Queensland, Australia, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Rayont Inc. (“Rayont” or the “Company”) (OTC PINK: RAYT), a rapid growth company focused on biotechnology, education and technology industries globally, today reported financial results for the twelve-months ended September 30, 2020.
2020 Business Highlights:
The focus of 2020 financial year was to complete the acquisition of the cancer-treatment technology license so that the company it is able to start commercializing it within the licensed territories. Given the life cycle of Next Generation Photo Dynamic Therapy (NGPDT) technology, the state of medical trials in territories like Australia and China and the COVID-19 pandemic, there is a need for revenue generation in the near term. Therefore, the company have decided to venture into the fast-growing remote education segment as business and education institutions surge toward online education in the wake of the global events of 2020. The main achievements for this financial year are:
- Acquisition of Rayont International (L) Limited, a Malaysian clinical-stage life sciences company which holds the exclusive license for registering and commercializing PhotosoftTM technology for the treatment of all cancers across Sub-Sahara African region.
- Acquisition the assets of Workstar Tech (Aust) Pty Ltd which focuses on offering remote learning solutions artificial intelligence (AI), augmented reality (AR), end-to-end employee engagement platforms, and cloud-based platform technologies.
“The current financial year has been a significant achievement as Rayont Inc. has completed the acquisition of cancer treatment assets; We have acquired revenue generating assets that will have a positive impact on the revenues and profitability of the company for the next financial year. “stated Marshini Thulkanam, the President and CEO of the Company.
2020 Financial Results:
| Twelve Months Ended September 30, | ||||||||
| 2020 | 2019 | |||||||
| Total assets | $ | 3,259,621 | $ | 1,189,952 | ||||
| Total liabilities | $ | 2,337,102 | $ | 203,797 | ||||
| Revenues | $ | 186,663 | — | |||||
| Net Income | $ | (229,445 | ) | $ | (2,302,463 | ) | ||
Marshini Thulkanam said “I am pleased with performance during this financial year. The focus for the upcoming year is to rapidly grow the digital content revenues and start the clinical trials of cancer treatment in at least one territory during the 2020-2021 financial year.”
Growth Strategies
Rayont Inc. focus for the current financial year is to grow current assets organically by increasing revenues and achieving cost reduction across all the operating entities. The company is looking to grow by acquiring profitable operating companies within biotechnology, technology and education portfolios. “We are in constant look for profitable acquisitions” stated Marshini Thulkanam.
About Rayont Inc.
Rayont Inc. is a Nevada based company incorporated since 2011. As a rapid growth company, Rayont focuses on biotechnology, education and technology industries globally. The Company has made significant investments in biotechnology or life sciences sector by acquiring assets to operate cancer treatment technologies.
Post COVID-19 pandemic in addition to having plans to grow its biotechnology portfolio by identifying, acquiring and integrating other assets within the healthcare area, the company has ventured in technology and education assets that offer remote learning solutions artificial intelligence (AI), augmented reality (AR), end-to-end employee engagement platforms, and cloud-based platform technologies.
For further information, please visit www.rayont.com
SAFE HARBOR
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
Company Contact:
Investor Relations
ir@rayont.com