MIRA
INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CURE INTERNATIONAL, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
10/06/1996 |
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Legal Form : |
Non-Profit Corporation |
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Line of Business : |
The Subject establishes teaching hospitals in the developing world for
medical and spiritual healing of disabled children and their families. |
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: CURE INTERNATIONAL, INC.
Address:
P.O.
City: LEMAYNE
State/Province:
Zip Code: 17043
Country: UNITED STATES
Telephone: 717-730-6706
Facsimile: 717-730-6747
As of: 30/06/2006
Sales / Revenue: 16,977,752
Net Income: - 27,822
Total Equity: 38,988,831
Legal Form: Non-Profit Corporation
Website: www.curenetcomm.org
Business Activity: The
Subject establishes teaching hospitals in the developing world for medical and
spiritual
healing of disabled children and their families.
NOTE TO CLIENT
NOTE: Several messages were left via telephone for Mr. Mark Knecht,
Chief Financial Officer. We received no response to our telephone inquiries nor
to a detailed written request that was sent to Mr. Knecht via fax. As such,
general information in this report cannot be substantiated. However, should we
receive a response at a later time,
this report will be updated accordingly.
NOTE: Number of employees could not be ascertained via Management. An
outside source reports an employee range of 21-100.
LEGAL
Legal Form: Non-Profit
Corporation
Since (D/M/Y): 10/06/1996
State/Province of Incorporation: DE
Status: ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
DELAWARE SECRETARY OF STATE:
File Number: 2632814
Incorporation Date / Formation Date: 06/10/1996
Entity Name: CURE INTERNATIONAL, INC.
Entity Kind: CORPORATION
Entity Type: GENERAL
Residency:
State: DE
REGISTERED AGENT
INFORMATION
Name: REGISTERED AGENTS, LTD.
Address:
City:
State: DE Postal Code: 19801
Phone: (302)421-5750
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NO QUALIFICATION INFORMATION WITH THE PENNSYLVANIA SECRETARY OF STATE.
Managers/Key
Personnel
Mr. Scott Harrison
President & CEO
Mr. Craig Hammon
Executive Vice
President
Mr. Mark Bush
Chief Operating Officer
AFFILIATED ENTITIES
The Company's website reports no affiliates or subsidiaries.
BANKS
Commerce Bank
PA
Telephone:
Facsimile:
Account Number: 6027048
Account Manager:
Requires a signed authorization which we could not obtain from the
Subject.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-03 00-00 0000000 500
200 100 0 0
0 0 CUST
8 YR
OFFC SUPPL 07-04 07-04 NET 500
200 100 0 0
0 0 CUST
3 YR
AIR TRANS
06-11 00-00 NET 30 100 0
0 0 0
0 0 CUST
6 YR
COMPUTERS
07-01 00-00 CREDIT 15200 200
100 0 0 0 0
MED EQUIP
06-07 04-12 NET 30 29100 0
0 0 0
0 0 CUST
3 YR
PACKAGING
04-09 00-00 NET 30 0 0
0 0 0
0 0 CUST
3 YR
TELECOM
06-10 00-00 ROI 100 0
0 0 0
0 0 CUST
4 YR
CURRENT QUARTER 1000
400 100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
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--- --- --- -------- --- --- --- --- ---
20070500
0 9 0 400 100 0
0 0 0
20070400
0 10 0 200 100 0
0 0 0
20070300
0 10 0 400 100 0
0 0 0
20070200
0 10 0 800 100 0
0 0 0
20070100
0 9 0 400 100 0
0 0 0
20061200
0 9 0 400 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE
CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2007 0 500 100 0
0 0 0
Fourth
2006 0 400 100 0
0 0 0
Third
2006 0 400 100 0
0 0 0
Second
2006 0 0 0
0 0 0 0
First
2006 0 0 0
0 0 0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 30/06/2006 30/06/2005 30/06/2005
Consolidated Consolidated
Sales / Revenues 16,977,752 15,378,575 -
RESULTS
Net Income -27,822 27,103 -
ASSETS
Cash and Equivalents 3,186,225 3,133,532 -
Inventory 1,200,265 30,000 -
Accounts Receivables 491,672 1,234,375 -
Other Current Assets 1,316,330 145,924 -
Total Current Assets 6,635,170 4,592,166 -
Other Fixed Assets 11,396,132 4,188,246 -
Total Fixed Assets 34,569,890 21,489,138 -
Total Assets 41,205,060 26,081,304 -
LIABILITIES
Trade Creditors 2,216,229 304,170 -
Total Current Liab 2,216,229 304,170 -
Total Liabilities 2,216,229 304,170 -
EQUITY
Total Equity 38,988,831 25,777,134 -
FINANCIAL ANALYSIS
Actual Previous Percentage of total assets
30/06/2006 30/06/2005 30/06/2006
30/06/2005
Cash and Equivalents 3,186,225 3,133,532 7.73 12.01
Inventory 1,200,265 30,000 2.91 0.12
Other Current Assets 1,316,330 145,924 3.19 0.56
Total Current Assets 6,635,170 4,592,166 16.10 17.61
Total Assets 41,205,060 26,081,304 100.00
100.00
Total Current Liab 2,216,229 304,170 5.38 1.17
Total Liabilities 2,216,229 304,170 5.38
1.17
Total Equity 38,988,831 25,777,134 94.62 98.83
The above financial figures (given in actual USD) were obtained from the Subject's financial statements on their website.
CURRENT OPERATIONS
NAICS Code: 81219 Other Personal Care Services
Business Activity:
The Subject establishes teaching hospitals in the developing world for
medical and spiritual healing of disabled children and their families.
Within their network of hospitals, the Subject has established
facilities in eight locations:
The headquarters are at the above-noted address. The Company has
additional locations worldwide.
TRADE REFERENCES
TEL: 814-833-3023
OPENED: 7+ YEARS
NO CREDIT LIMIT
HIGHEST INVOICE: $20,000
CUSTOMER PAYS BY CHECK
ALWAYS PROMPT
TERMS: NET 30
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Each company has been contacted; however, it often takes a few days
before a response is received. Additional information received will be
forwarded at that time.
BKA LOGISTICS INC.
TEL: 202-331-7395
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INTERNATIONAL AOD
TEL: 616-846-2490
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The provided number for the following vendor is out of service:
WORLDWIDE LAB IMPROVEMENT
TEL: 616-323-8407
PUBLIC RECORD
A Nationwide search of public and bankruptcy courts revealed no Uniform
Commercial Codes, tax liens, legal actions or bankruptcy filings under the
Subject's name.
GENERAL COMMENTS
An established non-profit organization, the Subject establishes teaching
hospitals in the developing world for medical and spiritual healing of disabled
children and their families. Payment records 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 to be
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%)