LAS VEGAS, Jan. 6 /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, a biological insurance policy, to families nationwide and internationally, today said that it has retired a $1.35 million note which had been provided by JMJ Financial in May of 2009.
"We finished 2009 as we proceeded throughout the year, succeeding in a major effort to reduce debt and strengthen our balance sheet," said Matthew Schissler, CEO and co-founder, Cord Blood America. "The debt reduced, over $10.5 million, is the overwhelming majority we entered the year with and effectively all the debt available for retirement in 2009. We believe the minimal long term obligations left are immaterial in terms of standing in our way of future growth. This sets the table for 2010 to allow us to execute our three pillars of success: organic growth, acquisitions and diversification of our revenue stream."
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.
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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.
SOURCE Cord Blood America, Inc.