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Orient Paper, Inc. Message Board

  • rcch12342003 rcch12342003 Jul 5, 2010 8:47 AM Flag

    that much we know about onp vs Muddy

    Muddy went to visit the factory for a due diligence for a Research firm in L.A. for pay. The deal was never realized for reasons unknown. According to Muddy, the deal was never realized because of his negative view of the company. However, Muddy also admitted that they formed a negative view of the company before they even set foot in the company. Four people with different agenda visited the same factory at the same time, formed completely different opinios; "you always believe what you want to believe". Muddy also admitted that the allegation of ONP inflating their financial statement of 2008 by 27 times was wrong because he compared the financial statements filed to Chinese Government of HONP with that of ONP sent to SEC. We will not know whether the allegations of Muddy is accurate until the audit of 2010 is finished. Being a very reputable accounting firm, BDO will undoubtly make extra effort to confirm the figures presented to them this year.It will take 6-8 months for the next audit report to come out. Stay tune.

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ONP
1.75-0.04(-2.23%)Aug 29 4:00 PMEDT

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