LAS VEGAS, May 20 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (http://www.cordblood-america.com/) (BULLETIN BOARD: CBAI) , the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, announced today that it has filed its Form 10-Q for the first quarter ended March 31, 2010 with the U.S. Securities and Exchange Commission. The filing is available at http://www.sec.gov/.
"The first quarter represents an investment in growth," said Matthew Schissler, Cord Blood America co-founder and CEO. "We invested in Europe and will begin recognizing revenues, and expenses, for our purchase of 51 percent of stellacure GmbH, one of the largest cord blood banking services in Germany, in the second quarter of 2010. We continue negotiations for an acquisition in South America, and announced a licensing agreement in China, as we seize the opportunity in a 'down' market to build a global brand."
The Company announced that revenue decreased to $839,343 in the quarter ended March 31, 2010, compared to $941,938 in the same period in 2009. This reflects continued de-emphasis of Rainmakers International, Cord Blood America's advertising company, with total focus on becoming a "pure," worldwide, stem cell company. Revenues from the storage of umbilical cord blood stem cells was up slightly in 2010 compared to the first quarter of 2009, which the Company said signals a stabilizing of the overall market for cord blood processing and storage.
"Our new laboratory in Las Vegas became fully operational in March 2010. This will allow us to improve cost controls by having our own, in-house operations for processing and storage. During the first quarter, we were paying both for getting our lab ready for operations and for outsourcing this function," Mr. Schissler said.
Mr. Schissler also stressed that, compared to $106,883 in cash at March 31, 2009, the Company reported its cash position increased to $836,186 at March 31, 2010, with several financing instruments also in place. "I continue to be confident that we have positioned Cord Blood America to take advantage of acquisition opportunities in the sector in 2010, to increase organic growth, and to diversify our revenue stream," CBAI's CEO said.
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 Forward-Looking Statements
Some statements made in this press release are forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate,' "believe,' "expect,' "future,' "intend,' "plan,' and similar expressions to identify forward-looking statements. These statements including those related to the growth of the industry, new stem cell treatments, and the Company's performance, are only predictions and are subject to certain risks, uncertainties and assumptions. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
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/
