MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SPECIALTY
COMMODITIES INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12/04/1987 |
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Legal Form : |
Corporation -
Private |
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Line of Business : |
Operates as an
international commodities trader. |
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: SPECIALTY
COMMODITIES INC.
Address: 1530
47th Street
City:
State/Province:
Zip Code: 58102
Country: UNITED
STATES
Telephone: 701
282-8222
Facsimile: 701
282-7574
Founded
(D/M/Y): 01/01/1987
In KUSD As of:
31/12/2006
Sales /
Revenue: 145,000
Net Income:
Total Equity:
Number of Employees:
30
Legal Form: Corporation
- Private
Website: www.specialtycommodities.
Business Activity: The Company operates as an international
commodities trader.
NOTE TO CLIENT
Person
Contacted: Mr. Todd Shasky, Controller.
LEGAL
Legal Form: Corporation –
Private
Since (D/M/Y): 12/04/1987
State/Province of
Incorporation: ND
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
CORPORATION DETAILS
Name: SPECIALTY COMMODITIES, INC.
System ID: 1004700
Type: BUSINESS CORPORATION
Status: Active
& Good Standing
Original File
Date: 03/12/1987
State of
Effective Date: 03/12/1987
PRINCIPLE OFFICE
ND 58102-2858
REGISTERED AGENT
LARRY LEITNER
Agent Established
Date: Jun 29, 1999
AUTHORIZED SHARES
Number Par Value
25,000,000,000
$1.000000
Managers/Key
Personnel
Mr. Larry
Leitner President
Mr. Todd Shasky Controller
Mr. Randy Peterson Vice President
Mr. Alan Stern Vice President
AFFILIATED ENTITIES
Management reports
no affiliates of subsidiaries
Divisions
West Coast Edible
Division UNITED STATES
East Coast Edible
Division UNITED STATES
BANKS
WELLS FARGO BANK
ND
Telephone:
218-236-4147
Facsimile:
800-780-6966
Account Number:
0720008555
Account Manager: MR.
DAN STALLER
The bank has been
contacted for a reference. If they respond the information will be forwarded on
immediately. It is our experience that these requests could take several days
before a response is received.
HSBC TRADE BANK
Telephone:
800-975-4722
Facsimile:
Account Number:
Account Manager:
Bank policy
prohibits releasing any information on its accounts.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
FACTOR
07-05 07-02 VARIED 2600 0
0 0 0
0 0
FEED& FERT
07-03 00-00 NET 30 35500 35500
2 96
0 2 0
FINCL SVCS 07-05 00-00 VARIED 28400
28400 100 0 0
0 0 CUST
2 YR
FINCL SVCS 07-05 07-04 CONTRCT 0 0
0 0 0
0 0 SATSFTRY
FREIGHT
07-04 07-03 VARIED 11300 1100
100 0 0 0 0
FRGHT FWRD 07-04 07-04 NET 30 600
400 100 0 0 0 0
PACKAGING
07-05 06-11 NET 30 400 0
0 0 0
0 0 CUST
9 YR
TRUCK DLR
07-02 00-00 CONTRCT 300
0 0 0
0 0 0
WAREHOUSE
07-05 07-04 VARIED 100 0
0 0
0 0 0
CUST 6 YR
AIR TRANS
05-09 05-09 100 0
0 0 0
0 0
AIR TRANS
06-11 00-00 NET 30 1900 1900
100 0 0 0
0 CUST 10 YR
COMPUTERS
06-06 06-05 0000000 3000
800 0 100 0
0 0
FACTOR
06-08 00-00 NET 30 1800 0
0 0 0
0 0
FACTOR
07-01 00-00 NET 0 0
0 0 0
0 0 CUST
7 YR
FINCL SVCS 06-03 06-03 CONTRCT 0 0
0 0 0
0 0 SATSFTRY
LEASING
06-03 00-00 CONTRCT 7100
0 0 0
0 0 0
CUST 1 YR
MATRL HNDL 04-07 01-01 NET 30 0
0 0 0
0 0 0
CUST 9 YR
MED SUPPLY 06-04 00-00 VARIED 0
0 0 0
0 0 0
OFFC SUPPL 07-01 00-10 CREDIT 5000
200 100 0 0 0
0 ACCTCLOSED
TELECOM
06-08 00-00 NET 30 0 0
0 0 0
0 0
CURRENT QUARTER 43700 29900
