MIRA
INFORM REPORT
|
Report Date : |
10.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
COMBINE INTERNATIONAL, INC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11/02/1977 |
|
|
|
|
Legal Form : |
Corporation - Private |
|
|
|
|
Line of Business : |
Designer and Manufacturer of Fine Jewelry |
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 : COMBINE
INTERNATIONAL, INC.
Address :
City :
State/Province :
Zip Code :
48083
Country :
UNITED STATES
Telephone : 248
585-9900
Facsimile :
248 585-8643
Legal Form :
Corporation - Private
Website :
www.combine.com
Maj. Shareholder : The
Mehta Family
Business Activity : The Company
is a designer and manufacturer of fine jewelry.
Founded (D/M/Y) :
01/01/1977
As of :
--
Sales / Revenue : --
Net Income : --
Total Equity : --
Number of Employees : 200
NOTE TO CLIENT
PERSON CONTACTED
Receptionist
The receptionist confirmed the address and contact information.
A message was left via telephone for Management with the receptionist.
In addition Management was sent a written request for general information via
facsimile. Unfortunately, we did not
receive a response to our inquiries and thus, cannot substantiate general
information contained in this report. If however, Management responds to our inquiries at a later time,
this report will be appropriately amended.
Information in this report has been obtained from outside sources and
has not been confirmed by management.
LEGAL
Legal Form :
Corporation - Private
Since (D/M/Y) :
11/02/1977
State/Province of Incorporation :
MI
Status :
ACTIVE
Previous Legal Form :
--
Company is NOT required to publish an annual financial report. The
Company is registered in the State of
Registration:
ID Num : 006345
Entity Name :
COMBINE INTERNATIONAL, INC.
Type of Entity : Domestic
Profit Corporation
Resident Agent : SHRIKANT
MEHTA
Registered Office Address :
TROY
MI 48083
Mailing Address :
MI
Formed Under Act Number(s) :
284-1972
Incorporation/Qualification Date :
2-11-1977
Jurisdiction of Origin :
Number of Shares :
50,000
Year of Most Recent Annual Report :
06
Year of Most Recent Annual Report
With Officers & Directors : 97
Status :
ACTIVE
Date :
Present
Managers/Key Personnel
Mr. Shrikant Mehta
President
Ms. Nina Mehta
Vice President
OWNERS
The Mehta Family 100.00% Shareholder
AFFILIATED ENTITIES
Internet Operations Center Inc.
I-Logice Corp.
Evigna's
As far as can be deterimined there are no subsidiaries.
BANKS
Telephone:
Facsimile:
Account Number:
Account Manager:
The name of the primary bank could not be obtained at this time.
Comerica Bank was mentioned as a secured party for financing.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- -------- --------
--- --- --- --- --- --------
COMPUTERS
07-06 00-00 0000000 43900
0 0 0
0 0 0
CUST 2 YR
DP EQUIP
07-05 03-06 NET 30 0 0
0 0 0
0 0
FACTOR
07-07 04-11 NET 30 0 0
0 0 0
0 0
FINCL SVCS 07-06 07-05 CONTRCT 1400 800
100 0 0 0
0 CUST 2 YR
FREIGHT
07-04 06-10 VARIED 7200 0
0 0 0
0 0
AIR TRANS
06-06 06-05 0000000 31900
25800 79 7
14 0 0
CUST 28 YR
AIR TRANS
06-11 00-00 NET 30 100 100
0 0 0
100 0 COLLECTION
CELLUL/PAG 07-07 04-04 NET 30 100
100 0 0
0 0 100 WRITE-OFF
CELLUL/PAG 05-04 05-03 NET 30 400
0 0 0
0 0 0
CUST 7 YR
CELLUL/PAG 05-11 02-10 NET 30 300 0
0 0 0
0 0 PIF-CHGOFF
CELLUL/PAG 04-09 04-09 NET 30 500
500 100 0 0
0 0 CUST
4 YR
COMPUTERS
05-05 00-00 CREDIT 0 0
0 0 0
0 0 CUST 37 YR
LEASING
06-02 00-00 CONTRCT 29900
0 0 0
0 0 0
