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Rayont Inc. – ‘8-K’ for 6/29/22

On:  Thursday, 7/7/22, at 4:02pm ET   ·   For:  6/29/22   ·   Accession #:  1493152-22-18799   ·   File #:  0-56020

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/07/22  Rayont Inc.                       8-K:1,7,9   6/29/22   14:775K                                   M2 Compliance LLC/FA

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     33K 
 2: EX-10.1     Material Contract                                   HTML    107K 
 3: EX-10.2     Material Contract                                   HTML     45K 
 4: EX-10.3     Material Contract                                   HTML     55K 
 5: EX-99.1     Miscellaneous Exhibit                               HTML     11K 
 9: R1          Cover                                               HTML     46K 
12: XML         IDEA XML File -- Filing Summary                      XML     13K 
10: XML         XBRL Instance -- form8-k_htm                         XML     15K 
11: EXCEL       IDEA Workbook of Financial Reports                  XLSX      6K 
 7: EX-101.LAB  Inline XBRL Taxonomy Extension Label Linkbase        XML     97K 
                Document -- rayt-20220629_lab                                    
 8: EX-101.PRE  Inline XBRL Taxonomy Extension Presentation          XML     64K 
                Linkbase Document -- rayt-20220629_pre                           
 6: EX-101.SCH  Inline XBRL Taxonomy Extension Schema Document --    XSD     13K 
                rayt-20220629                                                    
13: JSON        XBRL Instance as JSON Data -- MetaLinks               25±    33K 
14: ZIP         XBRL Zipped Folder -- 0001493152-22-018799-xbrl      Zip     46K 


‘8-K’   —   Current Report


This is an HTML Document rendered as filed.  [ Alternative Formats ]



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 i 0001539778  i false 0001539778 2022-06-29 2022-06-29 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM  i 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  i June 29, 2022

 

 i RAYONT INC.

 

(Exact name of registrant as specified in its charter)

 

 i Nevada    i 000-56020    i 27-5159463

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

 i 228 Hamilton Avenue,  i 3rd Floor,  i Palo Alto,

 i California,  i 94301

1  i (855)  i 801-9792

(Address, including zip code, and telephone number, including area code,

of registrant’s principal executive offices)

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 i  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
 i  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
 i  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
 i  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
 i Common Stock, par $0.001 per share    i RAYT   OTC Markets Group

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  i 

 

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. ☐

 

 

 

 C: 
 
 

 

Item 1.01 Entry into a Material Definitive Agreement

 

On June 29, 2022, pursuant to an Asset Sale Agreement (the “Agreement”), Rayont (Australia) Pty Ltd and Rayont International (Labuan) Ltd, both wholly- owned subsidiaries of Rayont Inc, the Registrant, (hereinafter collectively referred to as the “Seller” ) sold and transferred its license for the Next Generation Photo Dynamic Therapy (“NGPDT”) for Sub-Sahara Africa and its related equipment to Nova Medical Group Pty Ltd. (the “Buyer”), for total consideration of USD $3,500,000 (the “Purchase Price”). The Purchase price consists to $2,500,000 for the license and $1,000,000 for the research equipment associated with the license. The Purchase Price is evidenced by a Loan Agreement dated June 29, 2022 (the “Loan”), from the Buyer to the Sellers in the total amount of $3,500,000 and payable in 36 equal monthly installments, with interest at 8%, commencing on July 31, 2022. The Loan Agreement is secured by a Security Agreement dated June 29, 2022, securing payment of the Loan by all of the assets of the Buyer. The sale of the license and equipment will allow the Registrant to concentrate on its other alternative medical products and procedures business, while at the same time improving its cash and liquidity positions.

 

The foregoing description of the Asset Sale Agreement, the Loan Agreement and the Security Agreement do not purport to be complete and is qualified in their entirety by reference to the complete text of the documents, which are filed as exhibits to this report and is incorporated herein by reference.

 

Item 7.01 Regulation FD Disclosure

 

On June 29, 2022, the Registrant issued a press release announcing the sale of the NGPDT license and equipment thereto, to Nova Medical Group Pty Ltd. A copy of the press release is being furnished as Exhibit 99.1 hereto and is incorporated into this Item 7.01 by reference.

 

The information furnished pursuant to Item 7.01, including Exhibits 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing of Basic’s under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
10.1   Asset Sale Agreement (License and Equipment) between Nova and the Registrant’ subsidiaries dated June 29, 2022.
10.2   Loan Agreement between Nova and the Registrant’ subsidiaries dated June 29, 2022.
10.3   Security Agreement between Nova and the Registrant’ subsidiaries dated June 29, 2022.
99.1   Press Release issued June 29, 2022
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

  RAYONT INC.
   
Dated: July 7, 2022 By:  /s/ Marshini Aliya Moodley
    Marshini Aliya Moodley
    CEO and President

 

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Dates Referenced Herein

This ‘8-K’ Filing    Date    Other Filings
7/31/22None on these Dates
Filed on:7/7/22
For Period end:6/29/22
 List all Filings 


1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/05/23  Rayont Inc.                       CORRESP11/28/23    1:112K                                   M2 Compliance LLC/FA
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