MIRA
INFORM REPORT
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Report Date : |
9th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
PROMPTEX
YARNS INC |
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Registered Office : |
30 Jenkins Ave Dorval,
Quebec H9p
2r1, Canada |
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Country : |
Canada |
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Date of Incorporation : |
1983 |
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Legal Form : |
Federally
Chartered Corp. - Private |
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Line of Business : |
Importers
and wholesalers of yarns |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow
by 90 days |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company
Name: PROMPTEX YARNS INC.
Address: 30
JENKINS AVE
City: DORVAL
State/Province: QUEBEC
Zip
Code: H9P 2R1
Sales
/ Revenue:
Country: CANADA
Net
Income:
Telephone: 514-636-9928
Total
Equity:
Facsimile: 514-636-9214
Number
of Employees: 17
Founded
(D/M/Y): / /1983
As
of:
Legal
Form: Federally Chartered Corp. - Private
Website: N/A
@rating
Opinion:
Business
Activity:
The
Company is an importer and wholesaler of yarns.
NOTE TO CLIENT
Please
note that the Subject is located at the heading address, and not in Montreal, the
city listed in the ordered address.
Person
Contacted: Ms. Beverly Mulvaney,
Controller. Ms. Mulvaney verified and
updated the information presented to her.
LEGAL
Legal
Form: Federally Chartered Corp. - Private
Since
(D/M/Y): 13/06/1983
State/Province
of Incorporation: Canada
Status:
ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
The
Company federally Chartered in Canada under the following registration:
Corporation
#1515080
BN
# Corporation Name(s): PROMPTEX YARNS INC./FILS PROMPTEX INC.
Old
Name(s) and Change Date(s)
124464
CANADA INC. - 1983/09/23
Mailing
Address: [Latest address on file]
Care
of: BORDEN LADNER GERVAIS
Street:
1000 DE LA GAUCHETIERE ST WEST SUITE 900
City:
MONTREAL
Province:
Quebec
Postal
Code: H3B5H4
Country:
Canada
Registered
Office Address: [Latest address on file]
Care
of:
Street:
30 JENKINS AVENUE
City:
MONTRÉAL
Province:
Quebec
Postal
Code: H9P2R1
Country:
Canada
Reg.
Off. Eff: 2003/05/01
Status Date
Active 1986/03/06
Dissolution
in Progress 1986/02/17
Dissolution
in Progress 1985/10/05
Date
of Incorporation: 6/13/1983
----------------------------------------------------------------------
The
Company provincially qualified in Quebec under the following registration:
File
Number: 1142140731
Legal
Name: FILS PROMPTEX INC. (French Version)
Incorporation
Date: 6/13/1983
Last
Annual Report: 11/19/2005
Location:
Canada
Address:
30, AVENUE JENKINS
DORVAL
(QUÉBEC) H9P 2R1
Registered
Agent: BORDEN LADNER GERVAIS S.R.L.
Registered
Agent Address: 1000, RUE DE LA GAUCHETIÈRE O BUR 900
MONTRÉAL
QC H3B 5H4
Managers/Key Personnel
Mr.
Talvinder Soor President
Ms.
Beverly Mulvaney Controller
Parent Companies
Parent
Company: JONSOOR HOLDINGS INC.
30 AVENUE JENKINS
Montreal PQ H9P 2R1
CANADA
The
Company has no subsidiaries or affiliates.
BANKS
Toronto
Dominion Bank
PQ
Telephone:
Facsimile:
Account
Number:
Account
Manager:
Ms.
Mulvaney declined to provide a signed authorization for credit information.
PAYMENT HISTORY
------------------------------------------------------------------------------
Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing $ 1st
2nd 3rd
------------------------------------------------------------------------------
Transportation Serv:
*May 0
1,015 1,015 1,015
0 0 0
Trucking:
*May 0
24,652 24,652 14,769
5,251 0 4,632
DICOM EXPRESS INC.: 514-636-8033
*Apr 0
18 18 18
0 0 0
------- ------- ------- ------- -------
-------
P.I. =
25 90 Days 25,685
25,685 15,802 5,251
0 4,632
Reported ------- ------- ------- ------- ------- -------
Arrg Transp of Freig:
*Feb 0 173K
173K 158K 14,295
485 0
Transportation Serv:
*Jul 0
730 730 730
0 0 0
------- ------- ------- ------- -------
-------
P.I. =
5 Total 199K 199K 175K 19,546
485 4,632
Reported ------- ------- ------- ------- ------- -------
PAYMENT TRENDS
------------------------------------------------------------------------------
Payment
C.I. Number of Total
Current Overdue
Quarters Index Score Suppliers
Owing $ 1st 2nd 3rd
------------------------------------------------------------------------------
1 Qtr/2006 6 16 2
195,656 173,094 17,445
485 4,632
4 Qtr/2005 22 9 4 173,333 121,481
13,787 11,992 26,073
3 Qtr/2005 10 5 4
35,585 25,744 9,690 0 151
2 Qtr/2005 17 5 4
34,921 20,760 12,079
945 1,137
1 Qtr/2005 22 14 1
39,133 17,563 17,876
3,418 276
4 Qtr/2004 NA 10 0 0 0 0 0 0
3 Qtr/2004 33 19 1 17 0 17 0 0
2 Qtr/2004 33 21 1 17 0 17 0 0
1 Qtr/2004 33 15 1 17 0 17 0 0
FINANCIAL INFORMATION
Ms.
Mulvaney declined to provide any financial statement information for the
Company, citing company policy.
CURRENT OPERATIONS
NAICS
Code: 421 Wholesale Trade, Durable Goods
Number
of Employees: 17
Business
Activity:
The
Company is an importer and wholesaler of yarns.
The
Subject imports yarns from around the world and exports to the United States.
The
heading address is the sole location for the Subject. The facility consists of 80,000 square feet of owned office
space.
PUBLIC RECORD
A
search of public revealed no derogatory information, Uniform Commercial Codes,
or bankruptcy petitions.
GENERAL COMMENTS
The
Subject, founded in 1983 in Canada, is engaged as an importer and wholesaler of
yarns. The payment record shows some
significant 90-day payment slowness, however, the operating history is clear. No derogatory information or bankruptcy petitions
were reported or noted. The Company is
responsible for normal business transactions.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base
with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong) capability
for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |