Cord Blood America (OTC: CBAI) is a holding company of Cord Partners, CorCell Ltd., CorCell Co. Inc., CBA Professional Services, Inc. CBA Properties, Inc. (Properties), D/B/A BodyCells, Inc. (BodyCells) and Career Channel Inc, D/B/A Rainmakers International (Rain). It is segregated in four business segments of Cord, BodyCells, Properties and Rain. The Cord segment specializes in providing private cord blood stem cell preservation services to families. The BodyCells segment is a developmental stage company. The Properties segment was formed to hold the corporate trademarks and other intellectual property rights. The Rain segment has specialized in creating direct response television and radio advertising campaigns, including media placement and commercial production. The Company recently acquired shares of Stellacure GmbH.
The company reported a growth in revenues of 12% during the quarter and most of that growth is contributed by the acquisitions made by the company. A major portion of the revenue came from their German acquisition.
The company also reported that it retired $1.1 million of debt from JMJ Financial. The company also reported that after extensive negotiations, it cancelled a 36 million share warrant agreement with Shelter Island Opportunity Fund LLP and has replaced it with a senior secured note of principal amount of $1.59 million.
CEO and co-founder Matt Schissler also mentioned that the company is meeting its goals and is back on track accomplishing all its annual targets. The company intends to do more acquisitions in 2010 and also grow organically. The company has been able to implement its strategy in Europe and its performance in China and South America will be contributing a lot more than expected to the top-line. The acquisitions are also helping the company to have a more diversified portfolio or business for the company.
The company recently announced a Quality Service Guarantee of $50,000 for their customers. The company will pay the owner of umbilical cord blood stem cells $50,000, if the stored stem cells are used in a hematopoietic stem cell transplant and the stem cells fail to engraft.
The penny stock of Cord Blood America Inc. is currently trading below its 50-day and 200-day moving averages.
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