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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~March~~September 3130, 2022

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to _________

SEC File No. 000-56020

RAYONT INC.

(Exact name of registrant as specified in its charter)

Nevada		27-5159463
(State or other jurisdiction		(IRS I.D.)
of incorporation or organization)

228 Hamilton Avenue, 3rd Floor, Palo Alto,

California, 94301

(Address of principal executive offices)

Issuer’s telephone number: 1 (855) 801-9792

(Former name, former address and telephone number, if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Smaller Reporting Company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act: None

Title of each class		Trading Symbol(s)		Name of each exchange on which registered

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of ~~May~~January 1617, ~~2022~~2023, there were 4850,~~083~~163,~~356~~797 shares issued and outstanding of the registrant’s common stock.

TABLE OF CONTENTS

		PAGE
	PART I. FINANCIAL INFORMATION
Item 1	Unaudited Consolidated Financial Statements	F-1
Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	3
Item 3	Quantitative and Qualitative Disclosures About Market Risk	810
Item 4	Controls and Procedures	810
	PART II. OTHER INFORMATION
Item 1	Legal Proceedings	911
Item 1A	Risk Factors	911
Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	911
Item 3	Defaults Upon Senior Securities	911
Item 4	Mine Safety Disclosures	911
Item 5	Other Information	911
Item 6	Exhibits	912

RAYONT INC. AND SUBSIDIARY

Unaudited Consolidated Financial Statements

For the ~~NINE AND~~ three months ended ~~MARCH~~September 3130, 2022 and 2021

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Balance Sheets (unaudited)	F-2

Consolidated Statements of Operations and Comprehensive Income / (Loss) (unaudited)	F-3

Consolidated Statements of Stockholders’ Equity (unaudited)	F-4

Consolidated Statements of Cash Flows (unaudited)	F-5

Notes to Consolidated Financial Statements (unaudited)	F-6

F-1

RAYONT INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

	March 31,			June 30,
		September 30,			June 30,
	2022			~~2021~~2022
	(Unaudited)			(Audited)
	(Anudited)			(Audited)
ASSETS
Current Assets:
Cash and cash equivalents	$	3728,~~845~~921		$	~~243~~185,~~610~~782
Accounts receivables		~~260~~214,~~403~~478			~~534~~172,~~525~~705
Inventories		~~422~~475,~~806~~402			~~500~~512,~~165~~053
Prepaid expense		537,~~399~~586			2381,~~933~~008
Due from related parties		~~86,782~~-			1566,~~881~~016
Other receivables		~~133~~3,~~473~~051,472			~~453~~2,~~250~~765,829
Total Current Assets		~~994~~3,~~708~~777,859			13,~~771~~783,~~364~~393
Non-Current Assets:
Property and equipment, net		4512,~~940,620~~409			36,~~140~~241,~~757~~049
Intangible assets		1307,~~499,998~~416			~~2,245,231~~-
Other Assets		816,226			-
Other receivables		938,485			1,009,537
Total Non-Current Assets		7,256,844			5,385,988
Goodwill		2,271,300			1,866,708
TOTAL ASSETS	$	8,251,552		$	7,157,352
Right of use asset		455,023			524,892
Other assets		717,912			767,656
Total Non-Current Assets		5,202,545			10,409,842
TOTAL ASSETS	$	8,980,404		$	14,193,235
LIABILITIES AND STOOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	~~294~~174,~~976~~620		$	99384,~~615~~355
Accrued liabilities		~~299~~599,~~689~~444			~~472~~470,~~021~~689
Due to related parties		28,~~599~~238			~~387~~128,~~238~~677
Loan payable		2568,~~840,360~~488			2,~~051~~481,~~554~~440
Finance lease payable		~~8,366~~-			810,~~188~~983
Other payables		22,740			209,712
Operating lease liabilities		94,831			112,333
Total Current Liabilities		3,494,730			3,228,328
Other payables		581,657			278,800
Total Current Liabilities		2,047,278			3,867,277
Non-Current Liabilities:
Finance lease payable		~~13,443~~-			197,~~669~~812
Loan payable		187,477			182,329
Operating lease liabilities		360,191			412,559
Total Non-Current Liabilities		200,920			201,998
Loan payable		271,284			4,811,975
TOTAL LIABILITIES	$	3,695,650		$	3,430,326
Total Non-Current Liabilities		631,475			5,232,346
COMMITMENTS AND CONTNGENCIES
TOTAL LIABILITIES	$	2,678,754		$	9,099,623
COMMITMENTS AND CONTNGENCIES		-
Stockholders’ Equity:
Common stock, $0.001 par value; 500,000,000 shares authorized; 48,083,356 and 46,783,369 shares issued and outstanding as of March 31, 2022 and June 30, 2021, respectively	$	48,083		$	46,784
Common stock, $0.001 par value; 500,000,000 shares authorized; 50,163,797 and 48,094,606 shares issued and outstanding as of September 30, 2022 and June 30, 2022, respectively	$	50,164		$	48,095
Preferred stock, $0.001 par value; 20,000,000 shares authorized; nil share issued and outstanding		-			-
Additional paid-in capital		89,~~932~~637,~~975~~052			68,~~996~~939,~~198~~829
Shares to be issued		-			618,320
Reserve		(4,670	)		-
Accumulated deficit		(43,~~446~~133,~~944~~435	)		(3,~~912~~634,~~404~~943	)
Accumulated other comprehensive income (loss)		21,788			(21,872	)
Accumulated other comprehensive loss		(247,461	)		(259,369	)
TOTAL STOCKHOLDERS’ EQUITY		46,~~555~~301,~~902~~650			35,~~727~~093,~~026~~612
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	8,~~251~~980,~~552~~404		$	714,~~157~~193,~~352~~235

The accompanying notes are an integral part of these consolidated financial statements.

F-2

RAYONT INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME / (LOSS)

(Unaudited)

	Three Months Ended						Nine Months Ended
	September 30, 2022			September 30, 2021
	March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021
	Three Months Ended
Revenue	$	464,698		$	951,464		$	1,826,585		$	2,147,704
	September 30, 2022			September 30, 2021
Cost of Revenue		(309,440	)		(340,325	)		(999,906	)		(865,115	)
Revenue	$	1,368,677		$	687,523
Gross profit		155,258			611,139			826,679			1,282,589
Cost of Revenue		(570,415	)		(329,350	)
Operating expenses:
Gross profit		798,262			358,173
Selling, general and administrative expenses		315,130			527,487			1,223,124			1,302,253
Operating expenses:
Depreciation and amortization expense		120,023			48,297			349,921			121,853
Selling, general and administrative expenses		1,037,950			452,682
Total Operating Expenses		435,153			575,784			1,573,045			1,424,106
Depreciation and amortization expense		9,599			125,309
Operating (Loss) / Income		(279,895	)		35,355			(746,366	)		(141,517	)
Total operating expenses		1,047,549			577,991
Other (expense) / income:
Operating Loss		(249,287	)		(219,818	)
Interest income		-			-			-			5,547
Other (expense) / income:
Interest expense		(153,775	)		(13,113	)		(302,494	)		(37,047	)
Interest income		69,394			-
Other income, net		514,320			125,401			514,320			782,545
Interest expense		(185,546	)		(47,291	)
Total other income		360,545			112,288			211,826			751,045
Other income, net		866,947			-
Income / (Loss) before income taxes		80,650			147,643			(534,540	)		609,528
Total other income / (expense)		750,795			(47,291	)
Income tax expense		-			-			-			-
Income / loss before income taxes		501,508			(267,109	)
Net income / (loss)		80,650			147,643		$	(534,540	)	$	609,528
Income tax expense		-			-
Other comprehensive items
Net income / (loss)	$	501,508		$	(267,109	)
Foreign currency translation gain / (loss)		100,329			(25,351	)		43,660			3,910
Other comprehensive items
Total other comprehensive gain / (loss)		100,329			(25,351	)		43,660			3,910
Foreign currency translation gain / (loss)		11,908			(69,133	)
Total comprehensive income / (loss)		180,979			122,292			(490,880	)		613,438
Total other comprehensive gain / (loss)		11,908			(69,133	)
Less: comprehensive income attributable to noncontrolling interest		-			-			-			-
Total comprehensive income / (loss)		513,416			(336,242	)
Total Comprehensive income / (loss) attributable to shareholders of the Company	$	180,979		$	122,292		$	(490,880	)	$	613,438
Less: comprehensive income attributable to noncontrolling interest		-			-
Weighted average shares, basic and diluted		48,069,467			46,734,131			47,832,721			34,776,796
Total Comprehensive income / (loss) attributable to shareholders of the Company	$	513,416		$	(336,242	)
Net (loss) / earnings per common share, basic and diluted	$	0.00		$	0.00		$	(0.01	)	$	0.02
Weighted average shares, basic and diluted		48,912,507			47,401,998
Net earnings / (loss) per common share, basic and diluted	$	0.01		$	(0.01	)

The accompanying notes are an integral part of these consolidated financial statements.

F-3

RAYONT INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

	Common Stock				Additional Paid-In			Stock Subscriptions			Stock To Be			Accumulated			Accumulated Other Comprehensive
																	Accumulated
	Shares		Amount		Capital			Receivable			Issued			Deficit			Income / (Loss)			Total
	Common Stock				Additional Paid-In			Stock To Be						Accumulated			Other Comprehensive
For the three and nine months ended March 31, 2021
	Shares		Amount		Capital			Issued			Reserve			Deficit			Income / (Loss)			Total
Balance as of June 30, 2020		13,157,532		13,158		4,270,513			-			-			(4,263,685	)		(24,815	)		(4,829	)
For the three months ended September 30, 2021
Stock to be issued for business acquisition of a subsidiary under common control		25,714,286		25,714		48,670			-			-			-			-			74,384
Balance as of June 30, 2021		46,783,369		46,784		6,996,198			618,320			-			(3,912,404	)		(21,872	)		3,727,026
Adjustments to additional paid in capital from acquisitions		-		-		(22,659	)		-			-			-			-			(22,659	)
Common Stock issued for business acquisition of a subsidiary under common control		710,713		710		617,610			(618,320	)		-			-			-			-
Common Stock issued for cash		7,823,052		7,823		571,922			(72,774	)		-			-			-			506,971
Stock issued for acquisition of a property		515,771		516		1,158,524			-			-			-			-			1,159,040
Debt forgiveness		-		-		2,000,000			-			-			-			-			2,000,000
Foreign currency translation loss		-		-		-			-			-			-			(69,133	)		(69,133	)
Foreign currency translation gain		-		-		-			-			-			-			29,261			29,261
Net income for the three months ended September 30, 2021		-		-		-			-			-			(267,109	)		-			(267,109	)
Net income for the six months ended December 31, 2020		-		-		-			-			-			461,885			-			461,885
Balance as of September 30, 2021		48,009,853		48,010		8,772,332			-			-			(4,179,513	)		(91,005	)		4,549,824
Balance as of December 31, 2020		46,694,870		46,695		6,868,446			(72,774	)		-			(3,801,800	)		4,446			3,045,013
For the three months ended September 30, 2022
Common Stock issued for cash		60,145		60		72,332			-			-			-			-			72,392
Balance as of June 30, 2022		48,094,606		48,095		8,939,829			-			-			(3,634,943	)		(259,369	)		5,093,612
Common Stock issued for business acquisition of a subsidiary under common control		-		-		-			-			618,320			-			-			618,320
Common Stock issued for acquisition of assets		545,147		545		184,805			-			-			-			-			185,350
Debt forgiveness		-		-		16,363			-			-			-			-			16,363
Common Stock issued as a prepayments for business acquisition		1,524,044		1,524		516,651			-			-			-			-			518,175
Foreign currency translation loss		-		-		-			-			-			-			(25,351	)		(25,351	)
Adjustements of additional paid-in capital		-		-		(4,233	)		-			-			-			-			(4,233	)
Net income for the three months ended March 31, 2021		-		-		-			-			-			147,643			-			147,643
Reserve		-		-		-			-			(4,670	)		-			-			(4,670	)
Balance as of March 31, 2021		46,755,015		46,755		6,957,141			(72,774	)		618,320			(3,654,157	)		(20,905	)		3,874,380
Foreign currency translation loss		-		-		-			-			-			-			11,908			11,908
For the three and nine months ended March 31, 2022
Net income for the three months ended September 30, 2022		-		-		-			-			-			501,508			-			501,508
Balance as of June 30, 2021		46,783,369		46,784		6,996,198			-			618,320			(3,912,404	)		(21,872	)		3,727,026
Balance as of September 30, 2022		50,163,797		50,164		9,637,052			-			(4,670	)		(3,133,435	)		(247,461	)		6,301,650
Common Stock issued for business acquisition of a subsidiary under common control		710,713		710		617,610			-			(618,320	)		-			-			-
Common Stock issued for acquisition of a property		515,771		516		1,158,524			-			-			-			-			1,159,040
Common Stock issued for services		10,500		10		26,240			-			-			-			-			26,250
Common Stock issued for cash		49,114		49		108,167			-			-			-			-			108,216
Foreign currency translation loss		-		-		-			-			-			-			(56,669	)		(56,669	)
Net loss for the six months ended December 30, 2021		-		-		-			-			-			(615,190	)		-			(615,190	)
Balance as of December 31, 2021		48,069,467		48,069		8,906,739			-			-			(4,527,594	)		(78,541	)		4,348,673
Common Stock issued for services		13,889		14		26,236			-			-			-			-			26,250
Foreign currency translation gain		-		-		-			-			-			-			100,329			100,329
Net income for the three months ended March 31, 2022		-		-		-			-			-			80,650			-			80,650
Balance as of March 31, 2022		48,083,356		48,083		8,932,975			-			-			(4,446,944	)		21,788			4,555,902

The accompanying notes are an integral part of these consolidated financial statements.

F-4

RAYONT INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the nine months ended March 31, 2022			Restated For the nine months ended March 31, 2021
	For the three months ended September 30, 2022			For the three months ended September 30, 2021
Operating Activities:
Net (loss) / income	$	(534,540	)	$	609,528
Net income / (loss)	$	501,508		$	(267,109	)
Adjustments to reconcile net income / (loss) to net cash provided by operating activities:
Non-cash portion of share based compensation for service		52,500			-
Depreciation and amortization expense		9,599			125,309
Depreciation and amortization expense		349,921			121,853
Gain on Disposal of Investments		(70,392	)		-
Gain on disposal of investment in subsidiaries		(312,143	)		-
Debt waiver by payable		(93,713	)		-
Gain on purchase of assets		-			(242,934	)
Debt waiver by payable		(118,450	)		-
Changes in operating assets and liabilities:
Accounts receivable		~~266~~(116,~~761~~666	)		(~~552~~102,~~881~~986	)
Inventories		75,409			(195,803	)
Inventory		2,061			13,061
Accounts payable		~~189~~(194,~~939~~872	)		8072,~~374~~003
Accrued liabilities		~~(165~~155,~~884~~609	)		17,~~673~~291
Prepaid expense		~~(28~~6,~~640~~713	)		(264,~~001~~073	)
Advance to officer		-			2,206
Other assets		(2,430	)		(4,874	)
Other assets		(41,148	)		47
Other receivables		23,100			185,692
Other receivables		338,533			76,141
Other payable		19,457			64,794
Other payables		200,478			22,327
Net cash used in operating activities		239,974			89,108
Net cash provided by (used in) operating activities		272,736			(103,470	)
Investing Activities:
Cash from acquisition		-			1,082
Acquisition of subsidiaries, net of cash and cash equivalents		(106,424	)		-
Purchases of intangible assets		(~~189~~329,~~511~~457	)		(~~105~~111,~~000~~609	)
Purchases of property and equipment		(~~685~~72,~~259~~564	)		(68113,~~779~~624	)
Net cash used in investing activities		(~~874~~508,~~770~~445	)		(~~172~~225,~~697~~233	)
Financing Activities:
Repayment to related party		(~~418~~32,~~697~~018	)		(~~494~~20,~~961~~827	)
Proceeds from loan payable		~~765~~132,~~362~~813			294,~~334~~693
Issuance of common stock		108,216			579,363
Net cash provided by financing activities		100,795			(16,134	)
Adjustment in additional paid in capital		-			(24,450	)
EFFECT OF EXCHANGE RATE ON CASH		10,815			(6,887	)
Net cash provided by financing activities		454,881			89,286
Net decrease in cash and cash equivalents		(156,861	)		(159,146	)
EFFECT OF EXCHANGE RATE ON CASH		(58,612	)		22,071
Cash and cash equivalents at beginning of the period		185,782			243,610
Net decrease in cash and cash equivalents		(205,765	)		(164,810	)
Cash and cash equivalents at end of the period	$	28,921		$	84,464
Cash and cash equivalents at beginning of the period		243,610			256,014
Cash and cash equivalents at end of the period	$	37,845		$	91,204
SUPPLEMENTAL DISCLOSURE:
Interest paid	$	~~121~~180,~~339~~050		$	371,~~047~~598
Income tax paid	$	-		$	-
SUPPLEMENTAL DISCLOSURE FOR NONCASH INVESTING AND FINANCING ACITIVIES:
SUPPLEMENTAL DISCLOSURE FOR NONCASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock for business acquisitions	$	618,320		$	74,384
Issuance of common stock for Business acquisitions	$	518,175		$	618,320
Issuance of common stock for acquisition of a property	$	1,159,040		$	-
Common Stock issued for acquisition of property and equipment, net	$	185,350		$	1,159,040
Issuance of common stock for compensation of services	$	52,500			-
Forgiveness of debt	$	-		$	2,016,363

The accompanying notes are an integral part of these consolidated financial statements.

F-5

RAYONT INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1 - ORGANIZATION AND BUSINESS DESCRIPTION

Rayont Inc. (~~the~~formerly Velt International Group Inc., or “~~Company~~Rayont” or the “~~Rayont~~Company”) is a Nevada corporation formed on February 7, 2011. Rayont ~~Inc.~~uses isscientific atools ~~private equity~~such ~~company~~as inDNA, ~~areas~~microbiome, ofiridology ~~biotechnology~~and other tests to diagnose and ~~internet~~personalize the prescription of ~~things~~natural ~~(IOT)~~complementary medicine products, services and treatments to our patients in the markets we operate.

