Lucide Ledger

A filing-first public record from Lucide House.

Issue 001 | U.S. Pilot | US

ITP

IT TECH PACKAGING, INC.

Screen state: Needs Review Source state: Stale Filing 10-Q | 2025-11-13 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 74.8%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
35,764,365USD
Total Liabilities
23,648,656USD
NCAV
12,115,709USD
Cash
8,072,936USD
NCAV per share
0.71USD/share
Evidence
10 annual | 25 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Not captured in this issue’s Mary run.

This archived issue is not backfilled with observations from a later screening run.

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Share Count & Per-Share Comparability

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis

Verified split events: reverse 4.0 on 2007-10-29; reverse 10.0 on 2022-06-09; reverse 100.0 on 2022-06-09; reverse 10.0 on 2023-09-30

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Medium | Filing

Some rows are based on older filing data and require manual freshness review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2024-12-31
10-K
USD
2023-12-31
10-K
USD
2022-12-31
10-K
USD
2021-12-31
10-K
USD
2020-12-31
10-K
USD
2019-12-31
10-K
USD
2018-12-31
10-K
USD
2017-12-31
10-K
USD
2016-12-31
10-K
USD
2015-12-31
10-K
USD
Revenue 75,837,943 86,546,950 100,352,434 160,881,720 100,943,269 117,614,886 86,746,758 117,023,578 134,744,600 135,303,173
Operating Income -8,210,719 -9,575,888 -5,304,527 1,459,369 -5,455,804 3,897,799 -11,182,314 4,680,267 12,951,719 18,196,770
Net Income -9,843,094 -9,946,035 -16,571,308 905,535 -5,554,002 2,221,182 -10,545,684 1,659,788 7,312,976 11,542,205
Cash From Operations 6,299,469 12,871,086 10,719,388 -2,436,071 16,143,526 7,530,474 9,790,613 18,151,788 15,277,522 21,204,585
Capex -329,611 -22,292,870 -4,534,092 -25,071,372 -21,106,210 -6,416,481 -2,198,852 -9,380,702 -11,586,214 -19,331,000
Free Cash Flow 5,969,858 -9,421,784 6,185,296 -27,507,443 -4,962,684 1,113,993 7,591,761 8,771,086 3,691,308 1,873,585
Cash And Equivalents 6,950,576 4,391,921 9,524,868 11,201,612 4,142,437 5,837,745 12,117,425 2,895,790 2,332,646 2,641,917
Accounts Receivable 287,576 575,526 n/a n/a n/a n/a n/a n/a n/a n/a
Inventory 2,351,876 3,555,235 2,872,622 5,844,895 1,233,801 1,607,463 2,923,516 8,474,165 5,632,030 9,205,420
Total Current Assets 28,461,303 28,357,901 47,166,475 55,516,149 14,909,605 24,041,239 24,158,872 19,986,797 14,477,322 26,343,993
Total Assets 177,546,786 194,743,649 204,447,233 241,535,202 199,874,474 190,198,430 203,076,010 218,989,481 208,377,618 238,626,919
Total Current Liabilities 20,146,767 21,418,934 17,640,629 20,434,352 18,340,074 16,835,460 29,634,267 21,757,533 20,585,591 40,237,947
Total Liabilities 21,496,469 26,406,786 23,123,341 25,785,294 24,794,300 24,203,368 36,526,095 33,664,117 35,622,232 62,817,494
Shareholders Equity 156,050,317 168,336,863 181,323,892 215,749,908 175,080,174 165,995,062 166,549,915 185,325,364 172,755,386 175,809,425
Shares Outstanding 10,065,920 10,065,920 1,006,592 9,905 11,362 2,205 2,202 2,145 2,145 2,145
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 10,065,920 10,065,920 997,279 913,344 2,650 2,203 2,162 2,145 2,142 2,032
