LAS VEGAS, Oct. 7 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com/ ) focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, said today that it has reduced its debt by a total of $3.7 million in the third quarter of 2009. Total debt eliminated in 2009 is $8.7 million.
"We recently announced the retirements of four separate notes and wanted to give our investors a concise tally for the quarter. We have emphasized to our investors throughout the year that debt reduction is one of the pillars needed for our ongoing and future success. We are pleased that we have been able to consistently announce debt reductions in 2009. We urge our shareholders to continue to follow our progress as we strengthen the Company and its balance sheet for the long term," said Matthew Schissler, co-founder and CEO.
Cord Blood America also announced this year that it retired $2.53 million of long-term debt with an opportunity fund and that it received a $2.3 million commitment to finance its stem cell laboratory and headquarters in Las Vegas.
About Cord Blood America
Cord Blood America (BULLETIN BOARD: CBAI) is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc. (BULLETIN BOARD: CBAI) , visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
CONTACT: Paul Knopick E & E Communications 949/707-5365 pknopick@eandecommunications.com
Cord Blood America, Inc.
CONTACT: Paul Knopick of E & E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for Cord Blood America, Inc.
Web Site: http://www.cordblood-america.com/
http://www.corcell.com/
