MIRA INFORM REPORT

 

 

Report Date :

27th February, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

FARBE, INC.

 

 

Registered Office :

1420 East Walnut Avenue, Fullerton , California  92831, United States

 

 

Country :

United States

 

 

Date of Incorporation :

08.08.1994

 

 

Legal Form :

Corporation - Private

 

 

Line of Business :

Manufacturer and Distributor of towel and linen products to the wholesale and institutional textile markets.

 

 

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 : FARBE, INC.

Trade Name(s)               : International Trading Co. ITC

Address                        : 1420 EAST WALNUT AVENUE

City                              : FULLERTON                   

State/Province               : CALIFORNIA                           

Zip Code                       : 92831                       

Country                         : UNITED STATES               

Telephone                     : 714 680-9876                

Facsimile                      : 714 680-8911                

Legal Form                    : Corporation - Private

Website                        : www.itclinens.com

@rating Opinion :

Business Activity           : The Subject is a manufacturer and distributor of towel and linen products to the

                                      wholesale and institutional textile markets.

Founded (D/M/Y)           :      /  /1974

As of                             :

Sales / Revenue :

Net Income                    :

Total Equity                   :

Number of Employees    :       6

 

 

NOTE TO CLIENT

 

Person contacted: Mr. Firoze Fakhri, President.

 

NOTE: Mr. Fakhri declined to confirm or provide information by phone.

He requested that we email him an information request, which was done.

As of this writing we have not received any reply to our request.

 

 

LEGAL

 

Legal Form                                : Corporation - Private                    

Since (D/M/Y)                            : 08/08/1994

State/Province of Incorporation    : CA

Status                                       : ACTIVE

Previous Legal Form:

Company is NOT required to publish an annual financial report.

 

FARBE, INC.

Number             : C1748790

Date Filed         : 8/8/1994

Status               : active

Jurisdiction        : California

Address

1420 E WALNUT AVE

FULLERTON, CA 92831

Agent for Service of Process

FIROZE FAKHRI

319 ELMHURST PL

FULLERTON, CA 92835

The Subject has a fictitious name under the following registration:

 

Name                : INTERNATIONAL TRADING CO

Address            : 1420 E WALNUT, FULLERTON, CA 92831

County              : ORANGE

Phone               : 714-680-9876

FILING INFORMATION

Filing Date                     : 04/25/2002

Identification Number      : 20026901078

Business Type               : BLANK OR UNKNOWN

OWNER INFORMATION

Name                : FARBE INC

Address            : 1420 E WALNUT FULLERTON CA 92831

 

 

Managers/Key Personnel

 

Mr. Firoze Fakhri                                   President

Ms. Jameela Fakhri                                Director

 

 

AFFILIATED ENTITIES

 

There are no known affiliates at this time.

 

 

BANKS

 

CA

Telephone:

Facsimile:

Account Number:

Account Manager:

Bank details could not be obtained.

 

 

PAYMENT HISTORY

 

 BUSINESS   DATE  LAST  PAYMENT CREDIT   BALANCE  CUR 1-  31- 61-

 CATEGORY   REPTD SALE  TERMS      $        $      %  30  60  90  91+ COMMENTS

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

 AIR TRANS  05-02 00-00         100      100      100 0   0   0   0

 CRED CARD  06-09 00-07 N30PRXO 200      0        0   0   0   0   0   CUST  8 YR

 

 PACKAGING  06-01 03-02 NET 30  100      0        0   0   0   0   0

 TRANSPORTN 04-10 04-09 VARIED  900      200      0   45  55  0   0

 

 

FINANCIAL INFORMATION

 

Mr. Fakhri would not discuss the Subject at this time. Outside sources estimate sales in the $1 million US Dollar range, however this could not be confirmed.

 

 

CURRENT OPERATIONS

 

NAICS Code:   812331    Linen Supply

SIC Code:     7213

 

Number of Employees:               6

 

 

Business Activity

 

The Subject is a manufacturer and distributor of towel and linen products to the wholesale and institutional textile markets.

 

Customers of the Subject include entities engaged in the healthcare, hospital, lodging, beauty care, hospitality, janitorial, sportswear and home covering products markets.

 

There are no known branch locations. The heading address is reported to be a 600,000 square foot facility, we could not determine if it is owned or leased.

 

 

PUBLIC RECORD

 

We found no public record filings in the Subject's name, including bankruptcy or other such derogatory filings.

 

 

GENERAL COMMENTS

 

The Subject's history dates back to 1974, they were registered in 1994. The payment history of the Company is brief but generally satisfactory, the operating record is clear. No derogatory information was reported or noted. The Company is considered responsible for normal business transactions.

 

 

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