MIRA
INFORM REPORT
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Report Date : |
17.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
JEWEL
SOURCE, INC. |
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Registered Office : |
45
West 45th Street 11th Floor, New York 10036 |
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Country : |
United
States |
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Date of Incorporation : |
1997 |
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Legal Form : |
Corporation
– Private |
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Line of Business : |
Jewellery
and precious stone wholesaler. |
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
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Company Name |
JEWEL
SOURCE, INC. |
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Address |
45
WEST 45TH STREET 11TH FLOOR |
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City |
NEW
YORK |
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State/Province |
NEW YORK |
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Zip Code |
10036 |
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Country |
UNITED
STATES |
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Telephone |
212
391-0312 |
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Facsimile |
212-391-0313 |
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Legal Form |
Corporation
– Private |
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Founded (D/M/Y) |
/ /1997 |
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In KUSD As of |
31/12/2005 |
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Sales / Revenue |
35,000 |
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Net Income |
- |
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Total Equity |
- |
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Number of Employees |
10 |
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Website |
www.jewelsourceinc.com |
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Maj. Shareholder |
Mr.
Sarju Shah |
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Business Activity |
The
Company is a jewellery and precious stone wholesaler. |
NOTE TO CLIENT
Person
Contacted; Mr. Sarju Shah,
President. Mr. Shah verified and
updated the information presented to him.
Mr. Shah
said that his company is currently growing and he plans to hire more employees
in the near future.
LEGAL
Legal
Form: Corporation - Private
Since
(D/M/Y): 24/09/1997
State/Province
of Incorporation: NY
Status:
ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
The
Company is incorporated in the State of New York:
Current
Entity Name: JEWEL SOURCE, INC.
Initial
DOS Filing Date: SEPTEMBER 24, 1997
County:
NEW YORK
Jurisdiction:
NEW YORK
Entity
Type: DOMESTIC 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)
JEWEL
SOURCE, INC.
15 WEST
47TH ST
STE 404
NEW
YORK, NEW YORK, 10036
Principal
Executive Office:
JEWEL
SOURCE, INC.
15 WEST
47TH ST
STE 404
NEW
YORK, NEW YORK, 10036
Registered
Agent: NONE
Managers/Key
Personnel
Mr.
Sarju Shah
President
OWNERS
Mr.
Sarju Shah
100.00% Majority
The
Company has no subsidiaries or affiliates.
BANKS
Bank of
America
New York
NY
Telephone:
803 765-4882
Facsimile:
415-343-9301
Account
Number:
Account
Manager:
Mr. Shah
declined to provide an account number which is required by the above bank.
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 9000
9000 100 0 0
0 0 CUST 9 YR
BUS SERVCS 06-10 00-00 VARIED 200
100 100 0 0
0 0
PACKAGING
06-10 00-00 NET 30 500 500
100 0 0 0
0
AIR TRANS
05-12 00-00 NET 30 0 0 0 0 0
0 0 CUST 1 YR
CURRENT QUARTER 9200
9100 100 0 0
0 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE
CUR DBT DBT $ % 30
60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20061000
0 5 0 9000 100 0
0 0 0
20060900
0 5 0 4300 100
0 0
0 0
20060800
0 6 0 1900 100
0 0
0 0
20060700
0 6 0 6400 100
0 0
0 0
20060600
0 5 3 8700 88 10
1 0 1
20060500
0 5 2 8600 89 10
0 1 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30
60 90 91+
-------- ------ ---
-------- --- --- --- --- ---
Third
2006 0 5100 100 0 0 0
0
Second
2006 1 7900 93 7 0
0 0
First
2006 0 0 0 0 0
0 0
Fourth
2005 0 0 0 0 0
0 0
Third
2005 0 0 0 0 0
0 0
FINANCIAL INFORMATION
FINANCIAL
FIGURES
Year-End (D/M/Y): 31/12/2005
31/12/2005 31/12/2005
Consolidated
Sales / Revenues 35,000 - -
Mr. Shah
declined to provide financial statement information for this report, citing
company policy. He did provide a net
sales approximation of US$35 Million.
CURRENT OPERATIONS
NAICS
Code: 42194 Jewellery, Watch, Precious Stone and Precious Metal
SIC
Code: 5094
Number
of Employees: 10
Business
Activity:
The
Company is a jewellery and precious stone wholesaler.
The
Subject imports primarily from India and China.
The
heading address is the sole location for the Subject. The facility consists of leased office space.
PUBLIC RECORD
A search
of public revealed the following information, action against the Company and no
bankruptcy petitions. We cannot
determine the current status of the action against the Company.
Name
Searched: JEWEL SOURCE INC
Debtor
Address: JEWEL SOURCE, INC.
45 WEST
45TH STREET, 11TH FLOOR
NEW
YORK, NY 10036
Secured
Parties: FLEET NATIONAL BANK FLEET PRECIOUS METALS INC.
Filing
Date: 11/20/2003
Filing
Number: 0311201876984
Filing
Type: INITIAL FILING
--------------------------------------------------------------------------------
Name
Searched: JEWEL SOURCE INC
Defendant
Counsel: UNKNOWN
Defendant:
JEWEL SOURCE INC
Plaintiff
Counsel: HEIMAN LAW GROUP
350
FIFTH AVENUE
NEW
YORK, N.Y. 10118
212-244-4111
Plaintiff:
URI SCHWARTZ & SONS DIAMONDS
--------------------------------------------------------------------------------
Name
Searched: JEWEL SOURCE INC
Debtors:
JEWEL SOURCE, INC.
45 WEST
45TH STREET, 11TH FLOOR
NEW
YORK, NY 10036
Filing
Date: 06/03/2004
Filing
Number: 2004000343855
Filing
Type: INITIAL UCC1
Secured
Party: FLEET NATIONAL BANK
111
WESTMINSTER STREET
PROVIDENCE,
RI 02903
FLEET
PRECIOUS METALS INC.
111
WESTMINSTER STREET
PROVIDENCE,
RI 02903
GENERAL COMMENTS
The
Subject, founded in New York in 1997, is engaged as a jewellery wholesaler. The
payment record was generally satisfactory and the operating history is
clear. One action was found against the
Company, however, no 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 |
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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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