MIRA INFORM REPORT

 

 

Report Date :

28th February, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

DIVOTS SPORTSWEAR CO., INC.

 

 

Registered Office :

5903a Peachtree Industrial,Boulevard, Norcross, Georgia 30092, United States

 

 

Country :

United States

 

 

Date of Incorporation :

11.02.1977

 

 

Legal Form :

Corporation - Private

 

 

Line of Business :

Engaged as a retailer of men's golf sportswear and apparel.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

 

IDENTIFICATION & EXECUTIVE SUMMARY

 

Company Name : DIVOTS SPORTSWEAR CO., INC.

Address                        : 5903A PEACHTREE INDUSTRIAL,BOULEVARD

City                              : NORCROSS

State/Province               : GEORGIA                              

Zip Code                       : 30092                       

Country                         : UNITED STATES               

Telephone                     : 770-447-4800                

Facsimile                      : 770-448-3244                

Legal Form                    : Corporation - Private

Website                        : www.divots.com

@rating Opinion :

Business Activity           : The Company is engaged as a retailer of men's golf sportswear and apparel.

As of                             :

Sales / Revenue :

Net Income                    :

Total Equity                   :

Number of Employees    : 21

 

 

NOTE TO CLIENT

 

Attempts were made to contact the Company however we were unable to reach Management. There has been no response to several attempts made to contact the Subject. Therefore, general information in this report cannot be substantiated.

 

 

LEGAL

 

Legal Form                                            : Corporation - Private                   

Since (D/M/Y)                                        : 11/02/1977

State/Province of Incorporation                : GA

Status                                                   : ACTIVE

Previous Legal Form:

Company is NOT required to publish an annual financial report.

The Company is incorporated in the state of Georgia:

 

DIVOTS SPORTSWEAR CO., INC.

Profit Corporation - Domestic - Information

Control No.                                            : H701294

Status                                                   : Active/Owes Current Year AR

Entity Creation Date                               : 2/11/1977

Jurisdiction                                            : GA

Principal Office Address                         : 5903A PEACHTREE IND. BLVD

              NORCROSS GA 30092

Last Annual Registration Filed Date         : 1/26/2006

Last Annual Registration Filed                 : 2006

 

Registered Agent

Agent Name      : FRIEDMAN, ROBERT A.

Office Address   : 5903A PEACHTREE IND. BLVD, NORCROSS GA 30092

Agent County    : GWINNETT

 

 

Managers/Key Personnel

 

Mr. Robert Friedman                              Chief Executive Officer

Mr. Joel Stein                                        Controller

 

 

AFFILIATED ENTITIES

 

The Company's website reports no affiliates or subsidiaries.

 

 

BANKS

 

GA

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 SALE  TERMS      $        $      %  30  60  90  91+ COMMENTS

 ---------- ----- ----- ------- -------- -------- --- --- --- --- --- --------

 ADVERTISNG 07-02 00-00 NET 30  0        0        0   0   0   0   0   CUST  3 YR

 AIR TRANS  06-11 06-10 0000000 1300     300      41  59  0   0   0   CUST 23 YR

 

