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Sunday, September 25, 2022

Rushnet Inc (OTCMKTS: RSHN) Heating Up as Co Prepares for HeliosDX Spinoff, Dividend & New RushNet

Rushnet Inc (OTCMKTS: RSHN) is on the move as the Company makes big strides forward as shareholders prepare for the heliosDX spinoff, dividend, and a new RushNet. Management has been working hard behind the scenes recently announcing on twitter CEO Ashley Sweat is working to return nearly 400M of his shares to $RSHN. The Company plans to lower the Authorized Shares by approximately 1B to further demonstrate no dilution more dilution. RSHN has a history of big moves skyrocketing to over $0.027 in summer 2021. 

RSHN is planning to spinoff heliosDX and Grandeza Healthcare with new shares in the Company distributed to current shareholders.. 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. The Company is contracted in 44 of the lower 48 states and looking to expand its reach and capabilities. In the last few months, heliosDX has processed over 1,000 medically necessary physician ordered tests, and billed nearly one million dollars without reimbursement or substantiated justification. heliosDX expanded its Infectious Disease PCR panel to include the Human Monkeypox Virus; launched earlier this year through its partner laboratory, the Human Monkeypox Virus testing is in line with the ambitious vision management has for the Company working on a number of major acquisitions to help grow the business exponentially. 

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Rushnet Inc (OTCMKTS: RSHN) operating out of Orange Park, Florida has transformed over the past year into a revenue powerhouse with the acquisition of heliosDX; 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. heliosDX is contracted in 44 of the lower 48 states and looking to expand its reach and capabilities. Always staying ahead of the curve, by continually investing in its 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. The Company excels in patient and client care through physician designed panels that aid in testing compliance and reporting education. heliosDX as the first step to bring value to shareholders. The has company progressed in the last few months and plans future acquisitions to bolster company and shareholder value.  Rushnet currently operates as heliosDX and Grandeza Healthcare; 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, Grandeza Healthcare provides Revenue Cycle Management (RCM) for all clients, as well as customized consulting services. Grandeza is a rapidly growing company adding new services and value to further demonstrate our competitive advantage.  

heliosDX is a National Clinical Reference Laboratory offering High-Complexity Urine Drug Testing (UDT), Behavioral Drug Testing, Allergy Droplet Cards, Oral Fluids, and Infectious Disease (PCR). We are contracted in 44 of the lower 48 states and looking to expand our reach and capabilities. heliosDX intends 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 the last few months, heliosDX has processed over 1,000 medically necessary physician ordered tests, and billed nearly one million dollars without reimbursement or substantiated justification. heliosDX revenues are growing fast. During 2021 heliosDX did $5,893,984 in total revenues from Billing services and Laboratory testing fees. During Q2, 2022 heliosDX reported $1,977,761 in revenues putting the Company on track to generate over $7.5 million in annual revenues for 2022. Last year heliosdDX acquired a privately held laboratory with $10,000,000 annual revenues processing more than 5,000 tests monthly with a capacity of 12,000 monthly UDS tests. heliosDX and RushNet Inc. sign to acquire this laboratory gaining strategic benefits regarding location and contracting potential. heliosDX continues to search the market for additional laboratories for acquisition. A third laboratory has been identified and preliminary numbers shared, but negotiations have yet to begin.

According to a recent update from the Company, the Rushnet, Inc. of the past is long gone. However, remnants of its historical dealings still cling to the business that have posed challenges to current management as it navigates the public sector in pursuit of the long-term goals that we’ve set for the current Rushnet. Today, we have a completely new face, new management and new goals within the National Diagnostics Laboratory and the Healthcare Billing and Coding space which is operating today as heliosDX and Grandeza Healthcare. The services and objectives of today are completely different and have an ultimate goal of continuing the enhancement of shareholder value. As in life, a business can be presented with various paths to choose in order to stay the course and achieve its ultimate long-term vision. The company’s (heliosDX and Grandeza Healthcare) goals have not changed: grow the business to $50 million in revenue in three years and thereby increase shareholder value. The company has not wavered from this target and aims to accomplish this vision. The main primary target on this long-term path has been to acquire another toxicology laboratory that we know will greatly benefit the business and its shareholders.  

