Cannabis Science Inc. (OTCMKTS:CBIS) Decelerates Its Descent

Cannabis Science Inc. (OTCMKTS:CBIS) had a rough tumble with the rest of the marijuana branch when it became clear that the Grand Old Party is now at the helm, but, as evidenced by the charts, its plummet lasted only two days. True, the ticker is still painted red, but the last three sessions have pulled it down little more than 6%.

One can assume that this deceleration is in part due to the announcement the company made on Nov. 7. The press release that hit the web on that day proudly declared that CBIS “is in the final stages for the acquisition of a Marihuana for Medical Purposes (Canada) company”.

This is certainly good news, as acquiring a working entity would finally make CBIS operational, allowing the company to proceed from that point, to expand and grow.

Still, investors would do well to keep their cool and not get too excited about the announcement. After all, the acquisition is not a fact yet, and until it is CBIS is effectively hanging in the balance. And, speaking of balance, the company’s balance sheets for Q3 2014 are due by the end of this week, or two weeks later if CBIS files late.

However, even if the acquisition does happen soon, the effective changes to CBIS‘s financial standing after said acquisition will most likely be covered its annual report for 2014 – for obvious reasons. And that particular report is not due for quite a bit of time.

Sadly, investors thinking of committing to CBIS stock until that happens will more or less have to bet blindly. As it is now, due diligence on the company is next to impossible to do.