IT Tech Packaging Inc (ITP)

[Blade$dream]

I bought yesterday...good move IMO.
Let's C what next week will bring during the CC...

[10atious]

Hey Lou, two great days. This is great. Hopefully investors will see how this stock has been oversold. Hoping that ROTH will raise their target price and their HOLD to BUY!

[10atious]

Hey Lou, Not a bad day. I expect some pull back from those wanting to make a few cents! If they would hold they could make more. This stock has been so beaten down it is time for us to reap the benefits!

[10atious]

Hey Lou, Agreed this is great news and the analyst should raise the target price also...

[loubigfish]

Sounds like excellent news... so with this and a buyback of stock by the CEO... we should be moving on up to a level that we have seen and enjoyed in the past....

[10atious]

There are a few hints that ONP could go up shortly. I'm just waiting for the CEO to repurchase his 400,000 dollars worth of stocks soon. He said in September within 90 days he would purchase them. A few reports indicate this is an undervalued stock and the CEO knows it. We will have to wait and see what their quarter brings and especially what their outlook can provides next month. Roth has to raise their target price above 5 bucks and change their rating from HOLD to BUY! Then we will see some serious movement. Investors are looking for some win/win stocks and I can't think of a better one than ONP. Production will come close to doubling next quarter, with their new equipment in place!
IMO, of course!

[10atious]

Good news "joev2", like you said this could put to bed all those shorting this company! We will see some movement in the next few weeks, with their new equipment on line next month and the CEO buying up shares. Maybe we will even get another analyst following this company! WooHoo...I just wish I had more to invest at this time!

[joev2]

2008 Audit came up pretty clean. Let's see what other negative stuff our friends can come up with. With this out of the way and the ceo buying up to $400,000 worth of stock (already bought 50k shares), hopefully the stock will show more value.

BAODING, Hebei, China, Sept. 26, 2011 /PRNewswire-Asia/ -- Orient Paper, Inc. (AMEX:ONP - News) ("Orient Paper" or the "Company"), a leading manufacturer and distributor of diversified paper products in northern China, today announced that the Company's registered independent public accounting firm, BDO Limited ("BDO"), a Hong Kong member of BDO International Ltd., has completed the re-audit of Orient Paper's 2008 financial statements that were originally audited by Davis Accounting Group P.C.. The reissued financial statements, including the report of BDO, will be filed with the Securities and Exchange Commission on September 26, 2011.

As previously announced, the Company learned earlier in 2011 that the licenses of Davis Accounting Group P.C. and its principal Mr. Edwin Reese Davis Jr. (collectively, "Davis") had lapsed on September 30, 2008. During the time when Davis was retained by the Company, the Company had no knowledge that Davis's license in Utah had lapsed, and Davis represented that it was in good standing. Since Davis's license had lapsed at the time it issued its opinion regarding the Company's financial results for the fiscal year ended December 31, 2008, those results are not considered to be audited. Accordingly, the Company engaged BDO for the re-audit of its financial statements for the fiscal year ended December 31, 2008. The re-audit of FY 2008 financial results resulted in the following adjustments:

Changes were made to the cash flow statement to incorporate the correct method for translating cash flow activities and calculate the effect of currency exchange rate changes on cash and cash equivalents. Such change does not affect the Company's cash balances at the end of FY 2008.
A FY 2008 stock compensation expense of $0.5 million was reclassified from an item of other comprehensive income to general and administrative expenses.
As a result of the change in recognition of the $0.5 million stock compensation expense and a recalculation of weighted average number of shares, the basic and diluted earnings per share for the twelve months ended December 31, 2008 declined by 4.9%, from $0.81 per share to $0.77. The Company believes such change in FY 2008 earnings per share is immaterial.


Notwithstanding the $0.5 million reclassification, the re-audit of FY 2008 does not change the total comprehensive income for that year. None of the changes as a result of the 2008 re-audit affects the audited financial statements of FY 2009, which were audited by BDO and filed with the Securities and Exchange Commission on Form 10-K on March 29, 2010.

Orient Paper will file the Form 10-K/A for the fiscal year ended December 31, 2009 on September 26, 2011.

About Orient Paper, Inc.

