MIRA
INFORM REPORT
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Report Date : |
04.07.2007 |
IDENTIFICATION DETAILS
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Name : |
DEEP FOODS INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1977 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Manufacturer of Indian
cuisine. |
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 : |
Exists |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name : DEEP FOODS, INC.
Address :
City :
Founded (D/M/Y) : 1977
State/Province : NEW
Zip Code : 07083
Country : UNITED STATES
Telephone : 908-810-7502
Facsimile : 908-810-0942
Number of Employees : 90
Legal Form : Corporation - Private
Website : www.deepfoods.com
Business Activity : The Subject is a family owned and opertated manufacturer of Indian
cuisine.
NOTE TO CLIENT
The receptionist deferred all questions to Mr. Arvin Amin, President, who was unavailable. Please note that we did send a written request to his attention via facsimile. An update will be provided accordingly should we receive a response at a later time. Information in this report could not be confirmed.
LEGAL
Legal Form : Corporation - Private
Since (D/M/Y) :
State/Province of Incorporation : NJ
Status : ACTIVE
Previous Legal Form : Company is NOT required to publish an annual financial report.
Business Name : Deep Foods, Inc.
Business ID Number : 0100043757
Business Type : Domestic Profit Corporation
Status : Active
Filing Date :
Incorporator : X
Agent : ARVIND AMIN
Agent Address : 84-3 Meeker Road
Office Address Status : Deliverable
Main Business Address :
Principal Business
Address :
Mr Arvind Amin President
Mr. Bhagwati Amin Vice President
AFFILIATED ENTITIES
As far as could be determined, there are no known affiliates or subsidiaries.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT
BALANCE CUR 1-
31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-03 07-03 0000000 1100
1100 100 0 0 0 0
CUST 14 YR
BUS SERVCS 07-06 00-00 VARIED 600
500 100 0 0
0 0
COMPUTERS
07-06 03-05 CREDIT 22500 0
0 0 0
0 0
FACTOR
07-05 07-03 VARIED 0 0
0 0 0
0 0
FINCL SVCS 07-06 07-05 VARIED 0
0 0 0
0 0 0
FREIGHT
07-04 04-12 VARIED 1700 0
0 0 0
0 0
MISC MANUF 07-02 07-02 NET 30 3000
3000 100 0 0
0 0
PACKAGING
07-06 00-00 NET 30 0 0
0 0 0
0 0 CUST
3 YR
PAPER DIST 07-06 07-06 NET 10 4500
1500 38 62 0 0
0 CUST 11 YR
PAPER DIST 07-06 07-05 NET 30 104000
7300 100 0 0
0 0 CUST
2 YR
SAFTY PROD 07-05 00-00 NET 30 100
0 0 0
0 0 0
AIR TRANS
06-11 00-00 NET 30 100 0
0 0 0
0 0 CUST
2 YR
BLDG MATRL 07-01 00-00 CREDIT 5000
2300 100 0 0
0 0
BUS SERVCS 06-06 06-06 NET 30 0
0 0 0
0 0 0
ELEC SUPLR 04-08 03-09 2/10N30 0 0
0 0 0
0 0
FACTOR
06-12 06-10 NET 30 1200 0
0 0 0
0 0
FOOD DISTR 06-08 00-00 NET 30 100
100 100 0 0
0 0
FOOD DISTR 07-01 07-01 NET 30 19500
100 100 0 0
0 0
LEASING
04-10 00-00 VARIED 13200 13200
0 100 0 0 0
LEASING
05-09 00-00 CONTRCT 4000
0 0 0
0 0 0
MOTR TRANS 05-12 05-01 NET 30 1900
0 0 0
0 0 0
PACKAGING
04-10 00-00 NET 30 0 0
0 0 0
0 0
PAINTS
04-06 00-00 VARIED 0 0
0 0 0
0 0
SOAP
06-04 00-00 2/10N30 3600
3600 100 0 0
0 0
TRANSPORTN 05-12 00-00 NET 15 0
0 0 0
0 0 0
ACCTCLOSED
TRUCK DLR
06-07 00-00 CONTRCT 2200
0 0 0
0 0 0
CURRENT QUARTER 137500 13400
93 7 0
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
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--- --- --- -------- --- --- --- --- ---
20070600
0 6 0 12000 100 0
0 0 0
20070500
0 6 0 43000 100 0
0 0 0
20070400
0 11 0 40900 97
3 0 0 0
20070300
0 12 0 8700 99
1 0 0 0
20070200
0 12 0 7700 99
1 0 0 0
20070100
0 6 0 44400 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE
CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2007 0 17100 97
3 0 0 0
Fourth
2006 6 30500 57
43 0 0 0
Third
2006 0 44800 100 0
0 0 0
Second
2006 5 39900 68
32 0 0 0
First
2006 6 57800 65
31 4 0 0
FINANCIAL INFORMATION
Outside sources consulted estimate gross annual sales to exceed $18.2 million. This could not be confirmed with management.
CURRENT OPERATIONS
NAICS Code : 311 Food Manufacturing
Number of Employees : 90
Business Activity :
The Subject is a family owned and operated manufacturer of Indian cuisine.
The Company manufactures and markets dry, fresh, and frozen Indian food products, as well as Thai and Chinese entrees. The Subject's offerings are sold under labels such as:
-Bansi
-Bhagwati's
-Mirch Masala
-Reena's
-Tandoor Chef
-Udupi
range from appetizers and meals to delicacies and desserts.
