RushNet, Inc with heliosDX Announces Roadmap Update, Dividend Enhancements, and Acquisition Update

Rhea-AI Summary

RushNet, Inc. (OTC PINK:RSHN) has provided an update on its roadmap, highlighting the acquisition of heliosDX and the enhancement of spinoff dividends. Key developments include the completion of disclosures, a record-breaking financial update, and the cancellation of a reverse stock split. RushNet shareholders are set to receive shares of heliosDX and have the exclusive right to purchase additional shares at a significant discount. The recent Binding Letter of Intent with a private lab could potentially triple heliosDX's annual revenue, bolstering future growth prospects.

Positive

• RushNet announced the acquisition of heliosDX, expected to triple annual revenue.
• The company reported record-breaking financial performance in its latest update.
• RushNet shareholders will receive shares of heliosDX and can purchase additional shares at a 50% discount.

Negative

• If heliosDX fails to raise a minimum of $8 million for acquisitions, traditional funding methods may be sought.

ALPHARETTA, GA / ACCESSWIRE / July 6, 2021 / RushNet, Inc. (OTC PINK:RSHN), ("the Company") with target acquisition heliosDX, is pleased to announce an update to the Roadmap, which was included in the June 1, 2021 Press Release. We will also highlight the spinoff dividend enhancement, and acquisition for heliosDX and RushNet, Inc.

Completed:

• Filing Disclosures
• Filing Financials
• Attorney Letter
• Mid/2nd Quarter Financial Update (Record Breaking)
• Pink Current
• Website transition chattahoocheelabs.com to heliosDX.com
• Professional Sales and Marketing Video
• R/S Officially Canceled
• *NEW: Hiring a Director of Virtual Sales - Completed

In Progress and Updates:

• Audit Financials - Will Reach Satisfactory Audit
• Spinoff RushNet, Inc Subsidiaries - Hold; Pending heliosDX Spinoff
• Lab Acquisition(s) and/or LOI Update - Target Close Date Late 3^rd Quarter
• Complete the Merger/Acquisition (heliosDX by RushNet) - Imminent
• Reengage FINRA - Part of Spinoff Process
• SEC Reporting - Pending Spinoff
• Preparation of Application to SEC & FINRA
• Launch National Sales Campaign Utilizing Verb Technologies - August 1, 2021

New Items:

• RushNet Acquisition of Grandeza Healthcare -In Progress
• heliosDX Opening Executive Offices in Florida - Pending Lease Signature
• Announcement of Board Members - Coming in 3^rd Quarter
• Hiring of Executive Team - Ongoing, Will post positions VIA LinkedIn

We previously announced upon the spinoff of heliosDX, the RushNet, Inc shareholders would have access and receive the following:

1. Receive One Share of heliosDX per 1,000 shares of RushNet owned upon close on the ex-dividend date.
2. RushNet shareholders would have access to purchase 11 shares of heliosDX per 1,000 shares of Rushnet, Inc at a discount to market upon the close on the ex-dividend date.
3. Rushnet shareholders as of the close on the ex-dividend date would also receive a dividend in the legacy RushNet, Inc upon spinoff. The dividend is yet to be determined.

Example: If you owned 1,000,000 of RushNet upon close on the ex-dividend date you would receive 1,000 shares of heliosDX. You would also have the exclusive right to purchase 11,000 additional shares of heliosDX at a discount to market. You also receive a dividend in the RushNet legacy to be spun off later.

Since heliosDX burst onto the public scene approximately 90 days ago, we have stressed transparency and shareholder value. These two pillars remain constant today. Previously, we announced the signing of a Binding Letter of Intent with a Privately held Laboratory, which would triple heliosDX annual revenue. In addition, the acquisition also significantly increases the company's bandwidth and sales reach. heliosDX has demonstrated over the last few years the ability to drive test volume and revenue. The company had annual revenues in 2019 of $2.6M, 2020 of $4.29M, and in 2021 trending $6M. We have also seen the profitability of the company follow right along. We believe, as we continue to grow organically, along with acquisitions we can reach $50,000,000 in annual revenue in two years. This first acquisition should yield annual revenues for heliosDX of $25,000,000 after a full 12 months. The exclusive offering to RushNet shareholders is paramount to current and future acquisitions. heliosDX does not need funds for ongoing operations. As mentioned, we are profitable and have been profitable. The proceeds from the exclusive offering are solely for company growth and acquisition(s). This drives company value, and equally important, shareholder value.

Finding a balance with the spinoff dividend to drive shareholder value and allow the company to raise the funds necessary to complete the acquisition(s) is vital. With that in mind, below is the enhanced spinoff dividend and exclusive discount offer to RushNet Inc shareholders.

1. Receive One Share of heliosDX per 800 shares of RushNet owned upon close on the ex-dividend date.
2. RushNet shareholders have access to purchase 11 additional shares of heliosDX per 1,000 shares of Rushnet, Inc at a 50% to market upon the close on the ex-dividend date.
3. For every 10 shares purchased during the offering period at the discount to market of 50% the shareholder receives one additional share of heliosDX
4. The offering price of heliosDX will be preacquisition
5. Rushnet shareholders as of the close on the ex-dividend date would also receive a dividend in the legacy RushNet, Inc upon spinoff. This dividend is yet to be determined.

Example: If you owned 1,000,000 of RushNet upon close on the ex-dividend date you would receive 1,250 shares of heliosDX. You would also have the exclusive right to purchase 11,000 additional shares of heliosDX at a 50% discount to market. Now, if you bought 5,000 shares at the discount during the offering period you would receive an additional 1 share for every 10 shares purchased or in this case 500 shares.

Should heliosDX not raise a minimum of $8,000,000 in funding for acquisitions and future growth, we would then seek a more traditional offering to raise the funds necessary to accomplish the company's initiatives. Also note, the ex-dividend date will be set once the audits are finalized and the application is submitted to the appropriate channels. In an effort to stay timely, the documents are being prepared so that a an immediate submission can occur upon completion of the audits.

RushNet, Inc will also acquire Grandeza Healthcare in the near term which is the sister company of heliosDX. Grandeza will achieve over $1,500,000 in annual revenue and be profitable in year one of operations. Grandeza is a billing and coding company in the healthcare sector and believes it can achieve over $3,000,000 in annual revenue in 2022. We believe Grandeza is the perfect addition to RushNet post spinoff of heliosDX. It is a fast-growing company, which can bring long-term value to RushNet, Inc in addition to the heliosDX dividend and offering value.

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
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 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 recent update from RushNet, Inc. regarding heliosDX?

RushNet announced the acquisition of heliosDX, updates on spinoff dividends, and confirmed record-breaking financial results.

How will RushNet shareholders benefit from the heliosDX acquisition?

Shareholders will receive one share of heliosDX per 800 shares of RushNet owned and can purchase additional shares at a 50% discount.

What revenue growth does RushNet project from the acquisition of heliosDX?

RushNet expects heliosDX's acquisition to potentially yield $25 million in annual revenue after a full year.

What financial milestones has RushNet achieved recently?

RushNet completed filing disclosures, financial updates, and reported record financial performance in the latest quarter.

What challenges could RushNet face regarding funding for acquisitions?

RushNet may need to seek traditional funding if heliosDX does not raise at least $8 million for growth and acquisitions.