MIRA
INFORM REPORT
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Report Date : |
11th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
SIERRA
DIAMONDS LIMITED |
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Registered Office : |
6 East 45th Street Suite 1001 New York, 10017 United
States |
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Country : |
United
States |
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Financials (as on) : |
31/03/2006 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Manufactures
of jewelry and silverware |
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 : |
Regular
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company Name: SIERRA
DIAMONDS LIMITED
Address: 6
EAST 45TH STREET SUITE 1001
City: NEW
YORK
State/Province: NEW
YORK
Zip Code: 10017
Country: UNITED
STATES
Telephone: 212-599-4330
Facsimile: 212-599-4335
Legal Form: Limited
Company
Website: N/A
Maj. Shareholder: Mr.
Ashish Shah
@rating Opinion:
Founded (D/M/Y): / /2004
In KUSD As of: 31/03/2006
Sales / Revenue: 18,000,000
Net Income: 12,966
Total Equity: 2,000,000
Number of Employees: 8
Business Activity:
The Company is a manufacturer and
wholesaler of jewelry. The Company
specifically caters to diamond jewelry.
NOTE TO CLIENT
Person Contacted: Ms. Rima
Prajabadi, Controller. Ms. Prajabadi
verified and updated the information presented to her.
LEGAL
Legal Form: Limited Company
Since (D/M/Y): 21/12/2004
State/Province of
Incorporation: DE
Status: ACTIVE
Previous Legal Form:
Company is NOT required to
publish an annual financial report.
The Company registered in
Delaware under the following registration:
File Number: 3900538
Incorporation Date / Formation
Date: 12/21/2004
Entity Name: SIERRA DIAMONDS
LIMITED
Entity Kind: CORPORATION
Entity Type: GENERAL
Residency: DOMESTIC
State: DE
REGISTERED AGENT INFORMATION
Name: No registered agent on
record.
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The Company qualified in New York
under the following registration:
Current Entity Name : SIERRA DIAMONDS LIMITED
Initial DOS Filing Date : DECEMBER 27, 2004
County : DELAWARE
Jurisdiction : DELAWARE
Entity Type : FOREIGN BUSINESS
CORPORATION
Current Entity Status : ACTIVE
Selected Entity Address
Information
DOS Process (Address to which DOS
will mail process if accepted on
behalf of the entity)
SIERRA DIAMONDS LIMITED
6 EAST 45TH STREET
NEW YORK, NEW YORK, 10017
Registered Agent: NONE
Managers/Key Personnel
Mr. Ashish Shah President & Chief Executive Officer
Ms. Rima Prajabadi Controller
OWNERS
Mr. Ashish Shah 100.00% Majority
AFFILIATED ENTITIES
The Company is affiliated with
Diamond Cutters & Distributors Inc.
through common ownership and location.
The Company has no subsidiaries.
BANKS
Antwerp Diamond Bank
New York NY
Telephone: 212-333-4869
Facsimile:
Account Number:
Account Manager: Mr. Glenn
Schwartz
Account Opened: Over Three Years
Line of Credit: Low 7 Figures
Utilized: 90% (on average)
No Returned Checks
PAYMENT HISTORY
BUSINESS DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY REPTD SALE TERMS $
$ % 30 60
90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
BUS SERVCS 06-08 00-00 VARIED 100
100 100 0 0
0 0
BUS SERVCS 06-06 06-06 NET 30 0
0 0 0
0 0 0
OFFC SUPPL 06-05 06-04 NET 30 300
200 100 0 0
0 0 CUST 6 YR
LEASING 06-07 00-00 CONTRCT 1700
1700 100 0 0
0 0
LEASING 05-01 05-01 NOTE
3400 3400 100 0
0 0 0
CURRENT QUARTER 400 300 100 0
0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE CUR 1- 31- 61-
DATE CUR DBT DBT $ % 30
60 90 91+
-------- --- --- --- -------- --- --- --- --- ---
20060800 0 6 0 200 100 0
0 0 0
20060700 0 6 0 200 100 0 0
0 0
20060600 0 5 0 200 100 0 0
0 0
20060500 0 5 0 100 100 0 0
0 0
20060400 0 4
0 100 100 0
0 0 0
20060300 0 5 0 100 100 0 0
0 0
Payment History - Quarterly Averages
BALANCE
CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2006 0 200 100 0 0 0
0
First
2006 0 100 100 0 0 0
0
Fourth
2005 0 100 100 0 0 0
0
Third
2005 11 200 27 73 0
0 0
Second
2005 0 200 100 0 0 0
0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/03/2006
31/03/2006 31/03/2006
Consolidated
Sales / Revenues 18,000,000 - -
RESULTS
Net Income 12,966 -
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ASSETS
Total Assets 9,000,000 - -
LIABILITIES
Total Liabilities 7,000,000 - -
EQUITY
Total Equity 2,000,000 -
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FINANCIAL ANALYSIS
Actual Previous Percentage of total assets
31/03/2006 31/03/2006
31/03/2006 31/03/2006
Total Assets 9,000,000 0
100.00 100.00
Total Liabilities 7,000,000 0
77.78 77.78
Total Equity 2,000,000 0 22.22 22.22
Ms. Prajabadi provided the above
financial figures in actual US Dollars.
Please note that all figures except the net income are approximated
numbers.
HISTORY
The Company was founded in
December, 2004 by the owner Mr. Ashish Shah.
CURRENT OPERATIONS
NAICS Code: 33991
Jewelry and Silverware Manufacturing
NAICS Code: 42194
Jewelry, Watch, Precious Stone and Precious Metal
Number of Employees: 8
Business Activity:
The Company is a manufacturer and
wholesaler of jewelry. The Company
specifically caters to diamond jewelry.
The Company imports exclusively
from India.
The heading address is the sole
location for the company. The Facility
consists of 2,500 square feet of leased office and manufacturing space.
PUBLIC RECORD
A search of public revealed no
derogatory information, bankruptcy petitions, or Uniform Commercial Codes.
GENERAL COMMENTS
Sierra Diamonds Limited, founded
in New York in 2004, is engaged as a manufacturer and wholesaler of diamond
jewelry. The payment record is
generally satisfactory and the operating history is clear. No derogatory information was 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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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