MIRA
INFORM REPORT
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Report Date : |
25th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SIMPLEX
DIAM INC. |
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Registered Office : |
20
East 46th Street, Suite 1101, New York 10017 |
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Country : |
United
States |
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Date of Incorporation : |
10/10/1983 |
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Legal Form : |
Corporation
– Private |
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Line of Business : |
Wholesale
distribution of loose diamonds, promotional jewellery and jewellery pieces. |
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 : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
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Company Name |
SIMPLEX
DIAM INC. |
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Address |
20
EAST 46TH STREET, SUITE 1101 |
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City |
NEW
YORK |
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State/Province |
NEW
YORK |
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Zip Code |
10017 |
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Country |
UNITED
STATES |
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Telephone |
212
883-0888 |
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Facsimile |
212
883-9532 |
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Legal Form |
Corporation
- Private |
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As of |
- |
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Sales / Revenue |
- |
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Net Income |
- |
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Total Equity |
- |
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Number of Employees |
10 |
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Website |
www.simplexdiamonline.com |
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Business Activity |
The
Company engages in the wholesale distribution of loose diamonds, promotional
jewellery, and jewellery pieces. It specializes in princess cut, marquise,
and round diamonds and baguettes and targets the U.S. |
NOTE TO CLIENT
PERSON
CONTACTED:
Ms.
Sangwta Kulkarni, Accounts Payable Manager.
--
Ms.
Kulkarni provided the information found in this report. She would not provide
references or financial information over the telephone. A written request has
been forwarded to her attention via fax; however, a response has not been
received yet. If any additional information is received in the near future, it
will be forwarded at that time.
LEGAL
Legal
Form: Corporation - Private
Since
(D/M/Y): 10/10/1983
State/Province
of Incorporation: NEW YORK
Status:
ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
Entity Name: SIMPLEXDIAM
INC.
Initial Filing Date: OCTOBER 18, 1983
County: NEW
YORK
Jurisdiction: NEW YORK
Entity Type: DOMESTIC
BUSINESS CORPORATION
Current Status: ACTIVE
Entity Address: SIMPLEXDIAM INC.
20 EAST 46TH STREET
SUITE 1101
NEW YORK, NEW YORK, 10017
Principal
Office: SIMPLEXDIAM INC.
20 EAST 46TH STREET
SUITE 1101
NEW YORK, NEW YORK, 10017
Registered
Agent: NONE
Managers/Key
Personnel
Mr.
Yogesh Madhvani
President
AFFILIATED ENTITIES
There
are no affiliated companies or subsidiaries.
BANKS
BANK
LEUMI
Telephone:
Facsimile:
Account
Number:
Account
Manager:
The bank
listed above is the primary bank of use for the Subject. An account reference
or signed authorization could not be obtained at this time, and as a result,
detailed account information would not be released from the Subject's financial
institution.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
BUS SERVCS 06-10 00-00 VARIED 100
100 100 0 0
0 0
COMPUTERS
06-11 00-00 CREDIT 10000 0
0 0 0 0 0
FINCL SVCS 06-11 06-10 CONTRCT 0 0 0 0 0
0 0 SATSFTRY
OFFC SUPPL 06-11 06-10 CREDIT 5000
100 100 0 0
0 0 ACCTCLOSED
BUS SERVCS 04-10 00-00 NET 30 0
0 0 0
0 0 0
COMPUTERS
05-05 00-00 CREDIT 0 0 0 0 0
0 0 CUST 37 YR
COMPUTERS
04-02 00-00 NET 30 0 0 0 0 0
0 0
LEASING
05-01 05-01 NOTE 11700 11700
100 0 0 0
0
LEASING
04-03 00-00 CONTRCT 6500
0 0 0
0 0 0 CUST 1 YR
RENTALS
05-09 00-00 NET 30 500 400
50 50 0 0 0
CURRENT QUARTER 15100
200 100 0 0
0 0
Payment
Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE
CUR DBT DBT $ % 30
60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20061000
0 5 0 200 100
0 0
0 0
20060900
0 5 0 300 100
0 0
0 0
20060800
0 6 0 200 100
0 0
0 0
20060700
0 6 1 300 91 9
0 0 0
20060600
0 5 0 200 100
0 0
0 0
20060500
0 5 0 200 100
0 0
0 0
Payment History - Quarterly Averages
BALANCE
CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ ---
-------- --- --- --- --- ---
Third
2006 0 200 100 0 0 0 0
Second
2006 1 200 96 4 0
0 0
First
2006 1 100 93 7 0
0 0
Fourth
2005 0 100 100 0 0 0
0
Third
2005 0 100 100 0 0
0 0
FINANCIAL INFORMATION
Financial
information was declined by management.
CURRENT OPERATIONS
NAICS
Code: 42194 Jewellery, Watch, Precious Stone and Precious Metal
SIC
Code: 5094
Number
of Employees: 10
Business Activity
The
Company engages in the wholesale distribution of loose diamonds, promotional
jewellery, and jewellery pieces. It specializes in princess cut, marquise, and
round diamonds and baguettes and targets the U.S.
The
heading address is the Company headquarters and sole location and serves as an
administrative office and a storage facility.
The property is rented by the Company.
PUBLIC RECORD
A search
of public revealed the following:
-----
Name
Searched: SIMPLEX DIAM INC
Debtor
Address: SIMPLEX DIAM, INC.
1180
AVE. AMERICAS
NEW
YORK, NY 10036
SIMPLEX
DIAM, INC.
20 E.
46TH ST. SUITE 1101
NEW
YORK, NY 10017
SIMPLEX
DIAM, INC.
20 E.
46TH ST. SUITE 1101
NEW
YORK, NY 10017
Secured
Parties : BANK LEUMI TRUST
COMPANY OF
Filing
Date : 4/19/2005
Filing
Number : 0504195337146
Filing
Type : CONTINUATION
Original
Filing Number : 90150272
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No
additional UCC filings, or any bankruptcy petitions, legal proceedings, or tax
liens were found against the firm at this time.
GENERAL COMMENTS
Simplex
Diam Inc., incorporated in 1983 in the state of New York, engages as a
distributor of jewellery and precious stones. A recent payment record appears
in excellent condition. A search of
public records failed to reveal any negative filings against the Company. The
Company is considered well-established and it appears responsible for all
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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