MIRA
INFORM REPORT
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Report Date : |
10th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
FEEL
GOLF CO. INC. |
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Registered Office : |
1
Lower Ragsdale Drive Building 3, Suite 700, Monterey, California 93940,
United States |
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Country : |
United
States |
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Date of Incorporation : |
14.02.2000 |
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Legal Form : |
Corporation
- Private |
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Line of Business : |
The
Company manufactures and markets golf clubs. It specializes in the production
of High Performance Wedges, Drivers, Fairway Woods, Irons, and Putters. |
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 : FEEL GOLF CO., INC.
Address : 1 LOWER RAGSDALE DRIVE
BUILDING 3, SUITE 700
City : MONTEREY
State/Province : CALIFORNIA
Zip
Code : 93940
Country : UNITED STATES
Telephone : 831 647-3110
Facsimile : 831 647-3116
Legal
Form : Corporation -
Private
Website : www.feelwedges.com
Maj.
Shareholder : Mr. R. Lee
Miller, Ph.D.
@rating
Opinion :
Business Activity : The Company manufactures and
markets golf clubs. It specializes in
the production of High Performance Wedges, Drivers, Fairway Woods, Irons, and
Putters. It targets the sports
industry.
Founded
(D/M/Y) : /
/1986
In
KUSD As of : 31/12/2005
Sales
/ Revenue : 1,100
Net
Income :
Total
Equity :
Number
of Employees : 6
NOTE TO CLIENT
PERSON
CONTACTED:
Mr.
Randolph West, Controller.
LEGAL
Legal
Form :
Corporation - Private
Since (D/M/Y): 14/02/2000
State/Province
of Incorporation : CALIFORNIA
Status : ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
Entity
Name : FEEL GOLF CO.,
INC.
Entity
Type : Corporation
Registered
Number : C2218404
Date
Filed : 2/14/2000
Status : ACTIVE
Jurisdiction : California
Registered
Address : 1 LOWER RAGSDALE DR BLDG
3 STE 700 MONTEREY, CA 93940
Registered
Agent : LEE MILLER 25943 DEER RUN LN SALINAS, CA
93908
Managers/Key Personnel
Mr.
R. Lee Miller, Ph.D. Chief Executive Officer
Mr.
David Worrell Chief Financial Officer
Mr.
Andrew Heffner Vice
President - Sales
Mr.
Randolph West Controller
OWNERS
Mr.
R. Lee Miller, Ph.D.
% Majority
AFFILIATED ENTITIES
There
are no affiliated companies or subsidiaries.
BANKS
RABO
BANK
301
Main Street
Salinas,
CA
Telephone:
831 422-6642
Facsimile:
831 422-2692
Account
Number:
Account
Manager:
The
bank listed above is the primary bank of use for the Subject.
A
request for account information has been forwarded to the bank. However, a
signed authorization could not be obtained from management and account details
may not be available as a result.
PAYMENT HISTORY
BUSINESS DATE LAST
PAYMENT CREDIT BALANCE CUR 1-
31- 61-
CATEGORY REPTD SALE TERMS
$ $ %
30 60 90 91+ COMMENTS
---------- ----- ----- ------- -------- -------- --- --- --- ---
--- --------
AIR TRANS 06-09 06-09
0000000 13300 3700 100 0
0 0 0 CUST 6 YR
FACTOR 06-10 04-04 NET
30 0 0 0 0
0 0 0 CUST 2 YR
FREIGHT 06-09 04-12
VARIED 200 0 0 0
0 0 0
MISC MANUF 06-09 06-08 VARIED
4500 300 0
100 0 0 0
OFFC SUPPL 06-09 05-09 CREDIT
800 0 0
0 0 0 0 ACCTCLOSED
PACKAGING 06-10 00-00 NET
30 200 100 0 100 0
0 0 CUST 4 YR
UTILITY 06-10 00-00 NET
15 800 400 0 100 0
0 0
AIR TRANS 05-12 00-00 NET
30 900 0 0 0
0 0 0 CUST 7 YR
COMMUN SVC 04-03 00-00 NET 30
0 0 0
0 0 0 0
LEASING 05-01 05-01
NOTE 2700 1900 100 0 0
0 0
LEASING 06-10 00-00
CONTRCT 7300 500 100 0
0 0 0 CUST 3 YR
ADMIN 05-05 00-00
CREDIT 0 0 0 0
0 0 0 CUST 37 YR
CURRENT QUARTER
19800 4500 83
17 0 0 0
Payment Trends
INDUSTRY
BUSINESS BALANCE CUR 1-
31- 61-
DATE CUR DBT
DBT $ %
30 60 90 91+
-------- --- ---
--- -------- --- --- ---
--- ---
20061000 0 5 1 4100 94
6 0 0 0
20060900 0 5 7 3700 82
11 0 7 0
20060800 0 6 4 5200 91
4 0 5 0
20060700 0 6
3 11500 81 17 2 0
0
20060600 0 5 0 8700 97
3 0 0 0
20060500 0 5 2 9500 96
0 4 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER YEAR DBT $ % 30
60 90 91+
-------- ------
--- -------- --- --- ---
--- ---
Third 2006 4 4300 89 7
0 4 0
Second 2006 2
9900 90 8 2 0
0
First 2006 1 5200 97 1
2 0 0
Fourth 2005 12 600 72 1
27 0 0
Third 2005 0 600 97 3
0 0 0
FINANCIAL INFORMATION
FINANCIAL
FIGURES
Year-End
(D/M/Y): 31/12/2006 31/12/2005 31/12/2005
Projected Consolidated
Sales
/ Revenues 1,100 1,100 -
The
Subject reports annual sales for the fiscal year 2005 in the US $1.1 million
range. It projects that annual sales for the fiscal year 2006 will close in the
same range. The Company is operating at a loss.
