Rushnet, Inc PCAOB Audit Complete With Clean Opinion, Paving the Way for the Next Major Milestones of the 15 Month Plan
Rushnet, Inc. (OTC PINK:RSHN) announces the completion of its PCAOB audit with a clean opinion from Somerset CPA's and Advisors, aimed at building investor confidence. The audit process has been lengthy, but management is optimistic about future business endeavors. The company reported healthy, growing revenues and plans to address cash flow concerns via restructuring agreements. Future steps include submitting for Regulation A, closing on acquisitions, aiming for $25 million in revenue, and uplisting to another stock exchange.
- Completion of PCAOB audit providing a clean opinion.
- Healthy, growing revenues and gross profits reported.
- Plans to pursue Regulation A application to enhance growth.
- Targeting $25 million in revenue with future acquisitions.
- Ongoing concerns regarding cash flow related to prior agreements.
ALPHARETTA, GA / ACCESSWIRE / June 2, 2022 / Rushnet, Inc (OTC PINK:RSHN), (the "Company") is pleased to announce that its PCAOB audit is complete with a clean opinion from Somerset CPA's and Advisors.
It is with great appreciation that we extend a warm thank you to all of our partners and our teams that assisted in completing this achievement. Thank you to the auditing team at Somerset for their diligence. Thank you to our CPA's and their staff at Whirley and Associates for their determination. Thank you to Danielle Bauer, the team at Grandeza Healthcare, and to Yann Gerville-Reache for their collective efforts and persistence in answering many questions and requests from the auditors to drive this to the finish line.
Rushnet, Inc and its subsidiaries, heliosDX and Grandeza Healthcare are proud to provide this final, clean opinion to further grow the investors' confidence in our achievements and future plan. We know it has been a long audit process that we have all anxiously anticipated, and we are ecstatic to finally receive the clean opinion and move forward with the next part of the plan. Our 15 month plan is only as viable as the truth upon which the company operates and reports.
While we have shown our unadulterated financials with healthy, growing revenues and gross profit, there is one ongoing concern that we will address here. As you may recall, we issued a press release on May the 20th explaining the restructuring of our terms on the current purchase agreement with the previous owners of Chattahoochee Physicians Laboratory Services. The management team of heliosDX is ahead of these concerns and keeps the livelihood of the company as a first priority; hence, our efforts to alleviate the pressure on cash flow related to the audit and tier 2 Regulation A preparations that are now, in large part, behind us. Our ability to pursue our vision is still very much alive and the path is unencumbered by cash flow restrictions for the foreseeable future.
We have created ample breathing room to allow us to reinvest with current profits and lean on financial support where necessary in order to continue to grow through added testing services and future acquisitions, all with the intention of building value into the business. This is what we have done and will continue to do in the future.
Next intended steps for heliosDX:
- Submit application for Regulation A
- Complete and execute the funding agreements
- Close on our targeted acquisition
- Merge the laboratories together for efficiencies
- Grow the combined operating company to
$25,000,000 in revenue - Split-off heliosDX and provide dividends to the deserving Rushnet shareholders
- Uplist to another stock exchange
- Seek future acquisitions to further grow and add value
We will face challenges along the way, but we hold strong to our long term vision and do not see any hurdles too large to overcome.
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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