MIRA
INFORM REPORT
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Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MULTISORB
TECHNOLOGIES, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1960 |
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Legal Form : |
Corporation -
Private |
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Line of Business : |
Manufacturer of
sorbents and desiccants. |
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: MULTISORB
TECHNOLOGIES, INC.
Address:
City:
State/Province:
Zip Code: 14224
Country: UNITED
STATES
Telephone: 716
824-8900
Facsimile: 716
824-4128
Founded
(D/M/Y): / /1960
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 350
Legal Form: Corporation
- Private
Website: www.multisorb.com
Maj.
Shareholder: The Cullen Family
Business Activity: The subject is engaged as a
manufacturer of sorbents and desiccants.
NOTE TO CLIENT
PERSON CONTACTED:
Mr. James Balon, Chief Financial Officer
Please Note: The legal name of the company is not
MULTISORB TECHNOLOGIES the legal name is MULTISORB TECHNOLOGIES, INC. for which
a report follows.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 17/02/1972
State/Province of
Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
Selected Entity Name: MULTISORB TECHNOLOGIES, INC.
Selected Entity
Status Information Current Entity Name:
MULTISORB
TECHNOLOGIES, INC.
Initial DOS Filing
Date: FEBRUARY 17, 1972
County:
Jurisdiction:
Entity Type: DOMESTIC BUSINESS CORPORATION
Current Entity
Status: ACTIVE
Selected Entity
Address Information DOS Process (Address to which DOS will mail process if
accepted on behalf of the entity)
MCGEE & GELMAN
200 SUMMER STREET
Principal Executive Office
MULTISORB
TECHNOLOGIES, INC.
Registered Agent
NONE
Managers/Key
Personnel
Mr. John S Cullen
II President &
CEO
Mr. James Balon Chief Financial Officer
Mr. James Renda Chief Operating Officer
Mr. Ronald
Muscoe Vice President
OWNERS
The Cullen
Family
% Majority
AFFILIATED ENTITIES
Multisorb
Technolgies Ltd.
Active Pack
Automation
Multisorb
International
SUBSIDAIRIES
Eagle Chemical
BANKS
M & T Bank
Telephone:
716-848-3300
Facsimile:
716-848-3066
Account Number:
Account Manager:
Management provided
the above bank. The bank requires an account number and authorization from the
Company which Management declined to disclose. Thus, we cannot furnish account
reference information.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-05 05-11 0000000 1800
600 100 0 0 0 0
CUST 7 YR
CHEMICALS
07-05 00-00 CREDIT 900 300
100 0 0 0 0
DP EQUIP
07-06 05-06 NET 30 100 0
0 0 0
0 0
FINCL SVCS 07-07 00-00 VARIED 68000
41300 100 0 0
0 0 CUST
3 YR
FINCL SVCS 07-06 07-05 CONTRCT 1900 0
0 0 0
0 0 CUST
2 YR
FREIGHT
07-04 07-03 VARIED 2000 200
0 100 0 0 0
MANUFCTRNG 07-04 07-03 VARIED 1000
700 100 0 0
0 0 CUST
1 YR
PACKAGING
07-07 02-12 NET 30 2200 100
100 0 0 0
0 CUST 7 YR
PAPER DIST 07-07 07-06 NET 30 25600
9900 30 70
0 0 0
CUST 24 YR
PETRO EQP
07-05 00-00 NET 30 0 0
0 0 0
0 0
SAFTY PROD 07-05 00-00 NET 30 800
0 0 0 0 0
0 CUST 1 YR
TELECOM
07-06 00-00 NET 30 200 100
100 0 0 0 0
TRUCK DLR
07-07 00-00 CONTRCT 600
0 0 0
0 0 0
WAREHOUSE
07-07 07-04 VARIED 1000 1000
92 3 5
0 0 CUST
4 YR
WELDING
07-05 07-04 N10PRXO 700
500 100 0 0
0 0
AIR TRANS
06-11 00-00 NET 30 1200 0
0 0 0
0 0 CUST 23 YR
BLDG MATRL 07-01 00-00 CREDIT 5000
700 100 0 0
0 0
BUS SERVCS 07-01 00-00 NET 7 1800
100 0 0 38 62 0
CHEMICALS
07-01 06-11 NET 30 1600 0
0 0 0
0 0
COMPUTERS
05-05 00-00 CREDIT 0 0
0 0 0
0 0 CUST 37 YR
COMPUTERS
07-01 00-00 CREDIT 25000 2000
100 0 0 0 0
COMPUTERS
06-06 06-05 0000000 12200
3700 0 48
48 0 4
CRED CARD
07-06 07-05 REVOLVE 1000
900 100 0 0
0 0 CUST 25 YR
ELEC SUPLR 06-01 00-00 NET30 8500
100 0 0
0 100 0
FACTOR
07-02 05-04 NET 30 0 0
0 0 0
0 0
FOOD DISTR 06-12 06-01 NET 30 500
100 0 0
0 0 100
FRGHT FWRD 06-01 00-00 NET 30 4200
3100 64 0
0 0 36
PAPER PROD 05-06 00-00 NET 30 0
0 0 0
0 0 0
PETROLEUM
04-10 00-00 VARIED 200 100
100 0 0 0
0 PROMPT
PETROLEUM
07-02 07-02 VARIED 500 100
100 0 0 0
0 CUST 10 YR
TELECOM
07-05 07-03 NET 30 100 0
0 0 0
0 0 EXLENT ACC
TELECOM
06-10 00-00 ROI 1200 0
0 0 0
0 0 CUST
5 YR
TRANSPORTN 04-08 04-07 VARIED 600
600 0 100 0
0 0
CURRENT QUARTER 106800 54700
87 13 0
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070700
0 5 0 61200 99
1 0 0 0
20070600
0 4 3 71500 81
19 0 0 0
20070500
0 4 3 71500 88
8 4 0 0
20070400
0 5 2 67700 84
16 0 0 0
20070300
0 5 2 62900 92
7 0 1 0
20070200
0 5 2 65200 89
9 2 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 2 68000 89
10 1 0 0
First
2007 2 65300 88
11 1 0 0
Fourth
2006 6 16600 77
14 9 0 0
Third
2006 4 27300 76
23 0 1 0
Second
2006 4 13300 82
14 3 1 0
FINANCIAL INFORMATION
Management declined
to provide detailed financial information, he did however state that the company
was profitable for 2006. Outside sources consulted could provided no insight
into the financial status of the Subject.
