XML 52 R29.htm IDEA: XBRL DOCUMENT v3.6.0.2
Subsequent Event
12 Months Ended
Dec. 31, 2016
Subsequent Event [Abstract]  
Subsequent Event

(23) Subsequent Event 

 

On December 5, 2016, the Company entered into a working capital loan agreement with Bank of Cangzhou, for a credit line of up to $5,766,181 (RMB40,000,000). The loan bears a fixed interest rate of 6.09% per annum. The working capital loan was secured by the Company’s land use right and guaranteed by Orient Paper Shengde with its production equipment as collateral for the benefit of the bank. The loan was withdrawn on January 3, 2017