$RSHN heliosDX to Remain as a Rushnet Subsidiary A
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Posted On: 08/31/2021 10:28:20 AM
$RSHN heliosDX to Remain as a Rushnet Subsidiary Along With Grandeza Healthcare
https://www.accesswire.com/662131/heliosdx-to...healthcare
ALPHARETTA, GA / ACCESSWIRE / August 31, 2021 / RushNet, Inc (OTC PINK:RSHN) , (the "Company"
is pleased to announce, after months of deliberation and orchestrating the most efficacious path to maximize shareholder value while achieving the Company's objectives. That path - retaining heliosDX and Grandeza Healthcare as RushNet subsidiaries.
The previously planned split-off of heliosDX from RushNet, Inc with the anticipated dividend will not achieve maximum value to the shareholders. Instead, RushNet, Inc, heliosDX and Grandeza Healthcare ("Grandeza" will stay focused on their respective core businesses and objectives, in tandem, thus maximizing shareholder value. Currently, RushNet, Inc combined with heliosDX and Grandeza are forecasting an annual revenue for 2021 to exceed $7,600,000.
heliosDX, in the meantime, intends to close on the binding Letter of Intent it signed over the summer to acquire another sizable and profitable lab. Upon closing, heliosDX forecasts an annual combined revenue with the new lab of $16,000,000. After a full 12 months of combined operations, heliosDX forecasts revenues to be $20,000,000 to $25,000,000. In addition, we estimate our gross profit to remain above 80% of revenues, and our profit margin in the 25% to 30% range. Part of that margin maximization will be occasioned by using Grandeza for its billing purposes. Furthermore, heliosDX intends to pursue an additional 2 to 3 acquisitions we have previously targeted to reach its two-year objective of becoming a $50,000,000 annual revenue company. heliosDX has engaged counsel and will be pursuing listing on TSXV listing (the venture capital subsidiary of the Toronto Stock Exchange), and, to that end, is preparing two years of audited financial statements.
Grandeza, the newest subsidiary of RushNet, Inc, will continue to focus on building out its billing and coding platform. This is Grandeza's initial year of operations, albeit profitable. Nonetheless, Grandeza expects to exceed $1,600,000 in annual revenue. Grandeza has already derived more than $1,100,000 of revenues in eight months of operations this year and remains profitable despite its aggressive growth plans. Specifically, Grandeza intends to launch a healthcare employment placement service in late 2021/early 2022. This new division for Grandeza will be anchored by a future acquisition. It is Grandeza's objective, upon completion of its targeted acquisition to achieve annual revenues exceeding $3,000,000 in 2022.
Ashley Sweat, CEO of RushNet, Inc says, "we are currently still pursuing additional profitable and strategic acquisitions for the collective benefit of RushNet and our shareholders." Some of these companies will remain as subsidiaries of RushNet. Others may ultimately be spun off and become a stand-alone entity trading with its own symbol but providing dividends to RushNet shareholders upon completion of the action. RushNet is still completing its audits. Additionally, upon completion of the audits, RushNet will pursue uplisting as events permit, with heliosDX and Grandeza as its forefront affiliates.
The existing RushNet Legacy business is still expected to be spun off in a public offering. It is our intent to extend a rights offering at that time to existing Company shareholders. We will issue a release as our plans becomes more concrete and closer to the associated SEC filing date.
Similarly, additional information will be made readily available in the near future to offer further details regarding the course change of heliosDX and RushNet.
https://www.accesswire.com/662131/heliosdx-to...healthcare
ALPHARETTA, GA / ACCESSWIRE / August 31, 2021 / RushNet, Inc (OTC PINK:RSHN) , (the "Company"
is pleased to announce, after months of deliberation and orchestrating the most efficacious path to maximize shareholder value while achieving the Company's objectives. That path - retaining heliosDX and Grandeza Healthcare as RushNet subsidiaries. The previously planned split-off of heliosDX from RushNet, Inc with the anticipated dividend will not achieve maximum value to the shareholders. Instead, RushNet, Inc, heliosDX and Grandeza Healthcare ("Grandeza"
will stay focused on their respective core businesses and objectives, in tandem, thus maximizing shareholder value. Currently, RushNet, Inc combined with heliosDX and Grandeza are forecasting an annual revenue for 2021 to exceed $7,600,000. heliosDX, in the meantime, intends to close on the binding Letter of Intent it signed over the summer to acquire another sizable and profitable lab. Upon closing, heliosDX forecasts an annual combined revenue with the new lab of $16,000,000. After a full 12 months of combined operations, heliosDX forecasts revenues to be $20,000,000 to $25,000,000. In addition, we estimate our gross profit to remain above 80% of revenues, and our profit margin in the 25% to 30% range. Part of that margin maximization will be occasioned by using Grandeza for its billing purposes. Furthermore, heliosDX intends to pursue an additional 2 to 3 acquisitions we have previously targeted to reach its two-year objective of becoming a $50,000,000 annual revenue company. heliosDX has engaged counsel and will be pursuing listing on TSXV listing (the venture capital subsidiary of the Toronto Stock Exchange), and, to that end, is preparing two years of audited financial statements.
Grandeza, the newest subsidiary of RushNet, Inc, will continue to focus on building out its billing and coding platform. This is Grandeza's initial year of operations, albeit profitable. Nonetheless, Grandeza expects to exceed $1,600,000 in annual revenue. Grandeza has already derived more than $1,100,000 of revenues in eight months of operations this year and remains profitable despite its aggressive growth plans. Specifically, Grandeza intends to launch a healthcare employment placement service in late 2021/early 2022. This new division for Grandeza will be anchored by a future acquisition. It is Grandeza's objective, upon completion of its targeted acquisition to achieve annual revenues exceeding $3,000,000 in 2022.
Ashley Sweat, CEO of RushNet, Inc says, "we are currently still pursuing additional profitable and strategic acquisitions for the collective benefit of RushNet and our shareholders." Some of these companies will remain as subsidiaries of RushNet. Others may ultimately be spun off and become a stand-alone entity trading with its own symbol but providing dividends to RushNet shareholders upon completion of the action. RushNet is still completing its audits. Additionally, upon completion of the audits, RushNet will pursue uplisting as events permit, with heliosDX and Grandeza as its forefront affiliates.
The existing RushNet Legacy business is still expected to be spun off in a public offering. It is our intent to extend a rights offering at that time to existing Company shareholders. We will issue a release as our plans becomes more concrete and closer to the associated SEC filing date.
Similarly, additional information will be made readily available in the near future to offer further details regarding the course change of heliosDX and RushNet.
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