RushNet, Inc (RSHN) heliosDX, Grandeza Healthcare issues a Letter to Shareholders
RushNet, Inc (OTC PINK:RSHN) has issued a shareholder letter detailing recent acquisitions and future plans. In July and August 2021, it acquired heliosDX and Grandeza Healthcare, respectively. The company is restructuring its share structure and plans a spin-off of heliosDX, offering shareholders dividends and conversion rights. With projected consolidated revenue of $7.6 million for 2021, the company aims to uplist by summer 2022. Grandeza Healthcare anticipates over $3 million in revenue for 2022, driven by targeted acquisitions.
- Acquisition of heliosDX and Grandeza Healthcare expected to drive revenue.
- Projected consolidated revenue of $7.6 million for 2021.
- Plans for dividend and conversion rights for shareholders.
- Grandeza Healthcare expected to exceed $3 million in revenue in 2022.
- Uplisting to a higher exchange was deemed not viable.
- Company uncertain about the future impact of COVID-19 on operations.
ALPHARETTA, GA / ACCESSWIRE / October 22, 2021 / RushNet, Inc (OTC PINK:RSHN), (the "Company") with its subsidiaries heliosDX and Grandeza Healthcare would like to issue a companywide 'Letter to Shareholders'.
Over the last 7 months, Rushnet, Inc has made several attempts to formulate a plan to restructure the outstanding and authorized share structure. In addition, RushNet, Inc has targeted several key acquisitions to bring substantial revenues and assets into the business. The Company has been able to close on these key acquisitions. The first was heliosDX in July 2021, in exchange for a new Convertible Preferred B and the second in August 2021 for Grandeza Healthcare in exchange for 300,000,000 outstanding shares.
Initially, RushNet, Inc wanted to bring in the acquisition and looked to uplist to a higher exchange or proprietary trading market. Restructuring one way or another was a definite need for Rushnet Inc and its shareholders to benefit from any change. To that end, it was determined by new management that uplisting Rushnet was not a viable or equitable option. In an effort to find a solution that would maximize shareholder benefits, while providing the funding necessary to acquire the next laboratory Rushnet, Inc later announced plans to spin off heliosDX. The shareholders of Rushnet would be issued an aggressive dividend, conversion rights and an opportunity to participate in a special offering.
In a fortuitous turn of events, the company was able to find funding for the acquisition through private capital. At that point, the landscape completely changed due to changing business needs with the signing of a term sheet with a family office to fund the Company's
In that context, RushNet, Inc post-split will become Grandeza Healthcare. Grandeza Healthcare is a young fast-growing company which spun out of heliosDX in 2020. Much like heliosDX, Grandeza Healthcare has experienced a boom in growth the last few years. Management expects and plans more of the same for Grandeza Healthcare. Much of this growth is predicated on future acquisitions contemplated by heliosDX and Grandeza Healthcare. Current plans, if fully executed, should see Grandeza exceed
As of today, the current projections show Rushnet, Inc achieving
About HeliosDx:
heliosDX is a National Clinical Reference Laboratory offering High-Complexity Urine Drug Testing (UDT), Behavioral Drug Testing, Allergy Droplet Cards, Oral Fluids, Infectious Disease (PCR), and NGS Genetic Testing. We are contracted in 44 of the lower 48 states and looking to expand our reach and capabilities. We intend to always stay ahead of the curve by continually investing in our infrastructure with the most efficient scientific proven instruments and latest cutting-edge software for patient and physician satisfaction. In management's opinion, following such best practices are intended to allow heliosDX to provide physicians fast and accurate reporting, meeting, and exceeding industry benchmarks. It is our goal to excel in patient and client care through physician designed panels that aid in testing compliance and reporting education.
About Grandeza Healthcare:
Grandeza Healthcare is a healthcare billing and consulting company. Providing expert billing and coding services to laboratories, medical practices, dental offices, and other medical verticals. In addition to billing, we provide Revenue Cycle Management (RCM) for all clients, as well as customized consulting services. We are a rapidly growing company adding new services and value to further demonstrate our competitive advantage.
Contact: Ashley Sweat
asweat@heliosdx.com
www.heliosdx.com
Twitter Handle: @dx_helios
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). The Company cautions that statements, and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. The Companies undertake no obligation to revise these statements following the date of this news release.
Investor caution/added risk for investors in companies claiming involvement in COVID-19 initiatives -
On April 8, 2020, SEC Chairman Jay Clayton and William Hinman, the Director of the Division of Corporation Finance, issued a joint public statement on the importance of disclosure during the COVID-19 crisis.
The SEC and Self-Regulatory Organizations are targeting public companies that claim to have products, treatment, or other strategies with regard to COVID-19.
The ultimate impact of the COVID-19 pandemic on the Company's operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak. Additionally, new information may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time.
We further caution investors that our primary focus and goal is to battle this pandemic for the good of the world. As such, it is possible that we may find it necessary to make disclosures which are consistent with that goal, but which may be averse to the pecuniary interests of the Company and of its shareholders.
SOURCE: RushNet, Inc.
View source version on accesswire.com:
https://www.accesswire.com/669272/RushNet-Inc-RSHN-heliosDX-Grandeza-Healthcare-issues-a-Letter-to-Shareholders
FAQ
What recent acquisitions did RushNet, Inc (RSHN) make?
What is RushNet, Inc's projected revenue for 2021?
What are the future plans for RushNet, Inc (RSHN)?
How much revenue is Grandeza Healthcare expected to generate in 2022?
What are the implications of COVID-19 for RushNet, Inc (RSHN)?
