MIRA
INFORM REPORT
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Report Date : |
14.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SANDBAR INTERNATIONAL CORP |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21/05/2002 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacture and Retail of Leather Handbags |
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 : |
Slow but Correct |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name : SANDBAR
INTERNATIONAL CORP.
Address :
City :
State/Province :
Zip Code :
33445
Country :
UNITED STATES
Telephone : 561
278-8825
Facsimile :
561 278-8827
Legal Form :
Private Company
Website : www.sandbarcorp.com
As of :
31/12/2006
Sales / Revenue : 1,000,000
Net Income : --
Total Equity : --
Number of Employees : 3
Business Activity : The Subjects is engaged in the manufacture
and retail of leather handbags. The
Company features " Totes" products. In addition to its reail sales, the
Subject also
provides repair services for leather
NOTE TO CLIENT
Person Contacted: Mr. Bill Monroy, President.
Mr. Monroy verified all the information in this report. He agreed to a
written request for additional information to send via facsimile. If, he
responds to our inquiries at a later time, this report will be appropriately
amended.
LEGAL
Legal Form :
Private Company
Since (D/M/Y) :
21/05/2002
State/Province of Incorporation :
FL
Status :
ACTIVE
Previous Legal Form :
Company is NOT required to publish an annual financial report.
Florida Profit Corporation
SANDBAR INTERNATIONAL CORPORATION
Filing Information
Document Number P02000056600
FEI Number 900059588
Date Filed 05/21/2002
Status ACTIVE
Effective Date NONE
Principal Address
Changed 04/27/2005
Mailing Address
Changed 04/27/2005
Registered Agent Name & Address
MONROY, GUILLERMO E
Address Changed: 04/27/2005
Officer/Director Detail
Annual Reports
Report Year Filed Date
2005 04/27/2005
2006 04/27/2006
2007 04/26/2007
Managers/Key
Personnel
Mr. Bill Monroy
President
Mr. Kelly Taggart
Vice President
AFFILIATED ENTITIES
There are no affiliated companies, businesses, divisions or
subsidiaries.
BANKS
Telephone:
Facsimile:
Account Number:
Account Manager:
The name of the primary bank was declined by management. BANKUNITED, FSB
is mentioned as a secured party for financing.
PAYMENT HISTORY
BUSINESS DATE
LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-03 07-02 0000000 2600
1700 27 5
4 22 42 CUST 2 YR
FRGHT FWRD 07-06 07-06 NET 30 2300
2300 100 0 0
0 0
PACKAGING
07-06 00-00 NET 30 900 400
0 100 0 0
0 CUST 4 YR
AIR TRANS
06-11 00-00 NET 30 200 0
0 0 0
0 0 CUST
3 YR
BUS SERVCS 07-02 07-02 NET 30 0
0 0 0 0 0 0
FACTOR
07-02 06-03 NET 90 400 0
0 0 0
0 0
CURRENT QUARTER 3500 2100
23 21 3
18 35
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
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--- --- --- -------- --- --- --- --- ---
20070600
0 6 52 2100 40
4 3 18 35
20070500
0 7 57
2000 32 4 9 19 36
20070400
0 6 47 2600 30
18 9 15 28
20070300
0 7 13 3500 21
74 5 0 0
20070200
0 7 13 3500 21
74 5 0 0
20070100
0 6 11 3200 26
74 0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 54 2100 32
10 5 18 35
First
2007 23 3200 23
59 6 4 8
Fourth
2006 7 2300 54
45 1 0 0
Third
2006 7 1700 54
46 0 0 0
Second
2006 17 1600 55
12 33 0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2006 31/12/2006 31/12/2006
Consolidated
Sales / Revenues 1,000,000 - -
Mr. Monroy imformed us that the Company generates annual sales of approximately US$1. million. The Company was forwarded a fax requesting addition financial information. Currently we have not received a response.
The above sales figure is reported to be " consolidated" , however should be viewed as individual for just the Subject.
CURRENT OPERATIONS
NAICS Code: 44832
Luggage and Leather Goods Stores
SIC Code: 5948
NAICS Code: 811
Repair and Maintenance
Number of Employees: 3
Business Activity
The Subjects is engaged in the manufacture and retail of leather
handbags. The Company features " Totes" products. In addition to its reail sales, the
Subject also provides repair services for leather The heading address is the
Company's headquarters and sole location with 3,000 square feet of rented space
where it oversees day-to-day operations.
PUBLIC RECORD
Name Searched : SANDBAR
INTERNATIONAL CORP.
Debtor Address :
SANDBAR INTERNATIONAL CORPORATION
1499 SW 30 AVENUE
Secured Parties :
BANKUNITED, FSB
Filing Date : 10/12/2004
Filing Number : 200408068203
Filing Type : INITIAL FILING
Legal indicate no litigation taken against the Subject. No bankruptcy
petitions were filed under the Subject's name.
GENERAL COMMENTS
Sandbar International Corp. was incorporated in 2002. The company
manufactures its leather products, is a retailer of " Totes" products and provides repair of leather
goods. The payment record reflects some slownes. 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%)