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Rayont Inc. (RAYT), an international personalized natural healthcare company, reported significant financial results for the six months ending December 31, 2022. Revenues increased to $2,788,102, a rise from $1,361,887 in the previous year. Gross profit also grew to $1,686,183 from $671,421, primarily driven by the acquisition of several No More Knots entities. The company improved its working capital from a deficit of $83,884 to a surplus of $1,237,993. However, total assets decreased to $10,257,537 from $14,193,235.
Rayont Inc. (RAYT) reported its financial results for the three months ending September 30, 2022, highlighting a revenue increase of $1,368,677, up from $687,523 in the same period last year. Gross profit also rose to $798,262 from $358,173. The growth is primarily attributed to acquisitions of various businesses. The company's balance sheet showed an improved working capital of $1,730,581 compared to a deficit of $83,884 as of June 30, 2022. However, cash reserves decreased due to capital investments. Rayont plans to consolidate operations and expand its telehealth platform to drive future growth.
Rayont Inc. (RAYT) reported financial results for the year ending June 30, 2022, with revenues of $2,839,357, a decline from $2,969,599 in 2021. The gross profit also fell to $1,382,624 from $1,748,573, attributed to rising raw material costs and operational changes following the divestiture of Rayont Technologies in Australia and Malaysia. Despite these declines, total assets increased to $14,193,235, and total stockholders’ equity rose to $5,093,612. Management is focusing on consolidating operations and launching a telehealth platform to drive future growth.
Palo Alto, California, Aug. 23, 2022 – Rayont Inc. (OTC PINK: RAYT) has acquired The Skin DNA Company for AUD 750K (approximately USD 500K), issuing 1,524,044 shares to complete the transaction. This acquisition enhances Rayont's portfolio in personalized natural healthcare, allowing access to SkinDNA's advanced skin DNA testing technology, which has been in development since 2008. SkinDNA's technology focuses on providing consumers with insights to slow aging based on genetic information, reinforcing Rayont's mission in alternative medicine.
Rayont Inc. (RAYT) announced the signing of an Asset Sale Agreement on June 29, 2022, for the sale of its Next Generation Photo Dynamic Therapy license and equipment for Sub-Sahara Africa. The total consideration for the sale amounts to USD 3.5 million, consisting of USD 2.5 million for the license and USD 1 million for the equipment. This strategic move follows the earlier sale of Rayont Technologies and aims to enhance the company's liquidity and focus on profit-generating assets in the complementary alternative medicine segment.
Rayont Inc. (RAYT) announced the appointment of Ms. Ilenna Copley as Chief Operating Officer on May 16, 2022. With over 20 years of experience, Ms. Copley brings expertise in legal and commercial advisory, particularly in managing multiple initiatives across diverse sectors including healthcare, technology, and finance. Her role will encompass overseeing business operations and strategy as well as corporate governance. Rayont aims to expand its operations into new markets and continues to focus on manufacturing and distributing alternative medicine products.
Rayont Inc. (RAYT) reported financial results for the nine months ending March 31, 2022, highlighting a revenue decline to $1,826,585 from $2,147,704 in 2021, and a gross profit drop to $826,679 from $1,282,589. The decrease was attributed to rising raw material costs and supply chain challenges. The company also disposed of its Rayont Technologies operations in Australia and Malaysia, impacting revenues. Despite cash reserves decreasing, total stockholders' equity rose to $4,555,902, and strategies for growth include launching a telehealth platform and a reward system.
Rayont Inc. (RAYT) announced significant changes to its board of directors on April 20, 2022. Following the resignations of directors Reyad Fezzani and Leilani Latimer, three Independent Directors—Mark Van Wyk, Thea Dillon, and Jason Sunstein—were appointed to strengthen the board's expertise. Ms. Dhurata Toli was also promoted to Executive Director while retaining her role as Secretary. The company aims to leverage the new directors' extensive backgrounds to enhance shareholder value and support its strategic priorities in the alternative medicine sector.
Rayont Inc. (RAYT) announced the completion of its acquisition of the No More Knots Group on March 18, 2022, for AUD 3.0M (approx. USD 2.2M). This strategic acquisition, executed through its subsidiary No More Knots Holdings Pty Ltd, involves purchasing 100% of the shares of three entities within the No More Knots Group. The transaction is structured in two tranches, with the first payment of USD 1.8M due by April 1, 2022. This move is expected to enhance Rayont's offerings in alternative medicine and solidify its position within the market.
Rayont Inc. (RAYT) reported its financial results for the six months ending December 31, 2021, highlighting a revenue increase of 13.8% to $1,361,887 compared to $1,196,240 in the previous year. Gross profit rose to $690,466 from $524,790, reflecting improved operational efficiency. The company's total assets also increased to $7,955,972, with total stockholders’ equity climbing to $4,348,673. However, cash reserves decreased due to capital investments. The company is focused on expansion through acquisitions and launching new platforms.
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