Weighted Avg Shares Basic 10,065,920 10,065,920 997,279 913,344 2,650 2,203 2,162 2,145 2,142 2,032
Net Share Count Change (Normalized) 0.0% 0.0% -11.8% 0.0% Insufficient evidence 1.9% -6.7% 0.0% 5.6% Insufficient evidence
Ownership Claim Change (Normalized) 0.0% 0.0% 13.4% 0.0% Insufficient evidence -1.9% 7.1% 0.0% -5.3% Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric
2025-09-30
10-Q
USD
2025-06-30
10-Q
USD
2025-03-31
10-Q
USD
2024-12-31
10-K
USD
2024-12-31
10-K
USD
2024-09-30
10-Q
USD
2024-06-30
10-Q
USD
2024-03-31
10-Q
USD
2023-12-31
10-K
USD
2023-12-31
10-K
USD
2023-09-30
10-Q
USD
2023-06-30
10-Q
USD
2023-03-31
10-Q
USD
2022-12-31
10-K
USD
2022-12-31
10-K
USD
2022-09-30
10-Q
USD
2022-06-30
10-Q
USD
2022-03-31
10-Q
USD
2021-12-31
10-K
USD
2021-12-31
10-K
USD
2021-09-30
10-Q
USD
2021-06-30
10-Q
USD
2021-03-31
10-Q
USD
2020-12-31
10-K
USD
2020-12-31
10-K
USD
Revenue 25,601,344 24,794,641 10,897,266 17,642,814 17,642,814 25,081,500 26,249,788 6,863,841 20,964,599 20,964,599 15,771,560 30,019,914 19,790,877 21,372,718 21,372,718 31,709,214 31,788,884 15,481,618 45,049,707 45,049,707 45,087,671 46,534,915 24,209,427 32,479,694 32,479,694
Operating Income -992,632 -1,763,030 -3,377,235 -3,792,680 -3,792,680 -1,464,121 547,752 -3,501,670 -3,800,331 -3,800,331 -2,484,513 -518,683 -2,772,361 -521,777 -521,777 -588,712 -1,237,605 -2,956,433 2,009,829 1,950,303 -198,029 431,408 -724,313 -1,967,110 -1,967,110
Net Income -1,448,247 -1,951,826 -3,503,785 -4,044,865 -4,044,865 -1,973,946 -77,747 -3,746,536 -3,984,009 -3,984,009 -1,975,368 -1,253,493 -2,733,165 -11,907,863 -11,907,863 -1,887,318 -287,913 -2,488,214 7,404,591 4,155,063 1,542,576 -453,248 -4,338,856 -1,616,710 -1,616,710
Cash From Operations 1,499,763 1,363,665 -2,474,978 3,468,358 3,468,358 1,484,774 721,917 624,420 5,376,972 5,376,972 1,747,395 936,791 4,809,928 3,290,219 3,290,219 3,479,387 -461,636 4,411,418 4,006,506 4,006,506 9,127,786 -7,290,031 -8,280,332 13,774,039 13,774,039
Capex -81 -21,532 -8,364 -14,459 -14,459 -252,512 -53,613 -9,027 -13,081,159 -13,081,159 -3,645,998 -5,270,695 -295,018 -2,852,113 -2,852,113 -1,000,339 -313,136 -368,504 -12,290,258 -12,290,258 -12,609,573 -126,942 -44,599 -17,961,949 -17,961,949
Free Cash Flow 1,499,682 1,342,133 -2,483,342 3,453,899 3,453,899 1,232,262 668,304 615,393 -7,704,187 -7,704,187 -1,898,603 -4,333,904 4,514,910 438,106 438,106 2,479,048 -774,772 4,042,914 -8,283,752 -8,283,752 -3,481,787 -7,416,973 -8,324,931 -4,187,910 -4,187,910
Cash And Equivalents 9,119,707 7,509,355 5,070,360 n/a n/a 4,892,914 6,043,922 5,417,560 n/a n/a 9,437,941 11,980,759 16,750,940 n/a n/a 16,017,403 14,344,077 15,358,443 n/a n/a 26,575,582 30,273,543 n/a n/a n/a
Total Current Assets 35,764,365 32,644,518 29,499,038 28,461,303 28,461,303 32,974,897 33,430,278 30,014,832 28,357,901 28,357,901 41,061,071 47,689,586 51,482,371 47,166,475 47,166,475 48,429,802 48,445,588 48,615,789 55,516,149 55,516,149 62,251,911 63,740,797 61,140,488 14,909,605 14,909,605
Total Liabilities 23,648,656 22,844,991 22,427,150 21,496,469 21,496,469 25,694,194 27,907,415 28,307,396 26,406,786 26,406,786 19,053,172 25,966,594 25,756,146 23,123,341 23,123,341 24,260,841 23,086,221 24,823,656 25,785,294 25,785,294 28,710,712 31,376,953 37,007,034 24,794,300 24,794,300
