MIRA
INFORM REPORT
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Report Date : |
06.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AMCOT, INC. |
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Registered Office : |
Po Box 2827,
Lubbock, Tx - 79408 |
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Country : |
United States |
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Date of Incorporation : |
13/01/1930 |
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Legal Form : |
Corporation – Private |
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Line of Business : |
Other Support Services |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name: AMCOT, INC.
Trade Name: AMERICAN COTTON
COOPERATIVE ASSOCIATION
Address: PO BOX
2827
City: LUBBOCK
State/Province: TX
Zip Code: 79408
Country: UNITED
STATES
Telephone: 806-763-8011
Facsimile: 806-762-7335
URL www.amcot.org
Legal Form: Corporation -
Private
Shareholder:
Founded (D/M/Y):
Sales / Revenue: -
Net Income:
Total Equity:
Number of
Employees:
Business Activity:
NOTE TO CLIENT
AMERICAN COTTON COOPERATIVE
ASSOCIATION is a d/b/a for the legal entity, AMCOT, INC., for which a report
follows.
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AMCOT, INC. is
presently headquartered at the above-noted address. Please see below for more
details on the ordered address.
IMPERATIVES
ORDERED ADDRESS:
PO BOX 259
BAKERS FIELD,
CALIFORNIA
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Contact Person 1:
Mr. Mark Bagby, Public Relations
Company: Calcot
Ltd. PO BOX 259, Bakersfield, CA 93302
Phone:
661-327-5961
Fax: N/A
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Upon speaking with
Mr. Bagby, PR representative for Calcot Ltd., we were informed that the AMCOT,
INC. is a trade association owned and managed by four US cotton cooperatives.
Past chairmen of AMCOT, INC. are all prior presidents of the member
cooperatives.
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Mr. Bagby also
explained that the headquarters for AMCOT, INC. moved from Bakersfield, CA to
Lubbock, TX in February 2007, with the election of the new Chairman, Mr. Van
May.
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A search of public
revealed a registration under the name, AMCOT, INC. in the state of Delaware (see legal). At this time, the Subject
is not qualified in Texas.
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Contact Person 2:
Ms. Valerie Hearon, Admin. Asst. to the Chairman, Mr. Van May
Company: Amcot,
Inc., PO Box 2827, Lubbock, TX 79408
Phone:
806-763-8011
Fax: 806-762-7335
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Ms. Hearon
confirmed the information that follows.
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The Subject is the
trade association of four U.S. cotton marketing cooperatives (Calcot Ltd.,
Plains Cotton Cooperative Association, Staplcotn, and Cotton Growers
Cooperative).
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Amcot, Inc.
represents growers who produce the U.S. cotton crop, in everything from trade
issues to government policy.
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Currently the
physical address for Amcot, Inc. is:
3301 East 50th St
Lubbock, TX 79404
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There are
technically no employees for the Company, although there are the following
officers:
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Chairman - Mr. Van
May
Secretary/Treasurer
- Mr. Jarral T. Neeper
Director - Mr.
Robert W. Norris
Director - Mr.
Woods Eastland
Director - Mr.
Wally Darneille
Director - Mr. J.
Michael Quinn
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No payment records
could be found under the Subject's legal name because they are a representative
association as opposed to a corporation for profit.
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Likewise, there
are no sales figures for the Firm because they are classified as an
association.
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No derogatory
legal action was filed against the Subject nor were there any Uniform
Commercial Codes that were filed by the Subject. A search of bankruptcy courts
revealed no record of the Subject filing for bankruptcy.
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No further
information is available at this time, this is a full investigation.
LEGAL
Legal Form: Corporation
- Private
Incorporation
State DE
Status: ACTIVE
Previous Legal
Form: Association
Since (D/M/Y): 13/01/1930
The company is NOT
required to publish an annual financial report.
The Subject is incorporated in Delaware:
THIS IS NOT A STATEMENT OF GOOD STANDING
File Number: 0275313
Incorporation Date/Formation Date: 01/13/1930 (mm/dd/yyyy)
Entity Name: AMCOT, INC.
Entity Kind: CORPORATION
Entity Type: GENERAL
Residency: DOMESTIC
State: DE
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REGISTERED AGENT INFORMATION
Name: THE CORPORATION TRUST COMPANY
Address: CORPORATION TRUST CENTER 1209 ORANGE STREET
City: WILMINGTON
County: NEW CASTLE
State: DE
Postal Code: 19801
Phone: (302)658-7581
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The Subject is not presently qualified in Texas.
FINANCIAL INFORMATION
No information is
available at this time.
CURRENT OPERATIONS
SIC Code:
NAICS Code: 5619
Other Support
Services
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. |
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%)