Given the acquisition of ~~Rayont Australia Pty Ltd (formerly known as “~~THF Holdings Pty Ltd”) and Rayont International (Labuan) Inc as well as the cancer treatment assets that the Company has invested on, Rayont has been focusing on commercializing these investments. The commercialization of the current assets for cancer treatment requires medical board approval for almost all of the countries subject to the license. Rayont has conducted the initial study to identify the requirements for obtaining the approvals for using PDT to treat cancer across different jurisdictions in Sub-Saharan Africa (“SSA”). The same PDT technology has been licensed in China, Australia, ~~Malaysia~~ and New Zealand. It is currently undergoing medical trials in Australia and China. The recent announcements show positive results that the technology works. The Company believes that it will take time before it can start commercializing these assets and start to generate revenues and operating profits. THF Holdings Pty Ltd has subsequently changed name to Rayont (Australia) Pty Ltd,

On August 26, 2020, the Company established Rayont Technologies Pty Ltd. (“Rayont Technologies”) through Rayont Australia. Rayont ~~Technologies~~ Technologies is an Australian corporation and IOT providing services such as end-to-end employee engagement and experience platform for ~~businesses~~ businesses in Australia and globally. ~~Rayont Technologies engages in providing customized digital learning based on real-life and practical situations and e-learning programs.~~

~~In order to cope with rapid growth~~ Rayont Technologies Pty Ltd entered an agreement on October 15, 2020 with Ms. Kayla Ranee Smith to purchase the assets of Workstar Tech (Aust) Pty Ltd for ~~USD215,017.19~~AUD ~~(AUD302~~302,876.22) payable over 90 days upon Ms. Smith ~~transferring~~transfers the assets to Rayont Technologies Pty Ltd. ~~The~~Rayont ~~Company~~Technologies Pty ~~has~~Ltd ~~already~~was ~~paid~~sold ~~the~~in ~~payable~~January ~~amount~~31, ~~for this purchase~~2022. ~~The assets that Rayont Technologies acquired under the agreement are:~~

1On December 23, 2020, Rayont Australia Pty Ltd, a wholly-owned subsidiary of Rayont Inc. (the “Company”), acquired all of the ~~Trademark~~issued and outstanding capital stock of Prema Life Pty Ltd, an Australian company (“Prema Life”), from TheAlikasa (Australia) Pty Ltd, Prema Life’s sole shareholder. The acquisition of Prema Life was completed, and Prema Life became a subsidiary of the Company. Prema Life is a HACCP certified manufacturer and supplier of functional foods and supplements, and of practitioner only naturopathic and homeopathic medicines. Prema Life produces an extensive range of products including proteins, green blends, sports nutrition, weight management and maintenance, and health and wellness products. In addition, the acquisition was accounted for business combination under common control. The method of accounting for such transfers, as well as the acquisition of businesses, was similar to the pooling of interest’s method of accounting. Under this method, the carrying amount of net assets recognized in the balance sheets of each combining entity are carried forward to the balance sheet of the combined entity. The amount by which the proceeds paid by the Company differs from Prema Life’s historical carrying value of the acquired business is accounted for as a return of capital or contribution of capital. In addition, transfers of net assets between entities under common control were accounted for as if the transfer occurred from the date that the Company and the acquired business were both under the common control and had begun operations. Prema Life Pty Ltd was sold on September 1, 2022.

2. Website

3. Software

4. Office Assets

5. Customer Contracts

On December 23, 2020, Rayont Australia Pty Ltd, a wholly-owned subsidiary of Rayont Inc. , acquired all of the issued and outstanding capital stock of Prema Life Pty Ltd, an Australian company (“Prema Life”), from TheAlikasa (Australia) Pty Ltd, Prema Life’s sole shareholder. The acquisition of Prema Life was completed, and Prema Life became a subsidiary of the Company. Prema Life is a HACCP certified manufacturer and supplier of functional foods and supplements, and of practitioner only naturopathic and homeopathic medicines. Prema Life produces an extensive range of products including proteins, green blends, sports nutrition, weight management and maintenance, and health and wellness products.

On December 23, 2020, pursuant to an Acquisition Agreement, Rayont Australia Pty Ltd, a wholly-owned subsidiary of Rayont Inc., acquired all of the issued and outstanding capital stock of GGLG Properties Pty LTD, an Australian company (“GGLG”), from TheAlikasa (Australia) Pty Ltd, GGLG’s sole shareholder (the “Seller”). The Seller is an affiliate of the Company and therefore the acquisition is being treated as a related party transaction. The purchase price is $605,920, which is a 10% discount of the total amount of GGLG’s net tangible assets. The purchase price will be paid in six installments after a $265,300 down payment. In the event an installment payment is not paid timely, the Seller has agreed to accept shares of the Company valued at $0.87 per share. The price per share is based on a 20% discount of the average share price on the OTC Markets over the last 30 trading days.

On February 18, 2021 the Foreign Investment Review Board approved the capital stock transferring of GGLG Properties Pty Ltd to the Rayont Australia Pty Ltd. On March 9, 2021, the parties agreed to amend the acquisition agreements for the GGLG Properties Pty Ltd and as per Board Resolution, the Company issued 710,713 shares of its common stocks in leu of payment by Rayont Australia Pty Ltd of approximately $605,920 (AUD 800,000) to TheAlikasa Pty Ltd as full and final payment for the acquisition of 100% of the issued and outstanding common stock of GGLG.

F-6

~~GGLG~~On ~~Properties~~December 23, 2020, pursuant to an Acquisition Agreement, Rayont Australia Pty Ltd, is a ~~special~~wholly-owned ~~purpose~~subsidiary ~~company~~of toRayont ~~hold~~Inc. (the ~~property~~“Company”), acquired ~~asset~~all of ~~Rayont~~the issued and outstanding capital stock of GGLG Properties Pty LTD, an Australian company (“GGLG”), from TheAlikasa (Australia) Pty Ltd., ~~Until~~GGLG’s sole shareholder (the 28“Seller”). ~~June~~The ~~2021,~~Seller ~~GGLG~~is an affiliate of the Company and ~~Properties~~therefore ~~Pty~~the ~~Ltd~~acquisition ~~owned~~is being treated as a related party transaction. In addition, the ~~property~~acquisition ~~located~~was ataccounted 11for ~~Aldinga~~business ~~Street~~combination under common control. The method of accounting for such transfers, ~~Brendale~~as well as the acquisition of businesses, ~~4500~~was ~~QLD~~similar to the pooling of interest’s method of accounting. Under this method, ~~Australia~~the ~~which~~carrying isamount of net assets recognized in the ~~facility~~balance ~~where~~sheets ~~Prema~~of ~~Life~~each ~~Pty~~combining ~~Ltd~~entity ~~operates.~~are ~~With~~carried forward to the ~~sale~~balance sheet of ~~property,~~the combined entity. The amount by which the proceeds paid by the Company differs from GGLG ~~Properties~~‘s ~~Pty~~historical ~~Ltd~~carrying ~~has~~value noof ~~real~~the acquired business is accounted for as a return of capital or contribution of capital. In addition, transfers of net assets between entities under common control were accounted for as if the transfer occurred from the date that the Company and the acquired business were both under the common control and had begun operations. ~~hence~~The purchase price is $605,920, itwhich is a 10% discount of the total amount of GGLG’s net tangible assets. The purchase price will be paid in six installments after a $265,300 down payment. In the event an installment payment is not paid timely, the Seller has agreed to ~~reinvent~~accept ~~itself~~shares ~~and~~of ~~select~~the Company valued at $0.87 per share. The price per share is based on a ~~business~~20% ~~activity~~discount toof ~~focus~~the average share price on the OTC Markets over the last 30 trading days.

On ~~December~~February 2918, ~~2020,~~2021 the ~~Company~~Foreign ~~incorporated~~Investment ~~Rayont~~Review ~~Malaysia~~Board ~~Sdn~~approved ~~Bhd~~the ~~with~~capital astock ~~paid-up~~transferring ~~capital~~ of ~~$25 and~~GGLG onProperties ~~December~~Pty ~~31,~~Ltd ~~2020~~to ~~was~~the ~~incorporated~~ Rayont ~~Technologies~~Australia ~~(M)~~Pty ~~Sdn~~Ltd. ~~Bhd~~On ~~with~~March a9, ~~paid-up~~2021, ~~capital~~the ofparties ~~$25 from~~agreed ~~Rayont Malaysia Sdn Bhd~~ to ~~carry~~amend ~~out~~the ~~its business~~acquisition ~~activities~~agreements infor ~~Malaysia.~~the OnGGLG ~~February~~Properties ~~5, 2021 Rayont Technologies (M)~~ Pty Ltd ~~entered~~and ~~into~~as anper Board ~~Asset~~Resolution, ~~Purchase~~the ~~Agreement~~Company ~~with~~issued ~~Sage Interactive~~710,713 ~~Sdn~~shares ~~Bhd~~of ~~to purchase~~ its ~~assets~~common stocks in ~~consideration~~leu of ~~the~~ payment ofby ~~USD~~Rayont ~~105,000.00. These~~Australia ~~assets~~Pty ~~include~~Ltd ~~software~~of ~~for~~approximately $605,920 ~~remote~~(AUD ~~learning~~800,000) ~~customer~~to ~~contracts,~~TheAlikasa ~~digital~~Pty ~~content.~~Ltd ~~These~~as ~~assets~~full ~~will~~and ~~operate~~final inpayment ~~Malaysia~~for ~~under~~the ~~Workstar trademark~~acquisition ~~and~~of ~~operation~~100% ~~shall~~of bethe ~~integrated~~issued ~~with~~and ~~Rayont~~outstanding ~~Technologies~~common stock ~~Australia~~of toGGLG. ~~drive~~This ~~efficiency~~company ~~and~~was ~~scale~~sold ofon ~~digital~~September ~~assets~~1, ~~operations~~2022.

On December ~~January 19~~29, ~~2022~~2020, the Company incorporated ~~three~~ ~~companies~~Rayont ~~that~~Malaysia ~~are~~Sdn NoBhd ~~More~~with ~~Knots~~a ~~Holdings~~paid-up ~~Pty~~capital ~~Ltd,~~of No$25 ~~More~~and ~~Knots~~on ~~(Clayfield)~~December ~~Pty~~31, ~~Ltd~~2020 ~~and~~was ~~Wonder~~incorporated Rayont ~~Foods~~Technologies ~~Retail~~(M) ~~Pty~~Sdn ~~Ltd~~Bhd with a paid-up capital of $7225 ~~for~~from ~~each~~Rayont ofMalaysia ~~them~~Sdn Bhd to carry out its business activities in Malaysia. On February 5, 2021 Rayont Technologies (M) Pty Ltd entered into an Asset Purchase Agreement with Sage Interactive Sdn Bhd to purchase its assets in consideration of the payment of USD 105,000.00. These assets include software for remote learning, customer contracts, digital content and two key employees and one director. These assets will operate in Malaysia under Workstar trademark and operation shall be integrated with Rayont Technologies Australia to drive efficiency and scale of digital assets operations. Rayont Technologies (M) Sdn Bhd was sold in January 31, 2022.

~~Rayont~~On ~~will~~April ~~focus~~1, on2022 ~~healthcare~~under ~~including~~ the ~~manufacturing~~agreement ofRayont ~~alternative~~Inc., ~~medicine~~through ~~products~~its ~~and~~wholly ~~services~~owned ~~across~~subsidiary ~~the~~No ~~entire~~More ~~value~~Knots ~~chain~~Holdings orPty ~~across the~~Ltd, ~~full~~acquired ~~range~~100% of ~~activities~~the total ~~that~~outstanding ~~companies~~shares ~~within~~and anunits ~~industry~~of ~~bring~~No aMore ~~product~~Knots toPty ~~its end users. Longer term~~Ltd, weNo ~~have~~More ~~also~~Knots ~~invested~~(Taringa) ~~in a~~Pty ~~ground-breaking~~Ltd ~~cancer~~and ~~treatment~~No ~~technology~~More ~~through~~Knots an(Newmarket) ~~exclusive~~Pty ~~license~~Ltd ~~arrangement~~in exchange for ~~the~~AUD3,000,000 ~~sub-Saharan~~(approximately ~~African~~USD ~~territories. Headquartered in Australia~~2,247,865) ~~with expanding operations internationally~~cash, ~~our~~payable ~~purpose~~in istwo ~~“Making~~tranches. ~~Natural~~The ~~Products~~first totrench ~~Improve~~of ~~People’s~~USD1,910,685 ~~Health”.~~(AUD2,550,000) Weis dopaid ~~this~~on byMay ~~investing in early research and development~~4, ~~establishing~~2022 ~~high quality manufacturing assets for regional distribution,~~ and ~~operating across~~ the ~~alternative~~second ~~medicine~~tranche ~~value~~of ~~chain. Our underlying strategy is to grow organically~~USD337,180 ~~selectively acquire~~(AUD450,000) ~~scale profitable~~is ~~assets,~~payable ~~and~~before ~~improve~~or ~~efficiency~~on ~~through~~January ~~digitalization via mobile applications~~31, ~~websites~~2023 orif ~~modes~~three ~~of delivering products or~~conditions ~~services~~are tomet ~~end users.~~namely;

~~There~~1. ~~were~~Achievement ~~two~~of ~~transactions~~EBIDTA ~~worth noting that occurred before 30 June 2021, namely GGLG Properties Pty Ltd disposed~~ of ~~11 Aldinga Street Brendale QLD 4500 for USD693~~USD500,~~403~~000 for the land, and assets were sold for USD201,649. Premalife Pty Ltd subsequently purchased a new, more suitable building located at 32 French Avenue, Brendale QLD 4500 for USD2,304,330 excluding GST. In addition, Rayont (~~Australia~~AUD700,000) ~~Pty~~by ~~Ltd~~June ~~purchased a new property on 23 September 2021 located at 900 Sandgate Road~~30, ~~Clayfield QLD, 4011, Australia for USD1,159,040 excluding GST~~2022. ~~The acquisitions of those real estate assets into the Company have further strengthened the Group.~~

~~On January 31, 2022, two~~2. ~~subsidiaries~~Former ~~are~~owner ~~disposed.~~remain ~~One subsidiary Rayont Technologies (M) Sdn Bhd is disposed for the amount of USD40,000~~ and ~~the~~transition ~~other subsidiary Rayont Technologies Pty Ltd is disposed for~~ the ~~amount~~business ofuntil ~~$660,000. Both~~December ~~subsidiaries are acquired from Quantum Capital Inc. The purchase price for both companies in the amount of USD700~~31,~~000~~ ~~is not done with cash but in the form of shares of byer~~2022. Quantum Capital Inc issued 3,494,176 shares to the Rayont (Australia) Pty Ltd for the 100% of the issued and outstanding common stock of Rayont Technologies Pty Ltd owned from Rayont (Australia) Pty Ltd and 100% of the issued and outstanding common stock of Rayont Technologies (M) Sdn Bhd owned from Rayont (Malaysia) Sdn Bhd.

~~The~~3. ~~World~~Complete ~~Health Organization designated COVID-19 as a global pandemic. To date,~~ the ~~Company~~opening ~~has experienced some adverse impacts; however, the impacts~~ of ~~COVID-19~~new onbranch ~~our~~by ~~operating~~December ~~results for the six months ended March~~ 31, 2022 ~~and the year ended June 30, 2021 was limited due to the nature of our business~~. The extent of the COVID-19 impact to the Company will depend on numerous factors and developments related to COVID-19. Consequently, any potential impacts of COVID-19 remain highly uncertain and cannot be predicted with confidence.

As of ~~March~~June 3130, 2022, the ~~company~~business ~~group~~failed ~~structure~~to ~~consisted~~meet the first condition so the amount of the ~~following~~USD110,000 ~~companies:~~(AUD150,000) has been deducted from the purchase price. The remaining conditions have been met by the vendor and as of December 29,2022 is unconditional and it has been agreed to be paid on 31 January 2023.

No More Knots is home to over 45 tertiary qualified therapists who specialise in Remedial Massage and Myotherapy

As of this filing date, the Company has not completed and file its Form 8K as required by the SEC rules and regulations. The Company is in the process of completing all necessary documentation for the Form 8K filling in due time.

On May 14, 2022 Wonderfoods Retail Pty Ltd, a wholly owned subsidiary of Rayont (Australia) Pty Ltd, entered into an agreement with Jovestone Pty Ltd to purchase the business of Go Vita at Capalaba in consideration for USD6,918 (AUD10,000) and existing stock value at USD64,337 (AUD93,000) payable in three instalments. The total payment for the purchase of the business completed on August 17, 2022.

On June 29, 2022 Rayont (Australia) Pty Ltd (“Asset Seller”), Rayont International (L) Limited (“License Seller”) and Nova Medical Group Pty Ltd (“Buyer”) signed the Asset Sale Agreement for sale of Next Generation Photo Dynamic Therapy (NGPDT) License for Sub-Sahara Africa and its equipment for a consideration of USD3,500,000 where the consideration is split as follows:

● License for Sub-Sahara Africa – USD 2,500,000

● Equipment – USD 1,000,000

F-7

On July 1, 2022, under the agreement Rayont Inc., through its wholly owned subsidiary No More Knots (Ipswich) Pty Ltd, acquired the business of the Ipswich Massage from buyer OneDose Pty Ltd, in exchange for AUD825,000 (approximately USD600,000). Rayont will pay the purchase price in four instalments. As of today, it is remaining the last instalment that is due on July 5, 2023 in the amount of AUD51,000 (USD).

On August 22, 2022, under the agreement Rayont Inc., through its wholly owned subsidiary Rayont Australia Pty Ltd, acquired 100% of the total outstanding shares and units of The SkinDNA Company Pty Ltd, in exchange for AUD750,000 (approximately USD500,000). Rayont paid by issuing 1,524,044 of its shares to the shareholder of record of The Skin DNA Company Pty Ltd. The Corporation’s common stock was valued at USD0.34 per share on the OTC Markets on August 22, 2022.

