Cord Blood America was pleased to announce this morning that $650,000 of convertible debt has been retired.
Matthew Schissler, CEO of Cord Blood, stated, “’Since the January 25, 2007 Effective Registration statement the holders of this convertible debt have been selling our common stock. 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.”
He continued to say that the retirement is a major milestone, and the company intends to service future debts with cash flow from existing business or with an acquisition.
In conclusion he stated, “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.”
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