Joint Disbursement Instructions for Cord Blood America, Inc. Promissory Notes Offering (June 21, 2005)

Contract Categories: Business Finance › Escrow Agreements
Summary

Cord Blood America, Inc. and Cornell Capital Partners, LP agree on how to distribute $300,000 in proceeds from the sale of promissory notes. After deducting specified fees to Yorkville Advisors Management, Kirkpatrick & Lockhart Nicholson Graham, and Tedder, James, Worden & Associates, the remaining funds are to be paid to Cord Blood America, Inc. The instructions confirm that all conditions for closing have been met and authorize attorney David Gonzalez to make the disbursements as directed.

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EX-10.27 4 exhibit1027.htm JOINT DISBURSEMENT INSTRUCTIONS BP - x1-54415 - Cord Blood America - Exhibit 10.27

EXHIBIT 10.27


JOINT DISBURSEMENT INSTRUCTIONS

FOR CLOSING:  June 21, 2005



The undersigned do hereby:


1.

Acknowledge the acceptance of subscriptions from purchasers representing gross proceeds of $300,000 from the issuance of Promissory Notes of CORD BLOOD AMERICA, INC., a Florida corporation (the “Company”).


2.

Represent that all conditions precedent to closing of the Company’s offering of the Promissory Notes have been satisfied or waived; and direct that David Gonzalez, Esq. disburse the gross proceeds of the offering at the joint direction of the undersigned as follows:


To be disbursed via wire transfer in immediately available U.S. funds, payable to the following parties:


Gross Proceeds:

From Cornell Capital Partners, LP

      

  

      

$

300,000

 
         

Less Fees:

To Yorkville Advisors Management, LLC

       
 

Commitment Fee (10% of $175,000)

 

($

17,500

)

   
 

Commitment Fee (7.5% of $125,000)

 

($

9,375

)

   
 

Structuring Fee ($500 x 7)

 

($

3,500

)

   
 

Structuring Fee

 

($

5,000

)

   
      

($

35,375

)

         
 

To Kirkpatrick & Lockhart Nicholson
Graham, LLP

    

($

20,523.44

)

 

To Tedder, James, Worden & Associates, P.A.

    

($

44,550.34

)

         

Net Proceeds:

Payable to the Company

    

$

199,551.22

 


CORD BLOOD AMERICA, INC.

          

CORNELL CAPITAL PARTNERS, LP

   
  

By:   Yorkville Advisors, LLC

  

Its:   General Partner

   

By:

 

By:  

   

Name:   Matthew L. Schissler

 

Name:   Mark Angelo

Its:   Chairman and CEO

 

Its:   Portfolio Manager