MIRA INFORM REPORT

 

 

Report Date :

06.06.2007

 

IDENTIFICATION DETAILS

 

Name :

GRK GEMS INC.

 

 

Registered Office :

20 East 46th Street Suite 700, New York - 10017                       

 

 

Country :

United States                

 

 

Date of Incorporation :

20/09/1977

 

 

Legal Form :

Corporation - Private

 

 

Line of Business :

Manufacturer and Wholesaler of diamond and precious gemstones.

 

 

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 : GRK GEMS INC.

Address                        : 20 EAST 46TH STREET SUITE 700

City                              : NEW YORK                    

State/Province               : NEW YORK                             

Zip Code                       : 10017                       

Country                         : UNITED STATES               

Telephone                     : 212-867-3682                

Facsimile                      : 212-867-4458

Legal Form                    : Corporation - Private

Website                        : www.grkgems.com

Business Activity           : The Company is a manufacturer and wholesaler of diamond and precious gemstones.

Founded (D/M/Y)           :      /  /1977

As of                             :

Sales / Revenue :

Net Income                    :

Total Equity                   :

 

 

NOTE TO CLIENT

 

Person Contacted:  Mr. Kedar Gupta, President.  Mr. Gupta verified the legal name, address, fax number, and business activity before requesting a fax form to provide additional information.

 

An employment figure could not be learned at this time.

 

No other information in this report was confirmed by management.

 

 

LEGAL

 

Legal Form                                            : Corporation - Private                    

Since (D/M/Y)                                        : 20/09/1977

State/Province of Incorporation                : NY

Status                                                   : ACTIVE

Previous Legal Form:

 

Company is NOT required to publish an annual financial report.

 

The Company incorporated in New York under the following registration:

 

Current Entity Name                   : GRK GEMS INC.

Initial DOS Filing Date                : SEPTEMBER 20, 1977

County                                      : NEW YORK

Jurisdiction                                : NEW YORK

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)

GRK GEMS INC.

1270 AVE OF THE AMERICAS

NEW YORK, NEW YORK, 10020

Registered Agent: NONE

 

 

Managers/Key Personnel

 

Mr. Kedar Gupta                        President

 

 

AFFILIATED ENTITIES

 

The Subject is affiliated with the companies:

 

Gupta Jewel Corporation                         Jaipur, India

Real Thai Gems Ltd.                              Bangkok, Thailand

Kowloon Trading Co.                              Hong Kong

Thai Fine Gems &  Jewelry Ltd.               Bangkok, Thailand

 

The Company has no known subsidiaries.

 

 

BANKS

 

NY

Telephone:

Facsimile:

Account Number:

Account Manager:

 

A bank name could not be learned at this time. Public list THE MERCHANTS BANK OF NEW YORK several times as a secured party, however, this bank could not be confirmed by management.

 

 

PAYMENT HISTORY

 

 BUSINESS   DATE  LAST  PAYMENT CREDIT   BALANCE  CUR 1-  31- 61-

 CATEGORY   REPTD SALE  TERMS      $        $      %  30  60  90  91+ COMMENTS

 ---------- ----- ----- ------- -------- -------- --- --- --- --- --- --------

 BUS SERVCS 06-12 00-00 NET 30  100      100      100 0   0   0   0

 OFFC SUPPL 06-11 06-09 NET     300      0        0   0   0   0   0   CUST  4 YR

 

 TELECOM    06-12 00-00 NET 30  0        0        0   0   0   0   0

 BANK CARD  06-12 06-12 NET 28  0        0        0   0   0   0   0

 BUS SERVCS 05-04 05-04 NET 30  0        0        0   0   0   0   0

 GENERAL    05-02 02-02 NET 30  0        0        0   0   0   0   0   CUST 11 YR

 LEASING    05-01 05-01 NOTE    6400     5300     100 0   0   0   0

 LEASING    06-06 00-00 CONTRCT 800      0        0   0   0   0   0   CUST  4 YR

 PACKAGING  06-01 04-12 NET 30  200      100      100 0   0   0   0

 CURRENT QUARTER                400      100      100 0   0   0   0

 

Payment Trends

 

            INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

 DATE      CUR    DBT       DBT             $      %  30  60  90  91+

 --------  ---    ---       ---          -------- --- --- --- --- ---

 20061200  0      5         0            100      100 0   0   0   0

 20061100  0      5         0            200      100 0   0   0   0

 20061000  0      5         0            500      100 0   0   0   0

 20060900  0      5         0            100      100 0   0   0   0

 20060800  0      6         0            100      100 0   0   0   0

 20060700  0      6         0            100      100 0   0   0   0

 

