Cord Blood America Nearing Completion of Construction of Las Vegas Laboratory; One of the Largest Cryogenic Storage Labs in U.S.
Thursday, 10 September 2009 06:00 Cord Blood America, Inc.
SANTA MONICA, Calif., Sept. 10 - Cord Blood America, Inc. (OTC Bulletin Board: CBAI - News), the umbilical cord blood stem cell preservation company (www.cordblood-america.com ) focused on bringing the life saving potential of stem cells, a biological insurance policy for families nationwide and internationally, said today that it is on schedule to complete the construction of its new Las Vegas laboratory by the first week of October.
Matthew Schissler, founder and CEO, was interviewed by analyst Francis Gaskins. The entire interview is available at www.stoxrox.com/cbai-9-10-09.mp3 .
"Most of the equipment has been purchased and we are scheduled to begin processing our own stem cells in the near future," Mr. Schissler said in the interview. He said the new laboratory will:
Allow gross profit to increase greatly because the Company will no longer outsource and pay significant storage fees.
Allow Cord Blood to store tissues and samples for other companies.
Decrease transportation costs because the lab is near the large Las Vegas airport.
Allow for the storage of other stem cells such as adipose tissue and peripheral blood stem cells.
Prepare the Company for the future, with more medical uses of stem cells expected every year.
"This facility will perhaps be the largest cryogenic storage lab in the U.S. We believe adding business-to-business clients, and diversifying our income stream, will provide immediate returns for shareholders," Mr. Schissler said.
In the interview, Cord Blood America's CEO said $6.6 million in debt has been eliminated from the balance sheet so far this year and "we will continue to reduce debt as far and fast as possible. Shareholders should understand that once the debt is gone, the true valuation of the Company will emerge."
About Cord Blood America
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. To find out more about Cord Blood America, Inc. (OTC Bulletin Board: CBAI), visit our website at www.corcell.com. For investor information, visit www.cordblood-america.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.
CONTACT:
Paul Knopick
E & E Communications
949/707-5365
pknopick@eandecommunications.com
Quelle: www.cordblood-america.com/Cord-Blood-America-News/cor…
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