It was announced today that Cord Blood America has retired a $1.35 million note which had been provided by JMJ Financial in May of 2009.
"We finished 2009 as we proceeded throughout the year, succeeding in a major effort to reduce debt and strengthen our balance sheet," said Matthew Schissler, CEO and co-founder, Cord Blood America. "The debt reduced, over $10.5 million, is the overwhelming majority we entered the year with and effectively all the debt available for retirement in 2009. We believe the minimal long term obligations left are immaterial in terms of standing in our way of future growth. This sets the table for 2010 to allow us to execute our three pillars of success: organic growth, acquisitions and diversification of our revenue stream."
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Cord Blood America (OTC 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
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