Matthew Schissler, CEO of Cord Blood America, addressed the shareholders concerning the company’s latest progress. He stated, “I am 100% confident in the ability of CBAI to continue to grow, thrive and be a leader in the stem cell storage industry. I am also extremely excited about the current and future prospects of the organization, and have never felt better about the direction of our Company.”
Cord Blood is very pleased with its many accomplishments. They have lowered operational loss, increased revenues, and halved the basic and diluted loss per share. In the second quarter, the company announced record revenues of $1.7 million and a gross profit for the first three months of the year of almost $599,259.
Earlier this year, the company promised to be aggressive in finding accretive acquisitions, but is also growing organically by using a sales model connected to health insurance provider channels. Cord Blood has assured investors that they are making every effort to become cash flow positive through such strategies as accretive assets, by reducing costs, and by focusing on strategic growth.
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