MIRA INFORM REPORT

 

 

Report Date :

30.06.2007

 

IDENTIFICATION DETAILS

 

Name :

SUBERI BROTHERS LLC

 

 

Registered Office :

902 Broadway, 14th Floor, New York 10010

 

 

Country :

United States

 

 

Date of Incorporation :

18.02.2004

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engages as a distributor of jewellery and precious stones and a manufacture of diamond jewellery.

 

 

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                       : SUBERI BROTHERS, LLC

Address                                  : 902 BROADWAY, 14TH FLOOR

City                                        : NEW YORK                    

State/Province                         : NEW YORK                             

Zip Code                                 : 10010                        

Country                                   : UNITED STATES               

Telephone                : 212 979-9100                

Facsimile                                : 212 979-5331                

Legal Form                              : Limited Liability Company

Website                                  : no website available

Business Activity                     : The Company engages as a distributor of jewelry and precious stones  

                                                and a manufacture of diamond jewelry.  It targets the U.S. market.

Founded (D/M/Y)                     : 18/06/1984

As of                                      : 31/12/2005

Sales / Revenue                      : 31,000

Net Income                             :

Total Equity                             :

Number of Employees              : 40

 

 

NOTE TO CLIENT

 

PERSON CONTACTED:

Ms. Nandra Singh, Controller.

 

 

LEGAL

 

Legal Form                              : Limited Liability Company                

Since (D/M/Y)                         :  18/02/2004

State/Province of Incorporation  :  NEW YORK

Status                                    : ACTIVE

Previous Legal Form:

 

Company is NOT required to publish an annual financial report.

 

Entity Name             : SUBERI BROTHERS, LLC

Initial Filing Date       : FEBRUARY 18, 2004

County                    : NEW YORK

Jurisdiction              : NEW YORK

Entity Type              : DOMESTIC LIMITED LIABILITY COMPANY

Current Status          : ACTIVE

-----

Entity Address         : SUBERI BROTHERS, LLC

                                 902 BROADWAY, 14TH FLOOR

                                 NEW YORK, NEW YORK, 10010

Registered Agent      : ROSS MARKMAN

                                 902 BROADWAY, 14TH FLOOR

                                 NEW YORK, NEW YORK, 10010

 

 

 

 

Managers/Key Personnel

 

Mr. Marvin Markman                     Chief Executive Officer

Ms. Nandra Singh                       Controller

 

 

AFFILIATED ENTITIES

 

Laxmi Diamond Group

 

 

BANKS

 

HSBC BANK USA N.A.

452 5th Ave # 2

New York, NY 10010

Telephone : 212 525-6487

Facsimile                 : 212 525-6902

Account Number      :

Account Manager     : Greg

 

The bank listed above is the primary bank of use for the Subject.

A request for account information has been forwarded to the bank.

However, a signed authorization could not be obtained from management and account details may not be available as a result.

 

 

PAYMENT HISTORY

 

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

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

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

 AIR TRANS  06-10 00-00 0000000 16900    11400    100 0   0   0   0   CUST 19 YR

 OFFC SUPPL 06-11 06-10 CREDIT  7500     2200     100 0   0   0   0

 

 PACKAGING  06-11 00-00 NET 30  500      400      100 0   0   0   0   CUST  4 YR

 PETROLEUM  06-11 02-09 VARIED  0        0        0   0   0   0   0   ACCTCLOSED

 AIR TRANS  05-12 00-00 NET 30  100      0        0   0   0   0   0   CUST  2 YR

 CELLUL/PAG 05-01 04-11 NET 30  200      100      100 0   0   0   0   CUST  6 YR

 COMMUN SVC 04-10 00-00         300      0        0   0   0   0   0

 CRED CARD  06-11 00-00 REVOLVE 0        0        0   0   0   0   0   CUST 25 YR

 CRED CARD  04-05 04-05 NET 30  100      0        0   0   0   0   0   CUST 23 YR

 LEASING    05-01 05-01 NOTE    7400     3100     100 0   0   0   0

 MANUFCTRNG 04-07 00-00         0        0        0   0   0   0   0

 TELECOM    04-11 00-00 NET 30  400      200      100 0   0   0   0

 TELECOM    04-07 00-00 NET 30  100      0        0   0   0   0   0

 CURRENT QUARTER                24900    14000    100 0   0   0   0

 

 Payment Trends

            INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

 DATE      CUR    DBT       DBT             $      %  30  60  90  91+

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

 20061100  0      3         0            15700    100 0   0   0   0

 20061000  0      4         8            21000    49  51  0   0   0

 20060900  0      5         0            14300    100 0   0   0   0

 20060800  0      6         0            2500     100 0   0   0   0

 20060700  0      6         1            4300     95  5   0   0   0

 20060600  0      3         0            1900     97  3   0   0   0

 

 Payment History - Quarterly Averages

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

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

 Third    2006              4            12600    71  29  0   0   0

 Second   2006              1            2700     96  4   0   0   0

 First    2006              0            1600     97  3   0   0   0

 Fourth   2005              0            1100     100 0   0   0   0

 Third    2005              0            1200     100 0   0   0   0

 

 

FINANCIAL INFORMATION

 

FINANCIAL FIGURES

 

Year-End (D/M/Y):               31/12/2006         31/12/2005         31/12/2005

                                          Projected         Consolidated

Sales / Revenues                   40,000           31,000              -

 

The Subject reports annual sales for the fiscal year 2005 in the US $31 million range. It projects that annual sales for the fiscal year 2006 will close in the US $40 million range. The firm is profitable.

 

 

HISTORY

 

The Subject was originally incorporated in the state of New York under the legal name " Suberi Brothers Inc."  In February of 2004, it merged with the U.S. office of the Laxmi Diamond Group, located in India. As a result of the merger, the Company's name was legally changed to " Suberi Brothers, LLC" .

 

 

CURRENT OPERATIONS

 

NAICS Code                            : 42194     Jewelry, Watch, Precious Stone and Precious Metal

SIC Code                                : 5094

 

Number of Employees              : 40

 

 

Business Activity

 

The Company engages as a distributor of jewelry and precious stones and a manufacture of diamond jewelry.  It targets the U.S. market.

-    -    -

 

The heading address is the Company headquarters and sole location and serves as an administrative office.  The property is rented by the Company.

 

 

PUBLIC RECORD

 

A search of public revealed the following:

-----

Name Searched       : SUBERI BROTHERS LLC

Debtor Address        : SUBERI BROTHERS, LLC

                                 902 BROADWAY NEW YORK, NY 10010

Secured Parties       : HSBC BANK USA, NATIONAL ASSOCIATION

Filing Date               : 12/21/2004

Filing Number           : 0412216060429

Filing Type               : INITIAL FILING

-----

No additional UCC filings, or any bankruptcy petitions, legal proceedings, or tax liens were found against the firm at this time.

 

 

GENERAL COMMENTS

 

Suberi Brothers, LLC, incorporated in 2004 in the state of New York, engages as a distributor of jewelry &  precious stones and manufacturer of diamond jewelry. A payment record appears in excellent condition.  A search of public records failed to reveal any negative filings against the firm.  The Company appears responsible for normal business transactions.

 

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%)

 

 

 

 

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