XML 43 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Common Stock
 3 Months Ended
Mar. 31, 2012
Common Stock

(10) Common Stock

 

Issuance of common stock pursuant to the 2011 Incentive Stock Plan

 

On January 12, 2012, the Company issued shares of 109,584 out of the 2011 Incentive Stock Plan of Orient Paper Inc. (the “2011 ISP”) to certain of its directors and officers when the stock was at $3.45 per share, as compensation for their services in the past years. Total fair value of the stock was calculated at $378,065 as of the date of issuance. The 2011 ISP was approved by the shareholders of the Company in August 2011 and sets aside 375,000 shares of the Company’s common stock for the purpose of compensating services provided by the employees, directors and other service providers. See Note (13), Stock Incentive Plan, for more details of the 2011 ISP.