Cord Blood America, Inc. (CBAI.OB) reports that $650,000 of convertible debt has been retired.
“Since the January 25, 2007 Effective Registration statement the holders of this convertible debt have been selling our common stock,” said Matthew Schissler, CEO.
“We are well aware that this has been a significant drag on the market and we are grateful for our many investors who have patiently waited through this difficult period. We have confirmed that the holders of the debt have converted all their U.S. Securities & Exchange Commission registered debt as of June 28, 2007.”
“This is a major milestone for Cord Blood America,” Mr. Schissler said. “As we have previously stated, we intend that new debts will be serviced by cash flow from existing business or from an acquisition.
We are focused on growing the business through organic growth, accretive acquisitions, and intelligent management, with the goal of becoming cash flow positive and continually improving the balance sheet.”
Cord Blood America 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.
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