Cord Blood America, Inc. (CBAI.OB) previously announced that $650,000 of convertible debt was retired.
Matthew Schissler, CEO of CBAI, stated that “Since the January 25, 2007, Effective Registration statement the holders of this convertible debt have been selling our common stock”. The CEO further stated “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.”
Mr. Schissler firmly discussed that all future debt will be served by cash flow from their direct business’s actions or cash flow through an acquisition, not through engaging in Convertible Debentures. Schissler affirmed “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”.