 AIR TRANS  06-11 00-00 NET 30  400      0        0   0   0   0   0   CUST  7 YR

 APPAREL    07-02 07-01 NET 30  5600     600      100 0   0   0   0   15 DYS SLO

 APPAREL    06-12 06-11 NET 45  6500     500      21  0   0   0   79  CUST  3 YR

 APRL MENS  07-01 06-11 NET 30  4000     0        0   0   0   0   0   APRL MENS

 APRL DISTR 07-01 07-02 NET 30  59500    11000    93  0   7   0   0   CUST 93 YR

 APRL DISTR 07-02 00-00 CASH    0        0        0   0   0   0   0   CUST 17 YR

 BUS SERVCS 07-02 00-00 NET 30  100      100      100 0   0   0   0

 CHEMICALS  07-02 00-00 NET 30  200      100      0   100 0   0   0

 FACTOR     06-12 00-00 VARIED  0        0        0   0   0   0   0

 FINCL SVCS 07-02 07-02 CONTRCT 0        0        0   0   0   0   0   SATSFTRY

 FOOD DISTR 07-02 99-10 COD     2100     0        0   0   0   0   0   CUST  8 YR

 TELECOM    07-02 00-00 NET 30  100      100      100 0   0   0   0

 ADV MEDIA  04-11 00-00 VARIED  0        0        0   0   0   0   0

 APPAREL    04-11 98-04 CWO     0        0        0   0   0   0   0

 FACTOR     05-05 04-04 VARIED  400      100      100 0   0   0   0

 FINCL SVCS 06-03 06-03 CONTRCT 0        0        0   0   0   0   0   SATSFTRY

 GIFTWARE   05-08 00-00 NET 30  0        0        0   0   0   0   0   CUST  5 YR

 LEASING    05-10 00-00 CONTRCT 1000     1000     100 0   0   0   0

 PACKAGING  04-09 00-00 NET 30  0        0        0   0   0   0   0   CUST  4 YR

 TRANSPORTN 04-10 04-09 VARIED  100      100      0   100 0   0   0

 TRANSPORTN 06-09 00-00 NET 30  2600     1000     100 0   0   0   0   PROMPT

 TRUCK DLR  04-04 00-00 CONTRCT 0        0        0   0   0   0   0

 CURRENT QUARTER                79800    12700    89  2   6   0   3

 

 Payment Trends

 

            INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

 DATE      CUR    DBT       DBT             $      %  30  60  90  91+

 --------  ---    ---       ---          -------- --- --- --- --- ---

 20070200  0      7         6            12000    90  1   6   0   3

 20070100  0      7         36           10200    28  2   61  5   4

 20061200  0      7         41           38600    7   3   90  0   0

 20061100  0      6         44           36000    2   1   97  0   0

 20061000  0      6         42           36900    5   3   92  0   0

 20060900  0      7         12           4400     50  36  13  0   1

 

 Payment History - Quarterly Averages

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

 -------- ------            ---          -------- --- --- --- --- ---

 Fourth   2006              42           28100    7   2   90  1   0

 Third    2006              33           16200    22  7   71  0   0

 Second   2006              5            8000     78  20  0   2   0

 First    2006              4            8900     80  18  1   1   0

 Fourth   2005              11           19600    50  40  10  0   0

 

 

FINANCIAL INFORMATION

 

We could not obtain any financial information from Management. Outside sources indicate an annual net sales figure of US$3.1 million.

 

 

CURRENT OPERATIONS

 

NAICS Code:   4481      Clothing Stores

 

Number of Employees:              21

 

 

Business Activity

 

The Company is engaged as a retailer of men's golf sportswear and apparel.

 

The headquarter's are at the above-noted address. The Company's website does not report any branch locations or divisions.

 

 

PUBLIC RECORD

 

The following Uniform Commercial Code was filed by the Company:

 

UNIFORM COMMERCIAL CODE REPORT

Information Current Through        : 00-00-0000

Database Updated                     : 04-07-2006

 

Update Frequency          : Weekly

Current Date                  : 02/27/2007

Source                          :  GA SECRETARY OF STATE

FILING INFORMATION

Filing Number                            :  6706011801

Filing Date                                 :  11/20/2006

Filing Type                                :  TERMINATION

Filing Date of Related Filing        :  02/17/2004

Filing Office                               :  GWINNETT COUNTY SUPERIOR COURT CLERKS OFFICE

75 LANGLEY DRIVE RM 1E350

LAWRENCEVILLE, GA 30045

DEBTOR INFORMATION

Debtor(s)           :  DIVOTS SPORTSWEAR COMPANY, INC.

--------------------------------------------------------------------------------

A search of bankruptcy courts revealed no record of the Company filing for bankruptcy

 

 

GENERAL COMMENTS

 

The Subject is engaged as a well-established retailer of men's golf sportswear and apparel. Payment 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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions