MIRA
INFORM REPORT
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Report Date : |
07.07.2007 |
IDENTIFICATION DETAILS
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Name : |
Infosat
Communications |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1986 |
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Legal Form : |
Federally
Chartered Corp. – Private |
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Line of Business : |
Designs and
integrates wireless global communication systems. |
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: Infosat
Communications
Address:
City: Coquitlam
State/Province:
Zip Code: V3K
6X9
Country:
Telephone: 604
524-3038
Facsimile: 604
524-6067
Founded
(D/M/Y): / /1986
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
120
Legal Form: Federally
Chartered Corp. - Private
Website: www.infosat.com
Business Activity: The Subject designs and integrates
wireless global communication systems.
NOTE TO CLIENT
Person Contacted:
Sherry McKinnon, Credit Manager
Ms. McKinnon
provided very general information for this report, however deferred all other
information to a written request. Please note that we did send a written
request to her attention via facsimile. An update will be provided accordingly
should we receive a response at a later time.
Some information in
this report was obtained from outside sources and could not be confirmed.
LEGAL
Legal Form: Federally
Chartered Corp. - Private
Since (D/M/Y): 05/09/1995
State/Province of
Incorporation:
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
Current Entity Name:
INFOSAT COMMUNICATIONS, INC.
Initial Filing Date:
Sept. 5, 1995
Jurisdiction:
Entity Type: Federal
Corporation
Status: Active
File Number:
001287881
Previous Name: NAV
COMMUNICATIONS, INC.
Managers/Key
Personnel
Mr. Carey
Healey President & CEO
Mr. Roland C.
Sartorius Chief Financial Officer
Mr. Graeme
Watson Senior Vice President
Mr. Dale Gamber Vice President - Marketing
Mr. Ed Mallet General Manager
Mr. Alan Crabbe 2nd General Manager
AFFILIATED ENTITIES
Some of the
Subject's affiliates are listed below:
-Communications
Group Red Deer Ltd.
-Expert Mobile
Communications, Ltd.
-CP/HP Communication
-Quinsam
Communications Group
-Ralph's Radio Ltd.
-Signal Systems
-Sun-West Cellular
Products Inc.
-Teleco Supply Co.
Ltd
-CasCom
-Northern Avcom Ltd.
-Total North
Communications
-Beyond Wireless
-Excell Communications
-First Comm Inc.
-Action Telecom
-Cellulaire Chic
-Communications 1er
Choix Inc.
-Sensé Communication
Inc.
UNITED STATES:
-Amerizon Wireless
-BlueCosmo
Communications
-Satwest, LLC
Parent Companies
Parent Company: Telesat
Subsidiaries:
-Quick Link
Communications (QLC)
-ACA Security and
Audio Visual
-Able Communications
-Comstar ISA Ltc. (
BANKS
BANK OF
COQUITLAM BC V3K3N9
Telephone: (604)
933-1850
Facsimile: (604)
936-0880
Account Number:
Account Manager:
The bank only
provides information to other banking facilities.
PAYMENT HISTORY
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
Retail-Establishment:
*Jul 0 20,000 2,494
1,672 822 0
0
Wholesale-Elec Equip:
*Jul 0 11,958
6,645 179 4,887
0 1,579
CITI COMMERCE SOLUTI: 800-233-8619 Net 30 Days #
*Jul 0 0 0
0 0 0
0
Transportation Serv: Merged accts
*Jun 0 164 164
78 86 0
0
Transportation Serv: Merged accts
*Jun 0 10,679 10,679
10,679 0 0
0
Trucking: Merged accts
*Jun 0 2,500
2,500 1,451 1,049
0 0
Services-Employment:
*May 0 5,724 5,724
5,724 0 0
0
Services-Employment:
*May 0 2,000 161
0 161 0
0
Transportation Serv:
*Apr 0 111 111
111 0 0
0
Utility Systems:
*Apr 0 7,952 7,952
0 7,952 0
0
Whlsl-Electronic Pts:
*Apr 0 3,310
2,249 2,249 0
0 0
------- -------
------- ------- ------- -------
P.I. =
17 90 Days 64,398
38,679 22,143 14,957
0 1,579
Reported ------- ------- ------- ------- -------
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Wholesale-Elec Appls:
*Feb 0 504 249
249 0 0
0
DE LAGE LANDEN FIN: 905-465-3160
*Dec 0 25,834 527
527 0 0
0
ECS: 604-276-9913
*Oct 0 38,067 38,067
38,067 0 0
0
Wholesale-Elec Equip:
*Aug 0 6,532 6,532
6,532 0 0
0
------- -------
------- ------- ------- -------
P.I. =
8 Total 135K
84,054 67,518 14,957
0 1,579
Reported ------- ------- ------- ------- -------
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PAYMENT TRENDS
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Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
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2 Qtr/2007
11 5 11
38,032 27,205 9,248
1,579 0
1 Qtr/2007
7 10 7
11,692 9,284 2,408
0 0
4 Qtr/2006
2 14 11
60,562 58,204 1,145
1,213 0
3 Qtr/2006
5 17 9
21,047 18,200 2,772
0 75
2 Qtr/2006
17 15 11
46,195 30,918 7,089
7,891 297
1 Qtr/2006
30 22 10
93,029 34,265 46,351
403 12,010
4 Qtr/2005
36 34 9
37,951 23,236 1,325
0 13,390
3 Qtr/2005
42 23 9
34,839 17,241 4,191
0 13,407
2 Qtr/2005
34 20 9
64,497 21,574 31,636
0 11,287
FINANCIAL INFORMATION
The Company was
forwarded a fax requesting financial information. Currently we have not
received a response. Outside sources consulted failed to add any insight into
the condition of the Firm.
CURRENT OPERATIONS
NAICS Code: 5133
Telecommunications
Number of
Employees: 120
Business Activity:
The Subject designs
and integrates wireless global communication systems.
The Firm offers a
comprehensive range of fixed, mobile and transportable wireless communication
systems. Services are provided over land, marine, or aviation from permanent
sites to temporary camps, vessels to vehicles.
The Subject's
clients include:
-resource companies
-network operators
-engineering
-procurement and
construction (EPC)
-government agencies
Several offices are
listed below:
Infosat
Communications -
3140-114 Avenue, SE
Phone: 403-543-8188
Fax: 403-289-8133
Infosat
Communications -
9738 -
Phone: 780-434-7564
Fax: 780-435-2109
Infosat
Communications -
1200 Avenue
Papineau,
Phone: 514-523-3003
Fax: 514-523-2991
ABLE Infosat
Communications –
Shop Address:
Phone: 281-485-8800
Fax: 281-485-8230
Web:
www.ableinfosat.com
PUBLIC RECORD
Statement
of Claim:
Defendant INFOSAT COMMUNICATIONS INC Date Mar 14, 2005
Plaintiff SMITH CONSTRUCTION &
Amount 9,578
Reason Claims File # SMC6000
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Statement
of Claim:
Defendant INFOSAT COMMUNICATIONS INC Date May 16, 2003
Plaintiff
Amount 1,034
Reason Contract File # SMC4274
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A search of
bankruptcy courts revealed no record of a Company by this name filing for
bankruptcy.
GENERAL COMMENTS
The Subject designs
and integrates wireless global communication systems. The Firm appears to be a
well established, operating since 1986.
There were some
legal filings found against the Firm, the status is uncertain as no further
information is currently available. The outcome of these legal proceedings and
claims is not expected to have a material adverse effect on the Corporation's
business, financial condition or results of operations.
The Payment history appears
satisfactory. Thus, the Company 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%)