MIRA
INFORM REPORT
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Report Date : |
23.01.2007 |
IDENTIFICATION DETAILS
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Name : |
SAVORY
GOURMET, INC. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
16/09/2003 |
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Legal Form : |
Corporation
– Private |
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Line of Business : |
Wholesaler
of gourmet foods. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company
Name : SAVORY GOURMET, INC.
Address :
City :
State/Province :
Zip Code : 90230
Country : UNITED STATES
Telephone : 310 391-5422
Facsimile : 310 572-4452
Legal
Form : Corporation -
Private
As of : 31/12/2004
Sales /
Revenue : 1,730,000
Net
Income : 120,000
Total
Equity : 125,000
Number
of Employees : 10
Website : No websites
Maj.
Shareholder : Mr. Pierre
Beylier
@rating
Opinion : @@@ up to $100,000
Business
Activity : The Subject is a
wholesaler of gourmet foods.
NOTE TO CLIENT
Please
see entire report for updated information.
*******************************
Please
note the legal name of the Company is SAVORY GOURMET, INC. The provided name
corresponds to a trade name for the company. Also, the Company is located 6762
South Gentinela avenue
Contacted
Person Silvia Oliveres, Accounting/Office Manager.
Ms.
Oliveres provided or confirmed general business information about the Subject.
Amount
Requested: 200,000
The
amounts requested and advised are expressed in: EUR
LEGAL
Legal
Form :
Corporation - Private
Since
(D/M/Y) :
16/09/2003
State/Province
of Incorporation : CA
Status : ACTIVE
Previous
Legal Form : None
Company
is NOT required to publish an annual financial report.
The
Subject is incorporated in the State of
Corporation
SAVORY
GOURMET, INC.
Number:
C2524559
Date
Filed: 9/16/2003
Status:
active
Jurisdiction:
Address
6762 S
CENTINELA AVE STE C
Agent
for Service of Process
6762 S
CENTINELA AVE STE C
Managers/Key
Personnel
Mr.
Pierre Beylier President
Mr.
Pascal Besset Vice President
Ms.
Magaly Beylier Treasurer
Ms.
Silvia Olivares Accounts Manager
OWNERS
Mr.
Pierre Beylier
% Majority
Mr.
Pascal Besset
Minority
AFFILIATED ENTITIES
AFFILIATE
Petrovich
Caviar, Inc.
There
are no subsidiaries.
BANKS
First
Regional Bank
CA
Telephone:
310.793.1776
Facsimile:
Account
Number: 776012130
Account
Manager:
We sent
a fax requesting banking information. If we receive a response, an update will
be provided.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
ADVERTISNG 06-10 00-00 NET 30 0
0 0 0
0 0 0
CUST 3 YR
AIR TRANS
06-08 00-00 0000000 1500
200 100 0 0
0 0 CUST
3 YR
FINCL SVCS 06-11 06-10 CONTRCT 38800 31000
100 0 0 0
0 CUST 1 YR
PACKAGING
06-11 00-00 NET 30 900 0
0 0 0
0 0 CUST
2 YR
TELECOM
06-08 00-00 NET 30 100 100
100 0 0 0 0
AIR TRANS
05-12 00-00 NET 30 300 0
0 0 0
0 0 CUST
1 YR
LEASING
06-10 00-00 CONTRCT 500
500 100 0 0
0 0
CURRENT QUARTER 41300 31300
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
32800 100 0 0 0 0
20061000
0 5 0 33300 100 0
0 0 0
20060900
0 5 0 33300 100 0
0 0 0
20060800
0 6 0 33600 100 0
0 0 0
20060700
0 6 0 33900 100 0
0 0 0
20060600
0 5 0 35700 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Third
2006 0 33400 100 0
0 0 0
Second
2006 0 35300 100 0
0 0 0
First
2006 0 37000 100 0
0 0 0
Fourth
2005 0 0 0
0 0 0 0
Third
2005 0 0 0
0 0 0 0
FINANCIAL INFORMATION
FINANCIAL
FIGURES
Year-End (D/M/Y): 31/12/2004 31/12/2005 31/12/2006
Consolidated Consolidated Projected
Sales / Revenues 1,730,000 2,680,000 3,140,000
Gross Margin 473,000 750,000 920,000
Operating Income (Loss) 123,000 100,000 81,000
RESULTS
Income Tax 2,000 - -
Net Income 120,000 100,000 81,000
ASSETS
Cash and Equivalents 40,000 48,000 96,000
Inventory 193,000 361,000 358,000
Accounts Receivables 367,000 503,000 542,000
Total Current Assets 600,000 912,000 996,000
Property Plant & Equip 13,000 17,000 76,000
Total Fixed Assets 13,000 17,000 76,000
Total Assets 613,000 929,000 1,072,000
LIABILITIES
Trade Creditors 352,000 468,000 606,000
Other Current Liab 133,000 235,000 270,000
Total Current Liab 485,000 703,000 876,000
Long Term Debt 3,000 - -
Total Long Term Liab 3,000 - -
Total Liabilities 488,000 703,000 876,000
EQUITY
Total Equity 125,000 226,000 196,000
FINANCIAL
ANALYSIS
Actual Previous Percentage of total assets
31/12/2004 31/12/2005 31/12/2004
31/12/2005
Cash and Equivalents 40,000 48,000 6.53 5.17
Inventory 193,000 361,000 31.48 38.86
Total Current Assets 600,000 912,000 97.88 98.17
Total Assets 613,000 929,000 100.00
100.00
Total Current Liab 485,000 703,000 79.12 75.67
Long Term Debt 3,000 0 0.49 0.00
Total Liabilities 488,000 703,000 79.61 75.67
Total Equity 125,000 226,000 20.39 24.33
The
above figures are in actual USD.
CURRENT OPERATIONS
NAICS
Code: 4224 Grocery and Related Product Wholesalers
Number
of Employees: 10
Business Activity:
The
Subject is a wholesaler of gourmet foods.
The
Company targets distributors, hotels and restaurants.
The
heading address is the sole location of the company. The Company leases a 10,000
square foot facility.
PUBLIC RECORD
The
following UCC and civil filings were found :
Name
Searched: SAVORY GOURMET
Debtors:
SAVORY GOURMET, INC. [BUSINESS]
Filing
Date: 09/09/2005
Filing
Number: 057040846913
Secured
Party: FIRST REGIONAL BANK [BUSINESS]
1801
LOS
Status:
UNLAPSED
Type:
FINANCING STATEMENT
Name
Searched: SAVORY GOURMET
Parties:
JACQUES BAKERY, (CROSS DEFENDANT)
ROUGE
BISTRO, LLC, A
ROUGE
BISTRO & BAR, (CROSS COMPLAINANT)
SAVORY
GOURMET INC, (CROSS DEFENDANT)
Case
Name: JOHNSON V ROUGE BISTRO
Case
Number: 04HL03631
Defendant:
ROUGE BISTRO, LLC, A
ROUGE
BISTRO & BAR
Filing
Date: 9/1/2004
Filing
Type: CIVIL
Plaintiff:
JOHNSON, TRUMAN
A search
of bankruptcy courts revealed no record of the Subject filing for bankruptcy.
GENERAL COMMENTS
The
Subject is an established wholesaler of gourmet foods. The payment history
indicates that the Subject is efficient with its payments. Thus, the Company is considered to be
responsible for normal business transactions.
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/normal. |
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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