Shares Outstanding 16,965,420 16,965,420 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 1,006,592 1,006,592 10,065,920 1,006,592 1,141,592 991,592 9,905 99,049,900 9,905 9,905 9,905 9,905 28,535,816 11,362
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 13,617,133 11,905,787 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 1,006,592 1,006,592 9,972,788 9,972,788 9,991,744 991,592 991,592 9,133,440 10,175 5,420 4,664 3,616 n/a 3,361
Weighted Avg Shares Basic 13,617,133 11,905,787 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 10,065,920 1,006,592 1,006,592 9,972,788 9,972,788 9,991,744 991,592 991,592 59,849,082 10,175 5,420 4,664 3,616 26,498,298 3,361
Net Share Count Change (Normalized) 0.0% Insufficient evidence 0.0% 0.0% 0.0% 0.0% Insufficient evidence 0.0% 0.0% 0.0% Insufficient evidence 0.0% 0.9% -11.8% -11.8% Insufficient evidence 99900.0% 65.5% 0.0% 0.0% 0.0% 247.1% Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) 0.0% Insufficient evidence 0.0% 0.0% 0.0% 0.0% Insufficient evidence 0.0% 0.0% 0.0% Insufficient evidence 0.0% -0.9% 13.4% 13.4% Insufficient evidence -99.9% -39.6% 0.0% 0.0% 0.0% -71.2% Insufficient evidence Insufficient evidence Insufficient evidence
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 35,764,365USD us-gaap:AssetsCurrent 2025-09-30 1.00 Data Vault | sec/companyfacts/cik=0001358190/companyfacts.json
Data Vault | sec/companyfacts/cik=0001358190/companyfacts.json
Total Liabilities 23,648,656USD us-gaap:Liabilities 2025-09-30 1.00 Data Vault | sec/companyfacts/cik=0001358190/companyfacts.json
Data Vault | sec/companyfacts/cik=0001358190/companyfacts.json
Cash 9,119,707USD us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents 2025-09-30 1.00 n/a
Shares Outstanding 16,965,420 us-gaap:CommonStockSharesOutstanding 2025-09-30 1.00 Data Vault | sec/companyfacts/cik=0001358190/companyfacts.json
Data Vault | sec/companyfacts/cik=0001358190/companyfacts.json
NCAV 12,115,709USD derived 2025-09-30 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 0.71USD derived 2025-09-30 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 74.8% derived 2025-09-30 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
n/a
CIK
0001358190
Company ID
n/a
Selected Annual Source
n/a
Selected Quarterly Source
n/a
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
26
Imported At
2026-08-15T12:52:17+00:00
Rendered At
2026-08-16T03:29:38+00:00

Run Audit

Mary Run
7597e71d9e0c42a48d3fa1ce89682485
Mary As Of
2026-07-11
Accession
0001213900-25-110001
CIK
0001358190
Mary Filing Date
2025-11-13
Filing Currency
USD
Internal Discount
74.8%
Source State
Stale Filing
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=7597e71d9e0c42a48d3fa1ce89682485; mary_as_of=2026-07-11; mary_filing_date=2025-11-13; mary_accession=0001213900-25-110001; mary_cik=0001358190; gnni_supporting_filing_date=2025-11-13; internal_discount=0.747949; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.; source requires review

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