Business Context and Reporting Period
This Form 8-K Current Report is filed by Carlateral, Inc. (noted as IT Tech Packaging, Inc. in metadata) for the reporting period ending November 30, 2007. The filing primarily addresses a complete restructuring of the Board of Directors following a recent change in control and merger transaction.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance changes and share ownership structures resulting from a merger.
Material Changes Versus Prior Period
- Board Resignation: Hui Ping Cheng resigned as the sole member of the Board of Directors effective November 30, 2007.
- Board Election: Four new directors were appointed effective November 30, 2007: Zhenyong Liu (Chairman, Director, CEO), Xiaodong Liu (Director), Fuzeng Liu (Director), and Chen Li (Director).
- Ownership Structure: Following a merger with Dongfang Zhiye Holding Limited (DZHL) and a prior acquisition by Max Time Enterprise Limited, the new directors (Zhenyong Liu, Xiaodong Liu, and Chen Li) collectively hold 17,553,371 shares, representing 43.8% of the company's outstanding stock.
Guidance, Outlook, and Management Commentary
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. It details the professional backgrounds of the new directors, noting their extensive experience with Hebei Baoding Orient Paper Milling Company Limited, the Chinese operating subsidiary acquired in the merger. No risks, contingencies, or unusual items are disclosed in this specific report.
Important Facts for Investor Verification
- Verify the operational status and financial health of Hebei Baoding Orient Paper Milling Company Limited, the primary operating subsidiary now controlled by the new board.
- Confirm the total outstanding share count to validate the 43.8% ownership stake held by the new directors.
- Review the prior Form 8-K filed on November 2, 2007, for full details on the Merger Transaction with DZHL.
- Check for any subsequent filings regarding the relationship between Max Time Enterprise Limited (holding 68% of shares) and the new board members.