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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