MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
JMD, INC. |
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Registered Office : |
280 Sheffield Street, Mountainside, New Jersey - 07092 |
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Country : |
United States |
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Date of Incorporation : |
1995 |
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Line of Business : |
Wholesaler of loose diamonds and fine 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 : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: JMD, INC.
Trade Name(s): MAGNIFICENT INC.
Address: 280 SHEFFIELD STREET
City: MOUNTAINSIDE
State/Province: NEW JERSEY
Zip Code: 07092
Country: UNITED STATES
Telephone: 908 518-7621
Facsimile: 908 518-7623
Founded (D/M/Y): /
/1995
As of: 31/12/2006
Sales / Revenue: 1,000,000
Net Income:
Total Equity:
Legal Form:
Website: N/A
Business Activity: JMD
Inc., is a wholesaler of loose diamonds and fine jewelry.
NOTE TO CLIENT
Contact Person: Mr. Janak Desai
Position: Proprietor
Mr. Janak Desai responded to most general information, and only few
financial figures over the telephone interview.
Special Note: Regarding the request for a report on MAGNIFICIENT INC.
Please be advised that the correct legal name for this firm is JMD INC.
DBA:MAGNIFICIENT INC.
LEGAL
Legal Form:
Previous Legal Form:
Company is NOT required to publish an annual financial report.
Mr. Janak Desai stated that JMD was incorporated in New Jersey in 1995. The
New Jersey Secretary of State's Office located a registration under the name
J.M.D. INC., however Mr. Desai stated that this registration was not his
company. A search was also performed in New Jersey under the name Magnificent,
Inc which yielded no results. At this time, it is uncertain if the Firm is
incorporated in New Jersey or whether the firm is actually incorporated under
another name. In view of this information, we believe the Firm is operating as
a sole proprietorship.
Managers/Key Personnel
Mr. Janak Desai
Owner
AFFILIATED ENTITIES
There is no affiliated or related companies to JMD Inc.
BANKS
Wachovia
Richmond VA
Telephone: 804 281-7120
Facsimile: 704 427-2477
Account Number:
Account Manager:
The above bank requires and account number and a signed authorization
which could not be obtained from management.
PAYMENT HISTORY
There is no payment history for the Subject.
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y):
31/12/2006 31/12/2006 31/12/2006
Consolidated
Sales / Revenues
1,000,000 - -
Mr. Janak Desai reported annual sales for fiscal year end December 31,2006
to be US$1 million range and projected sales for fiscal year end December 31,
2007 to be US$850 to $900 range.
CURRENT OPERATIONS
NAICS Code: 42 Wholesale Trade
Business Activity:
JMD Inc., is a wholesaler of loose diamonds and fine jewelry. The products include necklaces, bracelets,
earrings, rings and other related products. Sales are to jewelry manufacturers
and retailers.
The above address is the only known location for the Company.
PUBLIC RECORD
A nationwide search of legal litigations and bankruptcy courts revealed
no bankruptcy petitions under the Subject's name.
GENERAL COMMENTS
JMD Inc. DBA: Magnificent Inc established in 1995 engaged as a wholesale
jeweler. There is no payment history for
the Company, and there are no litigations reported against the Subject. In addition, a nationwide search of public
files and bankruptcy courts revealed no under the Subject's name.
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%)