MIRA
INFORM REPORT
|
Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SIERRA
DIAMONDS LIMITED |
|
|
|
|
Registered Office : |
6 East 45th Street Suite 1001, New York, 10017 |
|
|
|
|
Country : |
United
States |
|
|
|
|
Financials (as on) : |
31/03/2006 |
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
Legal Form : |
Limited
Company |
|
|
|
|
Line of Business : |
Manufactures
of jewelry and silverware |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
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.
----------------------------------------------------------------------
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 -
-
ASSETS
Total Assets
9,000,000 - -
LIABILITIES
Total Liabilities
7,000,000 - -
EQUITY
Total Equity
2,000,000 - -
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)