MIRA INFORM REPORT

 

 

Report Date :

11.07.2007

 

IDENTIFICATION DETAILS

 

Name :

WASATCH CO.

 

 

Registered Office :

11000 Wright Road, Lynwood, California - 90262                       

 

 

Country :

United States                

 

 

Date of Incorporation :

06/01/2003

 

 

Legal Form :

Private Company

 

 

Line of Business :

Engaged in the wholesale and manufacturer of textile products.

 

 

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:            WASATCH CO.

Address:                       11000 WRIGHT ROAD

City:                             LYNWOOD

State/Province:              CALIFORNIA                           

Zip Code:                      90262                       

Country:                                    UNITED STATES               

Telephone:                    310 637-6160                

Facsimile:                     310 637-7346                   

As of:

Sales / Revenue:

Net Income:

Total Equity:

Number of Employees:   25

Legal Form:                   Private Company

Website:                       www.wasatchtcorp.com

Business Activity:          The Company is engaged in the wholesale and manufacturer of textile products.

 

 

NOTE TO CLIENT

 

Please note that several detailed messages were left via telephone for Mr. Abdul Wahab, President of the company.  Some of the Company's information was verified by a Sales Representative named Emilia.  In addition a written request for general information was sent via facsimile. If the Company responds to our inquiries at a later time, this report will be appropriately amended.

 

 

LEGAL

 

Legal Form:                               Private Company   

Since (D/M/Y):                           06/01/2003

State/Province of Incorporation:   CA

Status:                                                  ACTIVE

Previous Legal Form:

 

Company is NOT required to publish an annual financial report.

 

California Registration:

 

WASATCH CO.

Number:            C2491729

Date Filed:        1/6/2003

Status:              Active

Jurisdiction:       California

 

Address

14712 KENSIGNTON LANE

WESTMINSTER, CA 92683

 

Agent for Service of Process

ABDUL WAHAB

14712 KENSIGNTON LANE

WESTMINSTER, CA 92683

 

Managers/Key Personnel

 

Mr. Abdul Wahab                        President

 

 

AFFILIATED ENTITIES

 

There are no affiliates, divisions or subsidiaries

 

 

BANKS

 

CA

Telephone:

Facsimile:

Account Number:

Account Manager:

 

The name of the primary bank could not be obtain either from management or from outside sources.

 

 

PAYMENT HISTORY

 

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

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

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

 FINCL SVCS 07-06 07-05 CONTRCT 0        0        0   0   0   0   0   SATSFTRY

 PACKAGING  07-06 05-10 NET 30  0        0        0   0   0   0   0   CUST  5 YR

 

 TELECOM    07-06 00-00 NET 30  200      100      100 0   0   0   0

 AIR TRANS  05-03 05-02         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

 LEASING    06-10 00-00 CONTRCT 100      0        0   0   0   0   0

 OFFC SUPPL 07-01 99-10 CREDIT  1500     0        0   0   0   0   0

 TELECOM    06-06 00-00 NET 30  100      100      100 0   0   0   0

 TRANSPORTN 06-07 00-00 NET 15  0        0        0   0   0   0   0   ACCTCLOSED

 CURRENT QUARTER                200      100      100 0   0   0   0

 

 Payment Trends

            INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

 DATE      CUR    DBT       DBT             $      %  30  60  90  91+

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

 20070600  0      6         0            100      100 0   0   0   0

 20070500  0      7         0            100      100 0   0   0   0

 20070400  0      6         0            100      100 0   0   0   0

 20070300  0      7         0            100      100 0   0   0   0

 20070200  0      7         0            100      100 0   0   0   0

 20070100  0      6         0            100      100 0   0   0   0

 

 Payment History - Quarterly Averages

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

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

 Second   2007              0            100      100 0   0   0   0

 First    2007              0            100      100 0   0   0   0

 Fourth   2006              0            100      100 0   0   0   0

 Third    2006              0            100      100 0   0   0   0

 Second   2006              0            100      100 0   0   0   0

 

 

FINANCIAL INFORMATION

 

We could not obtain financial information from management, however outside sources indicate a estimated annual sales of US$9.49 million dollars.  A written request for financial information was faxed to the company.  If any respond, the report will be amended immediately.

 

 

CURRENT OPERATIONS

 

NAICS Code:   812331    Linen Supply

SIC Code:     7213

 

Number of Employees : 25  

 

Business Activity:

The Company is engaged in the wholesale and manufacturer of textile products.  WASATCH is a large distributor of bath and table linen products. The Company distributes and manufactures textiles for various industries including Institutional, hospitality, food service, and health care.

 

There are no branch locations or divisions. The heading address is the Company's headquarters and sole location where it oversees day-to-day operations.

 

 

PUBLIC RECORD

 

Name Searched: WASATCH IMPORT CO.

Case Name: GARCIA GLORIA v. HAROON FRED, et al

Case Type: CIVIL

Civil Case Number: BC 262424

Filing Date: 11/27/2001

 

Secured Party: PLAINTIFF DEFENDANT COMMENT

GARCIA GLORIA HAROON FRED

GARCIA GLORIA HAROON YOUSUF

GARCIA GLORIA WASATCH IMPORT CO

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

We have also conducted a nationwide search with bankruptcy courts, which revealed no record of a firm by this name filing for bankruptcy.

 

 

 

 

 

GENERAL COMMENTS

 

Wasatch Company incorporated in 2003 in the state of California. Also doing business as Wasatch Import is engaged as a wholesale of linen products. Payment are satisfactory and a search of public records returned one legal action against the Firm, the status is uncertain as no further information is currently available. The Subject is considered generally reliable for normal trade relations.

 

 

 

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