On November 25, 2022, the Company received a termination request from the former shareholders of The SkinDNA Company Pty Ltd. Both parties are discussing ways how to resolve the concerns each party has through informal mediation.

On September 1, 2022, Rayont Inc., through its wholly owned subsidiary No More Knots Holdings Pty Ltd incorporated Biomimic Pty Ltd for the amount of $70.

On September 1, 2022, Rayont Inc., through its wholly owned subsidiary No More Knots Holdings Pty Ltd incorporated Health Script Pty Ltd for the amount of $70.

On September 1, 2022, under the agreement Rayont Inc., through its wholly owned subsidiary Health Script Pty Ltd, acquired the assets from Tugun Compounding Pty Ltd, in exchange for AUD665,000 (approximately USD450,870). The sum of USD265,520 (AUD390,000) is made as “the Cash Payment” and USD 185,350 (AUD275,000) is paid by issuing 545,147 shares at $0.34 per share of Rayont Inc to the shareholder of record of Tugun Compounding Pty Ltd.

On September 1, 2022, under the agreement Rayont Inc., sold 100% of the total outstanding shares and units of Rayont (Australia) Pty Ltd, Prema Life Pty Ltd and Rayont Properties Pty Ltd ATF Rayont Property Trust, in exchange for AUD4,944,225 (approximately USD3,352,185) to the buyer Exit Properties Pty Ltd.

About Rayont Inc

Rayont Inc is a Nevada USA company. Rayont operates in the personalized natural healthcare sector in USA and Australia.

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.

As of September 30, 2022, the company group structure consisted of the following companies:

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K/T for the year ended June 30, ~~2021~~2022. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the unaudited interim financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form 10-K/T for the year ended June 30, ~~2021~~2022, have been omitted.

F-78

Use of Estimates

The preparation of our consolidated financial statements and accompanying notes in conformity with GAAP requires us to make certain estimates and assumptions. Actual results could differ from those estimates.

Going Concern

The Company had aan ~~net~~operating loss of $~~534~~249,~~540~~287 for the ~~nine~~three months ended ~~March~~September 3130, 2022. The accumulated deficit of the Company is $43,~~446~~133,~~944 and~~435 ~~having a working capital deficiency of $2,500,022~~ as of ~~March~~September 3130, 2022. The Company demonstrates adverse conditions that raise substantial the Company’s ability to continue as a going concern. These adverse conditions are recurring operating losses, accumulated deficit~~, working~~ ~~capital deficiency~~ and other adverse key financial ratios.

The Company ~~plans~~did not generate enough revenues to ~~continue~~cover ~~obtaining~~its ~~funding~~operating ~~from~~expense ~~public~~during orthe ~~private~~quarter ~~offering~~ended September 30, 2022. The Company plans to continue obtaining funding from the majority shareholder and the President of the Company to support the Company’s normal business operating. There is no assurance, however, that the Company will be successful in raising the needed capital and, if funding is available, that it will be available on terms acceptable to the Company.

The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

Concentration of Risk

The Company maintains its cash in bank accounts which, at times, may exceed the federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash in bank.

There is no customer who accounted for 10% or more of the Company’s sales ~~but~~and there is ~~one~~no customer that accounted for more than 10% of of accounts receivable for the ~~nine~~three months ended ~~March~~September 3130, 2022 and 2021, respectively. For more information, please read note no.8.

There is no supplier who accounted for 10% or more of the Company’s cost of sales for the ~~nine~~three months ended ~~March~~September 3130, 2022 and 2021, respectively.

Fair Value of Financial Instruments

The Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities are carried at cost, which approximates their fair value, due to the relatively short maturity of these instruments. As of ~~March 31,~~September 30, 2022 and June 30, ~~2021~~2022, the Company’s notes payable has stated borrowing rates that are consistent with those currently available to the Company and, accordingly, the Company believes the carrying value of these debt instruments approximates their fair value.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include:

	●	Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets;
	●	Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and
	●	Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, the Company had cash in bank of $3728,~~845~~921 and $~~243~~185,~~610~~782, respectively.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable recorded by the Company are customer obligations due under normal trade terms. The Company reviews its accounts receivable regularly to determine if a bad debt allowance is necessary. Management reviews the composition of accounts receivable and analyses the age of receivables outstanding, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the necessity of making such allowance. Uncollectible account balances are written off when management determines the probability of collection is remote. The allowance for doubtful accounts was nil as of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022.

Inventories

Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the weighted average method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Condensed Statements of Operations and Comprehensive Income.

F-89

Intangible assets

Intangible assets for purchased are recognized and measured at cost upon acquisition and consist of the Company’s exclusive license with various ~~useful~~ useful life.

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, the Company had ~~various useful life~~ intangible assets of $1307,~~499,998~~ 416 and $~~2,245,231~~ 0. respectively associated with Rayont International’s exclusive license for registering and commercializing PhotosoftTM technology for treatment of all cancers across Sub-Sahara African region. The technology has been licensed in Australia, New Zealand, China, Malaysia and Sub-Sahara Africa which is sold on June 29, 2022. The other intangible assets are associated with trademark, website, software that Rayont Technologies Pty Ltd entered into an agreement on October 15, 2020 to purchase the assets of Workstar Tech (Aust) Pty Ltd. This company was sold on January 31, 2022. ~~and its intangible~~ Intangible assets are not part of the balance sheets as of ~~March~~June 3130, 2022 and September 30, 2022.

In addition, on February 5, 2021 Rayont Technologies (M) Sdn Bhd entered into an Asset Purchase Agreement with Sage Interactive Sdn Bhd to purchase intangible assets include software for remote learning, customer contracts and digital content. As of June 30, 2021, the carrying amount of this asset is $100,625. This company was sold on January 31, 2022 and its intangible assets are not part of the balance sheets as of ~~March~~June 3130, 2022 and September 30, 2022.

For other intangible assets, company determined the useful life of the asset as 10 years and it’s amortized based on the useful life.

~~The~~On ~~Company~~September ~~tests~~3, ~~for~~2022, ~~indefinite lived intangibles impairment in~~ the ~~fourth~~Company’s ~~quarter~~subsidiary, ofHealth ~~each~~Script ~~year~~Pty ~~and~~Ltd, ~~whenever~~acquired ~~events or circumstances indicate that~~ the ~~carrying~~assets ~~amount~~ of Prema ~~the~~Life ~~asset~~Pty ~~exceeds its fair value and may not be recoverable. In accordance with its policies~~Ltd, ~~the~~in ~~Company performed~~exchange afor ~~qualitative assessment of indefinite lived intangibles at June 30~~AUD1, ~~2021~~050,000 ~~and~~(approximately ~~determined there was no impairment of indefinite lived intangibles~~USD718,725).

These assets include intangible and tangible assets. Intangible assets are customer and formulation database in the amount of USD148,092, trademark, website in the amount of USD162,448 and inventory in the amount of USD408,185 as of September 30, 2022.

Amortization is computed using the straight-line method over the 10-year estimated useful lives of the customer and formulation database, trademark and 5-year estimated useful lives of the website.

The Company tests for indefinite lived intangibles impairment in the fourth quarter of each year and whenever events or circumstances indicate that the carrying amount of the asset exceeds its fair value and may not be recoverable. In accordance with its policies, the Company performed a qualitative assessment of indefinite lived intangibles at September 30, 2022, and determined there was no impairment of indefinite lived intangibles.

Property and equipment

Property and equipment are carried at cost and, less accumulated depreciation. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposal. The Company examines the possibility of decreases in the value of property and equipment when events or changes in circumstances reflect the fact that their recorded value may not be recoverable.

The Company’s property and equipment mainly consists of computer and laser equipment. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from 4-1240 years.

Impairment of Long-lived Assets

The Company reviews long-lived assets when changes in circumstances or event could impact the recoverability of the carrying value of the assets. Recoverability of long-lived assets is determined by comparing the estimated undiscounted cash flows related to the long-lived assets to their carrying value. Impairment is determined by comparing the present value of future undiscounted cash flows, or some other fair value measure, to the carrying value of the asset. For the three months ended September 30, 2022 and September 30, 2021, no impairment of long-lived assets was indicated, and no impairment loss was recorded.

F-10

Revenue Recognition

Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to be entitled to in exchange for those products and services. We enter into contracts that include products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for returns and any taxes collected from customers.

The Company’s contracts with customers may include multiple performance obligations. Revenue relating to agreements that provide more than one performance obligation is recognized based upon the relative fair value to the customer of each performance obligation as each obligation is earned. The Company derives its revenues the follows:

~~Digital~~Sale ~~Learning~~of ~~Solutions~~Services: Remedial Massage & Myotherapy

Revenue from ~~digital~~remedial ~~learning~~massage ~~solutions~~& myotherapy is recognized when ~~control~~the entity has ~~transferred~~provided the services to the ~~customer~~clients which typically occurs when the service is ~~completed~~ ~~or the delivery of the license to the customer~~completed.

Maintenance Services:

The Company offers maintenance and function improvements services related to the mobile apps for customers. Maintenance service is considered distinct and is recognized ratably over the maintenance term.

F-9

Sale of Goods - Medicinal Supplements:

Revenue from these sales is recognized when the entity has delivered the products to locations specified by its customers and the customers have accepted the products in accordance with the sales contract.

Products are sold to certain customers with volume discount and these customers also have the right to return within a reasonable time frame. Revenue from these sales is recorded based on the contracted price less the estimated volume discount and returns at the time of sale.

Earnings / (Loss) Earnings Per Share

Basic earnings per share is computed by dividing net income / (loss) attribute to stockholders of common stock by the weighted-average number of common shares outstanding for the period. Diluted net earnings per share is computed by dividing net income / (loss) by the weighted average number of common shares outstanding plus equivalent shares.

Diluted earnings per share reflects the potential dilution that could occur from common shares issuable through convertible notes and preferred stock when the effect would be dilutive. The Company only issued common stock and does not have any potentially dilutive instrument as of ~~March~~September 3130, 2022 and ~~March~~September 3130, 2021.

Translation of Foreign Currency

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations.

The functional currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In addition, the Company’s Australian subsidiaries maintain their books and record in a local currency, Australian Dollars (“AUD”), which is functional currency as being the primary currency of the economic environment in which the entity operates. The Company’s Malaysian subsidiaries maintain their books and record in US$.

In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income.

F-1011

Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates for the respective years:

SCHEDULE OF EXCHANGES RATE

Average Rate for the nine months ended March 31,

Average Rate for the three months ended September 30,

2022

~~2021~~

2021

Australian dollar (AUD)

~~AUD~~

~~1.3713~~AUD

~~AUD~~

1.~~3564~~4643

AUD

1.3619

Exchange Rate at

March 31, 2022

June 30, 2021

September 30, 2022

June 30, 2022

Australian dollar (AUD)

~~AUD~~

~~1.3335~~AUD

~~AUD~~

1.~~3340~~5535

AUD

1.4482

Recent Accounting Pronouncements

Management believes none of the recently issued accounting pronouncements will have a material impact on the consolidated financial statements.

NOTE 3 – INVENTORIES

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, inventories were composed of the following:

SCHEDULE OF INVENTORIES

	March 31, 2022		June 30, 2021
	September 30, 2022		June 30, 2022
Raw materials	$	~~173~~187,~~794~~101	$	~~190~~187,~~533~~140
Working in progress	$	9581,~~563~~122		9382,~~147~~446
Finished goods	$	~~153~~207,~~450~~179		~~216~~242,~~485~~467
Total inventories	$	~~422~~475,~~806~~402	$	~~500~~512,~~165~~053

NOTE 4 – PROPERTY AND EQUIPMENT, NET

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, property and equipment consisted of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT, NET

	March 31, 2022			June 30, 2021
	September 30, 2022			June 30, 2022
Land	$	~~1,274,073~~-		$	12,~~273~~982,~~595~~738
Building		~~2,396,187~~-			12,~~030~~673,~~735~~276
Leasehold improvements		~~548~~235,~~843~~564			-758,066
Laser equipment		1,302,562			1,302,073
Different equipment		428,066			-
Vehicle		~~29,805~~-			2927,~~794~~445
Computer equipment		7,378			187,~~248~~378
Total		5671,~~558,847~~008			36,~~654~~448,~~445~~902
Less: accumulated depreciation		(~~618~~158,~~227~~598	)		(~~513~~207,~~688~~853	)
Total property and equipment, net	$	4512,~~940,620~~409		$	36,~~140~~241,~~757~~049

F-12

On June 30, 2018, the Company purchased computers in the amount of $7,378.

On January 22, 2019, the Company’s subsidiary, Rayont (Australia) Pty. Ltd, purchased the cancer treatment equipment for USD 1,239,008 (AUD1,736,966).

On June 26, 2020, the Company’s subsidiary, GGLG Properties Pty Ltd, purchased a property located at 11 Aldinga Street Brendale QLD 4500, Australia for USD472,135 (AUD686,814). GGLG Properties Pty Ltd disposed this property on June 29, 2021 for USD693,403.

On May 4, 2022, Rayont Properties Pty Ltd (formerly known as GGLG Properties Pty Ltd) acquired two properties. First property is located at 85 Juliette St, Greenslopes (lot 272) QLD 4120 Australia and has a surface land of 405m² and surface of building of 280m2. Its purchase price is USD1,643,327 (AUD2,300,000), excluding GST. The stamp duty of this property in the amount of USD90,198 (AUD130,625) it is capitalized too. It is used for operations of No More Knots Pty Ltd. Rayont Properties Pty Ltd is sold on September 1, 2022 and this property is not part of the balance sheet as of September 30, 2022.

Second property is located at 44 Marquis Street, Greenslopes QLD 4120 Australia and has a surface land of 405m² and surface of building of 115m2. Its purchase price is USD600,746 (AUD870,000), excluding GST. The stamp duty of this property in the amount of USD22,217 (AUD32,175) it is capitalized too. This property is rented to third parties and parking is used for No More Knots Pty Ltd. Rayont Properties Pty Ltd is sold on September 1, 2022 and this property is not part of the balance sheet as of September 30, 2022.

On October 15, 2020, the Company entered into an agreement to purchase the assets of Workstar Tech (Aust) Pty Ltd, from an individual towards purchase of fair value of USD476,594.32 (AUD632,393) for purchase consideration of USD228,258.35 (AUD302,876). The company considered the gain on purchase of assets as an income in fiscal year ended June 30, 2021.

These assets include intangible assets like trademark, website, software in the amount of USD465,666.59 (AUD617,893) and tangible assets like office assets, computer contracts in the amount of USD10,927.73 (AUD14,500). This company was sold on January 31, 2022 and its assets are not part of the BS as of ~~March~~June 3130, 2022.

On October 28, 2020, the Company’s subsidiary obtained a Finance Lease for vehicle in the amount of $34,167 (AUD 44,880) from Australian Alliance Automotive Finance Pty Limited to assist the Company to meet its operating activities. Rayont Properties Pty Ltd is sold on September 1, 2022 and this property is not part of the balance sheet as of September 30, 2022.

On June 28, 2021, the Company’s subsidiary, ~~Premalife~~Prema Life Pty Ltd, purchased a property which consist of 2720m2 land and 1760m2 building located at 32 French Avenue, Brendale QLD 4500, Australia for a total amount of USD2,304,330 excluding GST. The land cost is $1,273,595 and the building cost is $1,030,735. The purchase price of this property is paid totally by mortgage loans.

On September 23, 2021, the Company’s subsidiary, Rayont (Australia) Pty Ltd, purchased a new property located at 900 Sandgate Road, Clayfield QLD, 4011, Australia for USD1,159,040 excluding GST. The purchase price of this property is paid by issuing shares of Rayont Inc. In addition, ~~the~~Prema ~~Company~~Life has ~~received~~done aleasehold ~~loan~~improvements ~~to cover some fit-out expense and its interest is capitalized~~ in the ~~cost~~amount of ~~this~~$505,374 ~~property. The~~as ~~policy that the Company has used for the capitalization~~ of ~~the~~June ~~interest~~30, ~~is ASC835~~2022. ~~Interest~~Prema isLife ~~capitalized~~Pty ~~during~~Ltd ~~the period under which the asset~~ is ~~being~~sold ~~prepared~~on ~~for its intended use. The purpose of this is to obtain a more accurate representation of the full costs~~September ~~incurred~~1, in2022 ~~acquiring~~and orthose ~~constructing~~properties ~~the~~are ~~asset.~~not ~~The~~part ~~interest capitalized should be added to the cost~~ of the ~~asset on the~~ balance sheet ~~and,~~ ~~when~~as ~~the asset is used internally, amortized over the life~~ of ~~the~~September ~~asset. The amount of the interest capitalized is USD107~~30,~~296~~ ~~(AUD147,790)~~2022. ~~In addition, it is capitalized even the stamp duty of the property in the amount of USD52,654 (AUD72,525).~~

~~For~~On September 23, 2021, the ~~nine~~Company’s ~~months~~subsidiary, ~~ended~~Rayont ~~March~~(Australia) 31Pty Ltd, ~~2022~~purchased a new property located at 900 Sandgate Road, Clayfield QLD, 4011, Australia for USD1,159,040 excluding GST. The purchase price of this property is paid by issuing shares of Rayont Inc. In addition, the Company has received a loan to cover some fit-out expense and ~~2021~~its interest is capitalized in the cost of this property. The policy that the Company has used for the capitalization of the interest is ASC835. Interest is capitalized during the period under which the asset is being prepared for its intended use. The purpose of this is to obtain a more accurate representation of the full costs incurred in acquiring or constructing the asset. The interest capitalized should be added to the cost of the asset on the balance sheet and, when the ~~depreciation~~asset ~~expenses~~is ~~were~~used ~~$102~~internally,~~967~~ ~~and~~amortized ~~$99~~over the life of the asset. The amount of the interest capitalized is USD107,~~136~~296 (AUD147,790). In ~~respectively~~addition, it is capitalized even the stamp duty of the property in the amount of USD52,654 (AUD72,525). Rayont (Australia) Pty Ltd is sold on September 1, 2022 and this property is not part of the balance sheet as of September 30, 2022.

