Palo Alto, California, Oct. 18, 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 nine-month ended June 30, 2021. The company changed the financial year from September 30 to June 30 ensuring alignment with compulsory June 30 financial year in Australia.
Business Highlights Within the Nine-Month ended June 30, 2021:
Mr. Aleem Sheikh, President and CEO, said, “We are proud of the nine-month driven performance ending June 30, 2021 which is the successful result of focused revenue growth, strategic acquisition and cost control. The ongoing enhancement of sound corporate governance and internal controls continue in line with best practice.
Nine-month Ending June 30, 2021, Financial Results:
| Nine Months Ended June 30, | ||||||||
| 2021 | 2020 | |||||||
| Revenues | $ | 2,244,157 | $ | 1,270,240 | ||||
| Gross Profit | $ | 1,264,681 | $ | 379,544 | ||||
Improved Balance Sheet Results
| June 30, 2021 | September 30, 2020 | |||||||
| Cash | $ | 243,610 | $ | 196,174 | ||||
| Total Assets | $ | 7,157,352 | $ | 4,813,688 | ||||
| Total Liabilities | $ | 3,430,326 | $ | 4,397,956 | ||||
| Total Stockholders’ Equity | $ | 3,727,026 | $ | 415,732 |
Marshini Thulkanam, Chief Financial Officer and Director of Rayont Inc, stated, “We are proud of our 10-K/T performance reflecting increased revenues, total asset portfolio and total stockholders’ equity whilst decreasing our total liabilities. The debt ratio is decreased from 91% that was on September 30, 2020, to 48% as of June 30, 2021.We shall continue to focus on business improvements for this financial year mainly on revenue growth, optimizing operations and increase cash reserves. We shall 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.
Strategies for Growth
During this financial year we plan to undertake several key activities aimed to improve the overall performance of Rayont Inc namely:
- Transfer operations to 32 French Avenue, Brendale, QLD 4500, Australia which would result in 400% increase in production and logistical capacity.
- Seek to acquire revenue and profit producing complementary business to Prema Life Australia. This would improve the utilization of increased capacity.
- Launch Health Script telehealth platform for naturopaths globally with key markets focus Australia and the USA.
- Launch Rayont Coin as global reward platform for our consumers aimed to enhance customer experience and loyalty.
- Start operations of Prema Life USA aimed to grow overall revenues and expand into the USA market.
Mr. Aleem Sheikh, President and CEO, said, “we are continuing to realise our aspiration to be a premier international healthcare company and these activities are designed to achieve revenues in key markets such as Australia and the USA as well as establishing a solid global infrastructure for ongoing growth and scalability”.
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
