Replies to post #222 on IT Tech Packaging Inc (ITP)

[The Rainmaker]

Are you at all concerned about the 5,000,000 Restricted shares of OPAI that are about to become free trading this week?

Those 5 million restricted shares issued in May 2008 to Consultants who helped OPAI do their reverse merger. The services were valued at $500,000 and they were issued 5 million restricted shares. Values the consultants shares at 10 cents per share. Those 5 million shares free up at the latest this week under Rule 144 for former shells like OPAI.. Trading where it is now that would net those consultants over $2,000,000 by selling their shares.

Since OPAI only trades around 100,000 shares per day that could take months to eat through that many shares.
-----------------------------------------------------------------
Supplemental Disclosure of Cash Flow Information:

In May 2008, the Company issued 5,000,000 shares of common stock to three consultants for services rendered during the year ending December 31, 2008, valued at $500,000.

Consulting Agreements

On January 1, 2008, Orient Paper entered into three separate written Consulting Agreements with third-party individuals to provide consulting services during the year of 2008. These Consulting Agreements could be terminated at any time by the parties with or without cause, effective upon a written 30-day notice. However, termination by Orient Paper did not waive the obligation of Orient Paper to pay the consultants. Consulting services under the agreements principally commenced January 1, 2008, and consisted of various accounting, legal, and regulatory matters. The consultants further agreed that compensation, which amounted to at least $500,000 in aggregate under the Consulting Agreements, could be paid by the Company by issuing restricted shares of common stock under the terms mutually agreed upon by both parties at a future date. For the year ended December 31, 2008, $500,000 of consulting expense was recorded for services rendered by the three consultants with the issuance of 5,000,000 shares of common stock of the Company.

I checked to see if OPAI was a former shell company which it was.

http://www.sec.gov/Archives/edgar/data/1358190/000109230607000436/car10qsb.txt

Indicate by check mark whether the registrant is a shell company (as defined in
rule 12b-2 of the Exchange Act). Yes [X]

Former shells the Rule 144 lock up restriction period is 12 months. Shares issued in May 2008 would become free trading May 2009.