~~F-11~~No More Knots (Taringa) Pty Ltd, the new company acquired on April 1, 2022, has done leasehold improvements in the amount of $232,796 as of September 30, 2022.

No More Knots (Clayfield) Pty Ltd, the company incorporated on January 19, 2022, has done leasehold improvements in the amount of $2,768 as of September 30, 2022.

On September 1, 2022, the Company’s subsidiary, Health Script Pty Ltd, acquired the assets of Tugun Compounding Pty Ltd, in exchange for AUD665,000 (approximately USD450,870).

These assets include tangible assets like office assets, laboratories’ assets, storage room, in the amount of USD428,066 (AUD665,000) as of September 30, 2022.

For the three months ended September 30, 2022 and 2021, the depreciation expenses were $6,284 and $39,819, respectively.

F-13

NOTE 5 – INTANGIBLE ASSETS

Amortization is computed using the straight-line method over the 10-year estimated useful lives of the assets.

On February 5, 2021 Rayont Technologies (M) Pty Ltd entered into an Asset Purchase Agreement with Sage Interactive Sdn Bhd to purchase its assets in consideration of the payment of USD 105,000.00. These assets include software for remote learning, customer contracts and digital content. This company was sold on January 31, 2022 and its assets are not part of the balance sheets as of ~~March~~June 3130, 2022 and September 30, 2022.

Amortization is computed using the straight-line method over the 10-year estimated useful lives of the assets.

The Company had evaluated the useful life of 10 years from 2018 for the intangible assets of $2,000,000, which is associated with Rayont International’s exclusive license for registering and commercializing PhotosoftTM technology for treatment of all cancers across Sub-Sahara African region. The technology has been licensed in Australia, New Zealand, China, Malaysia and Sub-Sahara Africa. This license was sold on June 29, 2022 and is not part of the balance sheets as of June 30, 2022 and September 30, 2022.

~~The~~On ~~license~~September ~~has~~3, ~~only~~2022, ~~remaining~~the ~~life~~Company’s ofsubsidiary, 7Health ~~years~~Script ~~and~~Pty itLtd, isacquired ~~amortized~~the ~~for~~assets ~~the~~of Prema ~~six~~Life ~~months~~Pty ~~ended~~Ltd, ~~March~~in 31exchange for AUD1,050,000 ~~2022~~(approximately USD718,725).

AsThese ofassets ~~March~~include ~~31,~~intangible ~~2022~~and tangible assets. Intangible assets are customer and ~~June~~formulation 30database in the amount of USD148,092, ~~2021~~trademark, website ~~intangible~~in ~~assets,~~the ~~consisted~~amount of USD162,448 and inventory in the ~~following:~~amount of USD408,185 as of September 30, 2022.

Amortization is computed using the straight-line method over the 10-year estimated useful lives of the customer and formulation database, trademark and 5-year estimated useful lives of the website.

F-14

As of September 30, 2022 and June 30, 2022, intangible assets, consisted of the following:

SCHEDULE OF INTANGIBLE ASSETS

	March 31, 2022			June 30, 2021
	September 30, 2022			June 30, 2022
Exclusive license for registering and commercializing PhotosoftTM technology	$	2,000,000		$	2,000,000
Customer and Formulation Database	$	148,092		$	-
Trademark, website, software		-162,448			~~568,188~~-
Total		2310,~~000,000~~540			~~2,568,188~~-
Less: accumulated amortization		(~~500~~3,~~001~~124	)		~~(322,957~~-	)
Total intangible assets, net	$	1307,~~499,998~~416		$	~~2,245,231~~-

For the ~~nine~~three months ended ~~March~~September 3130, 2022 and 2021, the amortization expenses were $~~246~~3,~~954~~315 and $2285,~~717~~489, respectively.

NOTE 6 – LOANS PAYABLE

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, loans payable, consisted of the following:

SCHEDULE OF LOAN PAYABLE

	March 31, 2022		June 30, 2021
Current loan payable:	September 30, 2022		June 30, 2022
Current loan payable:
Mortgage loan	$	110,345		450,405
Mortgage loan	$	1,840,026	$	2,046,477
Loan - Mazars (Quickfee)		-		45,032
COVID-19 loan		-		5,077
Note payable -1800 Diagonal		120,625		172,200
Loan		396,669		-
Lydia Loh Holdings Loan		-		1,035,769
Loan - Aura		599,273		-
Loan - Trevor Townsend		-		414,307
HP Liability - Label Applicator		~~4,391~~-		-3,296
Total current loan payable	$	2,840,360	$	2,051,554
Attvest Insurance Loan		3,910		25,430
Loan - Biz Cap		257,317		306,804
Loan Kelly Townsend		26,287		28,198
Kova Brendale Pty Ltd		41,197		-
Kova Properties Pty Ltd		451		-
Kova Clayfield Pty Ltd		8,356		-
Total current loan payable	$	568,488	$	2,481,440
Non-current loan payable:
COVID-19 loan		187,477		182,329
Mortgage loan		271,284		4,811,975
Total non-current loan payable:	$	~~187~~271,~~477~~284	$	~~182~~4,~~329~~811,975
Total loan payable	$	3839,~~027,837~~772	$	27,~~233~~293,~~883~~415

F-1215

Mortgage loan

On June 26, 2020, the Company’s subsidiary obtained a mortgage loan of $453,713 (AUD 660,000) from two private lenders Oliver Fleming Pty Ltd as Trustee and Oliver John Fleming to assist the Company to buy the land of the business place. The term of the loan is one year from the commencement date, and the interest rate is 10% per annum. Monthly payments are compound just from interest in the amount of $ 4,108 (AUD 5,500). The loan is secured under the Company’s present and future property of any kind, including all personal property. The principal amount is paid in the end of the term, on June 26, 2021.

On June 28, 2021, the Company’s subsidiary purchased a property which consist of 2720m2 land and building 1760m2. Since the intention was to settle the property prior to June 30, 2021as per the Sale & Purchase Contract, the liability of the loan had to be recognized, even though the agreement date of the loans for this property is on August 6, 2021 and on September 1, 2021. This transaction is an adjusting event for the balance sheet at June 30, 2021. The Company’s subsidiary obtained on August 6, 2021 a mortgage loan of $ 1,746,920 (AUD 2,380,000) from private lender COE Property Group Pty Ltd to assist the Company to buy the property of the business place. This loan is divided in two tranches. The term of the loan is one year from the commencement date for the first tranche in the amount of $ 1,490,020 (AUD 2,030,000), the interest rate is 9% per annum and for the second tranche in the amount of $ 256,900 (AUD 350,000), the term of the loan is 4 months from the commencement date and the interest rate is 36% per annum. Monthly payments are compound just from interest in the amount of $ 11,175 (AUD 15,225) for first tranche and interest in the amount of $ 7,707 (AUD 10,500) for the second tranche. The loan is secured under the Company’s present and future property of any kind, including all personal property. The principal amount will be paid in the end of the term, December 6, 2021 for second tranche and August 5, 2022 for first tranche. Both tranches are paid on May 4, 2022.

The Company’s subsidiary obtained on September 1, 2021 a mortgage loan of $ 257,915 (AUD 350,000) from private lender RDS Superannuation Pty Ltd as Trustee for The Ron Bruce Motor Trimmers Pty Ltd to assist the Company to buy the property of the business place. The term of the loan is two months from the commencement date, and the interest rate is 18% per annum. Monthly payments are compound just from interest in the amount of $ 3,869 (AUD 5,250). The loan is secured under the Company’s present and future property of any kind, including all personal property. The principal amount is paid in the end of the term, October 15, 2021.

AsOn ofMay ~~March 31~~4, 2022 ~~and~~some ~~June~~subsidiaries ~~30,~~of ~~2021~~ the ~~Company~~group ~~had~~in ~~outstanding~~Australia ~~balances~~received ofloans ~~$1,840,026~~from ~~and~~Commonwealth ~~$2,046,477~~Bank ~~related~~as todescribed ~~the mortgage loan.~~below:

Prema Life Pty Ltd received a loan in the amount of USD2,500,750 (AUD3,500,000). The loan term is five years with a variable rate of 3.16% per annum. This loan is received to refinance the 23 Frech property of Prema (to pay loans received earlier for this property like COE, James Lee and QRIDA). This is a secured loan. Prema Life Pty Ltd is sold on September 1, 2022 and this loan is not part of the balance sheet as of September 30, 2022.

Rayont (Australia) Pty Ltd received a loan in the amount of USD250,075 (AUD350,000). The loan term is three years with a variable rate of 3.50% per annum. This loan is received to extinguish private lenders secured over 900 Sandgate property. This is a secured loan. Rayont (Australia) Pty Ltd is sold on September 1, 2022 and this loan is not part of the balance sheet as of September 30, 2022.

No More Knots Holdings Pty Ltd received a loan in the amount of USD357,250 (AUD500,000). The loan term is three years with a variable rate of 3.50% per annum. This loan is received to pay No More Knots Pty Ltd Acquisition’s Balance. This is a secured loan.

Wonder Foods Retail Pty Ltd received a loan in the amount of USD107,175 (AUD150,000). The loan term is three years with a variable rate of 3.50% per annum. This loan is received to fund the stock in Wonder Foods Retail. This is a secured loan.

Rayont Properties Pty Ltd received two loans: The first loan is in the amount of USD2,207,091 (AUD3,089,000). The loan term is five years with a variable rate of 3.50% per annum. This loan is received to buy two properties located at 85 Juliette St, Greenslopes (lot 272) QLD 4120 Australia and 44 Marquis Street, Greenslopes QLD 4120 Australia. The second loan is in the amount of USD57,875 (AUD81,000). The loan term is three years with a variable rate of 3.50% per annum. This loan is received to buy two properties located at 85 Juliette St, Greenslopes (lot 272) QLD 4120 Australia and 44 Marquis Street, Greenslopes QLD 4120 Australia. Those are secured loans. Rayont Properties Pty Ltd is sold on September 1, 2022 and this loan is not part of the balance sheet as of September 30, 2022.

As of September 30, 2022 and June 30, 2022 the Company had outstanding current balances of $110,345 and $450,405 and non-current balances of $271,284 and $4,811,975, respectively related to the mortgage loan.

F-16

The Company’s subsidiary obtained on October 15, 2021 a loan of $266,976 (AUD 360,000) from private lender James Lee to assist the Company to pay another loan. The term of the loan was three months from the commencement date but it is extended with two more months, and the interest rate is 48% per annum or 96% per annum if the payment will be default as per loan agreement. The loan is secured under the Company’s present and future property of any kind, including all personal property. The principal amount and the interest should be paid both on March 15, 2022. The Company’s subsidiary obtained on November 12, 2021 a loan of $547,319 (AUD747,500) from private lender Aura Loan Management Pty Ltd to assist the Company to cover the fit-out expenses for the property purchased lately located at 900 Sandgate Road, Clayfield QLD, 4011 Australia in order to be ready for internal use of the subsidiary Rayont (Autsralia) Pty Ltd. The term of the loan is 12 months from the commencement date, and the interest rate is 9.25% per annum. Monthly payments are compound just from interest in the amount of $4,183 (AUD5,762). The loan is secured under the Company’s present and future property of any kind, including all personal property. This loan is paid on May 4, 2022.

COVID-19 loan

On June 29, 2020, the Company’s subsidiary obtained a COVID-19 loan of $ 171,729 (AUD 250,000) from Queensland Rural and Industry ~~Development~~ Development Authority (QRIDA) to assist the Company to meet its working capital expenses. The term of the loan is 10 years from the commencement date, and the interest rate is 0% for the first 12 months from the commencement date and then 2.5% from the remainder of the term. The Company’s subsidiary has an Interest Only Period beginning 12 months after the Commencement Date and ending 36 months from the Commencement Date. The loan is secured under the Company’s present and future property of any kind, including all personal property. This loan is paid on May 4, 2022. As of ~~December~~September 3130, ~~2021~~2022 and June 30, ~~2021~~2022, the Company had outstanding balances of $~~181~~0,~~501~~ ~~and $187,406,~~ respectively related to the COVID-19 loan.

~~For~~Rayont ~~the~~inc, 9received ~~months~~on ~~ended~~May ~~March 31~~23, 2022 ~~and~~a ~~2021~~note ~~the~~payable ~~interest~~in ~~expenses~~the ~~were~~amount ~~$302~~of 172,~~494~~200 from 1800 Diagonal Lending LLC. This note has 12% interest rate per annum and has original issue discount in the amount of $3718,~~047, respectively~~450.

Interest and outstanding principal, subject to adjustment, shall be paid in ten (10) payments each in the amount of $19,286.40.

Rayont (Australia) Pty Ltd has received on June 10, 2022 a private loan in the amount of USD423,240 (AUD600,000) from Trevor Townsend. The loan term is one year and with a variable rate of 8% per annum. This loan is received to finance the acquisition of business of No More Knots Pty Ltd. This is a secured loan. Rayont (Australia) Pty Ltd is sold on September 1, 2022 and this loan is not part of the balance sheet as of September 30, 2022.

Rayont (Australia) Pty Ltd has received on May 4, 2022 a private loan in the amount of USD1,071,750 (AUD1,500,000) from Lydia Loh Holdings Pty Ltd. The repayment date was for 10 days but then the loan was agreed to be extended by another 160 days with an interest rate of 0.7% per day. Purpose of this loan was to acquire No More Knots Pty Ltd, No More Knots Taringa and No More Knots Newmarket. This is a secured loan. Rayont (Australia) Pty Ltd is sold on September 1, 2022 and this loan is not part of the balance sheet as of September 30, 2022. It is transferred to the buyer of the Rayont Australia as of September 1, 2022.

Rayont (Australia) Pty Ltd has received two small private loans on December 12, 2021 and April 4, 2022 in the amount of USD55,662 (AUD77,556) and USD26,554 (AUD35,176), respectively from Quickfee. The loan term is one year. This loan is received to paid the invoices sent from Mazzars for Rayont Australia. This is unsecured loan. Rayont (Australia) Pty Ltd is sold on September 1, 2022 and this loan is not part of the balance sheet as of September 30, 2022.

No More Knots Holdings Pty Ltd has received on May 4, 2022 a private loan in the amount of USD29,178 (AUD40,836.44) from Kelly Townsend. The loan is non-interest bearing and payable on demand. This loan is received to finance operations of No More Knots Holdings Pty Ltd. This is unsecured loan.

No More Knots Pty Ltd has received on May 12, 2022 two private loans in the amount of USD95,928 (AUD140,000) and USD34,260 (AUD50,000) from Bizcap AU Pty Ltd. The loan term is 26 weeks and 90 days, respectively with total interest amount of USD47,005 (AUD68,600) and USD16,787 (AUD24,500) for the period, respectively. This loan is received to finance operations of No More Knots Pty Ltd. This is unsecured loan. Those loans are paid on August 24, 2022.

F-17

No More Knots Pty Ltd received on August 24, 2022 another private loan in the amount of USD172,831 (AUD250,000) from Bizcap AU Pty Ltd. The loan term is 28 weeks with total interest amount of USD77,774 (AUD112,500) for the period. This loan is received to finance operations of No More Knots Pty Ltd. This is unsecured loan.

No More Knots (Taringa) Pty Ltd has received on May 12, 2022 one private loan in the amount of USD37,686 (AUD55,000) from Bizcap AU Pty Ltd. The loan term is 26 weeks with total interest amount of USD18,466 (AUD26,950) for the period. This loan is received to finance operations of No More Knots Pty Ltd. This is unsecured loan. This loan is paid on August 24, 2022.

No More Knots (Taringa) Pty Ltd received on August 24, 2022 another private loan in the amount of USD57,034 (AUD82,500) from Bizcap AU Pty Ltd. The loan term is 28 weeks with total interest amount of USD25,665 (AUD37,125) for the period. This loan is received to finance operations of No More Knots (Taringa) Pty Ltd. This is unsecured loan.

No More Knots (Newmarket) Pty Ltd has received on May 12, 2022 one private loan in the amount of USD37,686 (AUD55,000) from Bizcap AU Pty Ltd. The loan term is 26 weeks with total interest amount of USD18,466 (AUD26,950) for the period. This loan is received to finance operations of No More Knots Pty Ltd. This is unsecured loan. This loan is paid on August 24, 2022.

No More Knots (Newmarket) Pty Ltd received on August 24, 2022 another private loan in the amount of USD57,034 (AUD82,500) from Bizcap AU Pty Ltd. The loan term is 28 weeks with total interest amount of USD25,665 (AUD37,125) for the period. This loan is received to finance operations of No More Knots (Newmarket) Pty Ltd. This is unsecured loan.

No More Knots (Ipswich) Pty Ltd has received on August 24, 2022 one private loan in the amount of USD58,763 (AUD85,000) from Bizcap AU Pty Ltd. The loan term is 24 weeks with total interest amount of USD26,443 (AUD38,250) for the period. This loan is received to finance operations of No More Knots (Ipswich) Pty Ltd. This is unsecured loan.

Prema Life Pty Ltd has received on April 21, 2022 one private loan in the amount of USD184,400 (AUD250,000) from Bizcap AU Pty Ltd. The loan term is 140 days with total interest amount of USD90,356 (AUD122,500) for the period. This loan is received to finance operations of No More Knots Pty Ltd. This is unsecured loan. Prema Life Pty Ltd is sold on September 1, 2022 and this loan is not part of the balance sheet as of September 30, 2022.

The Company has received during quarter ended September 30, 2022 from Kova Brendale Pty Ltd, Kova Properties Pty Ltd and Kova Clayfield Pty Ltd the amounts of $41,197, $451 and $8,356, respectively. Those loans are non-interest bearing and payable on demand. Those loans are received to finance operations of the Company. Those are unsecured loan.

For three months ended September 30, 2022 and 2021 the interest expenses were $187,382 and $47,291, respectively.

