Cord Blood America, Inc., the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children, today provided shareholders with a performance update of Biocordcell Argentina S.A. (BioCells, Inc.), which is 50.1 percent owned by Cord Blood America.
“January through August revenues in 2011 are up 40 percent to $1.18 million (U.S.),” said Diego Rissola, president of BioCells, Inc. “The increase in revenues reflects the fact that we have established franchises in six provinces in Argentina and we opened an office in Miami, Florida, to service the Latin American population there. We are now signing 11 percent more new contracts than we did in the same period in 2010.”
“We have been successful with e-marketing, using a new web page and social media. We also now have operations in Brazil and the Dominican Republic, and the development of storing dental pulp is proving to be a potential revenue enhancer for the Company,” Mr. Rissola added.
“BioCells of Argentina has performed fantastically in a down global economy. We’ve realized great growth, profitability, just a good story all around. We’re fortunate to have purchased the control position of this ever expanding company,” stated Matthew Schissler, CEO of Cord Blood America.
Investors should note that the revenue and other financial estimates contained in the press release issued today have not been audited or reviewed by Cord Blood America’s independent auditors. The company provided no assurance that these preliminary results will not change following the completion of its financial audit for Fiscal 2011.
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