100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070500
0 5 0 7700 100 0
0 0 0
20070400
0 4 0 7900 99
1 0 0 0
20070300
0 5 0 9700 99
1 0 0 0
20070200
0 5 0 9500 100 0
0 0 0
20070100
0 4 0 3000 100 0
0 0 0
20061200
0 4 0 1000 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2007 0 9000 99
1 0 0 0
Fourth
2006 0 1500 100 0
0 0 0
Third
2006 7 800 76
12 12 0 0
Second
2006 0 900 100 0
0 0 0
First
2006 0 900 100 0
0 0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End
(D/M/Y): 31/12/2007 31/12/2006 31/12/2006
Projected Consolidated
Sales /
Revenues 185,000 145,000 -
Management declined
to provide financial statements, however stated annual net sales for 2006 were US$145,000,000
and the 2007 projected annual net sales are in the US$185,000,000. Outside
sources could not provide any insight into the financial status of the subject.
CURRENT OPERATIONS
NAICS Code: 422
Wholesale Trade, Nondurable Goods
Number of
Employees: 30
Business Activity:
The Company operates
as an international commodities trader.
The Subject's
products include sunflower seeds, nuts, and dried fruits.
TRADE REFERENCES
NAME:
ADDRESS:
PHONE: 701 282-2600
FAX: 701 282-5325
This supplier has
been contacted, however as of this writing no response has been received.
------
ADM BENSON QUIN
PHONE : 612 340-5900
FAX : 612-335-2959
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Dated Account
Opened: January 26, 1993
Credit Limit: US$200,000.00
High Credit Utilized
Within Past 6 Months: US$166,184.00
Total Amount
Outstanding: US$166,184.00
Amount Current: US$166,184.00
Terms: 30 Days From Invoice Date
Date Of Last
Returned
Checks:
None
Rating: Excellent
Suppliers
Business: Retail
Suppliers
Products: Sunflowers
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DIRECT TRANSPORT INC
PHONE: 701-282-7066
FAX: 701-282-7344
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Date Account
Opened: October 1995
Credit Limit: US$200,000
High Credit Utilizer
Within Past 6 Months: US$170,000
Total Amount
Outstanding: US$58,152.00
Current
Terms: Net 30 Days
Average Days Beyond
Terms: 0
Date of Last
Rating: Excellent
Supplier Business
Activity: Service Company
Services
Provided:
Transportation
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PUBLIC RECORD
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
P.O.
Secured Parties:
WELLS
Filing Date:
5/12/2003
Filing Number:
030001113924
Filing Type: INITIAL
FILING
---------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
WELLS FARGO BANK
Filing Date:
6/14/2002
Filing Number:
020000457527
Filing Type: INITIAL
FILING
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address: SPECIALTY
COMMODITIES INC.
Secured Parties:
WELLS FARGO BANK
Filing Date:
6/11/2002
Filing Number:
020000450097
Filing Type: INITIAL
FILING
-------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC
Secured Parties:
WELLS FARGO BANK, NATIONAL ASSOCIATION
Filing Date:
1/9/2006
Filing Number:
06000291381
Filing Type:
AMENDMENT
Original Filing
Number: 02000053893
--------
Name Searched: SPECIALTY
COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC.
SPECIALTY
COMMODITIES INC.
Secured Parties:
WELLS FARGO BANK, N.A. WELLS FARGO BANK, N.A.
Filing Date: 10/13/2004
Filing Number:
04000208628
Filing Type:
AMENDMENT
Original Filing
Number: 02000045009
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC.
