IT Tech Packaging Inc (ITP)

[10atious]

Hey Lou,


I posted this on #784

It is an e-mail that the CFO sent me regarding what legal action could be taken against Muddy Water.


We have one shareholder class action lawsuit, which was filed in August 2010 by 3 individual investors with a total loss of about $150,000. We filed a motion to dismiss with the court and is waiting for the judge to hear the case.



Unfortunately, because of the pending class action lawsuit, our attorneys strongly advise that we do not to consider legal action against Muddy Waters until after the class action is dismissed. We will keep the public updated with the development of the legal matters. It’d be inappropriate for me to discuss the legal strategy publicly at this time.



We feel for your pain and thank you for your continued support for Orient Paper Inc. We are still working on something to fight the abuses by Muddy Waters. We will keep the investors updated.




This is an excerpt from a CNBC article:
Winston Yen, the CFO of Orient Paper Orient Paper told CNBC: "We certainly believe the Muddy Waters report on Orient Paper is totally false, (but) we have to be very careful in picking the right type of thing to do against Muddy Waters."

Block said he was not worried about lawsuits from companies he has targeted, since Muddy Waters was “careful.” He added that he has not been sued by anyone so far.

http://www.cnbc.com/id/43765929/

Maybe they can go after Muddy Waters now.

[loubigfish]

Orient Paper Wins Motion to Dismiss Complaint Filed by Tribank Capital

BAODING, China, July 19, 2011 /PRNewswire-Asia/ -- Orient Paper, Inc. (AMEX: ONP) ("Orient Paper" or the "Company"), a leading manufacturer and distributor of diversified paper products in northern China, announced today that on July 18, 2011, United States District Court Judge Manual Real ("the Court") granted Orient Paper motion to dismiss the complaint filed against the Company by Tribank Capital Investments, Inc.

The Court granted the motion in its entirety, finding that venue is improper because the contract that forms the basis of the parties' relationship contains a valid and enforceable forum selection clause providing that the Hong Kong Special Administrative Region of China is the exclusive forum for resolution of disputes. The Company continues to believe that the action is without merit, and will vigorously defend any further litigation brought by Plaintiff.

[loubigfish]

Morning all ... Let's get ready for some trading... Latest info on the net....



HIGHEST OPERATING MARGIN IN THE PAPER PRODUCTS INDUSTRY DETECTED IN SHARES OF ORIENT PAPER (ONP, BKI, KS, MWV, NP)





Jul 18, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the top five companies in the Paper Products industry as ranked by operating margin. A healthy operating margin is required for a company to pay for its fixed costs and generate cash.

Orient Paper (NYSE:ONP) had an operating margin of 20.8% in the last quarter on sales of $33.2 million.

[10atious]

I picked up some cheap tickets around 3.50/sold some when it hit 4.25 last week. I had to buy a very, very cheap stock last week. Glad I did it has gone up nearly 20% since I bought it. If ONP goes below 4 bucks again I will repurchase more shares. Still holding my original shares. We should see some real gains next month. These levels are crazy low! Whoo Whoo all aboard!

[loubigfish]

From 6/28 to now we are up over 36%..... so the train HAS left the station.... did you get your tickets?

[loubigfish]

Ok all you OPN fans.... this is the day for a great rise in the stock price... get on the train now... we're leaving the low road....

[lemm]

thanks 10atious for article

[10atious]

Lemm, Lou, I think you both will appreciate this article. You both know my loathing of Muddy Water's, this confirms what I believe.

Excerpts gleaned from China Daily:

But market watchers said that the Spreadtrum case has hurt the credibility of Muddy Waters and the game of shorting Chinese stocks may soon come to an end .

"Companies such as Muddy Waters won't have a long-lasting impact on US-listed Chinese companies, and we think that the turning point may soon emerge," said Huang Haizhou, chief strategist at China International Capital Corp (CICC).

WE are those that will benefit shortly!!!/
http://www.chinadaily.com.cn/usa/2011-07/08/content_12863298.htm

[lemm]

you have 100% equal 10 otious
anyone who has followed stock a little clientele knows that production will double and more!
by the end of year 2011 ONP back where it has been approximately 10 to $ 12 JMOP

[10atious]

Anyone whose been watching this stock, knows their equipment is almost up and running bringing double production to the table. Also their transparency and constent reminder they were Muddy Waters first "research" and one of the few that has not succumbed to delisting! Investors are looking for this kind of company!!! Way to go ONP...

[loubigfish]

Does anybody out there think news might be coming soon? It sure looks postive today.....and the last 4 days too

[loubigfish]

Has not really accected us at this point... we look like we are headed to our best price in 2 months... and moving forward.. the chart looks excellent.. and it's time for a major run....

[10atious]

What effect, if any, will this filing have on us tomorrow?


http://biz.yahoo.com/e/110706/onp8-k.html

[loubigfish]

oh they will very soon I am thinking.. we are on a steady increase... and it look real this time.... maybe we can push to the 200 day line resistance and break the $5.00 mark

[10atious]

Roth Captital only has a 5 dollar target price on this stock. They need to raise that target price!

