RushNet Inc. to Close on Acquisition/Spinoff of HeliosDX and Reveals Future Plans
RushNet, Inc. (OTC PINK:RSHN) announced the closing of its transaction with heliosDX, pending compliance with OTCMarkets audit requirements. The company plans to spin off heliosDX, rewarding shareholders with a dividend of up to 12 shares per 1000 shares owned. Following this, RushNet will also spin off, with further dividends to be detailed soon. Additionally, RushNet is set to acquire Grandeza Healthcare Consultants, projected to generate over $1,000,000 in revenue this year. This strategy aims to maximize shareholder value through operational synergies.
- Shareholders will receive a dividend of up to 12 heliosDX shares for every 1000 RushNet shares owned, enhancing shareholder value.
- The acquisition of Grandeza Healthcare Consultants is expected to generate over $1,000,000 in revenue this year, indicating growth potential.
- Both spinoffs will allow RushNet shareholders to control a significant portion of heliosDX's float, providing further investment opportunities.
- The need for compliance with OTCMarkets audit requirements before closing the transaction may delay the process.
- The announcement does not clarify the financial implications or potential dilution from the spinoffs.
ALPHARETTA, GA / ACCESSWIRE / June 17, 2021 / RushNet, Inc (OTC PINK:RSHN) ("RushNet") with heliosDX is pleased to announce the closing of the transaction with heliosDX, to occur as soon as RushNet, Inc becomes pink current on OTCMartkets and satisfies audit requirements.
Next, RushNet will spinoff heliosDX and soon thereafter RushNet itself, with its current assets, will spinoff. Each spinoff entity will become a publicly traded entity. The heliosDX spinoff will reward RushNet, Inc. shareholders with a dividend of up to 12 shares (one share outright and 11 rights to purchase a share at a discount at the heliosDX price) of heliosDX for every 1000 shares they own, as of the ex-dividend date, to be established soon. The RushNet spinoff will be another dividend to shareholders which will be determined in the near term.
heliosDX will be domiciled in Georgia where the diagnostics company is headquartered. The mechanics will involve heliosDX filing a Form 1-A, Tier 2, to qualify all shares issued in pursuit of this spinoff, thus affording RushNet shareholders the opportunity to acquire additional shares at a discount to the market price. The proceeds from the offering will be utilized to close previously announced targeted acquisition candidates. We currently contemplate that Authorized Shares will be 40,000,000. Approximately
Mr. Sweat is quoted, "we've worked tirelessly to find a way to avoid a reverse split so that we could drive maximum value to the shareholders. We believe we accomplish just that with these spinoffs, while still achieving heliosDX's objectives". heliosDX has shown unprecedented growth over the last two years and plans to move expeditiously to a higher exchange.
After completing both spinoffs, Ashley Sweat will remain as the Chairman and CEO of RushNet, Inc. RushNet Inc. will acquire Grandeza Healthcare Consultants, currently majority owned by Ashley Sweat. Grandeza is in its inaugural year and will achieve more than
Ashley Sweat will remain as the Chairman of the Board of Grandeza Healthcare Consultant. Danielle Bauer, a minority owner of Grandeza, will continue serving as CEO. Grandeza Healthcare is located in Tennesse, where RushNet will Redomicile. Grandeza Healthcare Consultants is the sister company to heliosDX, enjoying operational synergies.
We are committed to providing RushNet shareholders with maximum value, and believe these events capture that value in its entirety.
In short, RushNet Inc. shareholders will retain their current shares in RushNet (to become Grandeza Healthcare Consultants), will receive 1 share outright in heliosDX per 1000 shares owned in RushNet after ex-dividend date. They will also receive, for each share held, rights to purchase at a discount, up to 11 shares in heliosDX per 1000 shares owned in RushNet. Shareholders will also receive a dividend in the RushNet spinoff to be determined soon. In essence, shareholders after the ex-dividend date(s) will be getting a 3 for 1. Of which, 2 of the 3 are established entities with exceptional upside. Lastly, shareholders will have the opportunity to control most of the free trading float in heliosDX.
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. Always staying 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. This allows heliosDX to provide physicians fast and accurate reporting meeting and exceeding industry benchmarks. We excel in patient and client care through physician designed panels that aid in testing compliance and reporting education.
Contact: Ashley Sweat
asweat@heliosdx.com
@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 Companies caution that statements, and assumptions made in this news release constitute forward-looking statements and makes 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 adverse to the pecuniary interests of the Company and of its shareholders.
SOURCE: RushNet, Inc.
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FAQ
What is the significance of the RushNet and heliosDX transaction?
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