IT Tech Packaging Inc (ITP)

[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