Happy Thanksgiving from Florida.

.0001

What was it, maybe 8 million in debt? 10 million? Created in 2 years? 200 million lost in the 2021 pump to the 2023 BK?

It will take several years minimum with "Hdx" maybe decades. If ever. RSHN probably stops trading soon...

I am sure executives of RSHN will be very happy this Thanksgiving in their multi-million dollar homes while shareholders barcode at .0001

Isn't it odd the homes of the executives cost more than the value of their company?

Horrible.

https://bkdata.com/business-bankruptcies/orlando-florida/08-25-2023/ashley-sweat-02035

400M shares becoming unrestricted.

That the company sold for 40 grand.

When it was trading 15x higher.

Horrible.

https://hdxnow.com

If Helios Dx "succumbs to unprecedented Challenges in the Healthcare Market "...why start Hdx?

Thought the challenges were "to tough" to overcome?

Took every client, every employee, every revenue stream, every machine to a new LLC. Left shareholders of RSHN and HeliosDx bankrupt and in court through Chapter 11.

Disaster continues..

Horrible.

Glorious times to come! Free Shares! Thriving company! Profitable! Spin off coming! New products! Acquisitions! New website! Up Listing! New lab! New storefront! New Amazon merchant account!

Zero happened.

Result: -99%

Bankrupt.

Vanishes.

Deletes everything written online.

While every nickel left is being used to hide behind an attorney.

Horrible.

Has anyone bought the membership to access the operational report in bankruptcy?

Is there anyone left to care?

LOL!

It is pretty amazing how vocal they were for years on how wonderful things were to come. Then when all the money disappeared they crawled in a hole.

FRONT AND CENTER!!

LOL!

I bet they are hoping the financial devastation of thousands, the livelihoods of all their employees incinerated, the embarrassment to their merging partners, and the millions in debt owed to their creditors are forgotten over time.

LOL!

They may have deleted all their promises on their old Twitter account...but it is well documented here, will always be accessible online, and will be published FOREVER.

LOL!

Tithing while bankrupting the company and shareholders. While telling investors the whole time the money being given was immaterial.

While creditors were left unpaid and shareholders of the company were left with nothing.

I guess it wasn't so immaterial after all, considering the company has no money.

SEC filings show that RSHN paid millions to an advertising company owned by the controlling shareholder of RSHN during the 2021 pump.

Market cap peaked out at a quarter billion. While millions were sucked out of RSHN paying the advertising responsible for the pump...owned by the same parties.

Outside of this bankruptcy, and what creditors got screwed out of...it is just a needle in the haystack or a drop in the bucket, considering the quarter billion lost by traders from 2021 to 2023 in market cap.

In the end, hundreds of millions of dollars vanished through the appearance and disappearance of HeliosDx.

Horrible.

https://bkdata.com/business-bankruptcies/orlando-florida/08-25-2023/ashley-sweat-02035

Monthly operational report filed.

HeliosDx got so screwed up that it has to be reviewed by a judge every month now.

What a total disaster.

But next time... it will be different ;)

Stock for stock baby!

Just a reminder - Countless times a "personal gaurentee" on HeliosDx debts were mentioned. Those personal gaurentees ended up in chapter 11 bankruptcy and last for 7 years on a credit report. Meaning no more loans. So where will the money come from for future funding, for anything? Shareholders. Selling shares. Offerings. Dilution. No better way to do it than to take a maxed out 9B SS driven down to .0001 (RSHN) and convert them into another shell purchased on the cheap with a low float. Maybe a 10,000 or 100,000 to 1 ratio. Isn't that essentially a reverse split? Then...when you have a new SS and a higher share price under a new ticker, work on maxing out that share structure again to get some freshly printed new money. Sure, you destroy your shareholders in the process, but you are doing it with best intentions.

Sounds great for someone, not so much for everyone else.

Horrible.

The new RSHN chapter!

The saga continues!

Instead of free shares and a spin off..it will be a stock for stock merger!

Says the team that acquired a profitable company for 6M, could not make the payments on the 6M so they restructured it over and over, while driving it into the ground, firing people, fleecing it of all capital, driving up the debt, then declaring bankruptcy within 2 years.

But this time will be different!

Just wait until we get out of bankruptcy!

You'll see!

These promises started in early 2021.

