SANTA MONICA, Calif., May 27 /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, said today that it has reduced its secured debt by a total of $4.194 million in the first five months of 2009.
"On April 6th, 2009, Cord Blood America announced it had decreased its debt by $1.75 million this year," said Matthew Schissler, Cord Blood America Founder and CEO. "Since that time, we have further reduced our secured debt by $1.627 million and have eliminated liquidated damages totaling $817,000."
"We have been very forthright with our investors. We have said there are three strong pillars needed to take CBAI to the next level. One is debt reduction, and today's announcement shows our achievement in that sector. The second is organic growth, and our deferred revenues for the first quarter were up 20 percent. The third pillar is acquisitions, and we recently announced Cord Blood America is in the process of building or buying a stem cell laboratory for increased acquisition capacity and higher gross margin," Mr. Schissler said.
"Our strategy for 2009 is in place and we stand by our ability to perform and to make all three pillars strong and sturdy. We urge our shareholders to follow our progress in these important sectors," Cord Blood America's founder said.
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, 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 www.corcell.com. For investor information, visit www.cordblood-america.com.
Some statements made in this press release are forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. These statements including those related to the growth of the industry, new stem cell treatments, and the Company's performance, are only predictions and are subject to certain risks, uncertainties and assumptions. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
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|SOURCE Cord Blood America, Inc.|
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