Palo Alto, California, May 17, 2021 (GLOBE NEWSWIRE) -- Rayont Inc. (“Rayont” or the “Company”) (OTC PINK: RAYT), an international healthcare company specializing in the manufacturing of alternative medicine products and services across the entire value chain, today reported financial results for the six-month ended March 31, 2021.
Business Highlights Within the Quarter:
- The appointment of Mr. Reyad Fezzani as non-executive director and Chairperson of its Board of Directors.
- The appointment of Mr. Aleem Sheikh as President and CEO.
Haydn Erbs, Director of Corporate Development and Strategy, said, “The quarter ended March 31, 2021 included the ongoing enhancement of sound corporate governance and internal controls in line with best practice. We have separated the CFO function and CEO role to ensure focused performance delivery and providing greater confidence to shareholders and the investment community”.
Six-month Ending March 31, 2021 Financial Results:
| Six Months Ended March 31, | ||||||||
| 2021 | 2020 | |||||||
| Revenues | $ | 1,409,542 | $ | 844,682 | ||||
| Net Income | $ | 792,054 | $ | 357,064 | ||||
Improved Balance Sheet Results
| March 31, 2021 | September 30, 2020 | |||||||
| Cash | $ | 79,412 | $ | 196,174 | ||||
| Total Assets | $ | 5,480,081 | $ | 4,813,688 | ||||
| Total Liabilities | $ | 1,605,757 | $ | 4,397,956 |
Aleem Sheikh, President and CEO of Rayont Inc, stated, “We are proud of our March quarter performance reflecting increased revenues and total asset portfolio whilst decreasing our total liabilities. We are continuing our business focus on revenue growth, optimizing operations and increased cash reserves. We are confident in our future and will continue to make significant investments to support our growth strategy in line with our long-term plans, deliver shareholder value and enrich our customers lives”.
About Rayont Inc.
Rayont, Inc. (RAYT) is a public traded company incorporated in Nevada, USA since its inception in 2011. In 2018, the Company repositioned itself to focus on healthcare including the manufacturing of alternative medicine products and services across the entire value chain.
Longer term, it has also invested in a groundbreaking cancer treatment technology through an exclusive license arrangement for the Sub-Saharan African territories.
Headquartered in Australia with expanding operations internationally, Rayont`s purpose is “Making Natural Products to Improve People`s Health”. We do this by investing in early research and development, establishing high quality manufacturing assets for regional distribution and operating across the alternative medicine value chain.
Our underlying strategy is to grow organically, selectively acquire, scale profitable assets and improve efficiency through digitalization.
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