HISTORY
The
Subject was established in 1986 by Mr. R. Lee Miller. It was legally
incorporated as a Michigan Corporation in 1990 and quickly developed a
worldwide reputation for crafting golf wedges.
In 1996, R. Lee Miller retired and the business ceased operations. However, due to players' demands, the
Company was re-launched in 2000 as a California Corporation.
CURRENT OPERATIONS
NAICS
Code : 33992 Sporting and Athletic Goods Manufacturing
SIC
Code : 3949
Number
of Employees: 6
Business Activity
The
Company manufactures and markets golf clubs.
It specializes in the production of High Performance Wedges, Drivers,
Fairway Woods, Irons, and Putters. It
targets the sports industry. The manufacturing of the products is done through
overseas third party manufacturers.
The
heading address is the Company headquarters and sole location and serves as an
administrative office, warehouse, assembly facility, and distribution center.
The property is a 4,800 square foot facility that is rented by the Company.
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ADDTIONAL
CONTACT NUMBERS
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877
934-7387
PUBLIC RECORD
A
search of public revealed the following:
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Name
Searched : FEEL GOLF CO
Debtors : FEEL GOLF CO., INC.
[BUSINESS]
1 LOWER RAGSDALE DR. BLDG.3, SUITE 700
MONTEREY, CA 93940
Filing
Date : 03/25/2004
Filing
Number : 0409660623
Secured
Party : PACIFICA CAPITAL
[BUSINESS]
8105 IRVINE CENTER DRIVE SUITE 500 IRVINE, CA 92618
GE CAPITAL [BUSINESS]
3000 LAKESIDE DR., STE.
200N BANNOCKBURN, IL 60015
Status : UNLAPSED
Type : FINANCING
STATEMENT
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Name
Searched : FEEL GOLF CO
Debtors : FEEL GOLF CO., INC.
[BUSINESS]
ONE LOWER RAGSDALE BLDG. 3 STE. 700
MONTEREY, CA 93940
Filing
Date : 05/17/2004
Filing
Number : 0414660529
Secured
Party : THE OLGUIN COMPANY
[BUSINESS]
662 NINTH AVE., STE. 100 SAN DIEGO, CA 92101
Status : UNLAPSED
Type : JUDGMENT LIEN
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Name
Searched : FEEL GOLF CO
Debtors : FEEL GOLF CO., INC.,
A CALIFORNIA CORPORATION [BUSINESS]
1 LOWER RAGSDALE, BLDG. 3, STE. 700
MONTEREY, CA 93940
Filing
Date : 05/08/2006
Filing
Number : 067069263362
Secured
Party : MILLER, R. LEE
[PERSONAL]
25943 DEER RUN LANE
SALINAS, CA 93908
Status : UNLAPSED
Type : FINANCING
STATEMENT
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No
additional filings, or any bankruptcy petitions, or tax liens were found
against the firm at this time.
GENERAL COMMENTS
Feel
Golf Co., Inc., incorporated in 2000 in the state of California, engages in the
assembly and distribution of golf equipment.
A payment record appears in great condition. A search of public records failed to reveal any negative
information against the Company. The
Company is considered well-established and appears 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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