MIRA
INFORM REPORT
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Report Date : |
07.07.2007 |
IDENTIFICATION DETAILS
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Name : |
CAPSCANADA
CORPORATION |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11/05/2001 |
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Legal Form : |
Federally
Chartered Corp. – Private |
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Line of Business : |
Manufactures
two-piece hard gelatin capsules used by the pharmaceutical and health nutrition
industries. |
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
Company Name: CAPSCANADA
CORPORATION
Address:
City: TECUMSEH
State/Province:
Zip Code: N8N
4Y3
Country:
Telephone: 519
727-4618
Facsimile: 519
727-4619
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
72
Legal Form: Federally
Chartered Corp. - Private
Website: www.capscanadacorp.com
Maj.
Shareholder: Farmacapsulas
Business Activity: The Company manufactures two-piece hard
gelatin capsules used by the pharmaceutical
and health
nutrition industries.
NOTE TO CLIENT
Ms. Bonnie Delmore,
Accountant, provided the following information contained in this report.
LEGAL
Legal Form: Federally
Chartered Corp. - Private
Since (D/M/Y): 11/05/2001
State/Province of
Incorporation: ON
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Subject is a
federally chartered Canadian company incorporated on May 11, 2001, under file
number 001479637 and is listed as active.
Managers/Key
Personnel
Mr. Dale Martin President
Ms. Bonnie
Delmore Accountant
OWNERS
Farmacapsulas % Unspecified
AFFILIATED ENTITIES
There are no
affiliated companies.
Parent Companies
Parent Company: Farmacapsulas
FL
UNITED STATES
BANKS
Bank of
Telephone:
Facsimile:
Account Number:
Account Manager:
Bank requires signed
authorization.
PAYMENT HISTORY
TRADE ITEMS
------------------------------------------------------------------------------
Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing
$ 1st 2nd
3rd
------------------------------------------------------------------------------
Whlsl-Professnl Equp:
*Jul 0 530 530
231 299 0
0
Wholesale-Elec Equip:
*Jul 0 762 762
0 762 0
0
CITI COMMERCE SOLUTI: 800-233-8619 DLA-2007/05/29 589 #
*Jul Jan/2002
1,500 624 589
589 0 0
0
Mfr-Paper Box:
*Jul 0 20,696 20,696
20,696 0 0
0
Transportation Serv: Merged accts
*Jun 0 695 695
552 143 0
0
Transportation Serv:
*Jun 0 1,266 1,266
1,266 0 0
0
Whlsl-Ind Mach Sppls:
*Jun 0 117 117
0 117 0
0
Wholesale-Mens Wear:
*Jun 0 742 742
742 0 0
0
Whlsl-Farm Supplies:
*Jun 0 2,293 2,293
2,293 0 0
0
Transportation Serv:
*Jun 0 1,767 1,767
735 1,032 0
0
Mfr-Beverage:
*Jun 0 169 159
159 0
0 0
Whlsl-Industrl Paper:
*Jun 0 113 113
0 113 0
0
Whlsl-Electronic Pts:
*May 0 5,000 297
297 0 0
0
Whlsl-Durable Goods:
*May 0 833 833
579 254 0
0
Wholesale-Elec Equip:
*May 0 493 430
430 0 0
0
Business Services:
*Apr 0 21,349 19,160
19,160 0 0
0
Whlsl-Ind Mach Sppls:
*Apr 0 328 328
170 158 0
0
Whlsl-Ind Mach Sppls:
*Apr 0 639 639
216 423 0
0
------- ------- ------- -------
------- -------
P.I. =
2 90 Days 58,416
51,416 48,115 3,301
0 0
Reported ------- ------- ------- ------- -------
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VIPOND FIRE PROTECTI: 905-564-7060
*Mar 0 3,959 765
765 0 0
0
Trucking (APTA):
*Feb 0 6,984 6,984
3,801 3,183 0
0
Whlsl-Electronic Pts:
*Feb 0 2,000 1,368
1,368 0 0
0
Mfr-Industrial Mach:
*Nov 0 377 377
0 377 0
0
Business Services:
*Sep
5,000 583 583
583 0 0
0
Wholesale-Elec Equip:
*Aug 0 3,330 3,330
460 2,870 0
0
------- -------
------- ------- ------- -------
P.I. =
5 Total 75,649
64,823 55,092 9,731
0 0
Reported
------- ------- ------- ------- ------- -------
PAYMENT TRENDS
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Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
------------------------------------------------------------------------------
2 Qtr/2007
2 8 18
51,023 48,638 2,385
0 0
1 Qtr/2007
11 4 17
58,053 39,005 19,048
0 0
4 Qtr/2006
17 4 15
67,136 33,764 31,630
1,742 0
3 Qtr/2006
20 4 14
65,498 27,943 34,878
2,677 0
2 Qtr/2006
1 4 14
48,093 46,765 1,328
0 0
1 Qtr/2006
5 14 15
53,842 46,574 6,487
761 20
4 Qtr/2005
48 13 15
61,427 24,375 10,849
287 25,916
3 Qtr/2005
19 6 20
82,120 34,292 47,628
190 10
2 Qtr/2005
11 6 12
35,967 24,516 11,437
14 0
FINANCIAL INFORMATION
We were unable to
obtain any financial information from the Company. Outside sources could provide no additional
insight into the financial condition of the Subject.
CURRENT OPERATIONS
NAICS Code: 325412
Pharmaceutical Preparation
Manufacturing
SIC Code: 2835
Number of Employees
: 72
Business Activity:
The Company manufactures
two-piece hard gelatin capsules used by the pharmaceutical and health nutrition
industries. The Company's sole location
is at the above address. The premises
consist of office, warehouse, and manufacturing space. We were unable to determine if the premises
are owned or leased or the size of the facility.
There are no
divisions or subsidiaries.
PUBLIC RECORD
A Nationwide search
of public and bankruptcy courts revealed no Uniform Commercial Codes, tax liens,
legal actions or bankruptcy filings under the Subject's name.
GENERAL COMMENTS
An established
Company, the Subject is engaged as a manufacturer of two-piece hard gelatin
capsules used by the pharmaceutical and health nutrition industries. Payment
records are considered to be generally satisfactory and a search of public
records and bankruptcy courts returned no derogatory information or record of
the Company filing a bankruptcy petition.
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%)