Cryo-Cell Announces Certified Results of Annual Shareholders Meeting
OLDSMAR, Fla., Aug. 1 /PRNewswire-FirstCall/ -- Cryo-Cell International Inc. (OTC Bulletin Board: CCEL), announced today that IVS Associates, Inc., the independent Inspector of Elections, has certified the election results for the annual meeting of shareholders held July 16, 2007. Based on the final tabulation and certification by IVS, Mercedes Walton, Gaby W. Goubran, Scott Christian, Jagdish Sheth, Ph.D., Anthony P. Finch, and Andrew J. Filipowski were elected as directors of the Company.
"On behalf of Cryo-Cell's Board of Directors and management, we thank all of our shareholders for their continued support and confidence," said Mercedes Walton, Cryo-Cell's Chairman and CEO. "We are focused on executing our plan to improve the performance of our business and building upon the strength of our intellectual property. We remain steadfast in our commitment to enhance value for all of our shareholders."
IVS also certified the results of the other proposals voted on at the annual meeting. Cryo-Cell shareholders approved the appointment of Grant Thornton LLP as the independent registered public accountants of the Company for the fiscal year ending November 30, 2007, and the stockholder proposal urging the Board of Directors to adopt procedures permitting certain shareholder nominations for election to the Board.
About Cryo-Cell International, Inc.
Based in Oldsmar, Florida, with over 140,000 clients worldwide, Cryo-Cell is one of the largest and most established family cord blood banks. ISO 9001:2000 certified and accredited by the AABB, Cryo-Cell operates in a state- of-the-art Good Manufacturing Practice and Good Tissue Practice (cGMP/cGTP)- compliant facility. Cryo-Cell is a publicly traded company. OTC Bulletin Board Symbol: CCEL. Expectant parents or healthcare professionals may call 1-800-STOR-CELL (1-800-786-7235) or visit www.cryo-cell.com.
Statements wherein the terms "believes", "intends", "projects" or "expects" as used are intended to reflect "forward-looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include the uncertainty of market acceptance of any potential service offerings relating to types of stem cells other than cord blood stem cells, given that such new stem cells have not yet been used in human therapies, and treatment applications using such stem cells are subject to further research; the need to complete certain developments, including completion of clinical validation and testing, before any such process can be commercialized, and the Company's development of its final business and economic model in offering any such service; any adverse effect or limitations caused by recent increases in government regulation of stem cell storage facilities; any increased competition in our business; any decrease or slowdown in the number of people seeking to store umbilical cord blood stem cells or decrease in the number of people paying annual storage fees; any adverse impacts on our revenue or operating margins due to the costs associated with increased growth in our business, including the possibility of unanticipated costs relating to the operation of our new facility; any technological breakthrough or medical breakthrough that would render the Company's business of stem cell preservation obsolete; any material failure or malfunction in our storage facilities; any natural disaster such as a tornado, other disaster (fire) or act of terrorism that adversely affects stored specimens; the costs associated with defending or prosecuting litigation matters and any material adverse result from such matters; decreases in asset valuations; any continued negative effect from adverse publicity in the past year regarding the Company's business operations; any negative consequences resulting from deriving, shipping and storing specimens at a second location; and other risks and uncertainties. The foregoing list is not exhaustive, and the Company disclaims any obligations to subsequently revise any forward- looking statements to reflect events or circumstances after the date of such statements. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-KSB, Quarterly Reports on Form 10-QSB and any Current Reports on Form 8-K filed by the Company.
Contact: Mona J. Walsh Edelman 212-704-4598 firstname.lastname@example.org
SOURCE Cryo-Cell International Inc.
Released August 1, 2007