[Blade$dream]

crossed last friday already the 50dma and confirming yesterday to stay above it....from now on we will go easy to $5

[loubigfish]

Yes things are starting to roll in the correct direction. Let's hope they keep on rolling and we get some needed volume.. to make this rise steady.... and long

[10atious]

Lou, nice close for ONP, haven't seen this for more than a month! Hoping to hear something from their new equipment which could push this higher. Maybe another analyst that would be good too. Up, Up and away!

[lemm]

yes we are at 4$ at last gogogogo onp
go to the noord give us are money back

[lemm]

let us hope we go over 4$ today it woud by nice
go onp go

[loubigfish]

Hey Ten.....

Here we go.... nice and easy.... up to $4.00 can you see it.. and from there we will move up and up... looking for a very profitable week

[loubigfish]

Hey Ten.....

Here we go.... nice and easy.... up to $4.00 can you see it.. and from there we will move up and up... looking for a very profitable week

[10atious]

I still don't like SmartTrend bragging that it had a downtrend on this stock. I'm with you this stock is about to explode and we will be the ones bragging how we had ONP at an uptrend weeks ago! LOL

[loubigfish]

yes and there debt ratio is excellent... we are starting to get some movement north.. so be ready...

http://www.zacks.com/research/get_news.php?id=185l3696

[10atious]

http://www.proactiveinvestors.com/companies/news/15981/sino-forest-shares-surge-40-after-us-based-fund-takes-115-stake-15981.html

Could have some impact ONP.

[loubigfish]

Hey 10..... no I didn't get any more stock.. like I wanted to because I bought another company.. and the picture is of a Silk Worm... hence I bought into that kind of company.. has good long range ideas.... it's a close up...

I think that we are going on a good run as thought... broke a resistent line and need 2 more confirmations and we off to the races...

nice to see others having interest in our stock....

[10atious]

Last year, before any new machinery and before the whole decline in the Chinese RTO's, ROTH CAPITAL had ONP at 16 bucks a share! I'm seeing some activity in other companies in this sector. I'm with you, by EOY we could see some GREAT return on this stock!!! I'm not trying to get my hopes up too much, but considering Roth thought this was 16 then, what could it be worth with double output this year!

[Blade$dream]

I hope we will be much higher from here by EOY
The production lines should be running and the charts showing us some nice things also !

Have a nice holiday 4th

[10atious]

"Bladesdream" glad to have you aboard. I believe you may have bought this stock at it's lowest level. Good for you. A lot of exciting things going on at their plant right now. By September this stock could easily double your investment.

[10atious]

"Lou", just call me "10". When did you change your profile picture? I liked Johnny Carson pic. Not sure what your new profile is a picture of. Did you pick up some more shares of ONP for 3.25. Had I had some extra cash I would've for sure. Just glad I got to pick up some around 3.50...

[Blade$dream]

bought this one on the end 3,30's....going much higher crossed the 50dma yesterday

[loubigfish]

Congrats to you also.... what is you first name?

[10atious]

Thought this was an interesting statement by Carlson Block...

"Block said that in a worst-case scenario he misread Spreadtrum’s financial statements, and the company can provide a satisfactory response to his questions. Block said his intention in publishing the Spreadtrum letter was to protect investors by improving transparency and not to push the stock down."

IF HE IS BEING SO TRANSPARENT why is he shorting this company? Doesn't want to push the stock down. Yea, Right!

I know it has nothing to do with ONP exactly. BUT JUST MAYBE it is showing everyone how devious Muddy Waters is and how he "misread the financial. He did the same with ONP...


http://www.bloomberg.com/news/2011-06-30/muddy-waters-block-says-he-s-still-betting-sino-forest-shares-to-retreat.html

[10atious]

Could be a GREEN summer. Nice start for July! Expecting SmartTrend to jump on this! Good volume, great breakout! Happy 4th my friend.

[loubigfish]

No news that I know of... but the stock need volume and maybe we're getting close to the printing line opening ....yes?
and we are a profitable company yes? These are good reasons and we should be back in the $5-6 range very soon

[10atious]

Loubigfish, I was pleasantly surprised coming back from my walk and seeing our stock near four bucks. What prompted this move?

[loubigfish]

10 atious... today might just be the start of our run... moving stedily upward...and even hit $4.00 at one point... need to close well above the 50Day moving average line and it's for real...

[loubigfish]

Someone need to step on the ask price and get this puppy moving up... volume is what we need... and once it comes the share price will rise like the wind....

[loubigfish]

yep you are correct... I think it's time to make a positive charge in the share price
Let's watch and enjoy today

[10atious]

More Muddy Waters...
Update on Speadstrum and Muddy's accusation. I believe this could ultimately affect ONP stock today.


