$0.00157 per share to be paid on or about April 14, 2023
BOCA RATON, FL / ACCESSWIRE / April 12, 2023 / CBA Florida, Inc. (www.cbafloridainc.com) ("CBAI" or the "Company") today announced that its Board of Directors (the "Board") has approved a liquidating cash distribution of approximately $2 million, or $0.00157 per share, to shareholders of record as of April 4, 2023. The distribution will be paid on or about April 14, 2023. As previously disclosed, in connection with the effectiveness of the Company's articles of dissolution, CBAI closed its stock transfer books and discontinued recording transfers of common stock, effective as of 5:00 p.m. Eastern Time on June 26, 2020. As a result, the common stock, and stock certificates evidencing the shares of common stock, have not been assignable or transferable on the Company's books, other than transfers by will, intestate succession or operation of law. For those shareholders receiving a distribution of $0.01 or less, they will receive a credit to their account at Direct Transfer, LLC ("Direct Transfer"). Those shareholders that receive a credit in lieu of a cash distribution can request their funds from Direct Transfer via an ACH transfer. Any shareholder questions regarding the liquidating distribution may be addressed to the payment agent at Direct Transfer who can be reached via phone at (919) 744-2722 or e-mail at [email protected].
Subject to uncertainties inherent in the continued winding up of the Company, CBAI may make an additional liquidating distribution. However, no assurances can be made as to the ultimate amount to be distributed, if any, or the timing of any such distribution.
About CBA Florida, Inc.
CBA Florida, Inc., formerly Cord Blood America, Inc., does not currently have any active business operations and consists of the cash and liabilities remaining post-closing of the sale of substantially all of the Company's assets.
Some statements made in this press release are forward-looking statements. The Company uses words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. These statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its continuing limited operations, as well as liabilities and third-party claims currently existing or which may arise in the future. The Company encourages you to review other factors that may affect its future results in its filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur. The Company does not undertake, and the Company specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
SOURCE: CBA Florida, Inc.