NOTE 7 – FINANCE LEASE PAYABLE

SCHEDULE OF FINANCE LEASE

	March 31, 2022		June 30, 2021
Current finance lease:	September 30, 2022		June 30, 2022
Current finance lease:
Finance lease for vehicle	$	-	$	10,983
Finance lease for vehicle	$	8,366	$	8,188
Total current finance lease	$	-	$	10,983
Total current finance lease	$	8,366	$	8,188
Non-current finance lease:
Finance lease for vehicle		~~13,443~~-		197,~~669~~812
Total non-current finance lease:	$	~~13,443~~-	$	197,~~669~~812
Total finance lease	$	~~21,809~~-	$	2718,~~857~~795

On ~~October~~the ~~28,~~28th of October 2020, the Company’s subsidiary ( Rayont Properties Pty Ltd ) obtained a Finance Lease for vehicle in the amount of $34,167 (AUD 44,880) from Australian Alliance Automotive Finance Pty Limited to assist the Company to meet its operating activities. The term of the loan is 4 years from the commencement date, and the interest rate is 5.03% for the term. Rayont Properties Pty Ltd is sold on September 1, 2022 and this Finance Lease is not part of the balance sheet as of September 30, 2022. As of ~~March~~September 30, 312022 and June 30, 2022, the Company had outstanding balances of $210 and $18,~~809~~ 795, respectively related to the Finance Lease.

Finance lease activity is included in property and equipment, net.

F-1318

NOTE 8 – CONCENTRATION

At(a) ~~March~~Major 31, 2022 and June 30, 2021, the major customer represented approximately 42% and 0% of total accounts receivable, respectively. The payment is received on April 4, 2022 from this customer for the due amount to the end of March 31, 2022 and the difference will be paid on May, 2022.Customers

At September 30, 2022 there was no customer who accounted for 10% or more of total accounts receivable and at June 30, 2022, one major customer represented approximately 26% of total accounts receivable.

(b) Major Suppliers

At September 30, 2022 and June 30, 2022 there was no supplier who accounted for 10% or more of the Company’s purchases nor with significant outstanding payables.

NOTE 9 – STOCKHOLDERS’ EQUITY

Capital Stock Issued

OnDuring ~~July~~the 17three months ended September 30, 2021, the Company issued 710,713 shares of common stock to the The AliKasa Pty Ltd for the purchase of the GGLG, the Corporation’s wholly owned subsidiary, totaling $618,320 on July 17, 2021.

On September 23, 2021, the Company issued 515,771 shares of common stock to the AMH Corporate Pty Ltd for the purchase of a property and building located at 900 Sandgate Road, Clayfield QLD, 4011 Australia from Rayont (Australia) Pty Ltd, the Corporation’s wholly owned subsidiary, totaling $1,159,040.

OnDuring ~~December~~the 16three months ended September 30, ~~2021~~202, the Company issued 101,~~500~~524,044 ~~shares~~ of ~~common~~its ~~stock~~shares to the ~~two~~shareholder of ~~board~~record ~~directors~~of The Skin DNA Company Pty Ltd. for the acquisition 100% of the total outstanding shares and units of The SkinDNA Company Pty asLtd, totaling $518,175 on August 22, 2022. The Company received a ~~compensation~~termination ~~fee~~request ~~for~~from the former shareholders of The ~~their~~SkinDNA ~~services~~Company Pty Ltd. Both parties are discussing ways how to resolve the concerns each party has through informal mediation.

On ~~March~~September 311, 2022, under the ~~Company~~agreement ~~issued~~Rayont 13Inc.,~~889~~ ~~shares~~through ofits ~~common~~wholly ~~stock~~owned tosubsidiary Health Script Pty Ltd, acquired the ~~two~~assets ~~board~~from Tugun ~~directors~~Compounding Pty Ltd, in exchange for AUD665,000 (approximately USD450,870). The sum of ~~the~~USD265,520 ~~Company~~(AUD390,000) is made as a“the Cash ~~compensation~~Payment” ~~fee~~and ~~for~~USD 185,350 (AUD275,000) is paid by issuing 545,147 shares at $0.34 per share of Rayont Inc to the shareholder ~~their~~of ~~services~~record of Tugun Compounding Pty Ltd.

During the period from July ~~2021~~2022 through ~~December~~September ~~2021~~2022, the Company ~~sold~~did ~~and~~not ~~issued~~sell ~~49,114~~any shares of common stock ~~to 2 independent investors pursuant to a private placement; 16,614 shares at $2~~.21; 32,500 shares at $2.20 for a total amount of $108,216. The Company relied upon Section 4(2) and Regulation S of the Securities Act of 1933, as amended, for the sale of these securities. No commissions were paid regarding the share issuance and the share certificates were issued with a Rule 144 restrictive legend.

Capital Stock Authorized

Common Stock

The Company is authorized to issue 500,000,000 shares of common stock with a par value of $0.001 per share. As of ~~March~~September 3130, 2022 and ~~June~~ June 30, ~~2021~~2022, the outstanding shares of common stock were 4850,~~083~~163,~~356~~797 and 4648,~~783~~094,~~369~~606, respectively.

Preferred Stock

The Company is authorized to issue 20,000,000 shares of Series A Preferred Stock with a par value of $0.001 per share. There are not preferred shares issued and outstanding as of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, respectively.

F-1419

NOTE 10 - RELATED PARTY TRANSACTIONS

The related parties of the Company with whom transactions are reported in the consolidated financial statements are as follows:

Name Relationship ~~Rural~~TheAlikasa ~~Asset Management Services, Inc.~~ (~~“Rural”~~Australia) ~~One~~Pty ofLtd ~~major~~Common director / shareholder of ~~Rayont~~the ~~Inc~~Company ~~Natural~~ Health &Script ~~Education~~ Pty Ltd ~~(“NHE”)~~ Entity under the same beneficial owner,/ ~~Rural’s~~common ~~Asset~~directors ~~Shareholder~~ Abrar Investments Pty Ltd ~~Shareholder~~Common ofshareholder ~~Rayont~~Tasman ~~Inc~~Accounting ~~Exit Solutions~~ Pty Ltd Entity under the same beneficial owner/ common directors ~~Zenio~~Vantis ~~Management~~Partners Pty Ltd Entity under the same beneficial owner/ common directors Blue Pacific Academy Entity under the same beneficial owner/ common directors Accounting Business Solutions Pty Ltd Common directors TheAliKasa Australia Pty Ltd Common directors Xseed Pty Ltd Common directors

Amount due from related parties

	March 31, 2022		June 30, 2021
	September 30, 2022		June 30, 2022
TheAliKasa Australia Pty Ltd	$	~~36,884~~-	$	-20,097
Rural Asset Management Services		11,881		11,881
Health Script Pty Ltd		-		45,919
Blue Pacific Academy		4,000		4,000
Total	$	-	$	66,016
Abrar Investments Pty Ltd		2,925		-
Amount due from related parties	$	-	$	66,016
Director’s loan		31,092		-
Total	$	86,782	$	15,881

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, Prema Life Pty Ltd and Wonder Foods Pty Ltd had ~~loans~~amount receivable of $~~36,884~~nil and $~~nil~~20,097 from ~~TheAliKasa~~director of ~~Australia~~the company. Prema Life Pty Ltd owed the director $386,105 as of June 30, 2021. In repaying this amount Prema Life Pty Ltd as of June 30, 2022 had paid $20,097 more than it was supposed to pay. This was not meant to be a loan but rather an oversight of the accounts. The oversight indicates a deficiency of internal control over financial reporting under the current operations. The Management has taken ~~loans~~immediate ~~receivable~~remedial action rectifying the overpayment. As at 30 September 2022, the Director loan is not overdrawn. Prema Life Pty Ltd was ~~non-interest~~sold ~~bearing~~on September 1, 2022 to unrelated party and ~~due~~this ~~upon~~loan ~~request~~has been reconciled as part of that transaction.

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, Rayont ~~International~~ (LAustralia) ~~had~~Pty Ltd has loans receivable of $11nil and $45,~~881~~919 from ~~Rural~~Health ~~Asset~~Script ~~Management~~Pty ~~Services~~Ltd. On ~~June~~This ~~30,~~is ~~2020, the company agreed to grant~~ a ~~loan~~prepayment ~~to the Rural~~ for ~~the~~acquisition ~~amount~~ of ~~$91,823. The loan bears no interest rate and receivable on demands. Due to~~ the ~~short~~assets ~~maturity~~from ofTugan ~~the~~Compounding ~~loan,~~Pty ~~the~~Ltd ~~Company~~that ~~had~~is acompleted ~~current~~in ~~loans receivable of $91,823 as of~~ September 301, ~~2020~~2022. The ~~Company~~ ~~made~~loans areceivable was ~~three~~non-~~party~~interest ~~agreement~~bearing ~~on December 31, 2020 between its subsidiary Rayont International (L), Rayont Inc~~ and ~~Rural~~it ~~in order to eliminate the loans from /to Rural and there~~ is nodue ~~need~~upon ~~for money to move around~~request. ~~The remaining balance of $11,881 will be received on demands.~~

As of March 31, 2022 and June 30, 2021, Rayont International (L) Ltd had loans receivable of $4,000 from Blue Pacific Academy. The loans receivable was non-interest bearing and due upon request.

As of March 31, 2022 and June 30, 2021, Prema Life Pty Ltd had loans receivable of $2,925 and $nil from Abrar Investments Pty Ltd. The loans receivable was non-interest bearing and due upon request.

As of March 31, 2022 and June 30, 2021, Rayont International (L) Ltd had loans receivable of $31,092 and $nil from director of the company. The loans receivable was non-interest bearing. “Since inception of outstanding balance, the management and its directors have been brought attention to and agreed that there has been violation due to loans to directors and executive offices up to current quarter ended March 31, 2022. As of the date of this report, the management and its directors are still in the process of rectifying the system deficiencies and correcting the errors by end of June 30, 2022.”

Amounts due to related parties

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, the Company had amount due to related parties as follows:

	March 31, 2022		June 30, 2021
	September 30, 2022		June 30, 2022
Exit Solutions Pty Ltd	$	4,992	$	-
TheAliKasa Australia Pty Ltd	$	24,957		-
Accounting Business Solutions Pty Ltd		-		1,133
Abrar Investments Pty Ltd		62		62
Xseed Pty Ltd		1,894		-
Tasman Accounting Pty Ltd		3,219		3,453
Abrar Investments Pty Ltd		20,988		-
Ventis Pty Ltd		-		125,162
TheAliKasa Australia		725		-
Total	$	28,238	$	128,677
Director’s loan		-		386,105
Amount due to related parties	$	28,238	$	128,677
Total	$	28,599	$	387,238

F-1520

OnDuring ~~December~~the ~~31,~~quarter ~~2020~~ended September 30, 2022 the ~~former~~ director ofhas ~~the~~given ~~Rayont~~a ~~International~~loan ~~(L)~~amount ~~Ltd~~of $15,954 ~~forgave~~to the ~~$16,364,~~subsidiary ~~owed~~Wonder toFoods ~~him~~Retail byPty ~~the~~Ltd ~~Company~~which is ~~and~~used ~~the~~to ~~resulting gain~~pay isthe ~~recorded~~acquisition asof ~~additional~~the ~~paid-in~~assets ~~capital.~~and ~~The~~a ~~difference~~loan amount of $~~323~~9,003 ~~was~~to ~~paid~~No ~~back~~More Knots (Clayfield) Pty Ltd, to ~~the~~support ~~director~~its operations. Those loans are non-interest bearing, payable on demand and unsecured.

On ~~August~~May 14, ~~2021~~2022 the ~~director~~Ventis Partners Pty Ltd has given a loan amount of $~~386~~125,~~105~~162 which is used to pay the ~~property~~properties that isare ~~bought~~acqured from Rayont ~~Prema~~Properties ~~Life~~ Pty Ltd. This loan ~~has~~is 3% non-interest ~~per~~bearing ~~annum~~and payable on demand. The subsidiary is sold on September 1, 2022 and itthis loan is ~~fully~~not ~~settled~~part of the balance sheet as of ~~December~~September 3130, ~~2021~~2022.

~~The~~On ~~other~~June ~~amounts~~5, ~~due~~2022 tothe ~~related~~Tasman ~~parties~~Accounting ~~were~~Pty ~~non-interest~~Ltd ~~bearing~~has ~~and~~given ~~payable~~a onloan ~~demand.~~amount ~~The~~of ~~amounts~~$3,453 ~~were~~which is used to ~~support~~pay ~~its~~the operation, expenses of No More Knots to(Taringa) ~~acquire~~Pty ~~the~~Ltd. ~~property~~This loan is non-interest bearing and payable on demand.

The other amounts due to related parties were non-interest bearing and payable on demand. The amounts were used to support its operation, to acquire the properties.

NOTE 11 - COMMITMENTS AND CONTINGENCIES

The Company has no commitment or contingency as of ~~March~~September 3130, 2022.

NOTE 12 – OTHER INCOME

Other income was $~~514~~866,~~320~~947 and $~~782,545~~nil for the ~~nine~~three months ended ~~March~~September 3130, 2022 and 2021, respectively. This income for ~~nine~~three months ended September ~~March 31~~30, 2022 was mainly due to gain on disposal of the subsidiaries Rayont ~~Technologies~~(Australia) Pty Ltd, ~~and~~Prema ~~Rayont~~Life ~~Technologies~~Pty ~~(M)~~Ltd ~~Sdn~~and ~~Bhd~~Rayont Properties Pty Ltd on ~~January~~September 311, 2022 ~~and~~in ~~debt~~the ~~forgiven. This~~amount ~~income~~of ~~for~~$474,026; ~~nine~~the ~~months~~amount ~~ended~~of ~~March 31~~$93,713 ~~2021~~from ~~was~~debt ~~mainly~~waiver ~~due~~by topayable ~~tax incentive/grant obtained~~ in ~~relation~~two tosubsidiaries ~~approved~~of ~~research and~~the ~~development~~Company; ~~activities~~The ~~carried~~amount ~~out,~~of ~~due to ATO COVID19 Job Seeker~~$299,208 ~~Cash~~that ~~Flow~~is ~~Boost~~generated ~~incentives~~as ~~from~~a ~~Australian~~result ~~Government~~of ~~and~~the ~~gain~~sale ~~on purchase~~ of ~~assets~~three ~~from~~subsidiaries ~~Workstar~~Rayont ~~Tech~~ (~~Aust~~Australia) Pty Ltd~~. On October 15~~, ~~2020,~~Prema ~~the Company entered into an agreement to purchase the assets~~Life ofPty ~~Workstar~~Ltd ~~Tech~~and ~~(Aust)~~Rayont Properties Pty Ltd, ~~from~~on anSeptember ~~individual~~1, ~~towards~~2022 ~~purchase~~in ofthe ~~fair~~consolidation ~~value~~ of ~~USD476,594.32 (AUD632,393) for~~the ~~purchase~~financial ~~consideration~~statements of ~~USD228,258~~the group.~~35 (AUD302,876).~~

NOTE 13 – OTHER RECEIVABLES AS CURRENT ASSETS

OnAs of ~~January~~September 3130, 2022~~, two~~ ~~subsidiaries are disposed. One subsidiary Rayont Technologies (M) Sdn Bhd is disposed for the amount of USD40,000~~ and ~~the~~June ~~other subsidiary Rayont Technologies Pty Ltd is disposed for the amount of $660~~30,~~000.~~ ~~The purchase price for both companies in the amount of USD700~~2022,~~000 is~~ ~~not~~other ~~done~~receivables ~~with~~as ~~cash~~current ~~but in the form of shares issued of buyer. Quantum Capital Inc (the buyer) issued 3~~assets,~~494,176~~ ~~shares~~consisted ~~to the Rayont (Australia) Pty Ltd for the 100%~~ of the issued and outstanding common stock of Rayont Technologies Pty Ltd owned from Rayont (Australia) Pty Ltd and 100% of the issued and outstanding common stock of Rayont Technologies (M) Sdn Bhd owned from Rayont (Malaysia) Sdn Bhd.following:

InSCHEDULE ~~addition,~~OF ~~Quantum~~OTHER ~~Capital~~RECEIVABLES ~~Inc~~AS ~~issued~~CURRENT 314,995 more shares to the Rayont (Australia) Pty Ltd as a repayment for the loan that Rayont Technologies (M) Sdn Bhd has received from Rayont International (L) Labuan (one subsidiary of the Rayont Inc) and Rayont (Malaysia) Sdn Bhd. This loan balance as per date of this agreement is USD63,104.ASSETS

NOTE 14 - SUBSEQUENT EVENTS

	September 30, 2022		June 30, 2022
Sale of exclusive license for PhotosoftTM technology	$	2,492,899		2,500,000
R&D grant		-		175,225
Prepayment of the Value Added Tax		15,741		27,652
Retainer fee		20,000		20,000
Deposits		40,051		42,952
Shares issued as a prepayment		482,781		-
Total	$	3,051,472	$	2,765,829

Rayont Inc., through its wholly owned subsidiary No More Knots Holdings Pty Ltd, completed the acquisition of the No More Knots Group of companies, the largest provider of Remedial Massage and Myotherapy services in Australia. It has acquired 100% of the total outstanding shares and units of No More Knots Pty Ltd, No More Knots (Taringa) Pty Ltd and No More Knots (Newmarket) Pty Ltd in exchange for USD2,200,000 (AUD 3,000,000) cash, payable in two tranches. The first tranche of USD 1.8M was payable before or on 1 April, 2022 and the second tranche of USD400,000 is payable before or on July 15, 2022 The payment is done on May 4, 2022.F-21

FAs of September 30, 2022, the Company had other receivables in the amount of $2,492,899 which is compound from the sale of Rayont International’s exclusive license for registering and commercializing PhotosoftTM technology for treatment of all cancers across Sub-16Sahara African region on June 29, 2022 in the amount of $2,500,000 that will be paid from the buyer based on a repayment schedule; prepayment of the Value Added Tax in the amount of $15,741 from some subsidiaries; Rayont Inc has paid an retainer fee in the amount of $20,000 but has not received the service and $155 as deposit for the service received; a deposit done from No More Knots Holdings Pty Ltd in the amount of $27,615 for the lease rent; a deposit done from Wonder Foods in the amount of $12,281 for lease rent; the Company issued 1,524,044 of its shares to the shareholder of record of The Skin DNA Company Pty Ltd. for the acquisition 100% of the total outstanding shares and units of The SkinDNA Company Pty Ltd, totaling $482,781 on August 22, 2022 but given the fact that The Company received a termination request from the former shareholders of The SkinDNA Company Pty Ltd, those shares are considered as other receivable and not investment.