CUST 1 YR
MANUFCTRNG 06-10 00-00 VARIED 2300
0 0 0
0 0 0
MANUFCTRNG 05-04 00-00 NET 30 0
0 0 0
0 0 0
CUST 14 YR
MISC MANUF 05-04 05-03 VARIED 2300
2300 0 100 0
0 0
OFFC SUPPL 04-12 04-12 NET 30 200
200 100 0 0 0 0
CUST 13 YR
PACKAGING
06-01 04-10 NET 30 100 100
0 0 100 0
0
PETROLEUM
04-10 00-00 VARIED 800 600
100 0 0 0
0 PROMPT
PETROLEUM
07-02 06-12 VARIED 200 0
0 0 0
0 0 CUST 13 YR
CURRENT QUARTER 52500 800
100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070700
0 5 0 800 100 0
0 0 0
20070600
0 5 0 900 100 0
0 0 0
20070500
0 4 0 800 100 0
0 0 0
20070400
0 4 0 800 100 0
0 0 0
20070300
0 4 0 500 100 0
0 0 0
20070200
0 4 0 600 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 0 800
100 0 0 0 0
First
2007 0 600 100 0
0 0 0
Fourth
2006 0 700 100 0
0 0 0
Third
2006 0 700 100 0
0 0 0
Second
2006 0 900 100 0
0 0 0
FINANCIAL INFORMATION
Since we were unable to reach Management, financial statements could not
be obtained. Outside sources consulted report annual sales to be US$17.3
million. This information has not been confirmed by management.
CURRENT OPERATIONS
NAICS Code: 42194
Jewelry, Watch, Precious Stone and Precious Metal
SIC Code: 5094
Number of Employees:
200
Business Activity
The Company is a designer and manufacturer of fine jewelry. The Firm
offers the following services; point-of-sale displays, advertising, direct
mail, product branding, certification, registration, quality guarantees,
packaging and sales training.
The above address is the headquarters for the Subject. We believe this
to be the sole location for the Firm.
PUBLIC RECORD
Name Searched: COMBINE INTERNATIONAL INC.
Debtor Address: COMBINE INTERNATIONAL, INC.
Secured Parties: COMERICA BANK
Filing Date: 5/2/2006
Filing Number: 2006079059-0
Filing Type: CONTINUATION
Original Filing Number: C528789
-------
Name Searched: COMBINE INTERNATIONAL INC.
Debtor Address: COMBINE INTERNATIONAL, INC.
Secured Parties: COMERICA BANK
Filing Date: 5/2/2006
Filing Number: 2006079060-3
Filing Type: CONTINUATION
Original Filing Number: B288643
-------
Name Searched: COMBINE INTERNATIONAL INC.
Debtor Address: COMBINE INTERNATIONAL, INC.
Secured Parties: COMERICA BANK
Filing Date: 12/13/2005
Filing Number: 2005213881-5
Filing Type: INITIAL FILING
-------
Name Searched: COMBINE INTERNATIONAL INC.
Debtor Address: COMBINE INTERNATIONAL, INC.
Secured Parties: DELL FINANCIAL SERVICES, L.P.
Filing Date: 8/15/2005
Filing Number: 2005144697-0
Filing Type: INITIAL FILING
---------
Name Searched: COMBINE INTERNATIONAL INC.
Debtor Address: COMBINE INTERNATIONAL INC
1139
Secured Parties: COMERICA BANK ATTN: UCC UNIT (MC 7578)
Filing Date: 5/18/2001
Filing Number: D776330
Filing Type: CONTINUATION
Original Filing Number: B288643
--------
Name Searched: COMBINE INTERNATIONAL INC.
Debtor Address: I L MFG CO
COMBINE INTERNATIONAL INC
Secured Parties: COMERICA BANK ATTN: UCC UNIT (MC 7578)
Filing Date: 5/18/2001
Filing Number: D776331
Filing Type: CONTINUATION
Original Filing Number: C528789
-------
A search of public and bankruptcy courts shows no tax liens, legal
actions or bankruptcy filings under the Subject's name.
GENERAL COMMENTS
The Company is a designer and manufacturer of fine jewelry. Payment
record is satisfactory and a search of public records and bankruptcy courts
revealed no derogatory information filed against the Company nor any
bankruptcies filed by 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%)