MIRA INFORM REPORT

 

 

Report Date :

2nd March, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

AUTOMATED BEDDING MACHINERY INTERNATIONAL, INC.

 

 

Registered Office :

18209 Chisholm Trail Suite 110, Houston, Texas 77060, United States.

 

 

Country :

United States

 

 

Date of Incorporation :

29.03.1995

 

 

Legal Form :

Corporation - Private

 

 

Line of Business :

Manufactures textile machinery.

 

 

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 : AUTOMATED BEDDING MACHINERY INTERNATIONAL, INC.

Trade Name(s)               : ABM International Inc.

Address                        : 18209 CHISHOLM TRAIL SUITE 110

City                              : HOUSTON                     

State/Province               : TEXAS                                 

Zip Code                       : 77060                       

Country                         : UNITED STATES               

Telephone                     : 281 443-4440                

Facsimile                      : 281 443-4404                

Legal Form                    : Corporation - Private

Website                        : www.abminternational.com

@rating Opinion :

Business Activity           : The Company manufactures textile machinery.

Founded (D/M/Y)           : /  /1947

As of                             :

Sales / Revenue :

Net Income                    :

Total Equity                   :

Number of Employees    : 57

 

 

NOTE TO CLIENT

 

ABM International Inc corresponds to a trade name for Automated Bedding Machinery International, Inc., for which a report follows.

 

Contact person: Mr. Neal Schwarzberger, President. Mr. Schwarzberger provided the information for this report.

 

 

LEGAL

 

Legal Form                                            : Corporation - Private                     

Since (D/M/Y)                                        : 29/03/1995

State/Province of Incorporation                : IL

Status                                                   : ACTIVE

Previous Legal Form:

Company is NOT required to publish an annual financial report.

The Company is incorporated in the state of Illinois.

 

Entity Name                              AUTOMATED BEDDING MACHINERY INTERNATIONAL, INC.

File Number                               58267171

Status                                       GOODSTANDING

Entity Type                                CORPORATION

Type of Corp                              DOMESTIC BCA

Incorporation Date (Domestic)     03/29/1995

State                                        ILLINOIS

Agent Name                              ALAN E RICHARDS

Agent Street Address                 175 E HAWTHORN PARKWAY STE 345

Agent City                                 VERNON HILLS

Agent Zip                                  60061

Agent Change Date                    07/24/2003

President Name &  Address        BARRY N SHORE 18209 CHISHOLM TRAIL HOUSTON T

77060

Secretary Name &  Address       BARRY N SHORE SAME

Duration Date                            PERPETUAL

Annual Report Filing Date           00/00/0000

For Year                                    2007

=================================================================

 

The Company is qualified in the state of Texas.

 

Company Information:     AUTOMATED BEDDING MACHINERY INTERNATIONAL INC

18209 CHISHOLM TRL STE 110

HOUSTON, TX 77060-1114

Status                           : IN GOOD STANDING NOT FOR DISSOLUTION OR WITHDRAWAL through May

  15, 2007

Registered Agent           : BARRY SHORE

  18209 CHISHOLM TRAIL SUITE 110

  HOUSTON, TX 77060

Registered Agent Resignation Date:

State of Incorporation     : IL

File Number                   : 0800353695

Charter/COA Date          : June 7, 2004

Charter/COA Type          : COA

Taxpayer Number           : 13644519533

 

 

Managers/Key Personnel

 

Mr. Neal Schwarzberger                         President

Mr. Joel Pedowski                                              Vice President

 

 

AFFILIATED ENTITIES

 

There are no affiliated companies or subsidiaries.

 

 

BANKS

 

Bank of America

 

TX

Telephone: 281 874-6150

Facsimile: 281 875-3908

Account Number:

Account Manager: Sandy Ward

We have sent a fax to the bank. The report will be updated when we receive a response from the bank.