As of June 30, 2022, the Company had other receivables in the amount of $2,765,829 which is compound from the sale of Rayont International’s exclusive license for registering and commercializing PhotosoftTM technology for treatment of all cancers across Sub-Sahara African region on June 29, 2022 in the amount of $2,500,000 that will be paid from the buyer based on a repayment schedule; $175,225 arose due to tax incentive/grant obtained in relation to approved research and development activities carried out by subsidiary Prema Life Pty Ltd; prepayment of the Value Added Tax in the amount of $27,652 from some subsidiaries; Rayont Inc has paid an retainer fee in the amount of $20,000 but has not received the service and $155 as deposit for the service received; a deposit done in trust account from Rayont (Australia) Pty Ltd in the amount of $29,623 for the acquisitions after June 30, 2022: a deposit done from Wonder Foods in the amount of $13,174 for lease rent.

NOTE 14 – OTHER ASSETS AS NON-CURRENT ASSETS

As of September 30, 2022 and June 30, 2022, other assets as non-current assets, consisted of the following:

SCHEDULE OF OTHER NON-CURRENT ASSETS

	September 30, 2022		June 30, 2022
Available for Sale Security	$	668,281	$	716,872
Deposits		49,632		50,784
Total	$	717,912	$	767,656

As of September 30, 2022 the Company had other assets in the amount of $668,281 which is compound from the shares that Rayont (Australia) Pty Ltd has received from another public company Quantum Capital Inc. as a payment for the sale of its subsidiaries on January 31, 2022 in the amount of $668,281; a deposit done from No More Knots (Taringa) Pty Ltd for lease rent in the amount of $12,850; a deposit done from No More Knots (Newmarket) Pty Ltd for lease rent in the amount of $34,492 and a deposit done from Health Script Pty Ltd for lease rent in the amount of $ 2,290.

F-22

As of June 30, 2022, the Company had other assets in the amount of $767,656 which is compound from the shares that Rayont (Australia) Pty Ltd has received from another public company Quantum Capital Inc. as a payment for the sale of its subsidiaries on January 31, 2022 in the amount of $716,872; a deposit done from No More Knots (Taringa) Pty Ltd for lease rent in the amount of $13,784; a deposit done from No More Knots (Newmarket) Pty Ltd for lease rent in the amount of $37,000.

NOTE 15 – OTHER RECEIVABLES AS NON-CURRENT ASSETS

As of September 30, 2022 and June 30, 2022, other receivables as non-current assets, consisted of the following:

	September 30, 2022		June 30, 2022
Sale of the equipment for the cancer treatment	$	932,048	$	1,002,632
Other		6,437		6,905
Total	$	938,485	$	1,009,537

As of September 30, 2022, the Company had other receivables in the amount of $938,485 which is compound from the sale of the equipment for the cancer treatment on June 29, 2022 from Rayont (Australia) Pty Ltd in the amount of $932,048 that will be paid from the buyer based on a repayment schedule; the other receivables in the amount of $6,437 that has subsidiary Wonder Foods Retail Pty Ltd.

As of June 30, 2022, the Company had other receivables in the amount of $1,009,537 which is compound from the sale of the equipment for the cancer treatment on June 29, 2022 from Rayont (Australia) Pty Ltd in the amount of $ 1,002,632 that will be paid from the buyer based on a repayment schedule; the other receivables in the amount of $6,905 that has subsidiary Wonder Foods Retail Pty Ltd.

NOTE 16 – RIGHT-OF-USE ASSET AND OPERATING LEASE LIABILITIES

Operating leases are accounted for on the balance sheet within the right-of-use (“ROU”) assets and lease liabilities recognized in “Operating lease liabilities - current” and “Operating lease liabilities – non-current,” respectively.

Lease assets and liabilities are recognized at the lease commencement date. Lease liabilities are measured at the present value of the lease payments not yet paid. To determine the present value of lease payments not yet paid, the Company estimates borrowing rates corresponding to the maturities of the leases based on prevailing financial market conditions, comparable company and credit analysis, and management judgment. ROU assets measured based on the lease liability and no initial direct costs, prepaid or deferred rent, and lease incentives.

The Company recognizes expense for these leases on a straight-line basis over the lease term and also considered annual incremental charges.

Lease related costs recognized in the statements of operations for the quarter ended September 30, 2022

SCHEDULE OF LEASE RELATED COSTS

		Lease 1				Lease 2				Lease 3
Operating lease expenses		$	12,393				15,707				13,288

Supplemental balance sheet information related to leases is as follows:

	Lease 1		Lease 2		Lease 3
Operating Leases	September 30, 2022
	Lease 1		Lease 2		Lease 3
Right-of-use assets	$	-		252,454		202,569

Lease liabilities - current		-		54,929		39,902
Lease liabilities - non-current		-		197,524		162,667
Total lease liabilities	$	-		252,454		202,569

	September 30, 2022
Weighted Average Remaining Lease Terms
Lease 1		0 months
Lease 2		4 years 2 months
Lease 3		4 years 7 months

Discount Rate
Lease 1		2.91	%
Lease 2		2.42	%
Lease 3		2.83	%

F-23

SCHEDULE OF OPERATING LEASES MATURITY

Operating Leases	Lease 1		Lease 2			Lease 3
2023	$	-		60,258			44,954
2024		-		62,367			46,527
2025		-		64,549			48,156
2026		-		66,809			48,433
2027		-		11,326			27,687
Thereafter
Total lease payments		-		265,308			215,756
Less: imputed interest		-		(12,855	)		(13,187	)
Present value of lease liabilities	$	-		252,454			202,569

NOTE 17 – GOODWILL

Goodwill is the excess of cost of an acquired entity over the fair value of amounts assigned to assets acquired and liabilities assumed in a business combination. Under the guidance of ASC 350, goodwill is not amortized, rather it is tested for impairment annually, and will be tested for impairment between annual tests if an event occurs or circumstances change that would indicate the carrying amount may be impaired. An impairment loss generally would be recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit and would be measured as the excess carrying value of goodwill over the derived fair value of goodwill. The Company’s policy is to perform an annual impairment testing for its reporting units of each fiscal year. For the quarter ended September 30, 2022, the Company determined there were no indicators of impairment of goodwill.

On April 1, 2022 under the agreement Rayont Inc., through its wholly owned subsidiary No More Knots Holdings Pty Ltd, acquired 100% of the total outstanding shares and units of No More Knots Pty Ltd, No More Knots (Taringa) Pty Ltd and No More Knots (Newmarket) Pty Ltd in exchange for AUD3,000,000 (approximately USD 2,247,865) cash, payable in two tranches. The first trench of USD1,910,685 (AUD2,550,000) is paid on May 4, 2022 and the second tranche of USD337,180 (AUD450,000) is payable before or on January 31, 2023 if three conditions are met namely;

1. Achievement of EBIDTA of USD500,000 (AUD700,000) by June 30, 2022.

2. Former owner remain and transition the business until December 31, 2022.

3. Complete the opening of new branch by December 31,2022.

As of June 30, 2022 the business failed to meet the first condition so the amount of the USD110,000 (AUD150,000) has been deducted from the purchase price. The remaining conditions have been met by the vendor and as of December 29,2022 is unconditional and it has been agreed to be paid on 31 January 2023.

No More Knots is home to over 45 tertiary qualified therapists who specialise in Remedial Massage and Myotherapy

F-24

The Company accounted for the transaction as a business combination in accordance ASC 805 “Business Combinations”. The Company is in the process of performing an allocation of the purchase price paid for the assets acquired and the liabilities assumed. The fair values of the assets acquired, as set forth below, are considered provisional and subject to adjustment as additional information is obtained through the purchase price measurement period (a period of up to one year from the closing date). The provisional allocation of the purchase price is based on management’s preliminary estimates. The management completed its analysis to finalize the purchase price allocation.

SCHEDULE OF PURCHASE PRICE ALLOCATION

No More Knots Pty Ltd

Purchase consideration	$	1,834,567
Fair value of the net assets acquired and liabilities assumed	$	94,326
Goodwill	$	1,740,241

No More Knots (Ipswich) Pty Ltd

Purchase consideration	$	531,059
Fair value of the net assets acquired and liabilities assumed	$	0
Goodwill	$	531,059

NOTE 18 - SEGMENT REPORTING

ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about services categories, business segments and major customers in financial statements. The Company has reportable segment based on business unit, nutritional supplements and myotherapy; software and content business and reportable segment based on country, Australia and Malaysia.

In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes.

	For the Quarter Ended and As of
By Business Unit	September 30, 2022
	Nutritional Supplements and Myotherapy			Other Segment			Total
Revenue	$	1,368,677			0		$	1,368,677

Cost of revenue		(570,415	)		0			(570,415	)
General and administrative expenses		(891,842	)		(155,707	)		(1,047,549	)

Loss from operations		(93,580	)		(155,707	)		(249,287	)

Total assets	$	8,980,404			0		$	8,980,404
Capital Expenditure
Property and equipment		0			512,409		$	512,409
Intangible assets		0			307,416		$	307,416

	For the Year Ended and As of
	June 30, 2022
By Business Unit	Nutritional Supplements and Myotherapy			Other Segment			Total
Revenue	$	2,839,357			0		$	2,839,357

Cost of revenue		(1,456,733	)		0			(1,456,733	)
General and administrative expenses		(2,238,213	)		(630,705	)		(2,868,918	)

Loss from operations		(855,589	)		(630,705	)		(1,486,294	)

Total assets	$	14,193,235			0		$	14,193,235
Capital Expenditure
Property and equipment		0			6,241,049		$	6,241,049
Intangible assets		0			0		$	0

F-25

	For the Quarter Ended and As of
	September 30, 2022
By Country	Malaysia		Australia			Other Segment			Total
Revenue	$	0	$	1,368,677			0		$	1,368,677

Cost of revenue		0		(570,415	)		0			(570,415	)
General and administrative expenses		0		(891,842	)		(155,707	)		(1,047,549	)

Loss from operations		0		(93,580	)		(155,707	)		(249,287	)

Total assets	$	0	$	8,980,404			0		$	8,980,404
Capital Expenditure
Property and equipment	$	0		0			512,409		$	512,409
Intangible assets	$	0		0			307,416		$	307,416

	For the Year Ended and As of June 30, 2022
By Country	Malaysia		Australia			Other Segment			Total
Revenue	$	0	$	2,839,357			0		$	2,839,357

Cost of revenue		0		(1,456,733	)		0			(1,456,733	)
General and administrative expenses		0		(2,238,213	)		(630,705	)		(2,868,918	)

Loss from operations		0		(855,589	)		(630,705	)		(1,486,294	)

Total assets	$	0	$	14,193,235			0		$	14,193,235
Capital Expenditure
Property and equipment	$	0		0			6,241,049		$	6,241,049
Intangible assets	$	0		0			0		$	0

NOTE 19 - SIGNIFICANT EVENT

NOTE 20 - SUBSEQUENT EVENTS

The Company has evaluated any other events occurring from September 30, 2022 through the date these financial statements were issued and determined there are no additional events requiring disclosure.

F-26

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes, and other financial information included in this Form 10-Q.

Our Management’s Discussion and Analysis contains not only statements that are historical facts, but also statements that are forward-looking. Forward-looking statements are, by their very nature, uncertain and risky. These risks and uncertainties include international, national, and local general economic and market conditions; our ability to sustain, manage, or forecast growth; our ability to successfully make and integrate acquisitions; new product development and introduction; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; the loss of significant customers or suppliers; fluctuations and difficulty in forecasting operating results; change in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; the ability to protect technology; the risk of foreign currency exchange rate; and other risks that might be detailed from time to time in our filings with the Securities and Exchange Commission.

Although the forward-looking statements in this Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by them. Consequently, and because forward-looking statements are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. You are urged to carefully review and consider the various disclosures made by us in this report as we attempt to advise interested parties of the risks and factors that may affect our business, financial condition, and results of operations and prospects.

Overview

Rayont Inc. (formerly Velt International Group Inc., or “Rayont” or the “Company”) is a Nevada corporation formed on February 7, 2011. The Company’s common stock are currently traded on the Over the Counter Pink Sheet under the symbol “RAYT”.

On January 22, 2019, the Company entered into an acquisition agreement with Rayont Australia Pty Ltd (formerly known as “THF Holdings Pty Ltd”), an Australian corporation and Rural, pursuant to which the Company acquired 100% of the issued and outstanding capital stock of THF Holdings Pty Ltd. in exchange for 4,000,000 shares of the Company’s common stock, valued on January 22, 2019 at $1,000,000. THF Holdings Pty Ltd. is an Australian Cancer treatment and medical device company. Rural is the majority shareholder of THF Holdings Pty Ltd. In March 2019, the acquisition of THF Holdings Pty Ltd. was completed and THF Holdings Pty Ltd. became a subsidiary of the Company. In addition, the acquisition was accounted for business combination under common control of Rural. On August 25, 2020, the name THF Holdings Pty Ltd. was changed to Rayont (Australia) Pty Ltd. (“Rayont Australia”).

On August 26, 2020, the Company established Rayont Technologies Pty Ltd. (Rayont Technologies) through Rayout Australia. Rayont Technologies is an Australian corporation and is engaged primarily in digital learning solutions to support the development of people skills that drive business growth.

On September 30, 2020, the Company acquired all of the issued and outstanding capital stock of Rayont International (L) Limited (Rayont International), a Malaysian company. The purchase price paid by the Company was 25,714,286 shares of its common stock valued at $1,800,000 or $0.07 per share, which was the closing price of the Company’s common stock on the OTC Markets on September 29, 2020. Rayont International is a clinical-stage life sciences company that holds the exclusive license for registering and commercializing PhotosoftTM technology for treatment of all cancers across Sub-Sahara African region. The technology has been licensed in Australia, New Zealand, China, Malaysia and Sub-Sahara Africa.

On October 15, 2020, Rayont Technologies Pty Ltd entered into an agreement with Ms. Kayla Ranee Smith to purchase the assets of Workstar Tech (Aust) Pty Ltd for USD215,017.19 (AUD302,876.22) payable over 90 days upon Ms Smith transfers the assets to Rayont Technologies Pty Ltd. The assets that Rayont Technologies acquired under the agreement includes trademark, website, software, office assets and customer contracts.

On ~~December~~November 2319, ~~2020~~2018, ~~Rayont~~the ~~Australia~~Company’s ~~Pty~~former ~~Ltd~~principal shareholder, aMr. ~~wholly-owned~~Chin ~~subsidiary~~Kha ofFoo, ~~Rayont~~entered ~~Inc.~~into ~~(the~~a ~~“Company”),~~stock ~~acquired~~purchase ~~all~~agreement to transfer 60% of the Company’s issued and outstanding ~~capital~~shares ~~stock~~to ofRural ~~Prema~~Asset ~~Life~~Management ~~Pty~~Services, ~~Ltd~~Inc., ana ~~Australian~~Malaysian Labuan company (“~~Prema Life~~Rural”)~~, from TheAlikasa (Australia)~~. ~~Pty~~On ~~Ltd~~December 14, ~~Prema Life’s sole shareholder. The acquisition of Prema Life was completed~~2018, ~~and~~Rural ~~Prema Life~~ became ~~a subsidiary of~~ the ~~Company.~~ ~~Prema~~principal ~~Life~~shareholder ~~is a HACCP certified manufacturer and supplier~~ of ~~functional~~the ~~foods~~Company and ~~supplements, and of practitioner only naturopathic and homeopathic medicines~~Mr. ~~Prema~~Ali ~~Life~~Kasa ~~produces~~was anappointed ~~extensive~~to ~~range~~be ofthe ~~products including proteins~~Company’s President, ~~green blends~~CEO, ~~sports nutrition~~CFO, ~~weight management~~ and ~~maintenance,~~Secretary ~~and~~due health and wellness products. In addition, the acquisition was accounted for business combination under common control. The method of accounting for such transfers, as well as the acquisition of businesses, was similar to the ~~pooling~~change ~~of interest’s method of accounting. Under this method, the carrying amount of net assets recognized~~ in ~~the~~control ~~balance sheets~~ of ~~each combining entity are carried forward to~~ the ~~balance sheet of the combined entity~~Company. ~~The~~Rural ~~amount by which the proceeds paid by the Company differs from Prema Life’s historical carrying value of the acquired business~~ is ~~accounted~~an ~~for~~equity asinvestment acompany ~~return~~with ~~of capital or contribution~~portfolio of ~~capital.~~interest Inin ~~addition~~biotechnology, ~~transfers~~healthcare, ofcancer ~~net~~treatment ~~assets~~research ~~between~~and ~~entities~~technology, ~~under~~ICT ~~common~~and ~~control~~Crypto ~~were~~Currency. ~~accounted~~Rural ~~for~~has asinvested ifto ~~the transfer occurred~~companies ~~from~~located ~~the~~in ~~date~~Malaysia, ~~that~~Australia ~~the Company~~ and the ~~acquired business were both under the common control and had begun operations~~USA.

