JOINT DISBURSEMENT INSTRUCTIONS FOR CLOSING: July 6, 2005
EXHIBIT 10.30
JOINT DISBURSEMENT INSTRUCTIONS
FOR CLOSING: July 6, 2005
The undersigned do hereby:
1.
Acknowledge the execution of the Amended and Restated Promissory Note dated June 21, 2005, and amended on July 6, 2005 (Promissory Note) between CORD BLOOD AMERICA, INC., a Florida corporation (the Company) and Cornell Capital Partners, LP (Cornell), in the amount of $600,000, of which $475,000 has previously been funded and the remaining $125,000 shall be funded on July 6, 2005 in accordance with the Promissory Note.
2.
Represent that all conditions precedent to Third Closing of the Promissory Note 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 | $125,000 | ||
Less Fees: | To Yorkville Advisors Management, LLC | |||
Commitment Fee (7.5% of $125,000) | ($9,375) | |||
($9,375) | ||||
To Tedder, James, Worden & Associates, P.A. | ($44,550.34) | |||
Net Proceeds: | Payable to the Company | $71,074.66 |
[SIGNATURE PAGE TO FOLLOW]
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 |