MIRA
INFORM REPORT
|
Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
SUN DIAMONDS INC. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1998 |
|
|
|
|
Legal Form : |
Corporation - Private |
|
|
|
|
Line of Business : |
Importer and wholesaler of loose diamonds and diamond jewelry. |
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: SUN DIAMONDS INC.
Address:
City:
State/Province:
Zip Code: 48287
Country: UNITED STATES
Telephone: 248-967-2300
Facsimile: 248-268-0086
Founded (D/M/Y): /
/1998
In KUSD As of: 31/12/2006
Sales / Revenue: 1,200
Net Income:
Total Equity:
Number of Employees: 2
Legal Form: Corporation - Private
Website: N/A
Maj. Shareholder: Mr. Shankar Bhavsar
Business Activity: The Company
is an importer and wholesaler of loose diamonds and diamond jewelry.
NOTE TO CLIENT
NOTE::LEGAL NAME: SUN DIAMONDS
INC.
ORDERED NAME: SUN DIAMOND INC.
Person Contacted: Mr. Shankar
Bhavsar, President and Owner. He
verified and updated the information presented to him.
LEGAL
Legal Form: Corporation
- Private
Since (D/M/Y): 27/12/2002
State/Province of Incorporation: MI
Status: DISSOLVED
Previous Legal Form:
Company is NOT required to publish an annual financial report.
The Company incorporated in
ID Num: 35772C
Entity Name: SUN DIAMONDS INC.
Type of Entity: Domestic Profit Corporation
Resident Agent: SHANKAR A BHAVSAR
Registered Office Address: 1155 STACY DR APT 47
Mailing Address: MI
Formed Under Act Number(s): 284-1972
Incorporation/Qualification Date: 12-27-2002
Jurisdiction of Origin:
Number of Shares: 50,000
Year of Most Recent Annual Report:
Year of Most Recent Annual Report With Officers & Directors:
Status: AUTOMATIC DISSOLUTION
Date: 7-15-2005
Please note that it is not uncommon, nor necessarily detrimental to find
an incorporation status as dissolved. This term may result from a failure to
send updated information to the Offices of the Secretary of State, or taxes
that have not been brought to current. The company may have outsourced these
responsibilities and may not be aware of the situation. A company can, most
certainly, still operate under these conditions. The status can be easily
reinstated to active once the problem is remedied.
Managers/Key
Personnel
Mr. Shankar Bhavsar
President
OWNERS
Mr. Shankar Bhavsar 100.00% Majority
The Company has no subsidiaries or affiliates.
BANKS
National City Bank
Telephone: 614 887-7318
Facsimile: 614 887-7322
Account Number: 984751578
Account Manager:
A fax was sent to the Company for signed authorization for credit
information.
PAYMENT HISTORY
No payment record was found for the Subject at this time.
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2006 31/12/2006 31/12/2006
Consolidated
Sales / Revenues 1,200 - -
Mr. Bhavsar stated net sales for 2006 were US$1.2 Million. He deferred all financial statement information
to a fax request. If we receive a
response, we will amend the report accordingly.
CURRENT OPERATIONS
NAICS Code: 42194 Jewelry, Watch, Precious Stone and
Precious Metal
SIC Code: 5094
Number of Employees: 2
Business Activity:
The Company is an importer and wholesaler of loose diamonds and diamond
jewelry.
The Subject primarily imports from
The heading address is the sole location for the Company. The facility consists of leased office space.
TRADE REFERENCES
The following companies were faxed for credit information. If we receive responses, we will amend the
report accordingly.
SHAH DIAMONDS
Tel: 212-888-9395
Fax: 212-888-0055
-
CIEMME NY LLC
Tel: 212-398-9666
Fax: 212-840-5680
-
SAVIN DIAMOND CORPORATION
Tel: 212-840-3050
Fax: 212-840-3172
PUBLIC RECORD
A search of public revealed no derogatory information, bankruptcy
petitions or Uniform Commercial Codes.
GENERAL COMMENTS
The Subject, founded in 1998 in
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%)