LAS VEGAS, Dec. 16 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, a biological insurance policy, to families nationwide and internationally, said today that it has reduced its debt by a total of $1.4 million so far in the fourth quarter of 2009 and total debt eliminated for the year now tops $10 million.
"We said going into this year that reducing debt, and subsequently strengthening our balance sheet, would be a very high priority," said Matthew Schissler, co-founder and CEO. "With more than $10 million in debt retired, we succeeded in this goal and are very pleased to make this announcement to our shareholders."
Cord Blood America recently announced a grand opening of its stem cell laboratory and headquarters in Las Vegas on January 22, 2010. "We can salute this financial achievement as we open perhaps the largest cryogenic storage facility in the U.S.," Mr. Schissler 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.