MIRA INFORM REPORT

 

 

Report Date :

24th February, 2007

 

IDENTIFICATION DETAILS

 

Name :

GEMS INTERNATIONAL OF CALIFORNIA

 

 

Registered Office :

550 South Hill Street, Suite 925, Los Angeles, California 90013                       

 

 

Country :

United States               

 

 

Line of Business :

Importing and wholesaling of gems, diamonds, and related products.

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

 

IDENTIFICATION & EXECUTIVE SUMMARY

 

Company Name : GEMS INTERNATIONAL OF CALIFORNIA

Address                        : 550 SOUTH HILL STREET

               SUITE 925

City                              : LOS ANGELES

State/Province               : CALIFORNIA                           

Zip Code                       : 90013                       

Country                         : UNITED STATES               

Telephone                     : 213 623-5370                

Facsimile                      : 213 623-8737

Legal Form                    :

As of                             :

Sales / Revenue :

Net Income                    :

Total Equity                   :

Website                        : No Web Site

Business Activity           :

 

 

IMPERATIVES

 

REGARDING A REQUEST FOR GERM INTERNATIONAL OF CALIFORNIA PLEASE BE ADVISED THAT THE CORRECT LEGAL NAME IS GEMS INTERNATIONAL OF CALIFORNIA FOR WHICH A REPORT FOLLOWS.

 

Attempts to learn about the Subject were not successful. We found no trade name or corporate registrations that could be tied to the Subject. Numerous trade and corporate registrations were found under similar names. The Subject may be a sole proprietor with no registration, however this could not be confirmed.

 

The following listing was found through an outside source:

 

GEMS INTERNATIONAL OF CALIFORNIA

550 S. HILL STREET SUITE 925

LOS ANGELES CA 90013 USA

Phone: 213-623-5370

Fax: 213-623-8737

 

Tanzanite, Emerald, Ruby, Sapphire, Tourmaline And Diamond In All Sizes And Shapes. Also Pearls-Loose And Strands.

 

The Subject is reported to be engaged in the importing and wholesaling of gems, diamonds, and related products.

 

This phone number was contacted and confirmed to be that of Gems International of California. We spoke with Mr. Daggar (spelling not confirmed) who declined to confirm or provide any information on the Subject. We explained that this request originates from India, this did not have any bearing on Mr. Daggar's willingness to assist us. Mr. Daggar accepted a fax from us, if he replies with information this report will be amended at that time. Mr. Daggar did not comment on the Subject's legal name or status.

Outside sources such as: telephone directories, information services, internet search engines, and others could not offer any further information on the  Subject's operational or financial condition. While we have confirm that they are an active business entity, we have no solid information on their condition.  We found no public record filings in the Subject's name, including bankruptcy or other such derogatory filings. The following payment history was found for the Subject at the heading address:

 

 

 

 

Payment History

 

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

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

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

 ADVERTISNG 06-10 00-00 NET 30  0        0        0   0   0   0   0   CUST  3 YR

 AIR TRANS  06-08 06-08 0000000 100      100      100 0   0   0   0   CUST 24 YR

 BANK       06-10 06-08 CONTRCT 100100   0        0   0   0   0   0

 COMPUTERS  06-11 06-04 CREDIT  15000    0        0   0   0   0   0

 PACKAGING  06-11 00-00 NET 30  0        0        0   0   0   0   0   CUST  2 YR

 BUS SERVCS 06-03 06-03 NET 30  0        0        0   0   0   0   0

 GENERAL    05-02 04-09 NET 30  500      0        0   0   0   0   0   CUST  7 YR

 CURRENT QUARTER                115200   100      100 0   0   0   0

 

 Payment Trends

 

            INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

 DATE      CUR    DBT       DBT             $      %  30  60  90  91+

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

 20061100  0      5         0            100      100 0   0   0   0

 20061000  0      5         0            100      100 0   0   0   0

 20060900  0      5         0            200      100 0   0   0   0

 20060800  0      6         0            0        0   0   0   0   0

 20060700  0      6         0            1000     100 0   0   0   0

 20060600  0      5         0            1000     100 0   0   0   0

 

 Payment History - Quarterly Averages

 

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

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

 Third    2006              0            0        0   0   0   0   0

 Second   2006              0            33800    100 0   0   0   0

 First    2006              0            35400    100 0   0   0   0

 Fourth   2005              0            36100    100 0   0   0   0

 Third    2005              0            38500    100 0   0   0   0

 

In the absence of a reply from mangement our research has reached an impasse.

 

In our recent attempts to learn about the Company Mr. Daggar was reported to be out of the country until next week. A faxed request for information was sent to Mr. Sunil Jain, Vice President, however as of this writing we have not received any reply. Mr. Daggar was found to be the President of the Company according to a receptionist.

 

 

LEGAL

 

Legal Form:

Previous Legal Form:

Company is NOT required to publish an annual financial report.

 

 

FINANCIAL INFORMATION

 

Financial information was not immediately available.

 

CURRENT OPERATIONS

 

NAICS Code:   99        Unclassified Establishments

 

 

 

 

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/normal.

 

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%)