Golden Cross
2 years ago
ITP Announces Effectiveness of Reverse Stock Split
July 07 2022 - 05:00PM
BAODING, China, July 7, 2022 /PRNewswire/ -- IT Tech Packaging, Inc. (NYSE American: ITP) ("IT Tech Packaging" or the "Company"), a leading manufacturer and distributor of diversified paper products in North China, announced today that, its 1-for-10 reverse stock split (the "Reverse Stock Split"), which the Company previously disclosed was approved by the Board of Directors on June 27, 2022 is effective as of 5:00PM EST today on July 7, 2022 (the "Effective Date"), and will be reflected in the marketplace at market open on July 8, 2022.
The Reverse Stock Split, under applicable Nevada law (Nevada Revised Statutes ("NRS") Section 78.207), proportionately adjusted both the Company's (a) authorized shares of common stock; and (b) issued and outstanding shares of common stock. The Reverse Stock Split was effected by the Company filing a Certificate of Change (the "Certificate") pursuant to NRS Section 78.209 with the Secretary of State of the State of Nevada on the Effective Date. As a result of the filing of the Certificate, the number of shares of the Company's authorized common stock was reduced from 500,000,000 shares to 50,000,000 shares and the issued and outstanding number of shares of the Company's common stock was correspondingly decreased.
On the Effective Date, the total number of shares of common stock held by each stockholder of the Company will be converted automatically into the number of shares of common stock equal to (i) the number of issued and outstanding shares of Common Stock held by each such stockholder immediately prior to the Reverse Stock Split, divided by (ii) 10, with such resulting number of shares rounded up to the nearest whole share. No fractional shares will be issued in connection with the Reverse Stock Split and no cash or other consideration will be paid in connection with any fractional shares that would otherwise have resulted from the Reverse Stock Split.
Stockholders who are holding their shares in electronic form at brokerage firms do not need to take any action, as the effect of the Reverse Stock Split will automatically be reflected in their brokerage accounts. Stockholders holding paper certificates may (but are not required to) send the certificates to the Company's transfer agent and registrar, Empire Stock Transfer. Empire Stock Transfer, at the address set forth below, will issue a new stock certificate reflecting the Reverse Stock Split to each requesting stockholder.
Empire Stock Transfer
1859 Whitney Mesa Dr,
Henderson, NV 89014
About IT Tech Packaging, Inc.
Founded in 1996, IT Tech Packaging, Inc. is a leading manufacturer and distributor of diversified paper products and single-use face masks in North China. Using recycled paper as its primary raw material (with the exception of its tissue paper products), ITP produces and distributes three categories of paper products: corrugating medium paper, offset printing paper and tissue paper products. With production based in Baoding and Xingtai in North China's Hebei Province, ITP is located strategically close to the Beijing and Tianjin region, home to a growing base of industrial and manufacturing activities and one of the largest markets for paper products consumption in the country. ITP has been listed on the NYSE American since December 2009. For more information, please visit: http://www.itpackaging.cn/.
HIM
5 years ago
Ameritrade ,denied my sister to purchase ITP online, they are making her contact the broker, which is strange, since I was able to buy ITP shares on my Ameritrade plate form, a few weeks ago...
What is going on...
Now today in less that 32K shares moved up 10%.. Does that mean there is no shares,to be traded by certain broker.
HIM
5 years ago
ITP premarket hitting $1 from yesterday close @0.65 because of today news, that they will start manufacturing face mask in the rate of 100,000 masks per day..
This low floater touched 1.2 a few weeks ago..
NEWS:
IT Tech Packaging, Inc. Plans a Production Line to Produce Face Masks.
https://finance.yahoo.com/news/tech-packaging-inc-plans-production-120000480.html
BAODING, China, April 15, 2020 /PRNewswire/ -- IT Tech Packaging, Inc. (NYSE MKT: ITP) ("IT Tech Packaging" or "the Company"), a leading manufacturer and distributor of diversified paper products in North China, today announced that it is in the process of launching a production line to produce face masks. Once completed, the Company will be able to produce approximately 100,000 face masks per day. The face masks will be distributed by various channels to public and healthcare workers battling the spread of COVID-19. The Company has received some orders from several customers. The Company expects to begin producing masks in the week of April 20, 2020.
Mr. Zhenyong Liu, the CEO and Chairman of the Company commented, "The demands for protective gear continue to increase due to COVID-19. Notwithstanding China's having made significant progress in limiting the spread of the virus, individuals have to continue taking necessary health and safety measures, as required by the healthcare authorities in China. Given the situation, we expect a large quantity of face masks will be needed for the public and for workers in different industries for an extended period of time. We hope our face masks will help our customers follow government guidance on health and safety measures during the Covid-19 pandemic. I am grateful for our teammates' quickly preparing the launch of the production line and we are closely following public health guidance and guideline for sanitation to start production of the face masks."
