MIRA
INFORM REPORT
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Report Date : |
12.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SEALASKA TIMBER
CORPORATION |
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Registered Office : |
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Country : |
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Date of Incorporation : |
04/01/1980 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Supplier of wood,
logs and timber. |
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: SEALASKA
TIMBER CORPORATION
Address:
City:
State/Province:
Zip Code: 99901
Country: UNITED
STATES
Telephone: 907
225-9444
Facsimile: 907
247-9444
As of:
Sales / Revenue:
Net Income:
Total Equity:
Legal Form: Corporation - Private
Website: www.sealaskatimber.com
Business
Activity: Supplier of wood, logs, and timber.
NOTE TO CLIENT
NOTE: The provided
address,
Mr. Jeffrey Eiseman,
Controller, declined to provide information regarding the Subject. Thus,
general information in this report cannot be substantiated.
NOTE: An employee
count for the Company could not be determined via Management or all outside
sources consulted.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 04/01/1980
State/Province of
Incorporation: AK
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
ALASKA SECRETARY OF
STATE:
SEALASKA TIMBER
CORPORATION
Business Corporation
Information
AK Entity #: 21070D
Status: Active -
Good Standing
Entity Effective Date:
01/04/1980
Primary NAICS Code:
Principal Office
Address:
Expiration
Date: Perpetual
Last Biennial Report
Filed Date: 1/20/2006
Last Biennial Report
Filed: 2006
Biennial Report
Month:
Registered Agent
Agent Name: Simpson,
Tillinghast & Sorensen, P.C.
Office Address: ONE
SEALASKA PLAZA
Mailing Address:
Principal Office
Address:
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SEALASKA TIMBER
CORPORATION
UBI Number 601147197
Category Regular
Corporation
Profit/Nonprofit
Profit
Active/Inactive
Active
Date of
Incorporation 08/22/1994
License Expiration
Date 08/31/2007
Agent Name ROSSER
STEVENS
Address
Managers/Key
Personnel
Mr. Jeffrey
Eiseman Controller
Mr. Douglas
Morris Vice President - Finance
Mr. Wade Zammit President & CEO
Parent Companies
Parent Company: Sealaska Corporation
AK
UNITED STATES
BANKS
AK
Telephone:
Facsimile:
Account Number:
Account Manager:
Management declined
to provide 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
ADVERTISNG 07-04 05-09 0000000 0 0
0 0 0
0 0
AIR TRANS
07-03 00-00 0000000 200
100 100 0 0 0 0
CUST 10 YR
AIR TRANS
07-03 04-07 NET 30 10000 900
100 0 0 0
0 CUST 27 YR
BUS SERVCS 07-04 00-00 VARIED 500
100 100 0 0
0 0
FINCL SVCS 07-04 06-12 CONTRCT 1700 0
0 0 0
0 0 CUST
5 YR
AIR TRANS
06-11 00-00 NET 30 1500 100
100 0 0 0
0 CUST 19 YR
COMMUN SVC 04-12 00-00 0 0
0 0 0
0 0
COMPUTERS
06-06 06-05 0000000 11500
2200 0 32
68 0 0
NEWSPAPERS 05-02 00-00 NET 15 2400
2400 100 0 0
0 0
CURRENT QUARTER 12400 1100
100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
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--- --- --- -------- --- --- --- --- ---
20070400
0 2 0 1000 100 0
0 0 0
20070300
0 2 0 1600 100 0
0 0 0
20070200
0 2 0 1800 100 0
0 0 0
20070100
0 3 5 8100 68
32 0 0 0
20061200
0 4 0 5900 100 0
0 0 0
20061100
0 2 0 2400 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2007 0 1500 100 0
0 0 0
Fourth
2006 2 5500 84
16 0 0 0
Third
2006 0 2900 100 0
0 0 0
Second
2006 0 2200 100 0
0 0 0
First
2006 0 3700 100 0
0 0 0
FINANCIAL INFORMATION
Management declined
to provide any financial information and outside sources could not provide any
insight into the financial status of the Subject.
CURRENT OPERATIONS
NAICS Code: 42131
Lumber, Plywood, Millwork and Wood Panel Wholesale
SIC Code: 5031
Business Activity:
Supplier of wood,
logs, and timber.
The headquarters are
at the above-noted address. The Company's website reports an additional
location in
PUBLIC RECORD
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.
GENERAL COMMENTS
A well-established
Company, the Subject is engaged as a supplier of wood, logs, and timber.
Payment records 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
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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%)