On ~~December~~January 2322, ~~2020~~2019, ~~pursuant~~the toCompany entered into an ~~Acquisition~~acquisition ~~Agreement,~~agreement ~~Rayont~~with ~~Australia~~THF Holdings Pty Ltd., aan ~~wholly-owned~~Australian ~~subsidiary~~corporation ofand ~~Rayont~~Rural, pursuant ~~Inc.~~to (which the “Company~~”),~~ acquired ~~all~~100% of the issued and outstanding capital stock of ~~GGLG~~THF ~~Properties~~Holdings Pty ~~LTD,~~Ltd. anin ~~Australian~~exchange ~~company~~for ~~(“GGLG”)~~4, ~~from~~000,000 ~~TheAlikasa~~shares ~~(Australia)~~of ~~Pty~~the ~~Ltd, GGLG~~Company’s ~~sole~~common ~~shareholder~~stock, ~~(the~~valued ~~“Seller”).~~on ~~The~~January ~~Seller~~22, is2019 anat ~~affiliate~~$1,000,000. ofTHF ~~the~~Holdings ~~Company~~Pty ~~and therefore~~Ltd. ~~the acquisition~~ is ~~being~~an ~~treated~~Australian asCancer atreatment and ~~related~~medical ~~party~~device ~~transaction~~company. InRural ~~addition,~~is the ~~acquisition~~majority ~~was~~shareholder ~~accounted~~of ~~for~~THF ~~business~~Holdings ~~combination under~~Pty ~~common control~~Ltd. ~~The~~In ~~method~~March ~~of accounting for such transfers~~2019, ~~as well as~~ the acquisition of ~~businesses,~~THF ~~was similar to the pooling~~Holdings ofPty ~~interest’s method of accounting~~Ltd. ~~Under~~was ~~this~~completed ~~method,~~and ~~the~~THF ~~carrying~~Holdings ~~amount~~Pty ofLtd. ~~net~~became ~~assets~~a ~~recognized~~subsidiary ~~in the balance sheets~~ of ~~each combining entity are carried forward to~~ the ~~balance sheet of the combined entity~~Company. ~~The~~In ~~amount~~addition, ~~by which~~ the ~~proceeds~~acquisition ~~paid~~was ~~by the Company differs from GGLG ‘s historical carrying value of the acquired business is~~ accounted for ~~as a return of capital or contribution~~business ofcombination ~~capital. In addition, transfers of net assets between entities~~ under common control ~~were~~of ~~accounted~~Rural. ~~for~~On asAugust if25, 2020, the ~~transfer~~name ~~occurred from~~THF ~~the~~Holdings ~~date~~Pty ~~that~~Ltd. ~~the~~was ~~Company~~changed ~~and~~to ~~the~~Rayont ~~acquired~~(Australia) ~~business~~Pty ~~were~~Ltd. (“Rayont ~~both~~Australia”). ~~under~~This ~~the~~company ~~common~~was ~~control~~sold ~~and~~on ~~had~~September ~~begun~~1, ~~operations~~2022.

~~The~~On ~~purchase~~January ~~price~~24, ~~is $605~~2019,~~920,~~ ~~which~~the isCompany aentered ~~10%~~into ~~discount~~an ofacquisition ~~the~~agreement ~~total~~with ~~amount~~THF ofInternational ~~GGLG’s~~(Hong ~~net~~Kong) ~~tangible assets~~Ltd., ~~The~~a ~~purchase~~Hong ~~price~~Kong ~~will~~company (“THF beHong ~~paid~~Kong”) inand ~~six~~the ~~installments~~shareholders ~~after~~of aTHF ~~$265~~Hong Kong,~~300~~ ~~down~~pursuant ~~payment.~~to Inwhich the ~~event~~Company anacquired ~~installment~~100% ~~payment~~of isthe ~~not~~issued ~~paid~~and ~~timely,~~outstanding ~~the~~capital stock ~~Seller~~of ~~has~~THF ~~agreed to~~Hong ~~accept~~Kong in exchange for 8,000,000 shares of the Company’s common stock, valued at $~~0.87~~2,000,000 ~~per~~on ~~share~~January 24, 2019. On ~~The~~May ~~price~~13, ~~per~~2019, ~~share~~the isCompany ~~based~~executed onan aamendment ~~20%~~to ~~discount~~the ofacquisition agreement, wherein the ~~average~~Company ~~share~~agreed ~~price~~to acquire only 85% of THF onHong Kong and reduce the ~~OTC~~purchase ~~Markets~~price ~~over~~to 6,800,000 shares from 8,000,000 shares. On August 4, 2019, the ~~last~~Company 30and ~~trading~~the ~~days~~THF Hong Kong agreed to terminate the acquisition.

On ~~February~~January 1824, ~~2021~~2019, the ~~Foreign~~Company ~~Investment~~entered ~~Review~~into ~~Board~~an ~~approved~~acquisition ~~the~~agreement ~~capital~~with ~~stock~~Natural ~~transferring~~Health ofFarm ~~GGLG~~(Labuan) ~~Properties~~Inc. ~~Pty~~(“NHF”) ~~Ltd~~and to the ~~Rayont~~ ~~Australia~~shareholders ~~Pty~~of ~~Ltd.~~NHF, Onpursuant ~~March~~to 9,which ~~2021,~~ the ~~parties~~Company ~~agreed~~acquired to100% ~~amend~~of the ~~acquisition~~issued ~~agreements~~and ~~for~~outstanding ~~the~~capital ~~GGLG~~stock ~~Properties~~of ~~Pty~~NHF ~~Ltd~~in ~~and~~exchange asfor ~~per~~40,000,000 ~~Board~~shares ~~Resolution,~~of the Company’s ~~issued~~common ~~710~~stock,~~713~~ ~~shares~~valued ofat ~~its~~$10,000,000 ~~common~~on ~~stocks~~January in24, ~~leu~~2019. ofNHF ~~payment~~is bya ~~Rayont~~Malaysian ~~Australia~~company ~~Pty~~concentrating ~~Ltd~~on clinical life sciences and holds an exclusive license for registering and commercializing Photosoft technology for treatment of ~~approximately~~all cancers in ~~$605~~the Sub-Sahara African region. The technology has been licensed in Australia,~~920~~ ~~(AUD~~New ~~800~~Zealand,~~000)~~ toChina, ~~TheAlikasa~~Malaysia ~~Pty~~and ~~Ltd~~Sub-Sahara asAfrica. ~~full~~The human clinical trial efforts have started in Australia and ~~final~~China ~~payment~~conducted ~~for~~by ~~the~~Hudson ~~acquisition~~Medical ofInstitute, ~~100%~~Australia. ofOn August 4, 2019, the ~~issued~~Company and ~~outstanding~~NHF ~~common stock~~agreed ofto ~~GGLG~~terminate the acquisition.

On ~~December~~August 2926, 2020, the Company ~~incorporated~~established Rayont ~~Malaysia~~Technologies ~~Sdn~~Pty ~~Bhd~~Ltd. ~~with a paid-up capital of $25 and~~ (Rayont ~~Malaysia Sdn Bhd incorporated on December 31, 2020 Rayont~~ Technologies (M) ~~Sdn~~through ~~Bhd~~Rayont ~~with a paid-up capital of $25 respectively to carry out its business activities in Malaysia~~Australia. ~~On February 5, 2021~~ Rayont Technologies is ~~(M)~~an ~~Pty~~Australian ~~Ltd~~corporation ~~entered~~and ~~into~~is anengaged ~~Asset~~primarily ~~Purchase~~in ~~Agreement~~digital ~~with~~learning ~~Sage~~solutions ~~Interactive Sdn Bhd~~ to ~~purchase~~support ~~its assets in consideration of~~ the ~~payment~~development of ~~USD~~people ~~105,000.00.~~skills ~~These assets include software for remote learning, customer~~that ~~contracts~~drive ~~and~~business ~~digital content~~growth. ~~These~~This ~~assets~~company ~~will~~was ~~operate~~sold inon ~~Malaysia~~January ~~under~~31, ~~Workstar trademark and operation shall be integrated with Rayont Technologies Australia to drive efficiency and scale of digital assets operations~~2022.

On September ~~January 19~~30, ~~2022~~2020, the Company ~~incorporated three~~acquired ~~companies~~all ~~that~~of ~~are~~the Noissued ~~More~~and ~~Knots~~outstanding ~~Holdings~~capital ~~Pty~~stock ~~Ltd,~~of NoRayont ~~More~~International ~~Knots~~(L) Limited (~~Clayfield~~Rayont International), ~~Pty~~a ~~Ltd~~Malaysian ~~and~~company. ~~Wonder~~The ~~Foods~~purchase ~~Retail~~price ~~Pty~~paid ~~Ltd~~by ~~with~~the aCompany ~~paid-up capital~~was 25,714,286 shares of its common stock valued at $721,800,000 or $0.07 per share, which was the closing price of the Company’s common stock on the OTC Markets on September 29, 2020. Rayont International is a clinical-stage life sciences company that holds the exclusive license for ~~each~~registering and commercializing PhotosoftTM technology for treatment of ~~them~~all tocancers ~~carry~~across ~~out~~Sub-Sahara ~~its~~African ~~business~~region. ~~activities~~The technology has been licensed in Australia, New Zealand, China, Malaysia and Sub-Sahara Africa. The exclusive license for License for Sub-Sahara Africa was sold on June 29, 2022 for the amount of USD 2,500,000 to the Nova Medical Group Pty Ltd.

On October ~~January 31~~15, ~~2022~~2020, ~~two~~ ~~subsidiaries~~Rayont ~~are~~Technologies ~~disposed.~~Pty ~~One~~Ltd ~~subsidiary~~entered ~~Rayont~~into ~~Technologies~~an ~~(M)~~agreement ~~Sdn~~with ~~Bhd~~Ms. isKayla ~~disposed~~Ranee ~~for~~Smith to purchase the ~~amount~~assets of ~~USD40~~Workstar Tech (Aust) Pty Ltd for AUD 302,~~000~~876.22 ~~and~~payable over 90 days upon Ms Smith transfers the ~~other~~assets ~~subsidiary~~ to Rayont Technologies Pty Ltd. isThe ~~disposed~~assets that ~~for~~Rayont Technologies acquired under the ~~amount~~agreement ofincludes ~~$660~~trademark,~~000~~ website, software, office assets. ~~Both~~Rayont ~~subsidiaries~~Technologies ~~are~~Pty ~~acquired~~Ltd was ~~from~~sold ~~Quantum~~on ~~Capital~~January ~~Inc~~31, 2022.

~~The~~On ~~World~~December ~~Health~~23, ~~Organization~~2020, ~~designated~~Rayont ~~COVID-19~~Australia asPty Ltd, a ~~global~~wholly-owned ~~pandemic~~subsidiary of Rayont Inc. To(the ~~date~~“Company”), acquired all of the issued ~~Company~~and ~~has~~outstanding ~~experienced~~capital ~~some~~stock ~~adverse~~of ~~impacts;~~Prema ~~however~~Life Pty Ltd, an Australian company (“Prema Life”), from TheAlikasa (Australia) ~~the~~Pty ~~impacts~~Ltd, Prema Life’s sole shareholder. The acquisition of ~~COVID-19~~Prema onLife ~~our~~was ~~operating~~completed, ~~results~~and ~~for~~Prema Life became a subsidiary of the Company. ~~nine~~Prema ~~months~~Life ~~ended~~is ~~March~~a 31HACCP certified manufacturer and supplier of functional foods and supplements, ~~2022~~and of practitioner only naturopathic and ~~the~~homeopathic ~~March~~medicines. 31Prema Life produces an extensive range of products including proteins, ~~2021~~green blends, sports nutrition, weight management and maintenance, and health and wellness products. In addition, the acquisition was ~~limited~~accounted ~~due~~for business combination under common control. The method of accounting for such transfers, as well as the acquisition of businesses, was similar to the ~~nature~~ pooling of interest’s ~~our~~method ~~business~~of accounting. ~~The~~Under ~~extent~~this method, the carrying amount of net assets recognized in the ~~COVID-19~~balance ~~impact~~sheets of each combining entity are carried forward to the balance sheet of the combined entity. The amount by which the proceeds paid by the Company differs ~~will~~from ~~depend~~Prema onLife’s ~~numerous~~historical ~~factors~~carrying ~~and~~value ~~developments~~of ~~related~~the toacquired business is accounted for as a return of capital or contribution ~~COVID-19~~of capital. ~~Consequently~~In addition, ~~any~~transfers ~~potential~~of ~~impacts~~net ofassets ~~COVID-19~~between ~~remain~~entities ~~highly~~under ~~uncertain~~common control were accounted for as if the transfer occurred from the date that the Company and ~~cannot~~the beacquired ~~predicted~~business ~~with~~were ~~confidence~~both under the common control and had begun operations. Prema Life Pty Ltd was sold on September 1, 2022.

On December 23, 2020, pursuant to an Acquisition Agreement, Rayont Australia Pty Ltd, a wholly-owned subsidiary of Rayont Inc. (the “Company”), acquired all of the issued and outstanding capital stock of GGLG Properties Pty LTD, an Australian company (“GGLG”), from TheAlikasa (Australia) Pty Ltd, GGLG’s sole shareholder (the “Seller”). The Seller is an affiliate of the Company and therefore the acquisition is being treated as a related party transaction. In addition, the acquisition was accounted for business combination under common control. The method of accounting for such transfers, as well as the acquisition of businesses, was similar to the pooling of interest’s method of accounting. Under this method, the carrying amount of net assets recognized in the balance sheets of each combining entity are carried forward to the balance sheet of the combined entity. The amount by which the proceeds paid by the Company differs from GGLG ‘s historical carrying value of the acquired business is accounted for as a return of capital or contribution of capital. In addition, transfers of net assets between entities under common control were accounted for as if the transfer occurred from the date that the Company and the acquired business were both under the common control and had begun operations. The purchase price is $605,920, which is a 10% discount of the total amount of GGLG’s net tangible assets. The purchase price will be paid in six installments after a $265,300 down payment. In the event an installment payment is not paid timely, the Seller has agreed to accept shares of the Company valued at $0.87 per share. The price per share is based on a 20% discount of the average share price on the OTC Markets over the last 30 trading days.

On December 29, 2020, the Company incorporated Rayont Malaysia Sdn Bhd with a paid-up capital of $25 and Rayont Malaysia Sdn Bhd incorporated on December 31, 2020 Rayont Technologies (M) Sdn Bhd with a paid-up capital of $25 respectively to carry out its business activities in Malaysia. On February 5, 2021 Rayont Technologies (M) Pty Ltd entered into an Asset Purchase Agreement with Sage Interactive Sdn Bhd to purchase its assets in consideration of the payment of USD 105,000.00. These assets include software for remote learning, customer contracts, digital content and three key employees. These assets will operate in Malaysia under Workstar trademark and operation shall be integrated with Rayont Technologies Australia to drive efficiency and scale of digital assets operations. Rayont Technologies (M) Sdn Bhd was sold on January 31, 2022.

1. Achievement of EBIDTA of USD500,000 (AUD700,000) by June 30, 2022.

2. Former owner remain and transition the business until December 31, 2022.

3. Complete the opening of new branch by December 31,2022.

As of June 30,2022 the business failed to meet the first condition so the amount of the USD110,000 (AUD150,000) has been deducted from the purchase price. The remaining conditions have been met by the vendor and as of December 29,2022 is unconditional and it has been agreed to be paid on 31 January 2023.

No More Knots is home to over 45 tertiary qualified therapists who specialise in Remedial Massage and Myotherapy

● License for Sub-Sahara Africa – USD 2,500,000

● Equipment – USD 1,000,000

On September 1, 2022, Rayont Inc., through its wholly owned subsidiary No More Knots Holdings Pty Ltd incorporated Biomimic Pty Ltd for the amount of $70.

On September 1, 2022, Rayont Inc., through its wholly owned subsidiary No More Knots Holdings Pty Ltd incorporated Health Script Pty Ltd for the amount of $70.

About Rayont Inc

Rayont Inc is a Nevada USA company. Rayont operates in the personalized natural healthcare sector in USA and Australia.

Results of Operations

Comparison of the three months ended ~~March~~September 3130, 2022 and 2021

Revenue

There were $~~464~~1,~~698~~368,677 and $~~951~~687,~~464~~523 revenue generated for the three months ended ~~March~~September 3130, 2022 and 2021, respectively. The ~~decrease~~increase was ~~attributable~~ attributable to revenues generated from ~~Rayont~~new ~~Technologies~~subsidiaries that are acquired like No More Knots Pty Ltd, No More Knots (Taringa) Pty Ltd, No More Knots (Newmarket) Pty Ltd and some other subsidiaries that ~~were~~are ~~lower~~incorporated ~~this~~like ~~period~~Wonder ~~compare~~Foods ~~with~~Retail Pty Ltd, No More Knots (Ipswich) Pty Ltd and Health Script Pty Ltd, that were not part of the ~~three~~Company ~~months~~during the quarter ended on ~~March~~September 3130, 2021. The Company continues looking for other opportunities which could potentially increase the revenues and profits of the Company.

Cost of Goods Sold

There were $~~309~~570,~~440~~415 and $~~340~~329,~~325~~350 cost of goods sold for the three months ended ~~March~~September 3130, 2022 and 2021, respectively. The ~~decrease~~increase was ~~attributable~~ attributable to the ~~decreased~~increased of revenues significantly for the quarter ended ~~March~~September 3130, 2022.

Operating Expense

Our operating expenses consist of selling, general and administrative expenses, depreciation and amortization expense.

For the three months ended ~~March~~September 3130, 2022 and 2021, there were a total of $~~435~~1,~~153~~047,549 and $~~575~~577,~~784~~991 operating expenses, respectively. The ~~decrease~~ increase was primarily due to the ~~decrease~~increase in the ~~selling,~~revenues ~~general~~ and ~~administrative~~increase ~~expenses~~of as the ~~revenues~~staff for the ~~same period is decreased~~Company.

Other Income

Other income was $~~514~~866,~~320~~947 and $~~125,401~~nil for the three months ended ~~March~~September 3130, 2022 and 2021, respectively. This income for three months ended ~~March~~September 3130, 2022 was mainly due to gain on disposal of the subsidiaries Rayont ~~Technologies~~(Australia) Pty Ltd, ~~and~~Prema ~~Rayont~~Life ~~Technologies~~Pty ~~(M)~~Ltd ~~Sdn~~and ~~Bhd~~Rayont Properties Pty Ltd on ~~January~~September 311, 2022 ~~and~~in the amount of $474,026; the amount of $93,713 from debt ~~forgiven.~~waiver ~~This~~by ~~income~~payable ~~for~~in ~~three~~two ~~months~~subsidiaries ~~ended~~of ~~March~~the Company; 31The amount of $299,208 ~~2021~~that ~~was~~is ~~mainly~~generated ~~due~~as toa ~~tax~~result ~~incentive/grant~~of ~~obtained in~~the ~~relation~~sale toof ~~approved~~three ~~research~~subsidiaries Rayont (Australia) Pty Ltd, Prema Life Pty Ltd and ~~development~~Rayont ~~activities~~Properties ~~carried~~Pty ~~out,~~Ltd ~~due~~on toSeptember ~~ATO~~1, ~~COVID19~~2022 ~~Job~~in ~~Seeker~~the ~~and~~consolidation ~~Cash~~of ~~Flow~~the ~~Boost~~financial ~~incentives from~~statements ~~Australian~~of ~~Government~~the group.

