MIRA
INFORM REPORT
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Report Date : |
11.05.2007 |
IDENTIFICATION DETAILS
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Name : |
STAR GEMS INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
29/01/1993 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Engaged as a loose
diamond importer and jewelry manufacturer. |
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: STAR
GEMS INC.
Address:
City:
State/Province:
Zip Code: 60602
Country: UNITED
STATES
Telephone: 312-443-1590
Facsimile: 312-443-8013
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
4
Legal Form: Corporation - Private
Website: www.stargems.com
Business Activity: The Subject is engaged as a loose
diamond importer and jewelry manufacturer.
NOTE TO CLIENT
Ms. Priti Shah,
Manager, declined to provide information regarding the Company, deferring our
request to Mr. Anish Desai, CEO who will not be in the office until next week.
As such general information in this report cannot be substantiated however
should we receive additional information from the Company at a later time, this
report will be updated accordingly.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 29/01/1993
State/Province of
Incorporation: IL
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
ILLINOIS SECRETARY
OF STATE:
Entity Name STAR GEMS INC.
File Number 57163925
Status GOODSTANDING
Entity Type
CORPORATION
Type of Corp
DOMESTIC BCA
Incorporation Date
(Domestic) 01/29/1993
State
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GEORGIA SECRETARY OF
STATE:
STAR GEMS INC.
Control No.: K607388
Status:
Active/Compliance
Entity Creation
Date: 2/23/1996
Principal Office
Address: 1832
DUNWOODY GA
30338-5150
Last Annual
Registration Filed Date: 3/13/2007
Last Annual
Registration Filed: 2007
Managers/Key
Personnel
Mr. Anish Desai Chief Executive Officer
Mr. Vilas Jain President
Ms. Priti Shah Manager
AFFILIATED ENTITIES
As far as could be
determined, there are 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
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
ADVERTISNG 07-04 00-00 NET 30 0
0 0 0 0 0
0 CUST 4 YR
AIR TRANS
07-03 07-03 0000000 5900
1200 100 0 0
0 0 CUST 17 YR
BANK
07-04 07-03 CONTRCT 50300
40700 100 0 0
0 0
PACKAGING
07-04 00-00 NET 30 0 0
0 0 0
0 0 CUST
2 YR
WAREHOUSE
07-04 06-10 VARIED 1400 0
0 0 0
0 0 CUST
3 YR
GENERAL
05-02 03-01 NET 30 0 0
0 0 0
0 0 CUST
8 YR
MANUFCTRNG 06-10 00-00 CERTCHK 0 0
0 0 0
0 0
OFFC SUPPL 05-11 00-03 CREDIT 0
0 0 0
0 0 0
CUST 10 YR
CURRENT QUARTER 57600 41900
100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE CUR
DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070400
0 4 0 41600 100 0
0 0 0
20070300
0 5 0 43600 100 0
0 0 0
20070200
0 5 0 44600 100 0
0 0 0
20070100
0 5 0 45600 100 0
0 0 0
20061200
0 5 0 47800 100 0
0 0 0
20061100
0 5 0
48500 99
1 0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2007 0 43300 100 0
0 0 0
Fourth
2006 0 47300 100 0
0 0 0
Third
2006 0 49200 100 0
0 0 0
Second
2006 0 45900 100 0
0 0 0
First
2006 0 44000 100 0
0 0 0
FINANCIAL INFORMATION
We could not obtain
any financial information from Management. Outside sources indicate an annual
net sales figure of US$580,000.
CURRENT OPERATIONS
NAICS Code: 339911
Jewelry (except Costume) Manufacturing
SIC Code: 3911
NAICS Code: 42194
Jewelry, Watch, Precious Stone and Precious Metal
Number of
Employees: 4
Business Activity:
The Subject is
engaged as a loose diamond importer and jewelry manufacturer. Products include bracelets, rings, earrings,
pendants, etc, which are distributed to over 700 independent retailers
nationwide.
The heading address
is the Company's headquarters where it oversees day-to-day operations. We could
not ascertain whether the facility is owned or leased nor the square footage of
the space. The Company's website reports one branch location in
PUBLIC RECORD
The following civil
suit was filed against the Company:
Name Searched: STAR
GEMS INC.
Amount: $ 400,000.00
Attorney: PRO SE
Case Name: ANAND
SHETH v. VILAS JAIN, et al.
Case Number: 04L
0007186
Defendant: VILAS
JAIN
STAR GEMS INC
DOE JOHN
Filing Date:
6/25/2004
Plaintiff: ANAND
SHETH
Type: CIVIL SUIT -
PERSONAL INJURY/WRONGFUL DEATH - 063 INTENTIONAL TORT
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No bankruptcy
petition was filed by the Subject.
GENERAL COMMENTS
An established Company,
the Subject is engaged as an importer of loose diamonds and a manufacturer of
fine jewelry. Payment are considered to be generally satisfactory and a search
of public records found one civil suit filed against the Company the details of
which are unknown. A search of bankruptcy courts returned no 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%)