Secured Parties: WELLS
FARGO BANK, NATIONAL ASSOCIATION
Filing Date:
12/18/2006
Filing Number:
06000356341
Filing Type:
CONTINUATION
Original Filing
Number: 02000045009
---------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC
Secured Parties:
WELLS FARGO BANK, NATIONAL ASSOCIATION
Filing Date:
3/4/2007
Filing Number:
07000371299
Filing Type:
CONTINUATION
Original Filing
Number: 02000053893
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
P.O.
Secured Parties:
WELLS
Filing Date:
5/12/2003
Filing Number:
03000111392
Filing Type: INITIAL
FILING
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address: SPECIALTY
COMMODITIES, INC.
Secured Parties:
WELLS FARGO BANK
Filing Date:
7/1/2002
Filing Number:
02000048461
Filing Type: INITIAL
FILING
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
WELLS FARGO BANK
Filing Date:
6/14/2002
Filing Number:
02000045752
Filing Type: INITIAL
FILING
----------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC.
Secured Parties:
WELLS FARGO BANK
Filing Date:
6/11/2002
Filing Number:
02000045009
Filing Type: INITIAL
FILING
---------
Name Searched: SPECIALTY
COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
SHASKY TODD
Filing Date:
2/20/2003
Filing Number:
03000092849
Filing Type: INITIAL
FILING
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC.
SPECIALTY
COMMODITIES INC.
Secured Parties:
WELLS FARGO BANK, N.A. WELLS FARGO BANK, N.A.
Filing Date:
10/13/2004
Filing Number:
04000208628
Filing Type:
AMENDMENT
Original Filing
Number: 02000045009
---------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
WELLS FARGO BANK
Filing Date:
6/5/2002
Filing Number:
02000043930
Filing Type:
AMENDMENT
Original Filing
Number: 92000266913
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Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
NORWEST BANK
Filing Date:
5/29/2002
Filing Number:
02000042539
Filing Type:
CONTINUATION
Original Filing
Number: 92000266913
----------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
SATAKE USA INC.
Filing Date:
9/27/2004
Filing Number:
040002055961
Filing Type: INITIAL
FILING
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
WELLS FARGO BANK, NATIONAL ASSOCIATION
Filing Date:
3/19/2007
Filing Number:
07000374412
Filing Type:
AMENDMENT
Original Filing
Number: 02000045752
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address: SPECIALTY
COMMODITIES, INC.
Secured Parties:
WELLS FARGO BANK, NATIONAL ASSOCIATION
Filing Date:
3/19/2007
Filing Number:
07000374413
Filing Type:
CONTINUATION
Original Filing
Number: 02000045752
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC.
Secured Parties:
WELLS FARGO BANK, NATIONAL ASSOCIATION
Filing Date:
12/18/2006
Filing Number:
06000356337
Filing Type:
AMENDMENT
Original Filing Number:
02000045009
---------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC
Secured Parties:
WELLS FARGO BANK
Filing Date:
7/31/2002
Filing Number:
02000053893
Filing Type: INITIAL
FILING
---------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
SHASKY TODD
Filing Date:
2/20/2003
Filing Number:
030000928494
Filing Type: INITIAL
FILING
----------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES INC
Secured Parties:
WELLS FARGO BANK
Filing Date:
7/31/2002
Filing Number:
020000538934
Filing Type: INITIAL
FILING
--------
Name Searched:
SPECIALTY COMMODITIES INC.
Debtor Address:
SPECIALTY COMMODITIES, INC.
Secured Parties:
WELLS FARGO BANK
Filing Date:
7/1/2002
--
No bankruptcy petitions
were reported filed under the Subject's name.
GENERAL COMMENTS
Specialty
Commodities Inc. is a well established company, engaged as a wholesaler of
dried fruit, seeds and nuts. The payment record appears satisfactory and the
operating history is clear. Nothing of a negative nature was reported or noted.
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 |
|
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%)