MIRA
INFORM REPORT
|
Report Date : |
10.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
ACE DROP CLOTH & CANVAS
PRODUCTS CO. INC. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
30/01/1967 |
|
|
|
|
Legal Form : |
Corporation - Private |
|
|
|
|
Line of Business : |
Manufacturer and wholesaler of painting accessories |
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 : ACE DROP CLOTH
& CANVAS PRODUCTS CO. INC.
Trade Name(s) : Ace
Drop Cloth Co.
Address :
City :
State/Province :
Zip Code :
10457
Country :
UNITED STATES
Telephone : 718
731 1550
Facsimile :
718 299 5122
Legal Form :
Corporation - Private
Website :
www.acedropcloth.com
Business Activity : The Company
is engaged as a manufacturer and wholesaler of painting accessories.
As of :
--
Sales / Revenue : --
Net Income : --
Total Equity : --
Number of Employees : 31
NOTE TO CLIENT
Person Contacted: Adam, Office Manager
Management declined all information, all information in the report is
from outside sources and is unconfirmed by management.
LEGAL
Legal Form :
Corporation - Private
Since (D/M/Y) :
30/01/1967
State/Province of Incorporation :
NY
Status :
ACTIVE
Previous Legal Form :
--
Company is NOT required to publish an annual financial report.
Selected Entity Name: ACE DROP CLOTH & CANVAS PRODUCTS CO. INC.
Selected Entity Status Information
Current Entity Name: ACE DROP CLOTH & CANVAS PRODUCTS CO. INC.
Initial DOS Filing Date: JANUARY 30, 1967
County:
Jurisdiction:
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)
JACOB S. SCHULMAN
176 BROADWAY
Registered Agent
NONE
Managers/Key
Personnel
Mr. Jerry Mathios
President
Mr. Mark Mathios
Vice President - Sales
AFFILIATED ENTITIES
As far as can be determined, no affiliates or subsidiaries exist.
BANKS
Bank of
Telephone: 803 765 4882
Facsimile: 415 343 9301
Account Number:
Account Manager:
The bank requires an account number which could not be obtained.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
APPAREL
07-07 07-05 CREDIT 100 0
0 0 0
0 0 PROMPT
APPAREL
07-06 07-06 NET 45 103400 46400
96 3 1
0 0 CUST
5 YR
APRL MENS
07-07 07-07 NET 30 22100 700
100 0 0 0 0
APRL MENS
07-05 00-00 NET 30 11200 600
100 0 0 0 0
APRL MENS
07-06 04-07 VARIED 0 0
0 0 0
0 0 CUST
2 YR
APRL MENS
07-05 07-03 CREDIT 500 0
0 0 0
0 0 CUST
4 YR
APRL DISTR 07-07 00-00 CASH 0
0 0 0
0 0 0
CUST 1 YR
ART SUPPL
07-07 07-03 NET 30 1700 0
0 0 0
0 0 CUST
1 YR
BUS SERVCS 07-07 00-00 NET 30 400
200 75 0
25 0 0
FACTOR
07-07 04-04 VARIED 0 0
0 0 0
0 0
FINCL SVCS 07-07 00-00 VARIED 38800
19400 100 0 0
0 0 CUST
3 YR
FINCL SVCS 07-07 07-06 NET 30 700
300 100 0 0
0 0
FINCL SVCS 07-07 05-03 VARIED 0
0 0 0
0 0 0
TEMP HELP
07-04 00-00 NET 7 100 0
0 0 0
0 0
TELECOM
07-07 00-00 NET 30 400 200
100 0 0 0 0
TRANSPORTN 07-07 00-00 NET 20 0
0 0 0
0 0 0
CUST 2 YR
ADVERTISNG 05-05 00-00 NET 30 400
400 100 0 0
0 0
ADV MEDIA
04-11 00-00 VARIED 0 0
0 0 0
0 0
APPAREL
04-11 01-06 VARIED 100 100
0 0 0
0 100
APPAREL
05-12 00-00 VARIOUS 0
0 0 0
0 0 0
PROMPT
COMPUTERS
07-01 00-00 CREDIT 25000 1400
100 0 0 0 0
CRED CARD
06-09 00-00 REVOLVE 0
0 0 0
0 0 0
CUST 39 YR
CRED CARD
07-06 00-00 REVOLVE 0
0 0 0
0 0 0
ACCTCLOSED
FACTOR
05-05 05-04 VARIED 15300 100
100 0 0 0 0
FACTOR
04-09 04-04 NET 90 12800 0
0 0 0
0 0
GIFTWARE
06-09 00-00 NET 30 0 0
0 0 0
0 0 PROMPT
HOUSEWARES 06-04 06-04 VARIED 900
900 70 30
0 0 0
PETROLEUM
04-10 00-00 VARIED 200 200
100 0 0 0
0 PROMPT
PETROLEUM
07-03 05-03 VARIED 0 0
0 0 0
0 0 CUST 33 YR
PRNTG& PUBL 07-02 07-01 NET 30 700
300 100 0 0
0 0 CUST
1 YR
SPORT GDS
05-07 00-00 COD 0 0
0 0 0
0 0 CUST
5 YR
CURRENT QUARTER 179400 67800
97 2 1
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $
% 30
60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070700
0 5 1 67900 97
2 1 0 0
20070600
0 4 1 41900 93
7 0 0 0
20070500
0 4 0 87300 100 0
0 0 0
20070400
0 4 0 83400 100 0
0 0 0
20070300
0 5 2 96900 90
10 0 0 0
20070200
0 4 2 97100 90
10 0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 0 65700 98
2 0 0 0
First
2007 1 92500 93
7 0 0 0
Fourth
2006 2 44200 88
12 0 0 0
Third
2006 0 25000 97
3 0 0 0
Second
2006 1 29100 96 4 0
0 0
FINANCIAL INFORMATION
Management declined financial information and outside sources provided
no insight into the Company's financial condition.
CURRENT OPERATIONS
NAICS Code: 339
Miscellaneous Manufacturing
NAICS Code: 422
Wholesale Trade, Nondurable Goods
Number of Employees:
31
Business Activity
The Company is engaged as a manufacturer and wholesaler of painting
accessories. According to the website the Company manufactures canvas and
plastic drop cloths, painting clothes, wiping rags and lamb skin rollers. The
Company also offers T-shirts, shorts, aprons, outerwear, caps, bags, towels and
infant onesies which can be personalized with embroidery or screen printing.
This is the sole location for the Company.
PUBLIC RECORD
Filing Number :
302070291037
Filing Date :
02/07/2003
Filing Type :
CONTINUATION
Filing Date of Related Filing :
04/23/1998
Filing Office :
SECRETARY OF STATE/UCC DIVISION
DEBTOR INFORMATION
Debtor(s): ACE DROP CLOTH
& CANVAS PRODUCTS CO., INC.
SECURED PARTY OR CREDITOR INFORMATION
Secured Party(s): MERRILL LYNCH
BUSINESS FINANCIAL SERVICES INC.
No liens, legal issues or bankruptcies were found in the Company name.
GENERAL COMMENTS
The Company incorporated in 1967, engaged as a manufacturer and
wholesaler of painting accessories. They have a satisfactory payment history and
no derogatory information was found in the name of the Company.
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. |
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%)