CBA Florida Inc. (fka CBAI)

[Agent92260]

The original PR ... appears the funds were already set aside ...

On May 5, 2010, the Company executed and funded a Debtor-In-Possession loan agreement with ViviCells International, Inc. a Florida corporation (“Vivi”), NeoCells, Inc., an Illinois corporation, and AdultCells, Inc., an Illinois corporation, (jointly and severally referred to as the “Subsidiaries”). This loan was done in conjunction with the Company's preparation as a co-proponent of a Plan of Reorganization under the United States Bankruptcy Code, pursuant to which the Company proposes ultimately hold 95% of the outstanding shares of Vivi and thereby acquiring its business and assets, in exchange for the issuance of up to 75.6 million shares of restricted Company common stock. Pursuant to the terms of the Debtor-in Possession Loan Agreement the Company loaned Vivi the principal amount of $200,000. The loan carries interest at 10% per annum, with principal and all accrued interest all due and payable on March 15, 2011. The debtor in this agreement and its two subsidiaries, each pledged all their assets and business to secure the loan, and agreed that the loan would have senior security status.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54243948