Return of capital since: -99%

All while management earned their salaries, paid their advertising company to promote the company, made real estate deals...

While shareholders lost everything.

HORRIBLE

https://bkdata.com/business-bankruptcies/orlando-florida/08-25-2023/ashley-sweat-02035

No updates for almost 2 weeks now from the court room.

Well they have to talk about something..

They can't talk about the company anymore, it's been destroyed to nada!

There are new updates on the bankruptcy case

https://bkdata.com/business-bankruptcies/orlando-florida/08-25-2023/ashley-sweat-02035

Another hearing was held this week. It appears a report was filed and reviewed in court.

Probably the restructuring plan.

400M shares become unrestricted 11/22/23

Since the meeting with creditors has concluded, a disclosure statement and reorganization plan must be submitted before another hearing to review it. Adjustments are made based on objections and negotiations of the plan, then finalized and approved.

You have to make ALL the payments to your unsecured creditors that are included in the reorganization. Once they are paid, you can request a discharge of the remaining debts not included and a discharge of the case.

Most Chapter 11 cases take 6 months to 2 years.

Horrible 😜

14 cents traded today

Meeting of creditors as suspected rescheduled, held, and concluded.

Chapter 11 can sometimes be discharged as early as 60 days from this meeting.

https://bkdata.com/business-bankruptcies/orlando-florida/08-25-2023/ashley-sweat-02035

Tax returns have to be 4 years leading into the BK I believe. I am sure the creditors and everyone reviewing the BK will love seeing the "1-2 million" RSHN and or/helios paid out to the marketing firm "own and/or controlled by" the same controlling RSHN holder.

That money spent was also in the filings.

I wonder where it went? Anyone ever get the name of that marketing company promoting RSHN up to 3 cents before the famous "2021 rug pull"?

It appears they pushed the meeting with creditors, most likely because the tax returns were not in. That normally has to be done before the creditors meeting. The tax returns were just filed today. You can follow the case through the link I provided several days ago. You can also subscribe and view all the forms and filings.

Also filed today:

Formal declaration they are bankrupt & Trustee approval to pay the attorneys, accountants, and so on during the BK proceedings.

This is still miles away from being resolved. The creditor meeting will probably be rescheduled now. Research states it is possible for a chapter 11 discharge 60 days after that meeting of creditors.

Although a late December discharge is possible, it is not likely. Sometimes chapter 11 cases can take years.

Only a guess.

They wrote "24 years of mis-steps" on X. The badge has 25. Timing of the bankruptcy appears it could wrap up in December if discharge occurs 60 days after a creditor hearing. That is a general time line of proceedings.

Anyone who thinks this will do anything before chapter 11 is over (at least 2 months from now) is living a fantasy.

100s of millions of RSHN shares are an asset of the principal, who admittedly was personally guaranteeing HeliosDx debts.

It would be in their best interest to have RSHN shares worthless and not liquid while in BK.

So barcode .0001-.0002 to 2024.

MINIMUM.

The BK case is at "meeting with creditors" stage. A continuance was filed. It states a chapter 11 discharge occurs 60 days after the hearing.

So don't expect to hear anything soon.

I believe 25.1 means 25 years of RSHN and 1 month. BK will be over in mid to late December.

Plans for RSHN will occur in January 2024.

Barcode .0001-.0002 until then.

The interesting part is when they said "I haven't sold yet, I will get it back and some"

That could mean that RSHN shares will not be cancelled and reissued, or if they are, holders currently will be converted to new shares.

Ownership holds 275M common and maybe 60,000 preferred convertible to common.

Only 10-20% of chapter 11 companies do not cancel shares. However, it was HeliosDX that filed BK. Not the parent RSHN. So the private stockholders of a heliosDX (about 60) lost all value.

RSHN shareholders could have it worse. They could of held HeliosDx shares and not RSHN.

A break from the 1-2 barcoding trading higher would be a good indication.

https://bkdata.com/business-bankruptcies/orlando-florida/08-25-2023/ashley-sweat-02035

Maybe go for 0 volume tomorrow...

There is no absolute limit on the duration of a Chapter 11 case. Some Chapter 11 cases wrap up within a few months, but it's more usual for it to take six months to two years for a Chapter 11 case to come to a close.

https://bkdata.com/business-bankruptcies/orlando-florida/08-25-2023/ashley-sweat-02035

A few things to consider:

- Refine product line was finished but never launched. 7-12 months was invested in it. It was a top priority into 2023. One would think it is still ready...

