SANTA MONICA, Calif., Nov. 17 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (OTC Bulletin Board:
CBAI -
News), the umbilical cord blood stem cell preservation company (
http://www.cordblood-america.com ) focused on bringing the life saving potential of stem cells to families nationwide and internationally, said today that its founder and CEO, Matthew Schissler, in reviewing the year's financial performance, predicted that 2009 will be an excellent, milestone year for stem cell companies, including CBAI.
"The announcement that the incoming Obama Administration will lift the current Administration's ban on Federal funding for research on embryonic stem cells line is the breakthrough the industry and its investors have been waiting for," Mr. Schissler said. "We are very careful to explain that we don't deal with embryonic cells. Cord Blood America collects only umbilical cord blood stem cells at birth. But if researchers can make continued progress and additional discoveries in the use of stem cells to fight diabetes, cancer or heart disease, the number of people wanting to bank their baby's stem cells will increase dramatically."
Mr. Schissler said Cord Blood America focused in 2008 on the future and on becoming purely a stem cell company. "Our de-emphasis on an un-related business to stem cells reduced revenues, from $5.7 million to $3.3 million for the first nine months, however it means we've streamlined our operations to focus on more profitable sectors."
Because of steps taken in 2008, Cord Blood America is reporting: -- Gross profits for the first nine months have increased to $1.8 million, a 54 percent margin, compared to a 42 percent margin in 2007. -- SGA is down nearly $900,000, a 23 percent savings. -- Loss from operations is down nearly 20 percent. -- Loss per share is down 60 percent, from 0.05 to 0.02.
"It is important for our shareholders to understand that we are positioning Cord Blood America to be a key part of what we believe will be an excellent future for the stem cell industry. We know now how many lives are being saved through the use of umbilical cord blood stem cells in the treatment of leukemias and other blood diseases. We are confident many, many more will be saved in the future," Cord Blood America's founder said.
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI - News) 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 - News), visit our website at www.corcell.com. For investor information, visit www.cordblood-america.com.
CONTACT: Paul Knopick E & E Communications 949/707-5365 pknopick@eandecommunications.com
