Rayont Inc- RAYT- Reports 10-K for the Twelve -Month Ending June 30, 2022, Financial Results.

Rhea-AI Summary

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.

Positive

• Total assets increased to $14,193,235, up from $7,157,352 in 2021.
• Total stockholders’ equity improved to $5,093,612 from $3,727,026.
• Working capital deficit decreased significantly from $1,456,964 to $83,884.

Negative

• Revenue decreased by 4.4% from the previous year.
• Gross profit fell by 21% compared to the prior year.
• Cash reserves declined from $243,610 to $185,782 due to capital investments.

Palo Alto, California, Dec. 29, 2022 (GLOBE NEWSWIRE) -- Rayont Inc. (“Rayont” or the “Company”) (OTC PINK: RAYT), an international personalized natural healthcare company, today reported financial results for the twelve-month ended June 30, 2022.

Business Highlights Within the Twelve-Month ended June 30, 2022:

Ms. Marshini Moodley, CEO and CFO, said, “We recorded a decline in both the revenue and gross profit for the period ended 30 June 2022 compared to same period last year, mainly due to increase in cost of raw materials and lead time of supply chain in Prema Life operations. We also disposed Rayont Technologies operations in Australia and Malaysia resulting in drop of revenues and gross profit.”

Twelve-month Ending June 30, 2022, Financial Results:

		Twelve Months Ended June 30,
		2022				2021
Revenues		$	2,839,357			$	2,969,599
Gross Profit		$	1,382,624			$	1,748,573

Improved Balance Sheet Results

			June 30, 2022				June 30, 2021
Cash		$	185,782			$	243,610
Total Assets		$	14,193,235			$	7,157,352
Total Liabilities		$	9,099,623			$	3,430,326
Total Stockholders’ Equity		$	5,093,612			$	3,727,026

Marshini Moodley added, “Our yearly performance reflecting increased total asset portfolio and total stockholders’ equity. The working capital deficit decreased from $1,456,964 that was on June 30, 2021, to $83,884 as of June 30, 2022. Our cash reserves have decreased due to capital investments and servicing loan interest received to cover different investments done from the Company during the year”.

Strategies for Growth

During this financial year we continue to undertake several key activities aimed to improve the overall performance of Rayont Inc namely:

• Consolidate the operations of Prema Life with that of Tugun Compounding Pharmacy to drive cost reduction and efficiencies across both operations.
• Launch Health Script telehealth platform for naturopaths globally with key markets focus Australia and the USA.
• Continue with smaller acquisitions that can contribute to revenue growth and synergies across the group. We expect that the acquisitions made to date will contribute to significant revenue and profit growth this financial year.
  

These activities are being worked on and we will communicate their completions as we achieve them.

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 personalized natural healthcare industry.

Rayont uses scientific tools such as DNA, microbiome, iridology and other tests to personalize diagnoses, prescription and treatments of natural complementary and alternative medicine products, services and treatments to our patients in the markets we operate.

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

FAQ

What were Rayont Inc.'s financial results for the twelve months ended June 30, 2022?

Rayont Inc. reported revenues of $2,839,357 and a gross profit of $1,382,624 for the twelve months ended June 30, 2022.

Did Rayont Inc. experience any changes in stockholders' equity?

Yes, Rayont Inc.'s total stockholders' equity increased to $5,093,612 as of June 30, 2022, up from $3,727,026 in 2021.

What challenges did Rayont Inc. face in their latest financial results?

Rayont Inc. faced challenges including a decline in revenue and gross profit due to rising raw material costs and the disposal of operations in Australia and Malaysia.

What strategies for growth did Rayont Inc. outline in the recent press release?

Rayont Inc. plans to consolidate operations, launch a telehealth platform, and pursue smaller acquisitions to drive revenue growth.

How has the working capital deficit changed for Rayont Inc.?

The working capital deficit decreased significantly from $1,456,964 on June 30, 2021, to $83,884 on June 30, 2022.