Replies to post #52305 on CBA Florida Inc. (fka CBAI)

[rockyl23]

help me out,doesnt't this say we don't have funds for c c de mex
In the case of Cryo-Cell de Mexico, the Company entered into a Letter of Intent on December 8, 2010, subject to material conditions subsequent which must be satisfied prior to any closing, for the acquisition of all of the business and assets (excluding real estate), of Cryo-Cell de México. However, the Company has not completed its due diligence investigation of Cry-Cell de Mexico, nor has it identified a source for the substantial amount of equity capital which the Company would be required to raised in order to move forward with any such acquisition. As a result, a possible acquisition of Cryo-Cell de Mexico is most uncertain at this date, and this solicitation of an amendment of the Company’s Articles of Incorporation to increase authorized capital stock does not relate specifically to, nor should not be construed as a referendum on, this possible acquisition, due to these uncertainties.

At this date the Board of Directors is proposing an expansion of the authorized Capital of the Company by amending its Article to fix authorized capital after the reverse stock split at 100,000,000 capital shares, because in management’s opinion the Company does not and will not have authorized but unissued shares sufficient to undertake future, and as yet undetermined, strategic acquisitions which management would like to pursue. In addition, in management’s opinion the Company does not and will not have sufficient authorized but unissued shares after effecting the reverse stock split, sufficient to raise additional capital which will be required to sustain Company operations until such time as the Company, though acquisitions and/or expansion of its existing markets, reaches levels of break even and then positive cash flow. There is of course no assurance that the Company will obtain such levels.