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Subsequent Event | 12 Months Ended
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Dec. 31, 2013
Subsequent Events [Abstract] |
Subsequent Event | (24) Subsequent Event On March 3, 2014, Orient Paper entered into a Revolving Line of Credit Agreement with Shanghai Pudong Development Bank (“SPD Bank”) for a total credit facility in the amount of approximately $3.3 million. Pursuant to the credit facility, the Company may draw six-month bank acceptance notes for up to approximately $3.3 million for making supplier payments. The facility has a term for the period of March 3, 2014 through January 12, 2015 and is collateralized by certain land use rights provided by Hebei Fangsheng Real Estate Development Co. Ltd., a related party controlled by our Chairman and CEO Mr. Zhenyong Liu. On March 21, 2014 the provincial branch of the Industrial & Commercial Bank of China (“ICBC”) approved a new maximum total banking credit facility for Orient Paper HB for approximately $24.5 million in the year of 2014. We had already had various working capital loans for a total of $6.5 million from ICBC as of December 31, 2013, which means that we may be able to draw additional financing under the maximum ICBC facility for up to $18 million.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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