MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
COTTON CONNECTION,
INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1987 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Wholesaler of
active wear. |
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: COTTON
CONNECTION, INC.
Address:
City:
State/Province:
Zip Code: 60640
Country: UNITED
STATES
Telephone: 773-506-0505
Facsimile: 773-506-0574
Founded
(D/M/Y): / /1987
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
23
Legal Form: Corporation
- Private
Website: www.cottonconnection.com
Business Activity: The Subject is a wholesaler of active
wear in the Chicago-area and the
the
NOTE TO CLIENT
We contacted the
company and spoke to a representative (no name or title provided) who adamantly
declined to provide any information about the company. Therefore information in
this report could not be confirmed by management.
Please note that we
did send a written request to the Company'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): 24/12/1991
State/Province of
Incorporation: IL
Status: ACTIVE
Previous Legal
Form: Unknown
Company is NOT
required to publish an annual financial report.
The Subject is
incorporated in the state of
Entity Name COTTON CONNECTION, INC.
File Number 56653112
Status GOODSTANDING
Entity Type
CORPORATION
Type of Corp
DOMESTIC BCA
Incorporation Date
(Domestic) 12/24/1991
State
Agent Name IQBAL
KOTHAWALA
Agent Change Date 01/24/1996
Agent Street Address
4735
Duration Date
PERPETUAL
Annual Report Filing
Date 12/21/2006
For Year 2006
Managers/Key
Personnel
Mr. Abdul
Maniya President
Mr. Mohammed
Kothawala Secretary
AFFILIATED ENTITIES
As far as could be
determined, there are no known affiliates or subsidiaries.
BANKS
IL
Telephone:
Facsimile:
Account Number:
Account Manager:
We could not obtain
any banking information.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
FACTOR
07-03 00-00 VARIED 0 0
0 0 0
0 0
FINCL SVCS 07-07 07-06 NET 30 600
200 7 93
0 0 0
PRNTG& PUBL 07-05 00-00 VARIED 0
0 0 0
0 0 0
WAREHOUSE
07-05 07-02 VARIED 100 0
0 0 0
0 0 CUST
2 YR
WAREHOUSE
07-06 07-04 VARIED 100 0
0 0 0
0 0 CUST
4 YR
AIR TRANS
05-08 05-07 100 0
0 0 0
0 0
AIR TRANS
06-11 00-00 NET 30 2200 2200
35 31 22
0 12 COLLECTION
APRL MENS
06-06 03-05 NET 30 92900 1900
0 0
0 100 0
COMPUTERS
07-01 02-03 CREDIT 7500 0
0 0 0
0 0
CONST MACH 06-09 00-00 NET 30 0
0 0 0
0 0 0
CUST 6 YR
CRED CARD
07-06 00-00 REVOLVE 0
0 0 0
0 0 0
CUST 6 YR
FINCL SVCS 05-01 04-08 CONTRCT 0 0
0 0 0 0 0
SATSFTRY
LEASING
07-07 00-00 NET 30 500 0
0 0 0
0 0
LEASING
05-01 05-01 NOTE 28400 25100
100 0 0 0 0
TELECOM
05-06 00-00 NET 30 0 0
0 0
0 0 0
TRANSPORTN 05-07 00-00 NET 15 0
0 0 0
0 0 0
ACCTCLOSED
TRUCK DLR
05-06 00-00 CONTRCT 2200
2200 100 0 0
0 0
CURRENT QUARTER 800 200
7 93 0
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070700
0 6 0 200 100 0
0 0 0
20070600
0 6 0 300 100 0
0 0 0
20070500
0 6 0 100 100 0
0 0 0
20070400
0 6 0 0 0
0 0 0 0
20070300
0 6 0
0 0
0 0 0 0
20070200
0 6 0 600 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 0 200 100 0
0 0 0
First
2007 0 0 0
0 0 0 0
Fourth
2006 0 0 0
0 0 0 0
Third
2006 0 300 100 0
0 0 0
Second
2006 0 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 an
outside source, the Subject has annual sales in the $6.68 million USD range.
CURRENT OPERATIONS
NAICS Code: 4481
Clothing Stores
Number of Employees
: 23
Business Activity:
The Subject is a
wholesaler of active wear in the Chicago-area and the Midwest region of the
The Subject sells
active wear to screen printers, embroiders and advertising specialties.
The Subject sells
the following types of cotton products: bags, baseball shirts, boxer shorts,
denim shirts, hooded zippers, hooded pullovers, ladies tops, long-sleeve
t-shirts, pocket t-shirts, short-sleeve t-shirts, socks, sport shirts,
sweatpants, sweatshirts, tank tops, and towels.
As far can be determined the heading address is the sole location for
the Company's headquarters and operations.
TRADE REFERENCES
The Subject has
listed the following companies as trade references:
Name: FRUIT OF THE
LOOM
Address: 1 Fruit of
the
Tel: 270-781-6400
Fax: 270-781-0619
Name: GILDAN
ACTIVEWEAR
Address:
Tel: 877-445-3265
Fax: 877-344-5326
Each of the above-mentioned
trade references have been contacted. In the event a response is received, we
will update the information accordingly.
PUBLIC RECORD
The following UCC
filings have been made by the Company:
Name Searched:
COTTON CONNECTION INC.
Debtors: COTTON
CONNECTION, INC. [Business]
4735
Filing Date:
07/13/2004
Filing Number:
008891850
Secured Party:
CITICORP VENDOR FINANCE, INC.
P.O.
PARK RIDGE, NEW
Status: NO ACTION
TRANSACTED
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Name Searched:
COTTON CONNECTION INC.
Debtors: COTTON
CONNECTION, INC. [Business]
Filing Date:
03/07/2005
Filing Number:
009607439
Secured Party: DEVON
BANK
Status: NO ACTION
TRANSACTED
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The following tax
lien has been found against the Company:
Name Searched:
COTTON CONNECTION INC.
Property Address: NOT
REGULATED BY
Annual Report: Date
Mailed: 10/13/2006
Date Filed:
12/21/2006
Tax Factor: 1.000000
Tax Amount Paid: $
888.31
Date Mailed:
10/14/2005
Date Filed: 3/6/2006
Delinquency
Statement Date: 1/13/2006
Tax Factor: 1.000000
Tax Amount Paid: $
950.00
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A search of
bankruptcy courts revealed no record of the Subject filing for bankruptcy.
No derogatory legal
action was filed against the Subject.
GENERAL COMMENTS
The Subject is a
wholesaler of active wear in the Chicago-area and the Midwest region of the
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%)