"We are working to manage our expenses and to reduce overall costs and that cost control will continue throughout 2011," Mr. Schissler said. "We continue to develop relationships with insurance companies and have announced multiple new contracts in 2011 that will fuel organic growth. In addition, we are seeing the year over year impact of our international acquisitions, and we expect storage fees from cord blood previously stored by Reproductive Genetics Institute, Inc., Chicago, and NeoCells, also formerly an Illinois stem cell storage company, both first half of 2011 purchases, to positively impact the third quarter and beyond."
"We continue to evaluate possible acquisitions, including the LOIs previously announced, but with the high cost of capital at present time, CBAI will be very selective in this process. We want to be opportunistic but we also will take into account the impact on the Company, and its shareholders. We will follow the wisdom of Cicero, who said, 'Rashness belongs to youth; prudence to old age,'" Mr. Schissler concluded.
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 disorders. To find out more about Cord Blood America, Inc., visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
|SOURCE Cord Blood America, Inc.|
Copyright©2010 PR Newswire.
All rights reserved