Friday, Cord Blood America announced that founder and CEO Matthew Schissler provided details of the company’s special shareholder meeting in March. The details were given in an interview with analyst Francis Gaskins. The complete interview can be heard at: http://www.stoxrox.com/cbai-2-18-09-e.mp3
In the interview, Mr. Schissler explained why the company would like to increase its authorized shares. He said that authorized is “vastly different from outstanding” and the company has no commitments or understandings for the issuance of additional outstanding shares other than those currently on file at the SEC.
“Our goal is to be ahead of the game. We want to grow the Company into a global leader in the storage of stem cells and that includes the ability to act and react quickly. We also want to benefit from what we believe will be greatly increased research in this sector. This lets us control our destiny,” Mr. Schissler stated.
When asked why Cord Blood America is looking for such a large increase in authorized shares, the CEO replied, “This is a time-consuming, costly process and we only want to do it once in the Company’s history.”
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