- At home lab kits were finished (maybe?) but never launched. The website was supposedly being developed. Not sure if it was finished, but also never launched. Could be ready...

- Management has extensive background in labs, Healthcare, Insurance billing, and Advertising.

- Management has ties to mental health services

- RSHN has ties to a THC background and other health products.

I wouldn't be surprised to see a new model that bundled these items together, rebranded, with a full launch of products and services that have remained on the back burner and never given the green light.

Remember...

A SUBSIDIARY of RSHN filed for bankruptcy. Not RSHN. Unless some shady stuff was going on, the parent should be protected.

From a RSHN prospective, there are countless projects under this parent that were being developed over the last several years (before and during HeliosDx) that never launched.

Will RSHN restructure and finally launch everything that is, was, and/or ready once the dust settles?

Debt free. R&D paid for. Products ready. Inside a new business model restructured....?

Hmmm...

Revenue:
Seeing the changes on what was billable and collectible had changed 7.1 it was probably difficult to report revenue on an accrual basis.

Did the changes effect work being performed after 7.1 or what was billed 7.1 or what would be paid 7.1? What is collectible?

Unclear.

Expenses:
Also hard to report expenses if they weren't paid yet and are now part of the bankruptcy. They could be wiped out, partially due..still due...unclear

Same on the balance sheet side, the bankruptcy, and the lawsuits. Seems those started in June so that may have some effect in the Q2 filings as well.

You can't exactly say the HeliosDx goodwill is 6M on the BS as an asset like prior Qs when it's pending or in bankruptcy. Some assets may have been being sold off, who owns the AR (Factoring companies...?) Liabilities may be deemed uncollectible the date filed as well, or when lawsuits started...

Not clear.

I am assuming at this point they will get caught up once the bankruptcy proceedings wrap up with HeliosDx and the dust settles.

Only then will you have a clear understanding of what is left on the books.

Management bought RSHN no problem without FINRA approval, and took over HeliosDx.

What's stopping a new ticker/company from buying RSHN as a subsidiary and using their own standing through FINRA?

Avoiding Finra approval and returning RSHN investors a return:

Buy back shares at current levels. Management controls nearly 300M in common + preferred convertible to common.

Another 400-500M is available to still issue up to 9.1B. Buy back the 400M issued last November. If the company can regain control of another few hundred million at these levels, add to the 300M management owns, 400-500M still available to issue, and possibly repurchasing the 400M shares issued last year...

Company then has 1-1.5B+ shares available to reissue if it desires. Line up a new target business, generate interest in the stock, stock rises.

1c/share at 1-1.5B available is 10-15M available to raise or issue to raise capital.

Issue it for a merger, raise some capital...No Finra needed.

Use cash flow periodically to rebuy shares, supply a buyer to the market, support the share price, lower the share structure over time.

Higher the price, the higher the capital raise, the lower the amount of shares needed to issue.

Once established, RSHN is bought with its new subsidiary into a new ticker with a clean slate, under their corporate umbrella, not RSHN. FINRA compliant, ready to go.

RSHN goes from a parent to a subsidiary.

Interesting markets with an urgent need, demans outweighing supply:

Agriculture
Housing
Development

Correct...It can't be bashed any lower.

So speculation is a rise...or dark...

RSHN has been around for decades. Speculating this isn't the end based on the history.

Might go dark. Guess we'll see in the months ahead.

I agree with you. Just speculating.

There are risks. Look what happened over the last 2 years with this. .025 to .0001

I have no interest pumping. Just stating a point of view at the current levels and the current state of the situation.

Shells for sale in decent shape run on average for about $350,000 (the ones listing a dollar amount).

I am sure there will be some more effort on the RSHN front before they throw in the towel, abandon it, and fork up another 350.

Yes, this is speculation...

After all, this is the OTC.

You have to see this from a certain angle. RSHN is much better off now, much more administratively sound now, than when it was at an evaluation 5-30M 2-3 years ago.

Granted HeliosDx ended in disaster, but the cash flow fed the parent RSHN and from a PARENT stand point...it got quite a few things done.

I was a big critic of HeliosDx and the accomplishments there.

