Message #62 From:
Stock News Bot Date: April 26, 2009 11:10:10 AM
CBAI Stock News, Cord Blood America Further Reduction, $817,000, in Long-Term Debt
SANTA MONICA, Calif., April 23
/PRNewswire-FirstCall/ -- Cord Blood America, Inc. (Stock NewsOTC 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.'
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