FINALLY a company that is fighting back very publicly against Muddy Water's allegations. Great article that could finally shed light on Carlson Block's deceptions and shoddy investigation. IF this company can maintain a strong stock price (which it seems to be doing). The shorts could lose a LOT OF MONEY. They would no longer believe every word that comes out of Muddy Waters' "Research". AND IF ONP does follow through with their legal actions, Muddy Waters could be history. I am glad Muddy Water's made the SEC more accountable and investigate corrupt companies, but at what cost to good companies, like ONP?

http://www.ibtimes.com/articles/172010/20110630/spreadtrum-communications-muddy-waters-questions-raised-conference-call-income-tax-mobilepeak-acquis.htm

[loubigfish]

Today could be the start of something new.... ya think? I am hope for a fantastic rebound ... and I am here for the long train ride.

[10atious]

Hey Lou, wondered where you were. Since my last note Muddy Waters' was at it yesterday too. Trying to sabatoge Speadstrum

http://www.bloomberg.com/news/2011-06-28/muddy-waters-is-shorting-china-s-spreadtrum.html

This time no one listened to Muddy Waters. Has he blown his horn too often. Or was this a smoke screen! This had no written research, it was a comment made by Muddy Waters...

Can you tell I don't like Muddy Waters and the less creditability he gets I believe the more RTO's will rise. Keeping up my optimism! LOL

Will be glad when ROTH can check out ONP's new machinery. That should boost interest. Should be coming within the next two months...

[loubigfish]

[loubigfish]

Let's hope so.... we are due for a great increase in the share price.. Your thinking is very positive.. as it should be ... we have a profitable company and the share price need to conform to the tide.. thanks

[10atious]

Prediction:

Let me use ONP to make a prediction, if I am wrong so be it.

ONP was Muddy Water's first casualty as we all know. SNOFF has been it's latest victim and now there is a rumor Muddy Waters is "taking down" another stock...

http://www.bloomberg.com/news/2011-06-27/yurun-isn-t-aware-of-a-short-seller-s-report.html

This is my prediction. Carlson Block told Bloomberg a few months ago that he WOULD concede not all Chinese stocks are bad and would eventually write a positive report. Carlson Block is a manipulator as we know. Conspiracy:
Could Carlson Block and the CEO of YURUN be planning to squash the shorts this time. The shorts are eating up YURUN, and the CEO is buying up shares for his company. WHAT IF Muddy Waters just happens to write a positive article about YURUN! The stocks would go crazy and the shorts would (well you know).

In the end this could be great for ONP for it would prove not all these stocks are corrupt. This of course is my opinion and we should see over the next month or two what comes of it. I'm just suspicious of Carlson's "Leak"... I had to vent and had no where else to go with my conspiracy theory but here. Where it all began! Thanks...

[joev2]

I'll say one thing. Onp has definitely fought back....and STILL isn't backing down. Some of these companies needed to be exposed. I think though, the tide is going to turn and it will propel all of them. I've noticed a few are now saying they want to take their companies private. Once ONE of them succeeds, it opens the door for more options for companies like Onp. Anyway, that's my thought. As far as the lawsuit, I'm not sure Muddy Waters is that dumb. I think at least some of the stuff they said was true. It's a wake-up call for any of these companies, who think they can just reverse merge, and show no accountability afterwards.

Btw, thanks for the info.

[10atious]

Hey Joev2,

I just received this from the CFO of ONP. I wrote and told them they need to bring legal action against Muddy Waters. Here's his response:



We have one shareholder class action lawsuit, which was filed in August 2010 by 3 individual investors with a total loss of about $150,000. We filed a motion to dismiss with the court and is waiting for the judge to hear the case.



Unfortunately, because of the pending class action lawsuit, our attorneys strongly advise that we do not to consider legal action against Muddy Waters until after the class action is dismissed. We will keep the public updated with the development of the legal matters. It’d be inappropriate for me to discuss the legal strategy publicly at this time.



We feel for your pain and thank you for your continued support for Orient Paper Inc. We are still working on something to fight the abuses by Muddy Waters. We will keep the investors updated.



Regards,


Winston Yen, CPA
CFO
Orient Paper, Inc.
AMEX: ONP

[10atious]

Hey Lou, wouldn't be surprised if SmartTrend changes its downtrend to uptrend for ONP. The attention that SNOFF has given it seems to be a positive for ONP. Hope you did buy more when it dipped to 3.25! Only going up from here on out!

[10atious]

I believe the last article he mentioned ONP was in February this year. But don't quote me. I know he still believed in ONP, but he didn't like the way the CHINESE REVERSE MERGERS were going, so I think he dropped out for awhile. BUT you can bet he will be saying something soon. I know he wasn't too pleased with THE MUDDY WATER BOYS...I loved his articles! And back then it was boys now it's just Carson, hmmmmm.
I believe this company is going to do great. I hope they follow through and bring Muddy Waters to court. Otherwise around August 2nd, we will see "another research article" from Muddy Waters. I've noticed every two months they come out with a "research paper".
Have a good night and hopefully we will see 4 bucks soon. Once those new machines start cranking out ROTH said they will follow up and who knows maybe raise the target price...

[joev2]

I read that also and just listened to their 1st q conf call back in May. They seem pretty honest and upfront. I was wondering.....did Rick Pearson have the last say on this in Nov? I know there were a couple of back and forths between him and Block's people back in July and then I read something by Rick in Nov. I wonder if he still believes. I know he too has gone negative now on most of these reverse mergers.