CURRENT OPERATIONS
NAICS Code: 339
Miscellaneous Manufacturing
Number of
Employees: 350
Business Activity:
The subject is
engaged as a manufacturer of sorbents and desiccants.
The subject
manufactures sorbents and desiccants, to protect packaged products from
moisture, oxygen, odors, liquid spills and more. The products help to maintain
shelf life for medical drugs and food.
The products can be inserted into electronics and electro-optical components to
protect them from moisture. Some of the
electronics that the sorbents and desiccants can be added to are;
semiconductors, and electronic housings.
The above address is the headquarters there is an sales office listed
below. The facility is leased from the President of the company Mr.Cullen, it
is approximately 170,000 square feet.
Multisorb
Technologies Ltd.
PUBLIC RECORD
Name Searched: MULTISORB
TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
WELLS
Filing Date:
12/5/2002
Filing Number:
0212052714513
Filing Type: INITIAL
FILING
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTIFORM DESICCANTS, INC.
MULTISORB
TECHNOLOGIES, INC.
Secured Parties:
M& T REAL ESTATE, INC.
Filing Date:
10/20/2005
Filing Number: 0510205918562
Filing Type:
CONTINUATION
Original Filing
Number: 96036423
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
MANUFACTURERS AND TRADERS TRUST COMPANY
Filing Date:
3/2/2007
Filing Number:
0703025243928
Filing Type:
CONTINUATION
Original Filing
Number: 02187066
----
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties: IBM
CREDIT LLC
Filing Date:
11/2/2004
Filing Number:
0411025919895
Filing Type: INITIAL
FILING
----
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
MANUFACTURERS AND TRADERS TRUST COMPANY
Filing Date:
9/25/2000
Filing Number:
00184446
Filing Type:
CONTINUATION
Original Filing
Number: 98052657
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties: MANUFACTURERS
AND TRADERS TRUST COMPANY
Filing Date:
8/16/2000
Filing Number:
00159607
Filing Type:
CONTINUATION
Original Filing
Number: 96005572
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
MANUFACTURERS AND TRADERS TRUST COMPANY
Filing Date:
9/26/2005
Filing Number:
0509265847700
Filing Type:
CONTINUATION
Original Filing
Number: 96052657
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES INC
Secured Parties:
WELLS
Filing Date:
4/27/2006
Filing Number:
0604275405481
Filing Type: INITIAL
FILING
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
SCOLR/NUTRACEUTIX, INC.
MULTISORB
TECHNOLOGIES, INC.
Secured Parties:
MANUFACTURERS AND TRADERS TRUST COMPANY
Filing Date:
1/13/2003
Filing Number:
0301130078632
Filing Type: INITIAL
FILING
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
MANUFACTURERS AND TRADERS TRUST COMPANY ATTENTION: COLLATERAL
AND DOCUMENTATION
DEPT.
Filing Date:
8/13/2002
Filing Number:
02187066
Filing Type: INITIAL
FILING
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
M& T REAL ESTATE, INC.
Filing Date:
10/20/2005
Filing Number:
0510205918550
Filing Type:
CONTINUATION
Original Filing
Number: 96058497
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
M& T REAL ESTATE INC.
Filing Date:
12/7/2000
Filing Number:
00234742
Filing Type:
CONTINUATION
Original Filing
Number: 96058497
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
NATIONAL FUEL RESOURCES, INC.
Filing Date:
9/29/2004
Filing Number:
0409298315914
Filing Type: INITIAL
FILING
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
MANUFACTURERS AND TRADERS TRUST COMPANY
Filing Date:
6/24/2004
Filing Number:
0406245525150
Filing Type:
AMENDMENT
Original Filing
Number: 02187066
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
M& T REAL ESTATE, INC.
Filing Date:
8/4/2003
Filing Number:
0308041423819
Filing Type: INITIAL
FILING
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties: IBM
CREDIT LLC
Filing Date:
5/30/2003
Filing Number:
0305305086652
Filing Type: INITIAL
FILING
---
Name Searched:
MULTISORB TECHNOLOGIES
Debtor Address:
MULTISORB TECHNOLOGIES, INC.
Secured Parties:
M& T REAL ESTATE, INC.
Filing Date: 1/22/2001
Filing Number:
01015188
Filing Type:
CONTINUATION
Original Filing
Number: 96036423
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A search of
bankruptcy courts revealed no record of the Subject filing for bankruptcy.
GENERAL COMMENTS
Multisorb Technologies,
Inc. is a well established company engaged as a manufacturer of sorbents and
dessicants. Payment record is satisfactory and a search of public and
bankruptcy courts revealed no derogatory information filed against the Company
nor any bankruptcies filed by the Company.
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%)