SANTA MONICA, Calif., April 23 /PRNewswire-FirstCall/ -- 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, which recently announced it has decreased long-term debt by $1.75 million in 2009, said today it has eliminated another $817,000 of long-term debt.
"The remaining debt with YA Global Investments, formerly Cornell Capital Partners, has been assigned to an existing institutional investor. CBAI and YA Global Investments agreed on a one time common share settlement for liquidated damages in connection with assigning the outstanding principal and interest to the existing investor. With this assignment, CBAI has no further debt with YA Global Investments. Cord Blood America regards this as a key milestone on its path to being able to operate on its cash flow," said Matthew Schissler, Cord Blood America Founder and CEO. "We are happy to have worked with YA Global Investments and wish them future success."
"We said decreasing debt would be one of our significant items to focus on in 2009 and we are very pleased on how we are progressing," said Mr. Schissler. "Eliminating debt makes out financial balance sheet stronger and makes Cord Blood America a better investment. We are very pleased with this development."
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI) 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, c
|SOURCE Cord Blood America, Inc.|
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