) |
|                                                                                                                                                              |   |                         |       |   |   |   |   |   |
| NET LOSS                                                                                                                                                          |   | $                            | (1,063,538 | ) |   | $ | (660,265 | ) |
|                                                                                                                                                              |   |                         |       |   |   |   |   |   |
| Basic and Diluted Loss per Share                                                                                                                                  |   | $                            | (0.07      | ) |   | $ | (0.05 | ) |
|                                                                                                                                                              |   |                         |       |   |   |   |   |   |
| Basic and Diluted Weighted Average Number of Common Shares Outstanding                                                                                       |   |                         | 15,417,691 |   |   |   | 13,375,510 |   |

----

|                                                                                          |   | Three Months Ended March 31, |       |
|-----------------------------------------------------------------------------------------------|--------|------------------------------|------------|
|                                                                                          |   | 2011                         |       |   | 2010 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                                          |   |                         |       |   |   |   |
| Net loss                                                                                      |   | $                            | (1,063,538 | ) |   | $ | (660,265 | ) |
| Adjustment to reconcile net loss to net cash used in operating activities                |   |                         |       |   |   |   |   |   |
| Share-based compensation expense                                                              |   |                         | 589,602    |   |   |   | 196,308 |   |
| Depreciation                                                                                  |   |                         | 557        |   |   |   | 1,886 |   |
| Amortization                                                                                  |   |                         | 29,633     |   |   |   | 746 |   |
| (Increase) decrease in assets                                                                 |   |                         |       |   |   |   |   |   |
| Accounts receivable                                                                           |   |                         | 19,066     |   |   |   | (10,499 | ) |
| Inventory                                                                                     |   |                         | 78,835     |   |   |   | (12,751 | ) |
| Prepaid expenses                                                                              |   |                         | 43,916     |   |   |   | 38,595 |   |
| Other                                                                                         |   |                         | 30,655     |   |   |   | (106,078 | ) |
| Increase (decrease) in liabilities                                                            |   |                         |       |   |   |   |   |   |
| Accounts payable                                                                              |   |                         | 68,929     |   |   |   | 36,128 |   |
| Accrued expenses                                                                              |   |                         | 151,361    |   |   |   | (3,867 | ) |
| Interest payable                                                                              |   |                         | 10,000     |   |   |   | - |   |
|                                                                                          |   |                         |       |   |   |   |   |   |
| Net cash used in operating activities                                                         |   |                         | (40,984    | ) |   |   | (519,797 | ) |
|                                                                                          |   |                         |       |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                                          |   |                         |       |   |   |   |   |   |
| Proceeds from related party note receivable                                                   |   |                         | -          |   |   |   | 137,949 |   |
| Cost of patents                                                                               |   |                         | (25,795    | ) |   |   | (8,594 | ) |
|                                                                                          |   |                         |       |   |   |   |   |   |
| Net cash provided by investing activities                                                     |   |                         | (25,795    | ) |   |   | 129,355 |   |
|                                                                                          |   |                         |       |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                          |   |                         |       |   |   |   |   |   |
| Proceeds from notes payable                                                                   |   |                         | 400,000    |   |   |   | - |   |
| Deferred financing costs                                                                      |   |                         | (347,832   | ) |   |   | - |   |
| Issuance of common stock                                                                      |   |                         | 3,750      |   |   |   | 282,250 |   |
|                                                                                          |   |                         |       |   |   |   |   |   |
| Net cash provided by financing activities                                                     |   |                         | 55,918     |   |   |   | 282,250 |   |
|                                                                                          |   |                         |       |   |   |   |   |   |
| NET DECREASE IN CASH                                                                          |   |                         | (10,861    | ) |   |   | (108,192 | ) |
|                                                                                          |   |                         |       |   |   |   |   |   |
| CASH - BEGINNING OF PERIOD                                                                    |   |                         | 282,625    |   |   |   | 780,147 |   |
|                                                                                          |   |                         |       |   |   |   |   |   |
| CASH - END OF PERIOD                                                                          |   | $                            | 271,764    |   |   | $ | 671,955 |   |
|                                                                                          |   |                         |       |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION                                             |   |                         |       |   |   |   |   |   |
| Stock purchase warrants issued in connection with line of credit and notes payable financings |   | $                            | 363,126    |   |   | $ | - |   |
|   Beneficial conversion feature associated with shareholder notes payable                |   |                         | 23,986     |   |   |   | - |   |
|                                                                                          |   |                         |       |   |   |   |   |   |
| CASH PAID DURING THE PERIOD FOR                                                               |   |                         |       |   |   |   |   |   |
| Interest                                                                                      |   | $                            | 779        |   |   | $ | 628 |   |

