Cord Blood America reduces its debt by $3.7 million in the third quarter of 2009

Oct 7 2009

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.