Rushnet, Inc Pursues Spinoff of HeliosDX, Dividend
ALPHARETTA, GA / ACCESSWIRE / June 8, 2022 / RushNet, Inc (OTC PINK:RSHN), (the "Company") is pleased to announce the proposed Rushnet dividend of heliosDX shares planned to be issued upon the spinoff of heliosDX. This proposed structure is free of any dilution to Rushnet - no additional shares of RushNet will be consumed in the process - it will have the same number of shares outstanding as it does now.
As part of the 15-month plan, Rushnet and its subsidiaries, heliosDX and Grandeza Healthcare, recently announced the completion of the PCAOB audit. This necessary and crucial step was needed in order to proceed with: (1) the issuance of dividend shares of the future heliosDX, Inc. to current RSHN shareholders and (2) the raising of $20,000,000 through the filing of a Tier 2, Regulation A with the SEC. Shares of heliosDX, not shares of RushNet, will be offered as part of the public offering.
The target submission date is within the next five business days. We would expect to file concurrently our Form 211 submission with FINRA to spin-off heliosDX from Rushnet, Inc.
Through the public offering of heliosDX shares from the Regulation A, heliosDX plans to raise $20,000,000 for future business endeavors.
These heliosDX shares to be distributed to RushNet shareholders as well as the fundraising element, are to be qualified by the Regulation A Offering to be free trading shares. For every six hundred and fifty (650) shares of RSHN owned, shareholders will receive one (1) share of heliosDX, Inc.
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.
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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