Cord Blood America $1.6 Million in Debt Retired in Third Quarter 2009
SANTA MONICA, Calif., Aug 25, 2009 — Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com ) focused on bringing the life saving potential of stem cells to families nationwide and internationally, said today that it has retired $1.6 million in debt since July 2009. The Company previously announced it retired $5 million in debt in the first half of 2009.
“We have said that one of the pillars of strength for Cord Blood America in 2009 was to significantly reduce debt and we certainly are fulfilling this obligation to our shareholders,” said Matthew Schissler, founder and CEO. The Company also announced on August 5, 2009, that it retired $2.53 million of long-term debt with the payoff of two notes with the Shelter Island Opportunity Fund.
“Retirement of debt is good for our balance sheet and makes CBAI a better investment for our shareholders,” said Mr. Schissler. “We are pleased with a strengthened balance sheet, having recently announced second quarter results showing a significant increase in working capital and cash on hand.” About Cord Blood America Cord Blood America (OTC Bulletin Board: CBAI | Quote | Chart | News | PowerRating) is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc. (OTC Bulletin Board: CBAI), visit our website at http://www.corcell.com. For investor information, visit http://www.cordblood-america.com.