The heading address is the headquarters for the Company.
Divisions:
Deep Foods,
6690 Goreway Dr.Unit#B
(905)694-9550
PUBLIC RECORD
Name Searched : DEEP FOODS INC.
Debtor Address : DEEP
Secured Parties : ALLFIRST BANK
Filing Date :
Filing Number : 2013886
Filing Type : INITIAL FILING
-----------------------------------------------------------------------------
Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS INC.
Secured Parties : ALLFIRST BANK
Filing Date :
Filing Number : 2013883
Filing Type : INITIAL FILING
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS, INC.
Secured Parties : FIRST UNION NATIONAL BANK F/K/A
MERIDIAN BANK NEW
Filing Date :
Filing Number : 1675316
Filing Type : TERMINATION
Original Filing
Number : 1675316
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS, INC.
Secured Parties : MELLON LEASING
Filing Date :
Filing Number : 2026161
Filing Type : INITIAL FILING
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS, INC.
Secured Parties : MELLON LEASING
Filing Date :
Filing Number : 2026161
Filing Type : TERMINATION
Original Filing
Number : 2026161
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS, INC. 1090
Secured Parties : FIRST UNION NATIONAL BANK FKA
CORESTATES BANK, NA FKA NEW
Filing Date :
Filing Number : 1677910
Filing Type : CONTINUATION
Original Filing
Number : 1677910
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS INC.
Secured Parties : MANUFACTURERS AND TRADERS TRUST
COMPANY
Filing Date :
Filing Number : 22239426
Filing Type : INITIAL FILING
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS, INC.
Secured Parties : WACHOVIA BANK NATIONAL
ASSOCIATION, FORMERLY KNOWN AS FIRST
UNION NATIONAL BANK
Filing Date :
Filing Number : 1923009
Filing Type : CONTINUATION
Original Filing
Number : 1923009
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Name Searched : DEEP FOODS INC.
Case Type : PERS INJUR
Date :
Defendant : DEEP FOODS INC
Filing Type : CIVIL SUIT
Number : 98CV3459
Plaintiff Counsel : NEIL E DURKIN
Plaintiff : JOSEPH COUGHLAN CAROL
COUGHLAN
Status : OPEN
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Name Searched : DEEP FOODS INC.
Amount : $ 2,514.12
Case Type : CONTRACT
Creditor : DEEP FOODS , INC.
Date :
Debtor Address : VRAJ GROCERY
438 RT 206 S
SITA CHETNANI
438 RT 206 S
VRAJ GROCERIES
438 RT 206 S
Debtors : VRAJ GROCERY, AND SITA
CHETNANI VRAJ GROCERIES
Filing Type : JUDGMENT
Number : DC-2823-94
Status : OPEN
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Name Searched : DEEP FOODS INC.
Amount : $ 2,271
Case Type : CONTRACT
Date :
Defendant : DEEP FOODS, INC. DAVID
AMIN BHAGWATI AMIN
Filing Type : CIVIL SUIT
Number : S0700005591
Plaintiff Counsel : ARTHUR L. NUDELMAN
Plaintiff : CONTINENTAL INSURANCE
COMPANY
Status : OPEN
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Name Searched : DEEP FOODS INC.
Case Type : CONTRACT-EMPLOYMENT
Date :
Defendant : DOES CORP/IND PRAVIN AMIN
DEEP FOODS INC
Filing Type : CIVIL SUIT
Number : L 000858 03
Plaintiff Counsel : WYSOKER GLASSNER WEINGARTNER
LICENSE NO : 7325453231
Plaintiff : LINDA SINGH HARMINDER
SINGH
Status : OPEN
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Name Searched : DEEP FOODS INC.
Case Type : PROD LIABL
Date :
Defendant : DEEP FOODS INC FINEX
SIEVES PVT LTD
Filing Type : CIVIL SUIT
Number : L 003130 00
Plaintiff Counsel : GINARTE ODWYER WINOGRAD
LICENSE NO : 9736434666
Plaintiff : EDIBERTO CARPIO
Status : OPEN
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS,
Secured Parties : FIRST UNION NATIONAL BANK FKA
CORESTATES BANK NA FKA NEW
NAT'L BANK FKA CHERRY HILL NAT'L BANK
Filing Date :
Filing Number : 1675316
Filing Type : CONTINUATION
Original Filing
Number : 1675316
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS INC.
Secured Parties : ALLFIRST BANK
Filing Date :
Filing Number : 2022926
Filing Type : INITIAL FILING
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Name Searched : DEEP FOODS INC.
Debtor Address : DEEP FOODS,
Secured Parties : FIRST UNION NATIONAL BANK F/K/A
MERIDIAN BANK NEW
There were 5 legal filings found against the Subject, howvever they appear to be unsubstantial. A search of bankruptcy courts revealed no record of a Company by this name filing for bankruptcy.
GENERAL COMMENTS
The Subject is a family owned and operatted manufacturer of Indiancuisine. The Company appears to be a well established, founded in 1977.
There were 5 legal filings found against the Subject, however the outcome of these legal claims is not expected to have a material adverse effect on the
Corporation's business, financial condition or results of operations. Thus, the 7company is considered 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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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%)