MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
JAYSIX USA INC. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
28/02/2001 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Shirt and fabric
manufacturer. |
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 : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: JAYSIX
USA INC.
Trade Name(s): Vluxe,Haspel,
Tattersal
Address:
SUITE C 102A
City:
State/Province:
Zip Code: 22408
Country: UNITED
STATES
Telephone: 540
372 6450
Facsimile: 540
372 6548
In KUSD As of:
31/12/2006
Sales /
Revenue: 6,100
Net Income:
Total Equity: 577
Number of Employees:
8
Legal Form: Corporation
- Private
Website: www.tattersal.com
Business Activity: The Company is a shirt and fabric
manufacturer.
NOTE TO CLIENT
Person Contacted:
Mr. Guy Prud'homme, President
******************************************UPDATE*********************
Management provided
financial statements for 2006. The financial section of the report was updated
to reflect this new information.
*************************************************UPDATE*************
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 28/02/2001
State/Province of
Incorporation: VA
Status: ACTIVE
Previous Legal
Form: Agency
Company is NOT
required to publish an annual financial report.
Virginia
Registration:
DATE OF CERTIFICATE: 02/28/2001
STATE OF
STOCK
INDICATOR: S STOCK
MERGER
GOOD STANDING
CHARTER FEE: 50.00
R/A NAME: PAUL A SIMPSON
CITY:
STATE : VA
ZIP: 22401 5720
R/A STATUS: A
ATTORNEY EFF. DATE: 02/28/01
LOC.: 206
ACCEPTED AR#: 207 10
1752 DATE: 01/26/07
CURRENT AR#: 207 10 1752
DATE: 01/26/07 STATUS: A ASSESSMENT
INDICATOR: 0
SHARES
07 100.00 5,000
Managers/Key
Personnel
Mr. Guy
Prud'homme President
Mr. Jason
Dopham Director
AFFILIATED ENTITIES
Management confirmed
no affiliates or subsidiaries exist.
BANKS
Branch Banking and
Trust Company
Telephone:
1-800-226-5228
Facsimile:
Account Number:
5133740092
Account Manager:
The bank declined to
provide any information.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
PACKAGING
07-07 00-00 NET 30 400 0
0 0 0 0
0 CUST 4 YR
TEMP HELP
07-06 00-00 NET 7 700 0
0 0 0
0 0
UTILITY
07-06 07-06 NET 500 100
100 0 0 0
0 PROMPT
AIR TRANS
06-11 00-00 NET 30 0 0
0 0 0
0 0 CUST
1 YR
FACTOR
05-05 05-01 VARIED 200 0
0 0 0
0 0
LEASING
05-10 00-00 CONTRCT 1100
0 0 0
0 0 0
TRANSPORTN 06-08 00-00 NET 30 0
0 0 0
0 0 0
CUST < 1 Y
CURRENT QUARTER 1600 100
100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070700
0 6 0 300 100 0
0 0 0
20070600
0 6 0 100 100 0
0 0 0
20070500
0 6 5 300 65
35 0 0 0
20070400
0 6 0 300 100 0
0 0 0
20070300
0 6 0 0 0
0 0 0 0
20070200
0 6 0 0 0
0 0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 3 200 83
17 0 0 0
First
2007 0 0 0
0 0 0 0
Fourth
2006 4 800 72
28 0 0 0
Third
2006 2 700 86
14 0 0 0
Second
2006 0 100 100 0
0 0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2006 31/12/2005 31/12/2004
Consolidated
Consolidated Consolidated
Sales / Revenues 6,100 3,500 3,700
Gross Margin 12 863 675
Operating Income (Loss) 116 62 72
Income before Taxes 82 42 59
ASSETS
Cash and Equivalents - 97 76
Inventory 390 167 122
Accounts Receivables 1,090 355 1,172
Total Current Assets 1,480 878 178
Property Plant & Equip 336 306 220
Total Fixed Assets 336 306 220
Total Assets 1,816 910 1,516
LIABILITIES
Trade Creditors 274 209 183
Other Current Liab 828 194 860
Total Current Liab 1,101 403 1,122
Long Term Debt 138 396 80
Total Long Term Liab 138 396 80
Total Liabilities 1,239 799 1,447
EQUITY
Total Equity 577 110 689
FINANCIAL ANALYSIS
Actual Previous Percentage of total assets
31/12/2006 31/12/2005 31/12/2006
31/12/2005
Cash and Equivalents 0 97 0.00 10.66
Inventory 390 167 21.48 18.35
Total Current Assets 1,480 878
81.50 96.48
Total Assets 1,816 910 100.00
100.00
Total Current Liab 1,101 403 60.63 44.29
Long Term Debt 138 396 7.60 43.52
Total Liabilities 1,239 799 68.23 87.80
Total Equity 577 110 31.77 12.09
Please note: the
financial figures presented above are expressed as consolidated, however should
be viewed a individual. Also, the Company sent partial financials (selected
figures).
CURRENT OPERATIONS
NAICS Code: 315223
Men's and Boys' Cut and Sew Shirt (except Work Shi
SIC Code: 2321
Number of Employees
: 8
Business Activity:
The Company is a
shirt and fabric manufacturer.
According to
management, the Company manufactures dress shirts for men and boys. The website
given is a fabric selling website.
Management confirmed
this is the sole location. It is a 10,000 square foot leased space.
PUBLIC RECORD
Name Searched:
JAYSIX USA INC.
Debtor Address:
JAYSIX USA INC
Secured Parties:
BRANCH BANKING AND TRUST COMPANY OF VA
Filing Date:
4/11/2006
Filing Number:
060411 71278
Filing Type: INITIAL
FILING
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Name Searched:
JAYSIX USA INC.
Debtor Address:
JAYSIX USA, INC.
Secured Parties:
CAPITAL FACTORS, INC. CFH ACQUISITION LLC (ASSIGNEE)
Filing Date:
5/4/2005
Filing Number:
050504 71968
Filing Type:
ASSIGNMENT
Original Filing
Number: 021010 72968
GENERAL COMMENTS
The Company
incorporated in 2001 operates as a shirt and fabric manufacturer. They have a
solid payment history and no derogatory information or bankruptcies were found
in the Company's name.
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%)