Orient Paper, Inc., through its wholly owned subsidiary, Shengde Holdings, Inc., controls and operates Baoding Shengde Paper Co., Ltd. ("Baoding Shengde"), and Hebei Baoding Orient Paper Milling Co., Ltd ("HBOP"). Founded in 1996, HBOP is engaged in the production and distribution of products such as corrugating medium paper, offset printing paper, and other paper and packaging-related products in China. The Company uses recycled paper as its primary raw material. Baoding Shengde, founded in June 2009 located in Baoding, is engaged in the production and distribution of digital photo paper. As one of the largest paper producers in Hebei Province, China, HBOP is strategically located in Baoding, a city in close proximity to Beijing where the majority of publishing houses are based. Orient Paper is led by an experienced management team committed to diversifying the Company's product offering and delivering tailored services to its customers. For more information, please visit http://www.orientpaperinc.com.

http://finance.yahoo.com/news/Orient-Paper-Announces-prnews-666733326.html?x=0&.v=1

[10atious]

Some nice volume today also. With the global market so sluggish, its nice to see signs of life in ONP. And we know this is just the beginning. When confidence returns to this sector this stock will rock and the CEO knows it.

[joev2]

The ceo seems to understand the market and the games played. I wouldn't be surprised to see him take this or threaten to take this private if the manipulation continues. CSR just did and Hrbn is in the process.

[10atious]

joev2, this is FANTASTIC NEWS. We will start seeing some movement over the next few months for sure. Lots of presents for my grandkids! Time to purchase some more!

[joev2]

Good news!

Orient Paper Announces Chairman's Share Purchase Plan

Press Release Source: Orient Paper, Inc. On Monday September 19, 2011, 8:00 am EDT

BAODING, China, Sept. 19, 2011 /PRNewswire-Asia/ -- Orient Paper, Inc. (AMEX:ONP - News) ("Orient Paper" or the "Company"), a leading manufacturer and distributor of diversified paper products in northern China, today announced that the Company's Chairman and Chief Executive Officer, Mr. Zhenyong Liu, intends to purchase up to $400,000 worth of the Company's common shares in open-market transactions during the next three months.

Mr. Liu commented, "I believe that Orient Paper's shares are significantly undervalued and represent a sound investment opportunity given recent trading prices. I strongly believe in the fundamentals of the Company's business and its future growth prospects. Therefore, I intend to purchase shares of our Company's common stock, which demonstrates my confidence in Orient Paper and reflects my commitment to increasing shareholder value."

The share purchases will be made in a manner consistent with Orient Paper's stock-trading policy and relevant securities laws.

http://finance.yahoo.com/news/Orient-Paper-Announces-prnews-2754539486.html?x=0&.v=1

[10atious]

Carson Block's last two "short papers" have proven wrong. So I doubt anyone will listen to him in the near future. He destroyed Sino-Forest and maybe he was right on that one, but SPRD is higher because of the focus Muddy Water's played and his statement that "he misread the financials". His latest hit is on SVM, which seems to be avoiding the same pitfall that ONP and SNOFF have suffered.
Thanks for your article it was insightful...

[joev2]

I continually find this one very interesting and have been investing at these prices. Two comments concerning Carson Block and Muddy Waters caught my attention. One was this article:

http://www.economist.com/node/18929130/comments

And the other was a blogger inside the article which was written some time ago:

http://seekingalpha.com/instablog/697144-megisto387/84833-muddy-waters-requires-a-leap-of-faith-they-dont-deserve

As a side note, Onp appears to be easily manipulated with its low o/s. The stock is down 36% in two months and 13% in two days. Meanwhile the co. is chugging along. Volume is basically low, which tells me that negative news is NOT the reason the stock is crashing.

[10atious]

Hey Lemm, problem is I have other investments that I also believe will double or even triple by Christmas. So can't sell anything to buy up more shares of ONP.

[lemm]

why jou do not buy 10atious ?
we now the stock will go up, 100% by end of jear moi
GLTO

[10atious]

I would be buying here too, Lemm. This was way oversold, someone is manipulating this stock! They want to buy very low, because they know this is headed much higher before the end of the year!

[lemm]

you are totally right this is a good company loubigfish
i buy yesterday 1000 pieces at 2.8 end off the day
this for average down
got now 6100 pieces and will buy more on dips

GLTO go go go ONP

[loubigfish]

Hey 10 ... this is very disappointing and I just can not believe this crap... this is a very profitable company... and they have increased revenue and are adding new capital expenditures and yet we still have this drag on the stock price... this must be a alien abduction..... so I am still extremely positive on the company and it's goals... just taking longer than expected....but the payoff will still be awesome..

