Cord Blood America, Inc. (CBAI.OB), reports that it has reached agreement to retire the debt to the Bergen Community Regional Blood Centers, Paramus, New Jersey, six months ahead of maturity.
The original note was for 12 months, for a quarter of a million dollars plus interest. Cord Blood America made six payments and now has retired the debt using a combination of cash flow and money from a private investor.
“This agreement frees up cash for Cord Blood America and is an important step in ensuring our financial soundness,” said Matthew Schissler, CEO, Cord Blood America. “We intend to keep retiring debt. We also intend for any new debts to be serviced by cash flow from existing business or from an acquisition.”
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