A business relationship with a multi-million dollar pharmaceutical technology provider – is it happening for Cannabis Science Inc.(OTC:CBIS)? Traders, as it seems, believe it is; hence the million shares exchanging hands and the 45% increase in the stock price. It would be an interesting development, given the financial condition of the company. 
So, 19 million shares exchanging hands on Wednesday. Solid increase in the share price, the session closing at $0.05 per share. A busy day for shorters, as short-selling activity amounts to more than 5 million yesterday. All this, as a result of the press release around noon. One that is full of things that are to come. No names, unfortunately, just the expectation that this multi-million dollar partner could be announced in the next few days. The thing is, similar announcements have come out in the past, one example being the press release from May. Yet, expect for a few sharp spikes on the stock market, fueled by promotions and or positive news, it has been a period of price decline for Cannabis Science for quite some time now. Numbers tell it all:[BANNER]
- $10k in cash;
- $13k in total current asset;
- $1.6 million in total current liabilities;
- $64 million in accumulated deficit;
- $11k in revenues;
- $2.7 million in net loss.
This is what the 10-Q includes, the one covering the first 3 months of 2011. Just one reason why Cannabis Science has difficulties achieving sustainable growth in the stock price. Despite the noticeable net loss, however, there are reasons for hope, as well. The expected partnership is just one, but the most important not to go overlooked is the very field this enterprise operates in. A field, highly controversial, but lucrative, nevertheless. Whether Cannabis Science could take its place as a major player in it, is a question yet to find its answer.