About IT Tech Packaging, Inc.
Founded in 1996, IT Tech Packaging, Inc. is a leading manufacturer and distributor of diversified paper products in North China. Using recycled paper as its primary raw material (with the exception of its tissue paper products), ITP produces and distributes three categories of paper products: corrugating medium paper, offset printing paper and tissue paper products. With production based in Baoding and Xingtai in North China's Hebei Province, ITP is located strategically close to the Beijing and Tianjin region, home to a growing base of industrial and manufacturing activities and one of the largest markets for paper products consumption in the country. ITP has been listed on the NYSE MKT since December 2009.
Safe Harbor Statements
This press release may contain forward-looking statements. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company's public filings with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K. All information provided in this press release speaks as of the date hereof. Except as otherwise required by law, the Company undertakes no obligation to update or revise its forward-looking statements.
For more information, please contact:
At the Company Email:
ir@itpackaging.cn
Tel: +86 0312 8698215
Investor Relations:
Janice Wang
EverGreen Consulting Inc.
Email: ir@changqingconsulting.com
HIM
5 years ago
.....ITP @0.68 , just mentioned in Benzinga Pro'S top 5 stocks to be watched today..WOW..
Nice Exposure...
April 9, 2020 07:59 AM ET (BZ Newswire) -- Pre-Market Outlook
Today's 5 Stock Ideas:
Starbucks (SBUX) - A dividend play. The company said Wednesday, while taking other capital reduction measures, it does not expect to cut its dividend.
Microchip Technology (MCHP) - A play on strength in semiconductors.
El Pollo Loco (LOCO) - A play on fast food/casual restaurants which have remained open through the coronavirus crisis. The company Wednesday reported Q1 (for quarter ended Mar. 25, 2020) same-store sales were down 1.5% on year-over-year basis.
EPR Properties (EPR) - AMC Entertainment (AMC) is the company's biggest tenant. A play on the currently-embattled theater/movie space.
IT Tech Packaging (ITP) - A penny stock for a China-based paper products company, IT Tech reported Tuesday its tissue paper production lines were running at full capacity.
Copyright © 2020 Benzinga (BZ Newswire, http://www.benzinga.com/licensing). Benzinga does not provide investmentadvice. All rights reserved. Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga Pro (http://pro.benzinga.com).
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
stocktrademan
7 years ago
ONP buy 1.2800
pennant breakout
Orient Paper, Inc.
Science Park
Juli Road
Baoding 072550
China
86 31 2869 8215
http://www.orientpaperinc.com/
Orient Paper Inc.(NYSE MKT: ONP)("Orient Paper" or "the Company") is a leading paper manufacturer in North China. Using recycled paper as its primary raw material, Orient Paper produces and distributes three categories of paper products: packaging paper(corrugating medium paper), offset printing paper, and other paper products, which include digital photo paper as well as tissue paper, a part of the Company’s current business expansion plans.
The Company, through its wholly-owned subsidiary, Shengde Holdings, Inc., controls and operates Baoding Shengde Paper Co., Ltd. ("Orient Paper Shengde"), and Hebei Baoding Orient Paper Milling Co., Ltd ("Orient Paper HB"). Orient Paper HB is located in Baoding City, Hebei Province, at the center of the triangular region formed by Beijing, Tianjin and Shijiazhuang (60 miles to Beijing and Tianjin, respectively). The Beijing-Tianjin region is the cultural capital of China and home to a growing base of industrial and manufacturing activities, and is one of the largest markets for paper products consumption in China.
Orient Paper HB was initially established in 1996 as a packaging paper manufacturer. Today, Orient Paper HB serves over 100 packaging and printing companies and paper products distributors with a diverse product offering, including corrugating medium paper, high-grade offset printing paper and medium-grade offset printing paper. Orient Paper HB enjoys close proximity to the greater Beijing area, a major paper consumption market in northern China. With its eco-friendly paper manufacturing process, Orient Paper HB has become one of the most rapidly growing paper manufacturers in Northern China.
Established in June 2009, Orient Paper Shengde is Orient Paper's wholly-owned subsidiary in China. The Company acquired two digital photo paper coating lines and commenced production and sales of digital photo paper in March 2010.
Orient Paper Inc. is a public company listed on the NYSE MKT with the ticker symbol "ONP".
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