MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHINE DIAM INC. |
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Registered Office : |
12 East 46th
Street, New York - 10036 |
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Country : |
United States |
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Date of Incorporation : |
26/01/2001 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Wholesaler of
diamonds. |
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 : |
Satisfactory |
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Litigation : |
Exist |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: SHINE
DIAM INC.
Address: 12
EAST 46TH STREET
City: NEW YORK
State/Province: NEW
YORK
Zip Code: 10036
Country: UNITED
STATES
Telephone: 212
840-8588
Facsimile: 212
840-9505
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
12
Legal Form: Corporation
- Private
Website: No Website
Maj.
Shareholder: Mr. Bijal Shah
Business Activity: The Firm is a wholesaler of diamonds.
NOTE TO CLIENT
Person Contacted:
Mr. Bijal Shah, President.
Mr. Shah only
provided general information, therefore the details in this report could not be
confirmed.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 26/01/2001
State/Province of
Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT required
to publish an annual financial report.
The Firm is
incorporated in New York under the following:
Current Entity
Name: SHINE DIAM INC.
Initial DOS Filing
Date: JANUARY
26, 2001
County: WESTCHESTER
Jurisdiction: NEW YORK
Entity Type: DOMESTIC
BUSINESS CORPORATION
Current Entity
Status: ACTIVE
Selected Entity
Address Information DOS Process
C/O GUNVANT
KATHARANI, CPA
129 STONE OAKS DRIVE
HARTSDALE, NEW YORK,
10530
Registered
Agent: NONE
Managers/Key
Personnel
Mr. Bijal Shah President
Mr. Sejal Shah Vice President
OWNERS
Mr. Bijal Shah % Majority
AFFILIATED ENTITIES
There are no known
affiliates or subsidiaries at this time.
BANKS
BANK LEUMI
562 5TH AVENUE SUITE 9
NEW YORK NY 10036
Telephone: 212
626-1355
Facsimile:
Account Number:
Account Manager:
This information
could not be confirmed as the bank requires a signed authorization which could
not be obtained.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
06-12 06-12 0000000 1500
1500 70 30
0 0 0 CUST 1 YR
AIR TRANS
06-11 00-00 NET 30 100 100
0 0 100 0 0 COLLECTION
TELECOM
05-06 00-00 NET 30 100 0
0 0 0 0 0
CURRENT QUARTER 1500
1500 70 30
0 0 0
FINANCIAL INFORMATION
Mr. Shah declined to
provide financial statements or accept a written request for further financial
details.
An outside source
reported the Firm's sales in the US$ 4 million range however this could not be
confirmed.
CURRENT OPERATIONS
NAICS Code: 42194
Jewelry, Watch, Precious Stone and Precious Metal
SIC Code: 5094
Number of
Employees: 12
Business Activity:
The Firm is a wholesaler
of diamonds.
The Firm offers
loose diamond to fine jewelry manufactures. The Firm imports from India and
Africa. The Firm also offers minor fine jewelry wholesale services.
The heading address
is the Firm's sole location.
TRADE REFERENCES
We could not obtain
trade references.
PUBLIC RECORD
Name Searched: SHINE
DIAM
Debtor Address:
SHINE DIAM INC.
2 WEST 46TH STREET
SUITE 1006
NEW YORK, NY 10035
Secured Parties: FPC
FUNDING II LLC
Filing Date:
2/13/2004
Filing Number:
0402135118411
Filing Type: INITIAL
FILING
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Name Searched: SHINE
DIAM INC.
Amount: $ 1,038.22
Creditor:
COMMISSIONER OF LABOR STATE OF NEW YORK
- - - DEPARTMENT OF
LABOR
ALBANY NY 12240
Debtors: SHINE DIAM
INC
2 W 46TH STREET
NY NY 10036-4502
Docket Date:
02/28/2005
Docket Type:
INDUSTRIAL COMMISSION WARR
Lien Type: JUDGMENTS
DOCKET
Transaction Number:
31001961691
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Name Searched: SHINE
DIAM INC.
Amount: $ 1,043
Creditor: COMMISSIONER
OF LABOR STATE OF NEW YORK
DEPARTMENT OF LABOR
ALBANY, NY 12240
Debtors: SHINE DIAM
INC
2 WET 46TH ST
NEW YORK, NY 10036-4502
Docket Number:
2250075
Filing Date:
3/27/2007
Type: JUDGMENT
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Name Searched: SHINE
DIAM INC.
Debtor Address:
SHINE DIAM INC.
2 WEST 46TH STREET
SUITE 1006
NEW YORK, NY 10035
Secured Parties: FPC
FUNDING II LLC
Filing Date:
2/13/2004
Filing Number:
0402135118411
Filing Type: INITIAL
FILING
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No bankruptcy
petitions were traced to the Firm, however there are legal actions filed
against the Firm in public. The status is uncertain as no further information
is currently available.
GENERAL COMMENTS
The Firm is an established
wholesaler of diamonds. The payment record is satisfactory. No bankruptcy
petitions were traced to the Firm, however there are legal actions filed
against the Firm in public records. The status is uncertain as no further
information is currently available. The Firm is considered responsible for
limited trade relations.
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%)