MIRA INFORM REPORT

 

 

Report Date :

10.08.2007

 

IDENTIFICATION DETAILS

 

Name :

STAR GEMS INC.(ATLANTA)

 

 

Registered Office :

1832 Independence Square Suite D, Dunwoody, Georgia, 30338, 

 

 

Country :

United States                

 

 

Date of Incorporation :

23/02/1993

 

 

Legal Form :

Corporation - Private

 

 

Line of Business :

The Subject is engaged as a loose diamond importer and jewelry manufacturer

 

 

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 : STAR GEMS INC.(ATLANTA)

Address                        : 1832 INDEPENDENCE SQUARE SUITE D

City                              : DUNWOODY

State/Province               : GEORGIA                              

Zip Code                       : 30338                        

Country                         : UNITED STATES               

Telephone                     : 770 394-6727                

Facsimile                      : 770 394-4233                   

Legal Form                    : Corporation - Private

Website                        : www.stargems.com

Business Activity           : The Subject is engaged as a loose diamond importer and jewelry manufacturer.

As of                             : --

Sales / Revenue : --

Net Income                    : --

Total Equity                   : --

Number of Employees    : 4

 

 

NOTE TO CLIENT

 

PERSON CONTACTED:           Mr. Anish Desai- Chief Executive Officer

 

Mr. Desai provided all the information in this report.

 

PLEASE NOTE:  The correct legal name of the Firm is STAR GEMS INC. (ATLANTA) for which a report follows.

 

 

LEGAL

 

Legal Form                                            : Corporation - Private                    

Since (D/M/Y)                                        : 23/02/1993

State/Province of Incorporation                : GA

Status                                                   : ACTIVE

Previous Legal Form                               : --

 

Company is NOT required to publish an annual financial report.

 

 Legal Name                                          : STAR GEMS INC. (ATLANTA)

 Control No.                                           : K607388

 Status                                                  : Active/Compliance

 Entity Creation Date                              : 2/23/1996

 Jurisdiction                                           : GA

 Principal Office Address                        : 1832 INDEPENDENCE SQ # D

                                                              DUNWOODY GA 30338-5150

 Last Annual Registration Filed Date        : 3/13/2007

 Last Annual Registration Filed                : 2007

 Registered Agent

 Agent Name                                         : ANISH DESAI

 Office Address                                      : 1832 INDEPENDENCE SQUARE #D

                                                               DUNWOODY GA 30338

 Agent County                                       :  DEKALB

 

Managers/Key Personnel

 

Anish Desai                            Chief Executive Officer

 

 

AFFILIATED ENTITIES

 

There are no affiliated companies.

 

There are no subsidiaries.

 

 

BANKS

 

Telephone:

Facsimile:

Account Number:

Account Manager:

 

Management declined to provide the name of the primary bank, and outside sources consulted could provide no insight.

 

 

PAYMENT HISTORY

 BUSINESS   DATE  LAST  PAYMENT CREDIT   BALANCE  CUR 1-  31- 61-

 CATEGORY   REPTD SALE  TERMS      $        $      %  30  60  90  91+ COMMENTS

 ---------- ----- ----- ------- -------- -------- --- --- --- --- --- --------

 ADVERTISNG 07-06 00-00 NET 30  0        0        0   0   0   0   0   CUST  4 YR

 AIR TRANS  07-06 07-06 0000000 2200     1700     100 0   0   0   0   CUST 17 YR

 

 BANK       07-06 07-06 CONTRCT 50300    37400    100 0   0   0   0

 PACKAGING  07-07 00-00 NET 30  0        0        0   0   0   0   0   CUST  2 YR

 WAREHOUSE  07-07 06-10 VARIED  1400     0        0   0   0   0   0   CUST  3 YR

 GENERAL    05-02 03-01 NET 30  0        0        0   0   0   0   0   CUST  8 YR

 MANUFCTRNG 06-10 00-00 CERTCHK 0        0        0   0   0   0   0

 OFFC SUPPL 05-11 00-03 CREDIT  0        0        0   0   0   0   0   CUST 10 YR

 CURRENT QUARTER                53900    39100    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            39100    100 0   0   0   0

 20070600  0      5         0            41200    100 0   0   0   0

 20070500  0      4         0            41900    100 0   0   0   0

 20070400  0      4         0            41600    100 0   0   0   0

 20070300  0      4         0            43600    100 0   0   0   0

 20070200  0      4         0            44600    100 0   0   0   0

 

 Payment History - Quarterly Averages

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

 -------- ------            ---          -------- --- --- --- --- ---

 Second   2007              0            40700    100 0   0   0   0

 First    2007              0            43300    100 0   0   0   0

 Fourth   2006              0            47300    100 0   0   0   0

 Third    2006              0            49200    100 0   0   0   0

 Second   2006              0            45900    100 0   0   0   0

 

FINANCIAL INFORMATION

 

Management declined to provide any financial information, however outside sources consulted report US$2.0 million annual sales.

 

 

 

 

 

CURRENT OPERATIONS

 

NAICS Code:   339911    Jewelry (except Costume) Manufacturing

SIC Code:            3911

 

Number of Employees:               4  

 

 

Business Activity

 

The Subject is engaged as a loose diamond importer and jewelry manufacturer. Some of the products manufactured include bracelets, rings, earrings, and pendants, which are distributed to over 700 independent retailers nationwide. The above address is the headquarters location, there are branches at the  following locations; Atlanta and Bombay, India.

 

 

PUBLIC RECORD

 

Name Searched: STAR GEMS INC.

Debtor Address: STAR GEMS INC (GEORGIA CORPORATION)

1832 INDENPENDENCE SQUARE STE #D

DUNWOODY, GA 30338

Secured Parties: BANK LEUMI USA

 

Filing Date: 7/23/2002

Filing Number: 04402003790

Filing Type: CONTINUATION

Original Filing Number: 04497013164

 ---------

A search of bankruptcy courts revealed no record of the Subject filing for  bankruptcy.

 

 

GENERAL COMMENTS

 

Star Gems Inc, is an importer of loose diamonds and manufacturer of jewerly. Payment record is satisfactory and a search of public 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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions