MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
HOSIERY NETWORK,
INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
02/01/1997 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Wholesaler of
women's hosiery. |
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: HOSIERY
NETWORK, INC.
Trade Name(s): HNI
ACCESSORIES;
LEGLIFE
Address:
City:
State/Province:
Zip Code: 10001
Country: UNITED
STATES
Telephone: 212-967-3971
Facsimile: 212-967-3912
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 6
Legal Form: Corporation
- Private
Website: No
website found.
Opinion: up
to $10,000
Business Activity: Wholesaler of women's hosiery.
NOTE TO CLIENT
NOTE: The provided
name HNI ACCESSORIES is a trade style for HOSIERY NETWORK, INC., the Subject of
this report located at the heading address.
NOTE: Several
messages were left for the Company but we received no response to our inquiries
nor to a written request for general information sent via fax to the Company.
As such, information in this report cannot be confirmed. However, should we
receive additional information at a later time, this report will be updated
accordingly.
Amount
Requested: 1,500,000
The amounts requested
and advised are expressed in: USD
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 02/01/1997
State/Province of
Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT required
to publish an annual financial report.
NEW YORK SECRETARY
OF STATE:
Current Entity Name:
HOSIERY NETWORK, INC.
Initial DOS Filing
Date: JANUARY 02, 1997
County:
Jurisdiction:
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)
HOSIERY NETWORK,
INC.
715 AVENUE I
Registered Agent
NONE
NOTE:
Managers/Key
Personnel
Mr. Ely Cohen President
AFFILIATED ENTITIES
We are unaware of
any existing affiliates or subsidiaries.
BANKS
NY
Telephone:
Facsimile:
Account Number:
Account Manager:
We could not obtain
any bank information.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
FACTOR
07-03 00-00 VARIED 0 0
0 0 0
0 0
TEMP HELP
07-06 00-00 NET 7 1500 100
0 100 0 0 0
TELECOM
07-05 00-00 NET 30 200 100
100 0 0 0 0
AIR TRANS
05-11 05-05 UNK 1000 1000
0 0 0
0 100 CUST 18 YR
AIR TRANS
06-11 00-00 NET 30 0 0
0 0 0
0 0 CUST 13 YR
BUS SERVCS 04-11 04-09 NET 30 100
0 0 0
0 0 0
CELLUL/PAG 06-07 06-06 NET 30 300
0 0 0 0 0
0 CUST 5 YR
FREIGHT
05-01 03-09 VARIED 2100 600
100 0 0 0 0
GENERAL
05-02 01-03 NET 30 0 0
0 0 0
0 0 CUST
7 YR
OFFC SUPPL 06-03 97-10 CREDIT 1000
0 0 0
0 0 0
OFFC SUPPL 07-01 05-12 CREDIT 4000
0 0 0
0 0 0
CURRENT QUARTER 1700 200
11 89 0
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070600
0 6 22 700 2
74 24 0 0
20070500
0 6 11 800 61
22 17 0 0
20070400
0 6 15 200 19
76 0 5 0
20070300
0 6 5 200 77
18 5 0 0
20070200
0 6 9 200 79
0 21 0 0
20070100
0 7 5
100 69
31 0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2007 10 200 51
43 4 2 0
Fourth
2006 6 100 63
37 0 0 0
Third
2006 4 100 71
29 0 0 0
Second
2006 6
200 63 37 0 0 0
First
2006 4 100 71
29 0 0 0
FINANCIAL INFORMATION
We could not obtain
any financial information and outside sources provided no insight into the
financial condition of the Company.
CURRENT OPERATIONS
NAICS Code: 448
Clothing and Clothing Accessories Stores
Number of
Employees: 6
Business Activity:
Wholesaler of
women's hosiery.
The headquarters are
at the heading address and presumed to be the sole location of the Company.
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
The Subject is
engaged as an established wholesaler of women's hosiery. 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.
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%)