Alpharetta, Georgia--(Newsfile Corp. - March 31, 2021) - Chattahoochee Labs/HeliosDx has taken a major step forward in achieving its goal of robust and profitable expansion as well as adding exceptional value to its shareholders and announces the acquisition of public entity RushNet, Inc (OTC Pink: RSHN). Having enjoyed rapid growth in revenues from 1.7 million dollars in 2018 to 2.6 million dollars in 2019, 4.3 million dollars with an adjusted EBITDA of 1.3 million in 2020, and an expected 6 million dollars in 2021, HeliosDx has taken a bold step to not just further their core business growth but to increase it exponentially. Its strategy includes the establishment of a new relationship with a substantial doctor network and garnering a profit participation on health-related products sold to their patients. This will also open the opportunity to enable the company to profit from sales to patients of its existing customer base. This is largely the products developed and being rolled out by Gold River Productions, Inc. (OTC Pink: GRPS)
"The large client base we have cultivated over the years involves doctors and doctor groups that have fueled our growth. HeliosDx offers laboratory testing from Covid19 to toxicology and more. Infectious disease and Genetics testing is the new frontier in medicine, and we find ourselves right in the mix with the acquisition of our new instrumentation. The broad base of our clientele allows us to serve our doctors on not-so routine-testing and they are ordering more and more of these cutting-edge tests, resulting in explosive growth. Now available in almost every state, the control of RSHN allows us to grow at an even more rapid pace, and at the same time yielding significant value to RSHN shareholders with a solid company at its core with real assets," says Ashley Sweat, CEO of HeliosDx and Chattahoochee labs. He further explains, "We are giving our doctors ease of access to tests and equipment that they otherwise would have difficulty facilitating. Better yet, with our alliance with Dr. Richard Goulding, Chairman of the Board of Gold River Productions and formerly of RSHN, we will be offering these physicians and others access to other essential and profitable entities including effective nutraceutical and CBD products for their patients they otherwise would not have access to."
Richard Goulding, M.D., says, "We look forward to working with HeliosDx and Mr. Sweat. Our products are formulated to give physicians access to effective formulations for patients that represent non-toxic real alternatives to prescription drugs for issues from sleep to pain and more. The access to this vast doctor network will be added to our growing network of physicians to complement what Mr. Sweat has started and give physicians effective new tools to deal with patient issues they otherwise would not have had as well as a new revenue source for HeliosDx. We will be explaining this in more detail quite soon."
"RSHN shareholders are gaining exceptional value. The reverse split allows the company to grow and gives the shareholders equivalent value with a solid base for an income producing situation. I'm sure that alone will get them excited. The contract includes a mandatory registered spinoff of the RSHN entity as it currently exists, via a dividend to the shareholders. This enables the shareholders to have shares in both companies. No near-term share issuance of any significance in either company is anticipated; the transaction will be anti-dilutive."
"Because of the new position of the company," continues Ashley Sweat, "We are in discussions with other companies for the assumption of more laboratories as we roll out and demonstrate our model, evidencing its efficacy, with excellent clinical yields and plenty of room for growth."
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). The Companies caution that statements, and assumptions made in this news release constitute forward-looking statements and makes 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 adverse to the pecuniary interests of the Company and of its shareholders.
About HeliosDx and Chattahoochee Labs: Having begun operations in 2015, the company has witnessed profit and exceptional growth each year and is predicting well over 6 million dollars in revenue in 2021. This year we take on our third mass spectrometer, the powerful Absciex 4500, which will allow us to serve the massive needs of our clientele, which has been under strain. With the procurement of a new QuantStudio 12x we now have the ability to test 1500 Covid19 patients per day. With infectious disease testing validations being completed next week, we will be able to better serve clients all over by creating more robust testing menus and quicker turnaround time for Covid19, UTI, and RPP testing. Furthermore, with the assumption of our Ion S5 GeneStudio NGS testing equipment, we are poised for the huge genetics market that is so underserved. Currently, the company is working diligently to prepare past disclosures to file with the OTC Markets to move RSHN to Pink Current. Lastly, the company is also preparing documentation to file with FINRA for the r/s, company name change, and company symbol change.
About Gold River Productions Inc., GRPS:
Gold River will focus on market-targeted products including, but not limited to rare cannabinoids and effective products where a particular need is identified. Products for pain relief, sleep, etc. that will be distributed through convenience stores, independent pharmacies and more will have mass appeal to the market.
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