 

 

PAYMENT HISTORY

 

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

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

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

 AIR TRANS  06-11 00-00 NET 30  1300     500      100 0   0   0   0   CUST  7 YR

 BANK       07-01 06-12 CONTRCT 185000   15100    100 0   0   0   0   CUST  1 YR

 

 FINCL SVCS 07-02 07-02 CONTRCT 48700    1600     100 0   0   0   0   CUST  5 YR

 FINCL SVCS 07-02 07-01 CONTRCT 2400     0        0   0   0   0   0   CUST 14 YR

 PACKAGING  07-01 06-12 NET 30  900      400      100 0   0   0   0   CUST  3 YR

 COMPUTERS  05-08 00-00 SPECIAL 0        0        0   0   0   0   0   CUST  7 YR

 COMPUTERS  04-02 00-00 NET 30  0        0        0   0   0   0   0

 FINCL SVCS 06-03 06-02 CONTRCT 0        0        0   0   0   0   0   SATSFTRY

 FINCL SVCS 06-08 06-06 CONTRCT 0        0        0   0   0   0   0   SATSFTRY

 LEASING    07-01 00-00 CONTRCT 4400     1700     100 0   0   0   0   CUST  1 YR

 MED EQUIP  06-06 00-00 NET 30  5200     0        0   0   0   0   0   CUST  2 YR

 TRANSPORTN 04-06 04-06 VARIED  0        0        0   0   0   0   0

 TRANSPORTN 06-08 00-00 NET 30  0        0        0   0   0   0   0   CUST <  1 Y

 WIRE& CABLE 05-10 00-00 NET 30  400      100      100 0   0   0   0

 CURRENT QUARTER                235900   17600    100 0   0   0   0

 

 Payment Trends

 

            INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

 DATE      CUR    DBT       DBT             $      %  30  60  90  91+

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

 20070200  0      9         0            19200    100 0   0   0   0

 20070100  0      7         0            18900    99  1   0   0   0

 20061200  0      7         0            105700   100 0   0   0   0

 20061100  0      6         0            105300   100 0   0   0   0

 20061000  0      5         0            88300    100 0   0   0   0

 20060900  0      6         0            7400     100 0   0   0   0

 

 Payment History - Quarterly Averages

 

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

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

 Fourth   2006              0            76600    100 0   0   0   0

 Third    2006              0            34600    100 0   0   0   0

 Second   2006              0            9500     100 0   0   0   0

 First    2006              5            13400    91  2   2   5   0

 Fourth   2005              2            16000    93  4   2   1   0

 

 

FINANCIAL INFORMATION

 

Mr. Schwarzberger declined to provide the Company's financials.

 

 

HISTORY

 

The Company was founded by Arthur Schwarzberger in 1947 in Chicago Illinois, when Mr. Schwarzberger developed a sewing concept for quilting machines that could crossover sewing lines. Mr. Schwarzberger refined his concept and began manufacturing mechanical track quilting machines for the comforter, bedspread and mattress markets.

 

After over 60 years in Illinois, the Company recently relocated to Texas, in 2004.

 

 

CURRENT OPERATIONS

 

NAICS Code:   333292    Textile Machinery Manufacturing

SIC Code:     3552

 

Number of Employees:              57

 

 

Business Activity

 

The Company manufactures textile machinery.

The Subject specializes in manufacturing machinery for a variety of industries.

 

Some of the machinery the Company builds include; quilting machines, single needle  quilting machines Panel Cutters, Bagging Machines, Packaging Machines, Long Arm Sewing Machines, and Computerized Quilting Machines for the quilting industry.

 

The heading address is the sole location for the Company. The facility, consisting of manufacturing, sales, and corporate offices, is leased and is approximately 40,000 square feet.

 

 

PUBLIC RECORD

 

The following legal filing was found against the Company:

 

Party Address   : 15226 RIPPLEWIND LN

  HOUSTON, TX 77068

Amount             : $ 5,165

 

Creditor             : DADE BEHRING INC

Debtors             : ABM INTERNATIONAL

Entered             : 10/15/2002

Number             : 778109

Type                 : CIVIL JUDGMENT

 

A search of bankruptcy courts revealed no record of the Subject filing for bankruptcy.

 

 

 

GENERAL COMMENTS

 

The Company manufactures textile machinery. Payment history indicates that the Subject is efficient with its payments. The Company has one civil judgement outstanding, and no of bankruptcy filing was reported by the Company. The Company is considered to be 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