 

Payment History - Quarterly Averages

 

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

 -------- ------            ---          -------- --- --- --- --- ---

 Fourth   2006              0            100      100 0   0   0   0

 Third    2006              0            200      100 0   0   0   0

 Second   2006              0            100      100 0   0   0   0

 First    2006              0            200      100 0   0   0   0

 Fourth   2005              3            100      83  17  0   0   0

 

 

FINANCIAL INFORMATION

 

Mr. Gupta declined to provide financial statement information over the phone.  If we receive a response to our fax request, we will amend the report accordingly.

 

 

CURRENT OPERATIONS

 

NAICS Code:     339911    Jewelry (except Costume) Manufacturing

SIC Code:         3911

NAICS Code:     42194     Jewelry, Watch, Precious Stone and Precious Metal

 

 

Business Activity

 

The Company is a manufacturer and wholesaler of diamond and precious gemstones.

 

The heading address is believed to be the sole location for the Subject.

 

 

PUBLIC RECORD

 

A search of public records revealed the following information, and no bankruptcy petitions.

 

Name Searched : GRK GEMS INC.

Debtor Address              : GRK GEMS, INC.

  20 EAST 46TH STREET, NEW YORK, NY 10017

Secured Parties             : THE MERCHANTS BANK OF NEW YORK, A DIVISION OF VALLEY

                                      NATIONAL BANK, SUCCESSOR IN INTEREST TO THE MERCHANTS BANK

                                      OF NEW Y

Filing Date                     : 11/29/2001

Filing Number                : 01234078

Filing Type                    : AMENDMENT

Original Filing Number    : 87052872

 

Name Searched : GRK GEMS INC.

Debtor Address              : GRK GEMS, INC.

  22 WEST 48TH STREET, NEW YORK, NY 10036

Secured Parties             : THE MERCHANTS BANK OF NEW YORK, A DIVISION OF VALLEY

                                      NATIONAL BANK, SUCCESSOR IN INTEREST TO THE MERCHANTS BANK

                                      OF NEW Y

Filing Date                     : 10/5/2001

Filing Number                : 01191251

Filing Type                    : AMENDMENT

Original Filing Number    : 87052872

 

Name Searched : GRK GEMS INC.

Debtor Address              : GRK GEMS, INC.

  22 WEST 48TH STREET, NEW YORK, NY 10036

Secured Parties             :THE MERCHANTS BANK OF NEW YORK, A DIVISION OF VALLEY

                                      NATIONAL BANK, SUCCESSOR IN INTEREST TO THE MERCHANTS BANK

                                      OF NEW Y

Filing Date                     : 10/5/2001

Filing Number                : 01191251

Filing Type                    : CONTINUATION

Original Filing Number    : 87052872

 

Name Searched : GRK GEMS INC.

Debtor Address              : GRK GEMS INC

  GRK GEMS INC.

  20 EAST 46TH STREET, NEW YORK, NY 10017

  GRK GEMS INC.

  48 WEST 48TH ST., NEW YORK, NY 10036

Secured Parties             : THE MERCHANTS BANK OF N.Y. VNB NEW YORK CO

Filing Date                     : 9/8/2006

Filing Number                : 0609085873975

Filing Type                    : ASSIGNMENT

Original Filing Number    : 87052872

 

Name Searched : GRK GEMS INC.

Debtor Address              : GRK GEMS INC

  GRK GEMS INC.

  20 EAST 46TH STREET, NEW YORK, NY 10017

  GRK GEMS INC.

  20 EAST 46TH STREET, NEW YORK, NY 10017

  GRK GEMS INC.

  48 WEST 48TH ST., NEW YORK, NY 10036

Secured Parties             : THE MERCHANTS BANK OF N.Y. VNB NEW YORK CO

Filing Date                     : 9/8/2006

Filing Number                : 0609085874662

Filing Type                    : CONTINUATION

Original Filing Number    : 87052872

 

 

GENERAL COMMENTS

 

The Subject, founded in New York in 1977, is engaged as a manufacturer and wholesaler of diamonds and precious gem stones.  The payment record is limited, however, generally satisfactory and the operating history is clear.  No derogatory information or bankruptcy petitions were reported or noted.  The Company is responsible for normal business transactions.

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions