MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
COSMETIC ESSENCE, INC. |
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Registered Office : |
2182 Route 35 South, |
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Country : |
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Date of Incorporation : |
24/09/1952 |
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Legal Form : |
Corporation – Private |
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Line of Business : |
Manufacturer of women's cosmetics, perfumes and toiletries. |
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: COSMETIC ESSENCE, INC.
Address: 2182 ROUTE 35 SOUTH
City: HOLMDEL
State/Province: NEW
Zip Code: 07733
Country: UNITED STATES
Telephone: 732 888-7788
Facsimile: 732 888-6034
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 900
Legal Form: Corporation - Private
Website: www.cosmeticessence.com
Business Activity: The
Subject is engaged as a manufacturer of women's cosmetics, perfumes and
toiletries.
NOTE TO CLIENT
Mr. Russ McJunkins, Director of Corporate Accounting, provided the
following information contained in this report.
LEGAL
Legal Form: Corporation
- Private
Since (D/M/Y): 24/09/1952
State/Province of Incorporation: NJ
Status: ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
Business Name: COSMETIC
ESSENCE, INC.
Report Date: 01/19/2007
Business ID Number: 2880735000
Business Type: DOMESTIC
PROFIT CORPORATION
Status: ACTIVE
Filing Date: 09/24/1952
Home Jurisdiction: NJ
Agent: CORPORATION
SERVICE COMPANY
Agent Address:
Previous Name: CHEMICAL
ELECTRONIC ENGINEERING, INC.
Previous Name: CHEMICAL
ELECTRONICS INC.
Fictitious Name: MHI
Fictitious Name: MHI
DIVISION
Fictitious Name: CEI
PACKAGING
Managers/Key
Personnel
Mr. Richard R. Howard
Chief Operating Officer
Mr. John Croddick
Chief
Executive Officer
Mr. Richard Browning
Chief Financial Officer
Mr. Russ McJunkins (Corp. Acct)
Director
Mr. William Laudine
Controller
AFFILIATED ENTITIES
Management reports no affiliates or subsidiaries.
BANKS
COMERICA BANK
NJ
Telephone:
Facsimile:
Account Number:
Account Manager:
The above bank requires a signed authorization from the Company which we
have formerly requested. We currently await a response.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-03 07-02 0000000 19000
16600 100 0 0 0
0 CUST 15 YR
BLDG MATRL 07-05 00-00 VARIED 0
0 0 0
0 0 0
CUST 1 YR
BUS SERVCS 07-05 00-00 VARIED 2100
1200 100 0 0
0 0
CHEMICALS
07-05 00-00 CREDIT 900 900
100 0 0 0 0
CHEMICALS
07-04 07-03 SPECIAL 102300
34600 97 3
0 0 0
FACTOR
07-05 03-11 NET 30 0 0
0 0 0
0 0 CUST
5 YR
FINCL SVCS 07-05 07-04 NET 30 2900
400 100 0 0
0 0
FINCL SVCS 07-05 06-12 NET 1300
0 0 0
0 0 0
CUST 2 YR
FREIGHT
07-04 05-10 VARIED 1800 0
0 0 0
0 0
FREIGHT
07-03 06-04 VARIED 3200 1700
100 0 0 0
0 CIA
LUMBR& WOOD 07-04 07-04 VARIED 144000
35300 100 0 0
0 0 CUST
7 YR
MANUFCTRNG 07-05 07-04 VARIED 431600
197000 100 0 0 0 0
CUST 1 YR
OFFC SUPPL 07-04 07-01 NET 1300
0 0 0
0 0 0
CUST 3 YR
PACKAGING
07-05 06-11 NET 30 6500 2300
71 29 0
0 0 CUST 19 YR
PETROLEUM
07-03 07-03 VARIED 8200 2600
100 0 0 0
0 CUST 15 YR
SAFTY PROD 07-05 00-00 NET 30 2100
0 0 0
0 0 0
TRUCK DLR
07-05 00-00 CONTRCT 15200
5000 9 11
25 0 55
COLLECTION
AIR TRANS
06-11 00-00 NET 30 100 100
0 100 0 0
0 CUST 8 YR
BLDG MATRL 06-06 00-00 VARIED 200
100 0 100 0
0 0
BLDG MATRL 07-01 00-00 CREDIT 11000
1900 100 0 0
0 0
COMPUTERS
07-01 04-01 CREDIT 5000 0
0 0 0
0 0
FACTOR 07-01 03-05 NET 0
0 0 0
0 0 0
CUST 7 YR
FINCL SVCS 04-11 04-11 CONTRCT 20200 0
0 0 0
0 0 ACCTCLOSED
GENERAL
05-02 02-03 NET 30 0 0
0 0 0
0 0 CUST
5 YR
HEATNG& A/C 06-03 00-00 NET 30 25700
200 0 100 0
0 0
HOUSEWARES 06-04 03-08 VARIED 0
0 0 0
0 0 0
LEASING
07-03 00-00 CONTRCT 2100
1000 100 0 0 0 0
LEASING
05-01 04-12 NOTE 4500 4500
93 7 0
0 0
MED EQUIP
07-01 00-00 NET 30 0 0
0 0 0
0 0
MISC MANUF 06-11 06-09 VARIED 21300
0 0 0
0 0 0
MISC MANUF 06-08 00-00 VARIED 800
0 0
0 0 0 0
MOTR TRANS 05-12 04-09 NET 30 39700
0 0 0
0 0 0
OFFC SUPPL 07-01 00-00 CREDIT 20000
200 100 0 0
0 0
PACKAGING
06-01 04-05 NET 30 500 0
0 0 0
0 0
PACKAGING
04-11 00-00 NET 30 0 0
0 0 0
0 0
PAINTS
04-12 00-00 VARIED 900 400
70 30 0
0 0
PETROLEUM
04-09 00-00 VARIED 100 100
100 0 0 0
0 PROMPT
RUBR& PLAST 06-06 06-07 0000000 26500 13700
78 22 0
0 0 CUST
2 YR
TELECOM
06-02 00-00 NET 30 100 100