RSHN was neglected for quite some time. Yes, the subsidiaries failed this time around, as always. RSHN is down, but not out. Look at the last 20+ years...still going...

The doors are now WIDE OPEN for another venture to go public. SEC will come around, eventually. RSHN has now cut ties with subsidiaries that didn't work out, has very little debt, and is much more sound as a shell.

I have been a critic for quite some time. The RSHN work was slow, but was being accomplished. It was HeliosDx and the failures there that was unacceptable.

With the subsidiaries gone, RSHN with 2 years plus of administrative work behind it with the SEC, as the HeliosDx door closes a new one opens.

Management is much more seasoned now. We all know they were optimistic rookies.

I think they said this chapter is closed. That is agreed. For once!

They are starting at the bottom, again. Which is great, because bottoms are great for investors.

In Summary
Helios gone.
10M in debt gone.
1M+ and 2 years put into RSHN fixing its issues, history, and current standing is done.
5-30M RSHN market cap 2020-2021 before the 1M+ and 2 years invested (now 1M)
More seasoned management.

So there are some items now that make this more attractive in the past. Love it, hate it...

Just imagine though if management had the RSHN now, from day 1.

Would things be different?

Well, now they have it.

In to see where they go from here.

Keep selling. I am now a buyer.

Sorry bears, I've been traded.

What remains to be determined is the court legally recognizing RSHN as the parent company of HeliosDx. The problem with creditors claiming the owners of RSHN were part of the day to day operations of the subsidiary is that there are thousands of owners of RSHN as a publicly traded company.

So the ruling in 86 to target the parent here is difficult, since there are so many owners of the parent RSHN.

Management is owner and was active manager of the subsidiary. They have preferred and common shares, but so do thousands of other owners not involved in day to day operations of the subsidiary or guaranteeing its debts.

As a general rule, the parent and the owners of the parent company are not liable for subsidiary debts.

The bankruptcy here is getting rid of nearly 10 million dollars in debt. RSHN carried a "good will" asset that consisted of the FMV of its subsidary HeliosDx on the balance sheet.

That asset gets written down to $0 and the subsidary is dissolved.

That's it.

A diamond in the rough here is that the subsidary for 2 years provided cash flow to the parent, which was used to clean up its administrative end ...and that was desperately needed.

RSHN, a Colorado entity, owned HeliosDx that operated in Florida, I believe a Georgia entity (?).

In what form RSHN moves on and in what direction is yet to be determined. But as it trades near par and a market cap of 700k-1M, liking it here.

The OTC market valued RSHN around 5M at the very low end the year before HeliosDx in 2020-2021, and as high as 30M before the subsidary acquisition mid 2021.

Whether or not you love or hate RSHN, your opinion of it, the management, the history, what went down the last 2 years, HeliosDx and the end result with that...

The market valued RSHN before any work started on it between 5M-30M.

The 1 accomplishment here is the cash flow the subsidary generated for the parent during that time. Value was added in that way. At the present time, it doesn't seem to be represented in the share price.

500M shares traded bankruptcy news. Maybe another 100M in sells during the week.

8B still holding and didn't move.

Why?

Parent entities are treated as separate legal entities. They can generally only be held liable for the debts of an insolvent subsidiary if they had guaranteed the debts or been involved in a fraudulent scheme. As a general rule a parent company cannot be held liable for its subsidiary's debts.

Tables have turned: Now HeliosDx investors and shareholders need RSHN shares.

Heliosdx is bankrupt.

RSHN is better than ever.

Old taxes have been paid
Old pending issues at the state level have been resolved
2020 & 2021 Audit has been completed
2 years of Finra and SEC issues were addressed
HeliosDx and Grandeza are gone (all the debt)
Preliminary offerings have been written
Now has a fresh start

And the best of all...getting rid of a horrible subsidiary that lost tons of money and racked up 10 million in debt!

Today's price reflects as if RSHN is Heliosdx. That is not the case. HeliosDx attached itself to RSHN trying to hitch a ride to the promise land.

HeliosDx investors are done for good. RSHN is just down for the time being...

Liking RSHN here!

Heliosdx....good riddance!

Remember when they were saying that they "wouldn't want rshn" for Heliosdx anymore...

Now rshn is all they have left.

My have the tables have turned!

Management only has 275M common shares, then those preferred for voting rights.

Could buy those common for 50k nowadays.

LOL

Horrible