MIRA
INFORM REPORT
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Report Date : |
07.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
GENUINE GEMS
CORPORATION |
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Registered Office : |
521 5th Avenue,
Suite 2130, New York - 10175 |
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Country : |
United States |
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Date of Incorporation : |
04/01/1982 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Design and
manufacturing of gold and platinum jewelry. |
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: GENUINE
GEMS CORPORATION
Address: 521
5TH AVENUE, SUITE 2130
City: NEW YORK
State/Province: NEW
YORK
Zip Code: 10175
Country: UNITED
STATES
Telephone: 212
575-8727
Facsimile: 212
338-0130
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of
Employees: 12
Legal Form: Corporation
- Private
Website: No
Website
Business Activity: The Company is engaged in the design
and manufacturing of gold and platinum jewelry.
NOTE TO CLIENT
Person Contacted:
Mr. Ramesh Jain, CEO & President.
Mr. Jain provided
general information for this report.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 04/01/1982
State/Province of
Incorporation: New York
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
Current Entity Name:
GENUINE GEMS CORPORATION
Initial DOS Filing
Date: JANUARY 04, 1982
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)
GENUINE GEMS
CORPORATION
521 FIFTH AVE SUITE
2130
NEW YORK, NEW YORK,
10175-2190
Chairman or Chief Executive Officer
RAMESH C JAIN
521 5TH AVE SUITE
2130
NEW YORK, NEW YORK,
10175-2190
Principal Executive Office
GENUINE GEMS
CORPORATION
521 5TH AVE SUITE
2130
NEW YORK, NEW YORK,
10175-2190
Registered Agent
NONE
NOTE: New York State
does not issue organizational identification numbers.
Managers/Key
Personnel
Mr. Ramesh Jain President & CEO
AFFILIATED ENTITIES
Management stated
there are no affiliated companies.
BANKS
Valley National Bank
NY
Telephone:
Facsimile:
Account Number:
Account Manager:
Per policy the above
bank does not disclose accounts information.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
06-11 00-00 NET 30 0 0 0 0 0
0 0 CUST 1 YR
OFFC SUPPL 07-01 00-03 CREDIT 3000
0 0 0
0 0 0
BUS SERVCS 05-06 00-00 VARIED 100
100 0 0
0 100 0
GENERAL
05-02 02-09 NET 30 0 0 0 0 0
0 0 CUST 4 YR
LEASING
05-10 00-00 CONTRCT 1900
0 0 0
0 0 0
PACKAGING
05-05 00-00 NET 30 100 100
10 90 0 0 0 CUST
7 YR
CURRENT QUARTER 3000
0 0 0
0 0 0
FINANCIAL INFORMATION
Management would not
disclose any financial information when contacted citing company policy.
Outside sources
could not provide insight into the financial condition of this firm.
CURRENT OPERATIONS
NAICS Code: 339911
Jewelry (except Costume) Manufacturing
SIC Code: 3911
Number of
Employees: 12
Business Activity:
The Company is
engaged in the design and manufacturing of gold and platinum jewelry.
The Company also
distributes loose gem stones. Sales are to high-end retail jewelers throughout
the United States.
The heading address
is the Subject's sole location, property is leased.
PUBLIC RECORD
There were no filings
found against the Company.
We found the
following Uniform Commercial Codes filed with the New York Secretary of State's
office:
Name Searched:
GENUINE GEMS CORPORATION
Debtor Address:
GENUINE GEMS CORPORATION
580 FIFTH AVENUE
NEW YORK, NY 10036
Secured Parties:
STATE BANK OF INDIA
Filing Date:
7/11/2002
Filing Number:
02160358
Filing Type: INITIAL
FILING
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Name Searched:
GENUINE GEMS CORPORATION
Debtor Address:
GENUINE GEMS CORPORATION
580 5TH AVENUE, #531
NEW YORK, NY 10036
Secured Parties:
SIEGELSON'S DIAMONDS, INC.
Filing Date:
12/16/2003
Filing Number:
0312165598234
Filing Type: INITIAL
FILING
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Name Searched:
GENUINE GEMS CORPORATION
Debtor Address:
GENUINE GEMS CORPORATION
131 W. 35TH STREET, 11TH
FLOOR
NEW YORK, NY
10001-2111
Secured Parties:
MILISTAR (N.Y.) INC.
Filing Date:
5/9/2006
Filing Number:
0605098181090
Filing Type: INITIAL
FILING
A search of
bankruptcy courts revealed no record of a Company by this name filing for
bankruptcy.
GENERAL COMMENTS
GENUINE GEMS
CORPORATION is engaged in the design and manufacturing of gold and platinum
jewelry. The Subject's payment history is limited. Management provided
operating details, but declined to provide financial information. We know the Company
to be of good legal standing and are considered 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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)