Cord Blood America Continues to Reduce Debt; Three Notes Retired

Written By Admin

Monday, October 05, 2009

 

LAS VEGAS, Oct. 5 - Cord Blood America, Inc. (OTC Bulletin Board: CBAI - News), 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 retired three more significant debts with originally issued principal amounts of $212,959, $250,000 and $285,000.

On October 2, the Company announced retirement of a $160,000 note.

The $212,959 and $250,000 notes were signed in 2007 with CorCell, Inc., which became Cord Blood America's operating unit, CorCell Companies, Inc., and were purchased by JMJ Financial. The $285,000 note was originally signed in August 2006 with Strategic Working Capital and subsequently purchased by JMJ Financial. All three notes were retired by September 30, 2009.

"A major effort has been made this year to reduce debt and strengthen our balance sheet for our future and our shareholders' future. We are proud of these accomplishments," said Matthew Schissler, co-founder and CEO.

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

 


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