MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
GG GEMS INC. |
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Registered Office : |
48 West 48 Street,
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Country : |
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Date of Incorporation : |
1970 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Manufacturer and
wholesaler of jewelry. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: GG
GEMS INC.
Trade Name(s): GG
GEMS & JEWELLERY INC.
Address: 48
WEST 48 STREET
City:
State/Province:
Zip Code: 10036
Country: UNITED
STATES
Telephone: 212
398-4070
Facsimile: 212
398-4050
Founded
(D/M/Y): / /1970
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 2
Legal Form: Corporation
- Private
Website: www.elegem.com
Business Activity: The company is a manufacturer and
wholesaler of jewelry.
NOTE TO CLIENT
Person Contacted:
Mr. GG Gupta, CEO
The provided name,
GG GEMS & JEWELLERY INC. is a trade
name for GG Gems Inc. Mr. Gupta requested a written inquiry and if it is
returned, the report will be amended.
All other
information in the report was obtained through outside sources and cannot be
confirmed by management.
LEGAL
Legal Form: Corporation –
Private
Since (D/M/Y): 07/02/2007
State/Province of
Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
Registration for NY:
Current Entity Name:
GG GEMS INC.
Initial DOS Filing
Date: FEBRUARY 07, 2007
County:
Jurisdiction:
Entity Type:
DOMESTIC BUSINESS CORPORATION
Current Entity
Status: ACTIVE
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Selected Entity
Address Information DOS Process (Address to which DOS will mail process if
accepted on behalf of the entity)
STEVEN R. GROSS,
ESQ.
Registered Agent
NONE
Managers/Key
Personnel
Mr. GG GUPTA Chairman & Chief Executive Officer
AFFILIATED ENTITIES
There are no
divisions, affiliates or subsidiaries.
BANKS
NY
Telephone:
Facsimile:
Account Number:
Account Manager:
No primary banking
information could be obtained.
PAYMENT HISTORY
The company is not a
seeker of local trade credit and as such a significant payment record could not
be developed.
FINANCIAL INFORMATION
No financial
information was provided by management, but outside sources report annual
revenue at US $5-10 million.
CURRENT OPERATIONS
NAICS Code: 339911
Jewelry (except Costume) Manufacturing
SIC Code: 3911
NAICS Code: 42 Wholesale Trade
Number of
Employees: 2
Business Activity:
The company is a
manufacturer and wholesaler of jewelry.
The company
specializes in Silver & Sterling
Silver Jewelry. Rings, bracelets and pendants are produced.
Mr. Gupta confirmed
the above address as being the headquarters and stated that there are no
branches.
TRADE REFERENCES
Supplier references
were requested.
PUBLIC RECORD
Through extensive
research, no Uniform Commercial Codes, legal actions or bankruptcy petitions
were reported under the Subject's name.
GENERAL COMMENTS
The company was
incorporated in February, 2007, engaged as a manufacturer and wholesaler of
jewelry. A significant payment record could not be developed and no public were
traced to the Firm.
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%)