Navigation Links
Cord Blood America Says Balance Sheet Significantly Strengthened in 2009
Date:8/17/2009

SANTA MONICA, Calif., Aug. 17 /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 its 10Q filing with the U.S. Securities & Exchange Commission for the second quarter of 2009 shows a significantly improved balance sheet.

At June 30, 2009, Cord Blood America's working capital had increased by almost $4 million compared to year-end 2008. This is a 90 percent improvement in only six months.

The Company also had a balance of $324,549 in cash, an important increase as Cord Blood America moves forward with organic growth and possible acquisitions.

Further the 10Q has a schedule detailing the repayment of $5 million in debt in the first half of the year, one of the pillars needed for the Company to succeed.

"While revenues were down, due to very difficult economic conditions, and a significant de-emphasis on our advertising business, we are confident we have built the strong foundation necessary for the growth our shareholders want," said Matthew Schissler, founder and CEO.

"In addition, we anticipated being cash flow positive this year. However one time charges in Q2 including the cost of capital for the $7.5M raised, and significant testing and auditing of our SOP's, coupled with the excellent opportunity to build one of the largest stem cell storage facilities in the country, delayed this in the short term. There were significant sunk costs in Q2 that couldn't be avoided. All measures were taken to strengthen CBAI for the long term."

Mr. Schissler concluded: "Once the stem cell storage and research and development lab in Las Vegas is completed, CBAI will immediately increase our gross margins, bringing us closer to cash flow positive."

The 10Q can be found in its entirety at www.sec.gov.

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.

Forward-Looking Statements

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.

    CONTACT:
    Paul Knopick
    E & E Communications
    949/707-5365
    pknopick@eandecommunications.com


'/>"/>
SOURCE Cord Blood America, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Heroes of Chemistry for saving teeth, clean water, new high blood pressure drug
2. Bayer Statement on U.S. Food and Drug Administration Advice for Patients: Serious Errors with Certain Blood Glucose Monitoring Test Strips
3. BD and PEPFAR Collaboration Will Improve Blood-Drawing Practices in Hospitals and Clinics in Sub-Saharan Africa
4. MRI Simulation of Blood Flow Helps Plan Childs Heart Surgery
5. Cold, Flu or Pneumonia? Answer May Lie in Blood Test
6. U.S. Navy Awards Entegrion Contracts for $4 Million for the Development of Critical Blood Products
7. Memorial Blood Centers Joins Extreme Makeover: Home Edition As Designated Charity
8. Blood transfusion study: Less is more
9. Gut Hormone Could be Key to Blood Sugar
10. GenVaults GenSolve(TM) Reagents Enable State-of-the-Art Genomic Analysis of Dried Blood Spots
11. Silenced genes as a warning sign of blood cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... Ontario (PRWEB) , ... February 05, 2016 , ... After ... Scarborough General Hospital Burn Unit, plastic and cosmetic surgeon Dr. Wayne Carman transitioned to ... Scarborough Hospital. He successfully completed his first three-year term as chief and began a ...
(Date:2/5/2016)... ... February 05, 2016 , ... Regular gym users know the ... to wait longer to access the treadmills. It’s a predictable trend. After the excesses ... weight and get in shape by joining gyms, starting new walking or running routines, ...
(Date:2/5/2016)... ... February 05, 2016 , ... Dr. Justin Scott and Dr. ... Annual No Cost Dental Day to individuals in need. The event is scheduled to ... No Cost Dental Day is to provide dental care to community members in need. ...
(Date:2/5/2016)... ... 05, 2016 , ... Health and wellness is a topic that should concern ... they are experiencing an illness. Migraines are a severe form of a headache and ... would not wish the pain on their worst enemy, the feeling can last for ...
(Date:2/5/2016)... CA (PRWEB) , ... February 05, 2016 , ... –This ... on the benefits of having a tankless water heater. To view the report, ... water heaters: tank and tankless. While each has their pros and cons, the type ...
Breaking Medicine News(10 mins):
(Date:2/5/2016)... 2016 --> ... "Fetal (Labor & Delivery) and Neonatal Care Equipment Market ... Oximeter, Phototherapy/Jaundice Management Devices, CPAP, Capnograph, & Resuscitator) - ... studies the global market over the forecast period of ... 6.28 Billion in 2015 and is poised to grow ...
(Date:2/4/2016)... -- For hospitals considering enrollment in the Federal 340B ... program, the Health Resources and Services Administration,s (HRSA) recent ... , could have significant impact on plans and operations, ... Essential Insights , Daniel Neal, director ... Mega-Guidance,s key proposed changes, including a new requirement that ...
(Date:2/4/2016)... CITY, Calif. , Feb. 4, 2016 /PRNewswire/ ... "Company") today announced it has entered into a ... Exchange Commission (SEC) fully resolving the SEC,s investigation ... Act (FCPA).  Under the terms of the settlement ... of $12.8 million, including disgorgement, pre-judgment interest and ...
Breaking Medicine Technology: