Rushnet Inc (OTCMKTS:RSHN) is trading slightly higher in the opening session on Thursday. The stock has soared 700% so far this year.
As of 10:36, DSGT stock is down 1% to $0.19 with more than 320k shares, compared to its average volume of 982k shares. The stock has moved within a range of $ 0.1850 – 0.1950 after opening the trade at $0.1950.
RushNet, Inc Closes the Acquisition of heliosDX which Brings Significant Revenues to the Company
- RushNet announced the acquisition of heliosDX was closed and effective July 1, 2021.
- 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. This acquisition brings significant value to RushNet, Inc and its shareholders.
- heliosDX had annual revenues in 2019 of $2,639,454.58, 2020 of $4,294,435.82, and in 2021 through the 2nd Quarter of $2,827,582.50. heliosDX expects their current trends to hold and should meet their stretch goal of $6,000,000 for 2021. The company is profitable and has seen profits continue to grow right alongside the revenue growth. The company is also under a Binding Letter of Intent to acquire a privately held Laboratory slated to close late 3rd Quarter or early 4th Quarter. This acquisition will immediately bring heliosDX annual revenues to over $16,000,000 with a tremendous upside.
- The combined operations vastly increase the heliosDX specimen capacity, sales representatives, and creates room for future growth in their infectious disease business, which is expected to outpace toxicology within 12 months. In a separate transaction, the company is seeking to purchase the building that the private company currently occupies, which includes an empty space attached for future expansion. This first acquisition should yield annual revenues for heliosDX of $25,000,000 after a full 12 months of combined operations. We believe, as we continue to grow organically, along with acquisitions, we can reach and exceed $50,000,000 in annual revenue within two years.