Rushnet, Inc Current Status Update on the Progress Towards heliosDX Spinout and Capital Raise Through Tier 2 Regulation A
RushNet, Inc. (OTC PINK:RSHN) has made significant strides towards its goals, including the spinout of heliosDX and a Tier 2 Regulation A filing. Key milestones achieved include a clean PCAOB audit, plans to issue dividend shares at a ratio of 650 RSHN to 1 heliosDX, and raising up to $20 million through discounted shares. The company aims to reach annual revenues of $50 million through acquisitions. Upcoming milestones include signing an agreement for a toxicology lab acquisition and obtaining SEC and FINRA approvals.
- Clean PCAOB audit completed, affirming financial integrity.
- Plans to issue dividend shares with a significant ratio of 650 RSHN to 1 heliosDX, totaling over 12.5 million shares.
- Targeting to raise up to $20 million through discounted share issuance.
- Ambitious revenue target of $50 million from future acquisitions.
- None.
ALPHARETTA, GA / ACCESSWIRE / June 24, 2022 / RushNet, Inc (OTC PINK:RSHN), (the "Company") is pleased to provide this update regarding progress towards its major milestones including the spinout of heliosDX and the Tier 2 Regulation A.
Rushnet, Inc. with its current subsidiaries, heliosDX, Inc. and Grandeza Healthcare Consultants, have put in tremendous efforts with its legal, accounting, and auditor partners to accomplish critical milestones to drive the company vision forward.
As a recap of what has been accomplished this year in 2022 toward the major milestones:
- January ‘22 to June 1st - PCAOB audit conducted by Somerset CPA's and Advisors. Completed with a clean opinion.
- March ‘22 - June 17th - Filing a Tier 2 Regulation A with the SEC which includes:
- Dividend shares for RSHN shareholders with a ratio of 650 RSHN to 1 heliosDX. Approximately over 12.5 million heliosDX shares to be issued.
- Spinout of heliosDX, Inc. as a separately traded entity
- 17,000,000 shares to be issued at discount of
$1.18 per share in an attempt to raise up to$20,000,000 in capital to fund our future acquisitions
- June 2nd - Submitted Audited Financials to the OTCMarkets
- Week of June 13th - Retained new SEC and Corporate counsel with BMD (Brennan Manning Diamond) to work alongside our healthcare counsel at BDM
- June 17th - Updated the Articles of Incorporation for Rushnet, Inc. in Colorado
- June 17th - Reorganized Chattahoochee Physicians Laboratory Services LLC d.b.a heliosDX to heliosDX, Inc. in the state of Georgia.
- Week of June 20, 2022 - Formed the Bylaws for heliosDX, Inc.
- Week of June 20, 2022 - Filed the application to FINRA for heliosDX spinout and assignment of ticker symbol and dividend
All of these crucial steps are major accomplishments leading us towards the future vision, including acquisitions and ramping up additional services and capacity to reach future annual revenues of
During the next couple of months, we will continue driving forward to complete these next steps which move us closer to the goals (all dates are estimated):
- July:
- 3rd - Intent to sign purchase agreement for acquisition of toxicology laboratory
- 15th - Commencing mid-year financial audits
- August:
- 12th - Expect to receive approvals for the Regulation A from the SEC
- 12th - Expect to receive approvals from FINRA for the spinout and ticker symbol
- 30th - Raise the initial required funds to complete the transaction of the acquisition.
- August 31st - Expect to close on the acquisition of the toxicology laboratory
Our 15 month plan has been updated and can now be accessed through Prezi.
heliosDX - Where better laboratory services is our passion!
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.
Contact: Ashley Sweat
asweat@heliosdx.com
www.heliosdx.com
Twitter Handle: @dx_helios
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: Danielle Bauer
dbauer@grandezahc.com
www.grandezahc.com
Twitter Handle: @GrandezaHC
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.
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FAQ
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