[10atious]

If you were disappointed before. Wow. I was expecting this week to be good for ONP. After all they were at Rodman/Renshaw, that should've bolstered business. Unless MM's are keeping the PPS low, to buy it up, knowing it will rise quickly over the next few weeks! I mean really this company will be getting double income when that machinery goes on line full-time next month!

[10atious]

fcpgalltheway, are you stalking me? LOL
I've believed in this stock before it was an IPO, then along came Muddy Water's who wrote a lot of lies about the company last June (Carson Blocks' first attempt at shorting companies). It has been more than transparent and guess what? They give up to date PR's and next week the CEO will be in NYC and talk with investors one on one! Unlike that other company we belong too. LOL again!

[fcpgalltheway]

Hey 10atious, look at the chart and see when all the pumping took place--yes around mid-end of December, early January.

I hope it all works well for you at this low price around $3 and get lucky enough to see a big rebounce on the anniversary month when this December pops in!

http://ih.advfn.com/p.php?pid=charts&symbol=ONP&period=8

[10atious]

The only thing that has kept this stock down are shorts who still believes Muddy Water's lies about the company. With SINO-FOREST still getting attention it keeps bringing ONP to the center stage as a corrupt company. The only thing is Carson Block was wrong about Spreadtrum (SPRD) and is wrong about Orient Paper (ONP).
Once we can get rid of the shorts in this sector we will finally see some great momentum. Could be really soon. GO ONP

[loubigfish]

I agree yet I am disappointed at the slide in the stock price these last two months ... so let ride this coming wave..

[10atious]

I'm also looking forward to next week...
http://finance.yahoo.com/news/Orient-Paper-Inc-to-Present-prnews-3782886099.html?x=0&.v=1

This visibility at this time is perfect timing IMO...
Woohoo way to go ONP...

[loubigfish]

You are so correct... so now we watch... I would love to see that volume get about 100,000... that could be the start of our profits

[10atious]

http://finance.yahoo.com/news/Orient-Paper-Announces-prnews-887275603.html?x=0&.v=1

Hey my friend of course I am paying attention. This is the news we've been waiting for.!

[loubigfish]

Good News once again... and once that power supply is up and running then the great news will be that we'll have more revenue coming in and increased profits.... yes we always made $$$ ... now we'l make more.... Is anyone paying attention??

[10atious]

Orient Paper, Inc. to Present at Upcoming Rodman & Renshaw Annual Global Investment Conference in New York City. Maybe Rodman&Renshaw will pick up Orient Paper as an analyst! WooHoo that would be great. Roth Capital has not been good to Orient Paper and this visibility could be great for ONP!

[loubigfish]

well 10atious... I hope your correct... cause this is not something I was hoping for.... the chart was ripe to move north... yet it didn't happen... so now we sit and wait.... not my best quality.... but that is interesting to have a Sunday meeting??? I wonder.... new line opening?? or something else..? let's hope it good...

[10atious]

Hey Lou,
Get ready for some action next week. Orient Paper, Inc. to Hold 2011 Annual Meeting of Stockholders in Beijing.

http://www.prnewswire.com/news-releases/orient-paper-inc-to-hold-2011-annual-meeting-of-stockholders-in-beijing-128173108.html

Could have some positive results on Monday's shares. Who holds a stockholders meeting on Sunday!

We will be so happy with our stock soon!

[10atious]

I can't believe Roth Capital still holds a Neutral rating and a 5 dollar target price for ONP. We need another analyst for this stock...

[lemm]

yes , there are still some people who believe in this Stock
GLTO so ONP go

[10atious]

I believe ONP would've gone even higher today, if the global market was not in such CHAOS AND FEAR. But you are right by September this stock will blossom and grow expotentially.

[lemm]

at last this is a good company look at news rapport in september it will go to the moon GLTA go ONP go

[10atious]

Revenue and net income increases 8.6% and 9.5% year-over-year, respectively. Digital photo paper revenue jumped 97% year-over-year.


http://finance.yahoo.com/news/Orient-Paper-Inc-Announces-prnews-1077285105.html?x=0&.v=1


Conference call tomorrow at nine a.m. this could pump our stock higher especially if we have another good global market day.

