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Stock Market & Financial Investment News

News Breaks
September 26, 2011
08:16 EDTONPOrient Paper completes re-audit of 2008 financial statements
Orient Paper announced that the company's registered independent public accounting firm, BDO Limited, has completed the re-audit of Orient Paper's 2008 financial statements that were originally audited by Davis Accounting Group. The reissued financial statements, including the report of BDO, will be filed with the Securities and Exchange Commission on September 26. Notwithstanding the $0.5M reclassification, the re-audit of FY08 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 March 29.
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August 28, 2014
06:40 EDTONPOrient Paper raises $2.5M in a registered direct offering
Orient Paper announced that it has entered into a definitive agreement with an institutional investor for a registered direct placement of $2,500,000 of shares of common stock at a price of $1.60 per share. In addition, the Company will issue to the investor warrants to purchase up to 781,250 shares of common stock. The warrants have an exercise price of $1.70 per share and are exercisable for five years following issuance. H.C. Wainwright & Co., LLC, acted as the exclusive placement agent in connection with this offering.

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