----

----

|                     |   | March 31,2011 |    |   | December31, 2010 |   |
|--------------------------|--------|--------------------|---------|--------|-----------------------|--------|
|                     |   |               |    |   |                  |   |
| Furniture and fixtures   |   | $                  | 15,347  |   |                  | $      | 15,347 |   |
| Equipment                |   |               | 23,431  |   |                  |   | 23,431 |   |
|                     |   |               | 38,778  |   |                  |   | 38,778 |   |
| Accumulated depreciation |   |               | (36,713 | )      |                  |   | (36,156 | ) |
|                     |   |               |    |   |                  |   |   |   |
|                     |   | $                  | 2,065   |   |                  | $      | 2,622 |   |

----

|                     |   | March 31,2011 |    |   | December31, 2010 |   |
|--------------------------|--------|--------------------|---------|--------|-----------------------|--------|
|                     |   |               |    |   |                  |   |
| Patents                  |   | $                  | 162,138 |   |                  | $      | 136,342 |   |
| Accumulated amortization |   |               | (22,814 | )      |                  |   | (20,154 | ) |
|                     |   |               | 139,324 |   |                  |   | 116,188 |   |
| Trademarks               |   |               | 9,072   |   |                  |   | 9,072 |   |
|                     |   |               |    |   |                  |   |   |   |
|                     |   | $                  | 148,396 |   |                  | $      | 125,260 |   |

----

|   | · | 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 of  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 – 2.84%; 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. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                      |   | 2011   |   |
|-------------------------------------------|--------|--------|--------|
| Expected Dividend Yield                   |   |   | -      |   |
| Expected Volatility in Stock Price        |   |   | 39     | % |
| Risk-Free Interest Rate                   |   |   | 2.70   | % |
| Expected Life of Stock Awards - Years     |   |   | 6      |   |
| Weighted Average Fair Value at Grant Date |   | $      | 0.29   |   |

|                           |   | Number of |      |   | WeightedAverage |   |
|--------------------------------|--------|----------------|-----------|--------|-----------------|--------|
|                           |   | Options        |      |   | Exercise Price  |   |
|                           |   |           |      |   |            |   |
| Outstanding, December 31, 2010 |   |           | 5,987,500 |   |            | $      | 1.33 |   |
|                           |   |           |      |   |            |   |   |   |
| Granted                        |   |           | 1,150,000 |   |            | $      | 0.68 |   |
|                           |   |           |      |   |            |   |   |   |
| Forfeited                      |   |           | (75,000   | )      |            | $      | 2.00 |   |
|                           |   |           |      |   |            |   |   |   |
| Outstanding, March 31, 2011    |   |           | 7,062,500 |   |            | $      | 0.69 |   |
|                           |   |           |      |   |            |   |   |   |
| Exercisable, March 31, 2011    |   |           | 4,193,333 |   |            | $      | 0.69 |   |

----

|                               |   | 2011   |   |   | 2010   |   |
|------------------------------------|--------|--------|--------|--------|--------|--------|
| Expected Dividend Yield            |   |   | -      |   |   |   | - |   |
| Expected Volatility in Stock Price |   |   | 39     | %      |   |   | 38.42 | % |
| Risk-Free Interest Rate            |   |   | 2.0    | %      |   |   | 2.36 | % |
| Expected Life of Awards, Years     |   |   | 5      |   |   |   | 5 |   |

|                             |   |           |      |   | Weighted Average |   |   |                  |   |   | Weighted Average                   |   |
|----------------------------------|--------|----------------|-----------|--------|-----------------------|--------|--------|-----------------------|--------|--------|------------------------------------|--------|
|                             |   | Number of |      |   | Grant Date            |   |   | Weighted Average |   |   | Remaining                          |   |
|                             |   | Warrants       |      |   | Fair Value            |   |   | Exercise Price        |   |   | Contractual Life (Years) |   |
|                             |   |           |      |   |                  |   |   |                  |   |   |                               |   |
| Outstanding, December 31, 2010   |   |           | 1,727,920 |   |                  |   |   |                  | $      | 1.64   |                               |   |   | 3.86 |   |
|                             |   |           |      |   |                  |   |   |                  |   |   |                               |   |   |   |   |
| Issued in financing transactions |   |           | 710,500   |   |                  |   |   |                  | $      | 0.26   |                               |   |   |   |   |
| Granted                          |   |           | 9,305     |   |                  | $      | 0.24   |                  |   | $      | 0.64                               |   |   |   |   |   |
| Exercised                        |   |           | (7,500    | )      |                  |   |   |                  |   | $      | 0.50                               |   |   |   |   |   |
| Expired                          |   |           | (11,000   | )      |                  |   |   |                  |   | $      | 2.00                               |   |   |   |   |   |
|                             |   |           |      |   |                  |   |   |                  |   |   |                               |   |   |   |   |   |
| Outstanding, March 31, 2011      |   |           | 2,429,225 |   |                  |   |   |                  |   | $      | 1.13                               |   |   |   | 4.96 |   |
|                             |   |           |      |   |                  |   |   |                  |   |   |                               |   |   |   |   |   |
| Exercisable, March 31, 2011      |   |           | 1,933,725 |   |                  |   |   |                  |   | $      | 1.05                               |   |   |   | 3.68 |   |

