Cord Blood America President Says Company Must Continue Improving Financial Results
LAS VEGAS, Aug. 22, 2012 /PRNewswire/ -- Cord Blood America, Inc. (www.cordblood-america.com) (OTC Bulletin Board: CBAI) ("CBAI" or the "Company"), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells to families nationwide and internationally, said today that President Joseph Vicente was interviewed by analyst Francis Gaskins about the Company's recent financial performance and its strategies for the future.
The entire interview is available at: http://gaskinsco.com/cbai-8-20.mp3.
Mr. Vicente said in the interview that the Company was able to operate on its own cash in the second quarter of 2012. Management analyzed "every dollar being spent" and made "reductions across the board, reducing unnecessary expenses that do not contribute to sales. We are structurally aligning expenses with revenues."
In the interview, Mr. Vicente details some of the Company strategies to increase revenues in the future and said it is important that CBAI "demonstrate profits" to take "advantage of numerous future opportunities" within the stem cell sector.
Finally, CBAI's President said that although the Company's financial situation has improved and the Company did not take any additional financing in Q2, it is not generating enough cash to pay off its entire debt balance. He urged shareholders to approve an increase in the number of authorized shares "as a means to retire out legacy debt and move forward."
About Cord Blood America
Cord Blood America is the parent company of CorCell Companies, Inc. which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. 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 about Cord Blood America, Inc. and CorCell Companies, Inc., visit our websites: http://www.cordblood-america.com/ for investor information and http://www.corcell.com/ for customer information.
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 Cord Blood America'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.
SOURCE Cord Blood America, Inc.