LAS VEGAS, Oct. 3, 2014 /PRNewswire/ -- Cord Blood
America, Inc. (www.cordblood-america.com) (OTC Bulletin Board:
CBAI) ("CBAI" or the "Company") today announced that it has sold
its 50.004% ownership stake in Argentina based Biocordcell Argentina, S.A.
(Bio) to Diego Rissola, current President and shareholder in Bio,
for approximately $705,000, to be
paid with three payments due by March
2015, and then annual payments from June 2015 through June 2025. The shares
purchased pursuant to the transaction, along with the shares Mr.
Rissola already held prior to the transaction, will be pledged in
favor of the Company in order to secure Mr. Rissola's
performance.
Joseph Vicente, Chairman and
President of Cord Blood America commented, "It is evident from our
filings over the past year and a half that the operating
performance of Bio has been deteriorating. While revenues have
declined slightly, more concerning are widening deficits for bottom
line operating losses which has put Bio in a position where
significant capital contributions from the shareholders were
required. Contributing to our decision is a politically
unstable environment which has seen inflation rates rise above 30%,
as well as a restrictive policy regarding dividend distribution to
US companies."
For CBAI, the decision was difficult, but clear; the uses of
capital need to be applied where the Company can exert the required
amount of influence to be successful with a tangible ROI. This is
evidenced by the recent loan to CBAI's exclusive marketing partner
in Puerto Rico as outlined in the
Q2 filing, and the Company will be aggressive in its pursuit of
opportunities where there is a measurable return. "We continue to produce
cash domestically, make investments in our operations, see evidence
of revenue growth, and thus, remain bullish that we are building a
strong foundation, both financially and scientifically, to seize on
the opportunities of the future," concluded Mr. Vicente.
About Cord Blood America
Cord Blood America, Inc. is the parent company of CorCell
Companies, Inc. which, along with Cord Blood America, Inc.,
facilitates umbilical cord blood and cord tissue stem cell
processing and storage for expectant parents and their
children. 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. and CorCell Companies, Inc., visit
our websites: http://www.cordblood-america.com/ for investor
information and http://www.corcell.com/ for customer
information.
Forward-Looking Statements
Some statements made in this press release are forward-looking
statements. 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 Cord Blood America'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.
Investor Contact:
Cameron Donahue
Hayden IR
(651) 653-1854
cameron@haydenir.com
SOURCE Cord Blood America, Inc.