50 50 0
0 0 DISPUTE
TELECOM
06-10 00-00 ROI 100 100
100 0 0 0 0
TRANSPORTN 04-11 00-00 VARIED 1100
0 0 0
0 0 0
CURRENT QUARTER 741500
296700 98 1
0 0 1
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
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--- --- --- -------- --- --- --- --- ---
20070500
0 7 1 576900 98
1 0 0 1
20070400
0 7 1 573100 99
0 0 0 1
20070300
0 8 7 333300 69
28 1 0 2
20070200
0 7 2 306800 97
1 0 1 1
20070100
0 7 3 198100 80
19 1 0 0
20061200
0 7 3 196600 81
18 1 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2007 3 312800 89
10 0 0 1
Fourth
2006 2 245800 87
12 1 0 0
Third
2006 1 317600 97
2 0 0 1
Second
2006 3 195400 88
11 0 0 1
First
2006 3 363600 88
10 1 0 1
FINANCIAL INFORMATION
Management declined to provide detailed financial information however
Mr. McJunkins did indicate that annual net sales exceeds US$250 million.
CURRENT OPERATIONS
NAICS Code: 339999 All Other Miscellaneous Manufacturing
SIC Code: 3999
Number of Employees:
900
Business Activity:
The Subject is engaged as a manufacturer of women's cosmetics, perfumes
and toiletries.
The headquarters are at the above-noted address. The Company has
additional facilities located throughout
PUBLIC RECORD
The following Uniform Commercial Codes were filed by the Company:
Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE
INC
2182 ROUTE 35 SOUTH
Secured Parties: IOS CAPITAL
Filing Date: 8/19/2005
Filing Number: 23150171
Filing Type: INITIAL FILING
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE INC
1135 PLEASANTVIEW TER
Secured Parties: IOS CAPITAL
Filing Date: 5/4/2006
Filing Number: 23596368
Filing Type: INITIAL FILING
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE, INC.
2182 ROUTE 35 SOUTH
Secured Parties: SUMMIT BANK, AS AGENT FOR ITSELF AND THE HUNTINGTON
BANK, N.A.
Filing Date: 4/25/2001
Filing Number: 1867677
Filing Type: TERMINATION
Original Filing Number: 1867677
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE, INC.
2182 ROUTE 55 SOUTH
Secured Parties: THE CHASE MANHATTAN BANK, AS AGENT
Filing Date: 4/4/2001
Filing Number: 2034823
Filing Type: INITIAL FILING
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE INC
2182 ROUTE 35 SOUTH
Secured Parties: IOS CAPITAL
Filing Date: 7/11/2006
Filing Number: 23692305
Filing Type: INITIAL FILING
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE INC
2182 ROUTE 35 SOUTH
Secured Parties: IOS CAPITAL
Filing Date: 7/11/2006
Filing Number: 23696808
Filing Type: INITIAL FILING
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE INC
2182 ROUTE 35 SOUTH
Secured Parties: IOS CAPITAL
Filing Date: 7/11/2006
Filing Number: 23696822
Filing Type: INITIAL FILING
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE, INC.
2182 ROUTE 35 SOUTH
Secured Parties: MELLON
Filing Date: 5/9/2000
Filing Number: 1973631
Filing Type: INITIAL FILING
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE, INC.
Secured Parties: THE CHASE MANHATTAN BANK, AS AGENT (N/K/A JPMORGAN
CHASE BANK)
Filing Date: 8/22/2003
Filing Number: 2034823
Filing Type: ASSIGNMENT
Original Filing Number: 2034823
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE, INC.
Secured Parties:
Filing Date: 4/5/2001
Filing Number: 1988515
Filing Type: TERMINATION
Original Filing Number: 1988515
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE, INC.
Secured Parties: MELLON FIRST UNITED LEASING
Filing Date: 7/19/2001
Filing Number: 1825932
Filing Type: TERMINATION
Original Filing Number: 1825932
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Name Searched: COSMETIC ESSENCE INC.
Debtor Address: COSMETIC ESSENCE, INC.
2182 ROUTE 35 SOUTH
Secured Parties: TCF LEASING, INC TCF EXPRESS LEASING
Filing Date: 5/21/2003
Filing Number: 21602498
Filing Type: INITIAL FILING
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No bankruptcy petition was filed by the Subject.
GENERAL COMMENTS
A well-established Company, the Subject is engaged as a manufacturer of
men's and women's cosmetics, perfumes and toiletries. Payment are considered to
be generally satisfactory and a search of public records and bankruptcy courts
returned no derogatory information or record of the Company filing a bankruptcy
petition. They are considered acceptable for normal trade relations.
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%)