ImageheliosDX Spinoff: Earlier this year RSHN announced 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. 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. 

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RSHN

Earlier this year heliosDX expanded its Infectious Disease PCR panel to include the Human Monkeypox Virus. Due to the rising concern and surge of reported cases of the Monkeypox Virus in the United States, heliosDX is adding testing to its infectious disease panel immediately. Together with its lab partners the Company is responding to the growing need of testing to identify the virus accurately and in turn to allow physicians and clinics nationwide to effectively treat patients that are suffering. heliosDX also aunched its testing for the Human Monkeypox Virus through its partner laboratory.

More recently the Company announced heliosDX is reaching out across the U.S. to promote its services in collaboration with its lab partner for the Human Monkeypox Virus. heliosDX utilizes its CRM powered by SharpSpring to market the company and promote its services nationwide. The company is sending out a marketing campaign nationwide to promote its testing services for Human Monkeypox virus. This rising concern and increase in outbreaks has led heliosDX and its partner to act fast and to add PCR testing for the virus. The laboratory conducted test is available and the kits are ready for shipment. As reported by the CDC, the virus has reached 9,492 cases in the US as of August 9th, 2022 with the hardest hit states being NY, CA, and then FL.  

On September 2 RSHN announced heliosDX will absorb Grandeza Healthcare in preparation for the spinout from Rushnet. As of October 1st, 2022, Grandeza Healthcare will be completely rolled into heliosDX to include all income, assets, liabilities, personnel, and services. It is evident that this will benefit both Rushnet and heliosDX by streamlining operations and reducing costs. Danielle Bauer, CEO of Grandeza Healthcare, has been offered a role within heliosDX as Director of Compliance and Operations. Upon completion of the heliosDX spinout, Rushnet will remain a publicly traded company, which is pink current, clean, PCAOB audited, and ready for its next venture which will be publicly announced in the coming months. heliosDX upon spinoff will have a foundation of approximately 13,000,000 shares, which will be freely tradeable and consider the float. 

Final note, as of September 2, 2022, BMD, which is the counsel for Rushnet and heliosDX, has submitted the Company’s Finra response to include many corporate actions at the state (NV and CO) level spanning the last 20 years. Rushnet has also submitted payment to Nevada to clear up back taxes of approximately $43,000. This clears the path along with multiple corporate actions for a swift and expeditious approval of the spinoff and dividend. 

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Currently trading at a $17 million market valuation Rushnet is an exciting story developing in small caps; currently shareholders are preparing for the heliosDX spinoff, dividend, and a new RushNet. Management has been working hard behind the scenes recently announcing on twitter CEO Ashley Sweat is working to return nearly 400M of his shares to $RSHN. The Company plans to lower the Authorized Shares by approximately 1B to further demonstrate no dilution more dilution. RSHN has a history of big moves skyrocketing to over $0.027 in summer 2021. RSHN is planning to spinoff heliosDX and Grandeza Healthcare with new shares in the Company distributed to current shareholders.. 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. The Company is contracted in 44 of the lower 48 states and looking to expand its reach and capabilities. In the last few months, heliosDX has processed over 1,000 medically necessary physician ordered tests, and billed nearly one million dollars without reimbursement or substantiated justification. heliosDX expanded its Infectious Disease PCR panel to include the Human Monkeypox Virus; launched earlier this year through its partner laboratory, the Human Monkeypox Virus testing is in line with the ambitious vision management has for the Company working on a number of major acquisitions to help grow the business exponentially. We will be updating on RSHN when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in RSHN either long or short and we have not been compensated for this article.

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