MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ECARPET GALLERY
INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21/12/2000 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Retails persian
and oriental rugs and other floor covering materials through its own website as
well as through Internet auction websites. |
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: ECARPET
GALLERY INC.
Trade Name(s): ETAPIS
GALERIE INC.
(French Version)
Address: 257
RUE
City:
State/Province:
Zip Code: H4C
2S6
Country:
Telephone: 514-272-8000
Facsimile: 514-272-7674
Founded
(D/M/Y): /01/1999
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
5
Legal Form: Corporation
- Private
Website: www.ecarpetgallery.com
Business Activity: The Subject retails persian and
oriental rugs and other floor covering materials through
its own
website as well as through Internet auction websites.
NOTE TO CLIENT
We contacted the
Company and spoke to Mr. Emmanuel Torabi, President, who provided information
about the company.
Please note that we
did send a written request to Mr. Torabi's attention via facsimile. An update
will be provided accordingly should we receive a response at a later time.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 21/12/2000
State/Province of
Incorporation:
Status: ACTIVE
Previous Legal
Form: Unknown
Company is NOT
required to publish an annual financial report.
The Subject is
incorporated in the
File Number:
1149792872
Incorp Date:
12/21/2000
Province:
Employees: 1-5
Registered Address:
257, RUE SAINT-FERDINAND
President: Emmanuel
Torabi
French Name: ETAPIS GALERIE INC.
English Name:
ECARPET GALLERY INC.
Managers/Key
Personnel
Mr. Emmanuel
Torabi President & CEO
Mr. Saeed
Torabi Plant Manager
AFFILIATED ENTITIES
As far as could be
determined, there are no known affiliates or subsidiaries.
BANKS
The Bank of
Ste. Maries PQ
Telephone:
418-691-2600
Facsimile:
418-522-7809
Account Number:
Account Manager:
We have contacted
the above-mentioned bank which has not responded yet. In the event a response
is received, we will update the information immediately.
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
------------------------------------------------------------------------------
Transportation Serv: Merged accts
*Jul 0 404 404
33 371 0
0
Transportation Serv:
*Jul 0 6,920 6,920
5,927 0
993 0
------- -------
------- ------- ------- -------
P.I. =
11 90 Days 7,324
7,324 5,960 371
993 0
Reported ------- ------- ------- ------- ------- -------
------- -------
------- ------- ------- -------
P.I. =
11 Total 7,324
7,324 5,960 371
993 0
Reported ------- ------- ------- ------- -------
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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
6 14 2
7,097 5,733 1,364
0 0
1 Qtr/2007
1 14 2
5,921 5,676 245
0 0
4 Qtr/2006
14 26 2
6,776 4,953 1,065
445 313
3 Qtr/2006
10 30 2
48,005 34,272 13,733
0 0
2 Qtr/2006
9 24 2
52,437 38,935 13,502
0 0
1 Qtr/2006
19 30 1
56,702 30,057 20,210
6,435 0
4 Qtr/2005
67 41 1
82 0 0
82 0
3 Qtr/2005
NA 31 0 0 0 0
0 0
2 Qtr/2005
NA 37 0 0 0 0
0 0
FINANCIAL INFORMATION
The Company was
forwarded a fax requesting financial information. Currently we have not
received a response.
According to Mr.
Emmanuel Torabi, President, the Subject has annual sales of $6 million CAN
dollars.
CURRENT OPERATIONS
NAICS Code: 44221
Floor Covering Stores
SIC Code: 5023
Number of Employees
: 5
Business Activity:
The Subject retails
persian and oriental rugs and other floor covering materials through its own
website as well as through Internet auction websites.
The Subject's inventory
consists of around 10,000 items that are imported from the following countries:
As far can be
determined the heading address is the sole location for the Company's head
office and warehouse. The Subject owns the 136,000 sq. ft. facility.
PUBLIC RECORD
A search of public
revealed the following civil action against the Subject:
Writ
of Summons:
Defendant ECARPET GALLERY INC Date Feb 11, 2005
Plaintiff
Amount 5,195 Location
Reason Goods Sold & Delivered File # 008982059
The
current status of the civil action could not be determined at this time.
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A search of
bankruptcy courts revealed no record of the Subject filing for bankruptcy.
GENERAL COMMENTS
The Subject retails Persian
and Oriental rugs and other floor covering materials through the Internet since
2000. Public records reveal that the Subject has never filed for bankruptcy,
however, there was one civil action against the Subject. The current status of
the civil action could not be determined at this time. The Subject has a brief
and satisfactory payment record.
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%)