MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SELECTIVE WINE
ESTATES, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20/04/1995 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Importer of wine
that sells to wholesalers throughout the |
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 : |
Usually correct |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: SELECTIVE
WINE ESTATES, INC.
Address:
City:
State/Province: NEW
Zip Code: 09636
Country: UNITED
STATES
Telephone: 973
515-2301
Facsimile: 973
515-9061
As of: 26/06/2007
Sales /
Revenue: 337,482
Net Income: 109,714
Total Equity: 337,482
Number of
Employees: 1
Legal Form: Corporation
- Private
Website: No
website available
Maj.
Shareholder: Mr. Michael J. Cincotta
Business Activity: The Subject is an importer of wine that
sells to wholesalers throughout the
NOTE TO CLIENT
Contacted Mr.
Michael Cincotta, President, who provided all information for this report.
LEGAL
Legal Form: Corporation –
Private
Since (D/M/Y): 20/04/1995
State/Province of
Incorporation: NJ
Status: ACTIVE
Previous Legal
Form: None
Company is NOT
required to publish an annual financial report.
Business Name:
SELECTIVE WINE ESTATES, INC.
Business ID Number:
0100624162
Business Type:
DOMESTIC PROFIT CORPORATION
Status: ACTIVE
Filing Date:
04/20/1995
Home Jurisdiction:
NJ
Status Change
Date: Stock Amount: 1000
Annual Report Month:
4
Last Annual Report
Filed: 02/16/2007
For Last Annual Report
Paid Year: 2007
Incorporator: LENORE
K HODES
Agent: MICHAEL J
CINCOTTA
Office Address
Status: Deliverable
Main Business
Address:
Managers/Key
Personnel
Mr. Michael
Cincotta President
OWNERS
Mr. Michael J.
Cincotta % Majority
AFFILIATED ENTITIES
Management reported
no affiliates or subsidiaries.
BANKS
Bank of
Telephone:
Facsimile:
Account Number:
161108021
Account Manager:
Balance: 20,565,162
on (D/M/Y): 28/06/2007
Account open: May 1995
Average balance: $205,651.62
PAYMENT HISTORY
The firm is not a
large seeker of local trade credit as a significant payment record could not be
developed.
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 26/06/2007 26/06/2007 26/06/2007
Consolidated
Sales / Revenues 337,482 - -
Operating Income (Loss) - -
RESULTS
Income before Taxes 479,478 - -
Net Income 109,714 - -
ASSETS
Cash and Equivalents 263,451 - -
Inventory 45,982 - -
Accounts Receivables 157,447 - -
Other Current Assets 3,798 - -
Total Current Assets 470,678 - -
Property Plant & Equip 8,800 - -
Total Fixed Assets 8,800 - -
Total Assets 479,478 - -
LIABILITIES
Trade Creditors 141,996 - -
Total Current Liab 141,996 - -
Total Long Term Liab - -
Total Liabilities 141,996 - -
EQUITY
Total Equity 337,482 - -
FINANCIAL ANALYSIS
Actual Previous Percentage of total assets
26/06/2007 26/06/2007 26/06/2007
26/06/2007
Cash and Equivalents 263,451 0 54.95 54.95
Inventory 45,982 0 9.59 9.59
Other Current Assets 3,798 0 0.79 0.79
Total Current Assets 470,678 0 98.16
98.16
Total Assets 479,478 0 100.00
100.00
Total Current Liab 141,996 0 29.61 29.61
Total Liabilities 141,996 0 29.61 29.61
Total Equity 337,482 0 70.39 70.39
CURRENT OPERATIONS
NAICS Code: 31213
Wineries
SIC Code: 2084
NAICS Code: 421
Wholesale Trade, Durable Goods
Number of
Employees: 1
Business Activity:
The Subject is an
importer of wine that sells to wholesalers throughout the
TRADE REFERENCES
Western Carriers
508-756-4181
JF Hillebrand
732-388-0101
John Howard
503-233-4277
We have contacted
the above suppliers, which have not responded as yet. In the event a response
is received, the information will be forwarded on immediately.
PUBLIC RECORD
Nothing adverse was found
against the Subject.
A search of
bankruptcy courts revealed no record of a Company by this name filing for
bankruptcy.
GENERAL COMMENTS
The Subject is well
established importer of wine, operating since 1995. A significant payment
history could not be developed. 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. Thus, the Company is considered
responsible for normal business transactions.
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%)