----

|   | · | The CMA Note is unsecured; |
|--------|--------|----------------------------|

|   | · | No payments of principal are due until the second anniversary of the Note, at which time all outstanding principal is due and payable; and |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The CMA Note is subordinated to the Company’s outstanding $3,000,000 Loan and Security Agreement with Topping Lift Capital LLC. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The Company issued warrants to purchase 2,600,000 shares of the Company’s common stock to the directors at $.45 per share, which was the closing price of the Company’s stock on April 29, 2011, which vest 20% immediately and 10% upon each draw by the Company of $100,000 under the CMA Note. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                       |   | Three Months Ended |      |   |   |   |    |   |   |
|----------------------------|--------|--------------------|-----------|--------|--------|--------|---------|--------|--------|
|                       |   | March 31,          |      |   | $      |   |    | %      |   |
|                       |   | 2011               |      |   | 2010   |   |    | Change |   |   | Change |   |
| OPERATING EXPENSES:        |   |               |      |   |   |   |    |   |   |   |   |   |
| Sales and marketing        |   | $                  | 250,612   |   |   | $      | 188,479 |   |   | $ | 62,134 |   |   |   | 33.0 | % |
| General and administrative |   |               | 790,171   |   |   |   | 466,588 |   |   |   | 323,583 |   |   |   | 69.4 | % |
| Research and development   |   |               | 26,360    |   |   |   | 16,937  |   |   |   | 9,423 |   |   |   | 55.6 | % |
|                       |   | $                  | 1,067,143 |   |   | $      | 672,004 |   |   | $ | 395,139 |   |   |   | 58.8 | % |

----

----

|   | · | 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. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| 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)                     |
|   |   |                                                                                                                                                                                                                                                                                     |
| 4.5    |   | Warrant to Purchase Shares of Common Stock of Vystar Corporation dated March 11, 2011 issued to Topping Lift Capital LLC (incorporated by reference to Vystar’s Current Report on Form 8-K dated March 11, 2011 and filed on March 15, 2011)                                       |
|   |   |                                                                                                                                                                                                                                                                                     |
| 4.6    |   | Form of Warrant issued to Investor note holders (incorporated by reference to Vystar’s Current Report on Form 8-K dated March 11, 2011 and filed on March 15, 2011)                                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                     |
| 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)                                                  |
|         |   |                                                                                                                                                                                                                                                                                                          |
| 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        |   |  $3,000,000 Loan and Security Agreement between Topping Lift Capital LLC dated March 11, 2011 (incorporated by reference to Vystar’s Current Report on Form 8-K dated March 11, 2011 and filed on March 15, 2011)                                                                                  |
|         |   |                                                                                                                                                                                                                                                                                                          |
| 10.16        |   | Validity and Fraud Guaranty from William R. Doyle, Jack W. Callicutt and Matthew P. Clark to Topping Lift Capital LLC dated March 11, 2011 (incorporated by reference to Vystar’s Current Report on Form 8-K dated March 11, 2011 and filed on March 15, 2011)                                          |
|         |   |                                                                                                                                                                                                                                                                                                          |
| 10.17        |   | Intellectual Property Security Agreement between Topping Lift Capital LLC and Vystar Corporation dated March 11, 2011 (incorporated by reference to Vystar’s Current Report on Form 8-K dated March 11, 2011 and filed on March 15, 2011)                                                               |
|         |   |                                                                                                                                                                                                                                                                                                          |
| 10.18        |   | Form of Investor Note (incorporated by reference to Vystar’s Current Report on Form 8-K dated March 11, 2011 and filed on March 15, 2011)                                                                                                                                                               |
|         |   |                                                                                                                                                                                                                                                                                                          |
| 10.19        |   | Promissory Grid Note dated April 29, 2011, in a principal amount of $800,000 from Vystar Corporation to CMA Investments, LLC (incorporated by reference to Vystar’s Current Report on Form 8-K dated April 29, 2011 and filed on May 2, 2011)                                                           |
|         |   |                                                                                                                                                                                                                                                                                                          |
| 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 to 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                                                                                                                       |

----

|                          | VYSTAR CORPORATION |
|-------------------------------|--------------------|
|                          |               |
| Date:  May 16, 2011 | By:                | /s/ William R. Doyle |
|                          |               | William R. Doyle |
|                          |               | Chairman, President, Chief Executive Officer and Director(Principal Executive Officer) |
|                          |               |
| Date: May 16, 2011            |               | /s/ Jack W. Callicutt |
|                          |               | Jack W. Callicutt |
|                          |               | Chief Financial Officer(Principal Financial and Accounting Officer) |

----