Net ~~(Loss)~~Income / ~~Income~~(Loss)

We had a net income of $80501,~~650~~508 for the three months ended ~~March~~September 3130, 2022, and a net ~~income~~loss of $~~147~~267,~~643~~109 for the three months ended ~~March~~September 3130, 2021 based on the factors discussed above.

~~Comparison of the nine months ended March 31, 2022 and 2021~~7

Revenue

There were $1,826,585 and $2,147,704 revenue generated for the nine months ended March 31, 2022 and 2021, respectively. The decrease was attributable to revenues generated from Rayont Technologies Pty Ltd that were lower this period compare with the nine months ended on March 31, 2021. The Company continues looking for other opportunities which could potentially increase the revenues and profits of the Company.

Cost of Goods Sold

There were $999,906 and $865,115 cost of goods sold for the nine months ended March 31, 2022 and 2021, respectively. The increase was attributable to the increased cost of goods sold from Prema Life Pty Ltd from 53 % to 60%.

Operating Expense

Our operating expenses consist of selling, general and administrative expenses, depreciation and amortization expense.

For the nine months ended March 31, 2022 and 2021, there were a total of $1,573,045 and $1,424,106 operating expenses, respectively. The increase was primarily due to the salary expenses incurred for the operating subsidiary, the operating expenses generated from Prema Life, as well as the increase in the depreciation and amortization expense due to the new intangible and tangible assets acquired.

Other Income

Other income was $514,320 and $782,545 for the nine months ended March 31, 2022 and 2021, respectively. This income for nine months ended March 31, 2022 was mainly due to gain on disposal of the subsidiaries Rayont Technologies Pty Ltd and Rayont Technologies (M) Sdn Bhd on January 31, 2022 and debt forgiven. This income for nine months ended March 31, 2021 was mainly due to tax incentive/grant obtained in relation to approved research and development activities carried out, due to ATO COVID19 Job Seeker, Cash Flow Boost incentives from Australian Government and gain on purchase of assets from Workstar Tech (Aust) Pty Ltd. On October 15, 2020, the Company entered into an agreement to purchase the assets of Workstar Tech (Aust) Pty Ltd, from an individual towards purchase of fair value of USD476,594.32 (AUD632,393) for purchase consideration of USD228,258.35 (AUD302,876).

Net (Loss) / Income

We had a net loss of $534,540 for the nine months ended March 31, 2022, and a net income of $609,528 for the nine months ended March 31, 2021 based on the factors discussed above.

Liquidity and Capital Resources

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, the Company had working capital ~~deficit~~ of $21,~~500~~730,~~022~~581 and working capital deficit of $183,~~456~~884,~~964,~~ respectively. The deficit is attributable to loans due to a related party of $28128,~~599 and $387~~677,~~238,~~ ~~respectively;~~ accounts payable of $~~294~~384,~~976 and $99~~355,~~615,~~ ~~respectively;~~ accrued liabilities of $~~299~~470,689 ~~and $472~~,~~021, respectively;~~ loan payable of $2,~~840~~481,~~360 and $2~~440,~~051,554,~~ ~~respectively;~~ other payables of $22278,~~740~~800 and ~~$209,712,~~finance ~~respectively.~~lease As of ~~March 31~~$10, ~~2022 and June 30~~983, ~~2021,~~operating ~~the~~lease ~~Company~~liabilities ~~had~~of $~~994~~112,~~708~~333 ~~and~~at $1June 30,~~771,364~~ ~~in current assets, respectively~~2022.

As of ~~March~~September 3130, 2022 and June 30, ~~2021~~2022, wethe Company had ~~a cash and equivalents balance of~~ $373,~~845~~777,859 and $~~243~~3,~~610~~783,393 ~~respectively.~~in ~~The~~current ~~Company’s operations are primarily funded by the revenue~~assets, ~~other income, proceeds received from the sale of common stock in private placements and financial support from major shareholders~~respectively.

As of September 30, 2022 and June 30, 2020, we had a cash and equivalents balance of $28,921 and $185,782, respectively. The Company’s operations are primarily funded by the revenue, other income, proceeds received from loan payable and financial support from major shareholders.

Cash Flows from Operating Activities

Net cash provided by operating activities was $~~272~~239,~~736~~974 for the ~~nine~~three months ended ~~March~~September 3130, 2022 compared with net cash used by operating activities of $~~103~~89,~~470~~108 for the ~~nine~~three months ended ~~March~~September 3130, 2021. During the nine months ended March 31, 2022, the net cash provided by operating activities was attributed to net loss of $534,540, offset by depreciation and amortization expense of $349,921, shares issued as a compassion for services of $52,500, gain on disposal of investments of $312,143 and payable forgiven of $118,450; an decrease in accounts receivable of $266,761, an decrease in inventory of $75,409, an increase in accounts payable of $189,939, a decrease in accrued liabilities of $165,884, an increase in prepaid expense of $28,640, an increase in other assets of $41,148, an increase in other payable of $200,478 and a decrease in other receivables of $338,533.

During the ~~nine~~three months ended ~~March~~September 3130, ~~2021~~2022, the net cash ~~used~~provided by operating activities was attributed to net income of $~~609~~501,~~528~~508, offset by depreciation and amortization expense of $~~121~~9,~~853~~599, gain on ~~purchase~~disposal of ~~assets~~investments of $~~242~~70,~~934,~~392 and Debt waiver by payable of $93,713; an increase in accounts receivable of $~~552~~116,~~881~~666, an ~~increase~~decrease in inventory of $~~195~~2,~~803~~061, aan ~~increase~~decrease in accounts payable of $80194,~~374~~872, a increase in accrued liabilities of $1155,~~673 5~~609, an ~~increase~~ decrease in prepaid expense of $266,~~001~~713,a ~~decrease~~an increase in ~~advance~~other toassets ~~officer~~ of $2,~~206~~430, aan ~~decrease~~increase in other payable ~~assets~~ of $4719,457 and a decrease in other receivables of ~~$76,141, an increase in other payable~~ of $2223,~~327~~100.

During the three months ended September 30, 2021, the net cash used by operating activities was attributed to net income of $267,109, offset by depreciation and amortization expense of $125,309, an increase in accounts receivable of $102,986, an decrease in inventory of $13,061, an increase in accounts payable of $72,003, a increase in accrued liabilities of $1,673 5, an increase in prepaid expense of $4,073, an increase in other assets of $4,874 an decrease in other receivables of $185,692, an increase in other payable of $64,794.

Cash Flows from Investing Activities

Net cash used in investing activities was $~~874~~508,~~770~~445 for the ~~nine~~three months ended ~~March~~September 3130, 2022 compared with net cash used in investing ~~activities~~ activities of $~~172~~225,~~697~~233 for the ~~nine~~three months ended ~~March~~September 3130, 2021.

During the ~~nine~~three months ended ~~March~~September 3130, 2022, the net cash used in investing activities was attributed to the ~~remaining~~purchases of property and equipment of $72,564, payment in the amount of $~~189~~329,~~511~~457 for purchased of the intangible assets ~~purchased~~ from ~~Workstar~~Health ~~Tech~~Script ~~(Aust)~~ Pty Ltd ~~on October 15, 2020~~ and ~~the~~ payment in the amount of $~~685~~106,~~259~~424 ~~done~~ for the 32acquisition ~~French~~of ~~Avenue~~subsidiaries ~~property~~from ~~Fit~~No ~~Out~~More Holdings Pty Ltd.

During the ~~nine~~three months ended ~~March~~September 3130, 2021, the net cash used in investing activities was attributed to the purchases of property and ~~equipment~~ equipment of $68113,~~779~~624, payment in the amount of $~~105~~111,~~000~~609 for purchased of the intangible assets from Rayont Technologies ~~(M)~~Pty ~~Sdn Bhd and cash from acquisition of company Rayont International (L)~~ Ltd ~~on September 30, 2020 in the amount of $1,082~~.

Cash Flow from Financing Activities

Net cash used in financing activities during ~~the~~three ~~nine~~ months ended ~~March~~September 3130, 2022 and 2021 of $~~454~~100,~~881~~795 and $8916,~~286~~134, respectively; proceeds from loan payable in the amount of $~~765~~132,~~362~~813 and $294,~~334~~693, respectively; repayment to related party in the amount of $~~418~~32,~~697~~018 and $~~494~~20,~~961~~827, respectively; ~~issuance of common stock in the amount of $108,216 and $579,363, respectively; adjustment in additional paid in capital in the amount of $0 and $24,450 respectively.~~

Non-Cash Investing and Financing Activities

During the ~~nine~~three months ended ~~March~~September 3130, 2022, issuance of common stock for business acquisitions in the amount of $~~618~~518,~~320~~175 and ~~the~~ issuance of of common stock for acquisition of aequipment ~~property~~ in the amount of $1185,~~159,040~~350.

During the ~~nine~~three months ended ~~March~~September 3130, 2021, the issuance of common stock for business acquisitions in the amount of $74618,~~384~~320 and ~~forgiveness~~issuance of ~~debt~~common stock for acquisition of a property in the amount of $21,~~016~~159,~~363~~040.

Equity and Capital Resources

We had a net ~~loss~~income for the ~~nine~~three months ended ~~March~~September 3130, 2022 and had an accumulated deficit of $43,~~446~~133,~~944~~435 as of ~~March~~September 3130, 2022. As of ~~March 31~~September 30, 2022, we had cash of $3728,~~845~~921, compared to cash of $~~243~~185,~~610~~782 as of June 30, ~~2021~~2022.

We had material commitments for capital expenditures as of ~~March~~September 3130, 2022 which isare the purchased aof new ~~property~~assets onand 23business ~~September~~for ~~2021 located at 900 Sandgate Road~~USD1, ~~Clayfield QLD~~635,017 from ~~4011,~~Health ~~Australia~~Script ~~for~~Pty ~~USD1~~Ltd,~~159,040,~~ ~~excluding~~No ~~GST,~~More ~~from~~Knots ~~Rayont~~ (~~Australia~~Ipswich) Pty Ltd. We expect our expenses will continue to increase during the foreseeable future as a result of increased operational expenses and the development of potential business opportunities. However, we do not anticipate that the Company will generate revenue sufficient to cover its planned operating expenses in the foreseeable future, and we are dependent on the proceeds from future debt or equity investments to sustain our operations and implement our business plan. If we are unable to raise sufficient capital, we will be required to delay or forego some portion of our business plan, which would have a material adversely effect on our anticipated results from operations and financial condition. There is no assurance that we will be able to obtain necessary amounts of additional capital or that our estimates of our capital requirements will prove to be accurate. As of the date of this Report, we did not have any commitments from any source to provide such additional capital. Even if we are able to secure outside financing, it may not be available in the amounts or the times when we require. Furthermore, such financing would likely take the form of bank loans, private placement of debt or equity securities or some combination of these. The issuance of additional equity securities would dilute the stock ownership of current investors while incurring loans, leases or debt would increase our capital requirements and possible loss of valuable assets if such obligations were not repaid in accordance with their terms.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that we are required to disclose pursuant to these regulations.

Item 3. Quantitative and Qualitative Disclosure about Market Risk

Not applicable.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

The Company has established disclosure controls and procedures to ensure that information required to be disclosed in this quarterly report on Form 10-Q was properly recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms. The Company’s controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Act is accumulated and communicated to the Company’s management, including its principal executive and principal financial officer to allow timely decisions regarding required disclosure.

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) at September 30, 2021 based on the evaluation of these controls and procedures required by paragraph (b) of Rule 13a-15 or Rule 15d-15 under the Exchange Act. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer/Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer/Chief Financial Officer concluded that, at ~~March~~September 3130, 2022, our disclosure controls and procedures were not effective.

Changes in Internal Control over Financial Reporting

There have been no changes in the Company’s internal control over financial reporting that occurred during the Company’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

810

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors

Not applicable to smaller reporting companies.

Item 2. Unregistered Sales of Equity Securities and Use of Proceed.

During the period from July 2021 through March 2022, the Company sold and issued 49,114 shares of common stock to 2 independent investors pursuant to a private placement; 16,614 shares at $2.21; 32,500 shares at $2.20 for a total amount of $108,216. The Company relied upon Section 4(2) and Regulation S of the Securities Act of 1933, as amended, for the sale of these securities. No commissions were paid regarding the share issuance and the share certificates were issued with a Rule 144 restrictive legend.None

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosure.

Not applicable.

Item 5. Other Information.

~~Not~~On ~~Applicable~~September 1, 2022, under the agreement Rayont Inc., sold 100% of the total outstanding shares and units of Rayont (Australia) Pty Ltd, Prema Life Pty Ltd and Rayont Properties Pty Ltd ATF Rayont Property Trust, in exchange for AUD4,944,225 (approximately USD3,352,185) to the buyer Exit Properties Pty Ltd.

On September 3, 2022, under the agreement Rayont Inc., through its wholly owned subsidiary Health Script Pty Ltd, acquired intangible and tangible assets from Prema Life Pty Ltd, in exchange for AUD1,050,000 (approximately USD718,725). The Company accounted for the transaction as a business combination in accordance ASC 805 “Business Combinations”. The Company is in the process of performing an allocation of the purchase price paid for the assets acquired and the liabilities assumed. The fair values of the assets acquired, as set forth below, are considered provisional and subject to adjustment as additional information is obtained through the purchase price measurement period (a period of up to one year from the closing date). The provisional allocation of the purchase price is based on management’s preliminary estimates.

As of the date of this filing the Company has not completed and file its Form 8K for No More Knots Holdings Pty Ltd.’s acquisition as required by the SEC rules and regulations. The Company is in the process of completing all necessary documentation for the Form 8K filling in due time.

The auditor’s review for current version of the Form 10Q has not been completed due to the fact that the valuation report for the acquisition of the business of Ipswich Massage, Prema Life and Tugun Compounding Pharmacy by an independent expert that not been completed. The company is in process of procuring these reports. Thus, as of the date of this filing, the Company’s Form 10Q is incomplete because auditor’s review was not performed and/or completed. Once the auditor’s review is ready, the Company will file an amendment to its Form 10-Q, reflecting that fact.

Item 6. Exhibits.

(a) Exhibits.

Exhibit No.		Document Description
Number		Description
10.1		On January 22, 2019, the Company entered into and closed an Acquisition Agreement with THF Holdings Pty Ltd., an Australian corporation (“THF”)
10.2		On September 30, 2020, pursuant to an Acquisition Agreement, Rayont Inc. (the “Company”), acquired all of the issued and outstanding capital stock of Rayont International (L) Limited, a Malaysian company.
10.3		Assets Purchase Agreement with Workstar Tech (Aust) Pty Ltd
10.4		On December 23, 2020, pursuant to an Acquisition Agreement, Rayont Australia Pty Ltd, a wholly-owned subsidiary of Rayont Inc. (the “Company”), acquired all of the issued and outstanding capital stock of Prema Life Pty Ltd, an Australian company (“Prema Life”)
10.5		On December 23, 2020, pursuant to an Acquisition Agreement, Rayont Australia Pty Ltd, a wholly-owned subsidiary of Rayont Inc. (the “Company”), acquired all of the issued and outstanding capital stock of GGLG Properties Pty LTD, an Australian company (“GGLG”)
31.1		CERTIFICATION of CEO/CFO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEYACT OF 2002
10.6		On March 12, 2021, in the best interests of the Company, the Board appointed Reyad Fezzani to be a Chairman of the Board of Directors of the Company.
10.7		On April 1, 2022, pursuant to an Acquisition Agreement, No More Knots Holdings Pty Ltd, a wholly-owned subsidiary of Rayont Inc. (the “Company”), acquired all of the issued and outstanding capital stock of No More Knots Pty LTD, No More Knots (Taringa) Pty Ltd and No More Knots (Newmarket) Pty Ltd, Australian companies.
10.8		On July 1, 2022, under the agreement Rayont Inc., through its wholly owned subsidiary No More Knots (Ipswich) Pty Ltd, acquired the business of the Ipswich Massage from buyer OneDose Pty Ltd,.
10.9		On September 1, 2022, under the agreement Rayont Inc., through its wholly owned subsidiary Health Script Pty Ltd, acquired the assets of Tugun Compounding Pty Ltd.
10.10		On September 1, 2022, under the agreement Rayont Inc., sold 100% of the total outstanding shares and units of Rayont (Australia) Pty Ltd, Prema Life Pty Ltd and Rayont Properties Pty Ltd ATF Rayont Property Trust to the buyer Exit Properties Pty Ltd.
10.11		On September 3, 2022, under the agreement Rayont Inc., through its wholly owned subsidiary Health Script Pty Ltd, acquired the assets of Prema Life Pty Ltd.
31.1		Certification of our President and Chief Executive Officer, under Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of our Chief Financial Officer, under Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of our President, Chief Executive Officer and Chief Financial Officer, under Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

912

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

RAYONT INC. By: /s/ Marshini Aliya Moodley Marshini Aliya Moodley, President President (Principal Executive Officer), Chief Executive Officer

In accordance with the requirements of the Securities and Exchange Act of 1934, this report has been signed by the following persons on behalf of the Registrant and in the capacities indicated and, on the dates, stated.

/s/ Marshini Moodley		Dated: May 17, 2022
/s/ Marshini Aliya Moodley	Dated: January 17, 2023
Marshini Moodley
Marshini Aliya Moodley
President (Principal Executive Officer), Chief Executive Officer
/s/ Marshini Moodley		Dated: May 17, 2022
/s/ Marshini Aliya Moodley	Dated: January 17, 2023
Marshini Moodley
Marshini Aliya Moodley
Principal Financial Officer and Director

1013

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