BioMedReports: There has been some talk about the upcoming opening of your new state-of-the-art facility. Can you tell us about that?
CEO Matthew L. Schissler: We always try to focus on three core goals and in 2010 we are opening our new state of the art laboratory. One of those three core goals is the diversification of revenue streams. Not only will we have our own organic growth engine, by processing and storing for our own company, but we recently entered into a letter of agreement to process and store for another very successful stem cell company. That’s going to be the flavor for 2010 and onward- diversification of revenue streams by using our new facility to its full capacity. The other goal is continued growth- like we saw mention of when we announced in late 2009 when we signed an agreement with a national labor association, Blue Cross and Blue Shield Association. That’s how we’ll grow some more, through the insurance companies. And finally, we’re going to be very focused on acquisitions. In fact, I’ll tell you that in 2010 we have a voracious appetite for acquisitions. With the economy the way it is, a lot of stem cell companies are struggling and we’ve been very fortunate to have our company go in the right direction by reducing debt and raising capital. We feel it’s a very good time for us to make some acquisitions and so we’re going to be very focused on that this year.
BioMedReports: So I would imagine that these acquisitions are somehow related to the goal of increasing your revenue streams in some way?
CEO Matthew L. Schissler: The overall goal in our mission statement is to not only become the world’s number one most respected stem cell company but also to be the largest as well. As we say in our mission statement, the world’s globally dominant stem cell storage company and so, those acquisitions will be in related fields, but I can’t say too much but it’s all about cryogenic preservation of stem cells and other forms of biologics.
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