Posted On: 04/24/2015 9:59:57 AM
Post# of 36
NEWS
Fri, 10 Apr 2015 12:45:00 GMT ~ Cord Blood America Announces Equity Investment by Red Oak Partners, LLC for Purposes of Debt Retirement and to Focus on Forward Growth, Adjourns Special Meeting to May 7th
[PR Newswire] - LAS VEGAS, April 10, 2015 /PRNewswire/ -- Cord Blood America, Inc. (www.cordblood-america.com) (OTC Bulletin Board: CBAI) ("CBAI" or the "Company"
today announced it has executed a purchase agreement for the sale of $0.724 million preferred equity investment funded by Red Oak Partners, LLC and its affiliates ("Red Oak" . All proceeds shall be used towards retiring debt owed to Tonaquint, Inc. Joseph Vicente, President of Cord Blood America, Inc. commented "In December 2014 we settled litigation with Tonaquint, Inc. which was a positive but resulted in monthly amortization and interest payments in excess of our estimated cash generation. Accordingly, the Company was weakly positioned and could not seize upon the sizable growth and market opportunities available to us. Red Oak's investment stabilizes our organization and allows us to immediately focus on growth endeavors, including taking market share from our competitors. We are adjourning the April 10th special meeting to May 7th in order to allow shareholders reasonable time to digest this investment and make an informed decision.
read full: http://finance.yahoo.com/news/cord-blood-amer...00679.html
Fri, 10 Apr 2015 12:45:00 GMT ~ Cord Blood America Announces Equity Investment by Red Oak Partners, LLC for Purposes of Debt Retirement and to Focus on Forward Growth, Adjourns Special Meeting to May 7th
[PR Newswire] - LAS VEGAS, April 10, 2015 /PRNewswire/ -- Cord Blood America, Inc. (www.cordblood-america.com) (OTC Bulletin Board: CBAI) ("CBAI" or the "Company"
today announced it has executed a purchase agreement for the sale of $0.724 million preferred equity investment funded by Red Oak Partners, LLC and its affiliates ("Red Oak" . All proceeds shall be used towards retiring debt owed to Tonaquint, Inc. Joseph Vicente, President of Cord Blood America, Inc. commented "In December 2014 we settled litigation with Tonaquint, Inc. which was a positive but resulted in monthly amortization and interest payments in excess of our estimated cash generation. Accordingly, the Company was weakly positioned and could not seize upon the sizable growth and market opportunities available to us. Red Oak's investment stabilizes our organization and allows us to immediately focus on growth endeavors, including taking market share from our competitors. We are adjourning the April 10th special meeting to May 7th in order to allow shareholders reasonable time to digest this investment and make an informed decision. read full: http://finance.yahoo.com/news/cord-blood-amer...00679.html
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