[10atious]

I thought we were tanking because of the market. Little did I know that the shorts were at it again with ONP. But this time the CEO is responding quickly!

http://finance.yahoo.com/news/Orient-Paper-Submits-Letter-prnews-2124824558.html?x=0&.v=1

Glad they are on top of the negativity. Wish they had been as quick to respond to Muddy Waters. Oh, well at least they learned.

[10atious]

I can see 5 bucks also after their conference call. BUT only if Roth Capital raises their target price. They may hold off until they actually see the equipment working, which will still bring it near the end of the month...WooHoo way to go ONP...

[loubigfish]

Well 10atious....I am looking for over $5 sometime within the next 2 weeks.... so let's watch this puppy rise.... and having a profitable 10Q is always a good thing

[10atious]

The stock market is going to go high today on this news. The private sector added 114,000 jobs in July. ONP will be reaping the benefits today. They were heading higher yesterday when the market tanked and pulled ONP with it. Looking for 4 bucks! LOL

[10atious]

http://www.smallcapnetwork.com/BEST-ONP-and-SNOFF-The-Good-the-Bad-and-the-Ugly-of-Chinese-Reverse-Merger-Stocks-DEER-EVK-QKLS/s/via/3414/article/view/p/mid/1/id/120/


Excerpt:

Orient Paper (AMEX: ONP) Has Been Hit by Fraud Accusations… But Remains Standing…

Orient Paper is a producer and distributor of various types of paper products in China. Orient Paper will report audited results on August 9, 2011 but last Thursday the company announced unaudited results that showed that 2Q2011 revenue increased 8.6% from $38.3 million to $41.5 million while unaudited net income rose 9.5% from $5.4 million to $5.9 million. On Friday, Orient Paper briefly spiked from $3.88 to $4.04 before drifting lower while on Monday, shares fell 1.83% to $3.76 (ONP has a 52 week trading range of $3.18 to $8.09 a share). However, investors should note that Orient Paper has been hit with fraud accusations but thus far, no smoking gun has been found to prove them. Since ONP has not collapsed like other Chinese small caps hit with such accusations, it appears that investors are betting against the short sellers and the accusers – who are probably one in the same.


If today hadn't been such a dismal global sell off we would be above 4 bucks. IMO

[10atious]

I agree Lemm, if this had been a normal day we would've seen a much higher price going forward. I figure Roth Capital will wait until after the conference call to raise their target price on ONP, maybe to 8 bucks a share. Who knows, we may just get another analyst on board after the 10th of August. There will be many banks looking for good stocks to invest in and ONP has definitely been transparent!

[lemm]

load the boot these are very good in price
buy at 3.82 for 1000 piece
GLTO go go ONP start up the new line and go with the productie to the noord

[loubigfish]

Hey 10,

You are so right ... great news.. I noticed it last night and I thought of us.. being right where we want to be right now....and I see the share price starting to rise.. as well as the volume..
Have a great day watching our tree bare fruit....

[10atious]

Good morning Lou, well did you see the quarter results. This is good news for us. The machines will be up and running next month and in production mode in September. Great news, I also like the revised estimate and I believe those are probably very conservative figures given ONP's brush with "cooking the books" according to Muddy Waters. LOL

[10atious]

bUrRpPPP, thanks for the information. Couldn't pick up your link, but found the same information on Yahoo.

http://finance.yahoo.com/news/Orient-Paper-Announces-prnews-1051650345.html?x=0&.v=1

This is good news for those of us who have patiently waited. Also good to see them put this news out early. Too bad the world market is so sensitive right now. But solid profits are what the "big boys" will be looking at when the market returns to normal...Expect big things from now till the end of the year.

[bUrRpPPP!]

Orient Paper sees Q2 revs of $~$41.5 mln vs. $38.0 mln consensus

Read more: http://www.briefing.com/InPlayEq/InPlay/LiveHeadlines.htm#ixzz1TRKX42TS

[10atious]

Yeah, me too. Wish I had bought at the 3.75 low today, but didn't know if it would go to 3.50, where I bought it last time. August will definitely be a break away month.

[loubigfish]

Well Mr 10.. I am thinking that this is a way to shake out the weak shareholders and then we are getting ready for the run up....it will all be player out in time.. Looking forward to a very profitable August

[10atious]

Hey Lou, what happened to our stock today? Personally, I think it has something to do with Manhattan's judge giving validity to the law suit against ONP. Well, it is a good place to pick up some more shares. Glad I sold some at 4.25. This could be a great buying opportunity. I'll be watching closely.