ewr

Orient Paper: Why Boring Stocks Beat Hot IPOs

good question - it is very easy to misread information on-line.
With great trepidation I have tried to recreate the path from where I found this info.

if you go to opai.ob under yahoo finance and check the cash flow statement, quarterly data, I see a change in cash of (721), meaning a decrease in cash, which I have called "negative".

re net working capital: in order for net working capital to be positive, current assets must be greater than total liabilities.
i.e. current asset - total liabilities = net working capital
This is a rather conservative approach but provides the margin of safety that B. Graham was suggesting. Again, same source as above, balance sheet, quarterly data, 30-june -09 column.

the real problem I have with this investment is that it seems too late. I am exploring ways of buying chinese small caps otc. before they have some huge run up.

On Sep 30 04:25 PM WhiteTiger wrote:

> Hello,
> Please explain. You mention that "cash flow per the MRQ cash flow
> statement is negative."
>
> I see a positive cashflow figure of $5.08 million.
>
> I also see your point regarding OPAI cash position, but don't necessarily
> agree with your assessment of insolvency. There current assets are
> still more than current liabilities.
>
> Here is a statement right out of the 10Q:
>
> "We had net working capital of $5,387,582 at June 30, 2009, an increase
> of $6,553,377 over a net working capital deficit of ($1,165,795)
> at December 31, 2008"
>
> Can you please provide me with your net-working calculation formula?
> Perhaps you are reading an old filing?
>
> Thanks.
> On Sep 30 07:36 AM ewr wrote: