LAS VEGAS, April 21, 2011 /PRNewswire/ -- Cord Blood America, Inc. (http://www.cordblood-america.com) (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells to families nationwide and internationally, is pleased to announce that its shareholders have approved an amendment to the Company's Articles of Incorporation effecting a reverse stock split.
The vote was approximately 80% for the stock split and 20% against with less than one half percent abstaining. For each 100 shares of common stock that a shareholder holds prior to the effectiveness of the reverse stock split, that shareholder will hold one share after consummation of the stock split. Shareholders also approved an increase in the number of authorized shares by a vote of approximately 77% in favor, 22% opposed with 1% abstaining.
The stock split is expected on or around May 6, 2011. CBAI will post information regarding the exchange of certificates in the coming days.
"We want to thank our shareholders for their support and now we need to focus our entire effort on growing this Company to provide benefits for our shareholders," said Matthew Schissler, CEO and co-founder.
About Cord Blood America
Cord Blood America 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 d
|SOURCE Cord Blood America, Inc.|
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