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Pat Romanski

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Cord Blood America Retires Note to Reduce Debt

Through August of 2009, company reduced its secured debt by $6.6 million

Cord Blood America, focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, said that it has retired a note, principal amount $160,000, in its continuing effort to reduce debt.

The convertible debenture was held by Tangiers Investors, LP, San Diego, California. "We told our stakeholders and potential investors that a major effort would be made throughout this year to reduce debt and strengthen our balance sheet. This is another example of fulfilling that commitment," said Matthew Schissler, co-founder and CEO.

Cord Blood America previously announced that, through August of 2009, it had reduced its secured debt by $6.6 million.

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