MIRA INFORM REPORT

 

 

Report Date :

31.10.2007

 

IDENTIFICATION DETAILS

 

Name :

AAKASH DIAMONDS INC

 

 

Registered Office :

550 S Hill St Ste 1350, Los Angeles, Ca 90013-2414

 

 

Country :

United States

 

 

Date of Incorporation :

04/1992

 

 

Legal Form :

Institutions

 

 

Line of Business :

Durable Goods, Jewelry & Precious Stones Wholesaling

 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

 

Company Information

 

 

AAKASH DIAMONDS INC
550 S HILL ST STE 1350
LOS ANGELES, CA 90013-2414
(213) 489-5400

Business Identification Number:

797372348

File Established:

04/1992

Date of Incorporation:

12/23/1996

SIC code: 

DURABLE GOODS, NEC, WHLSNG - 5099

 

Executive Summary

 

 

  Intelliscore for AAKASH DIAMONDS INC

 

 

46.27

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


MEDIUM TO HIGH RISK
26% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF RECENT COLLECTION ACCOUNTS

BALANCE ON HIGH CREDIT

NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS

NUMBER OF COLLECTION ACCOUNTS



  Current DBT range compared to all industries*

0 DBT
($5,300 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 5 DBT

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections: details (PLACED 03/05-10/06)

2

Sum of legal filings:

$0

UCC filings: details (FILED 06/98)

2

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

0

Highest DBT previous 6 months:

0

Highest DBT previous 5 quarters:

0

Total continuous trades:

2

Current continuous trade balance:

$5,300

Trade balance of all trades (5):

$6,100

Average balance previous 5 quarters:

$79,460

Highest credit amount extended: details

$100,600

6 month balance range:

$5,300 - $116,100

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivable, Contracts, Hereafter Acquired Inventory, Leases, Notes Receivable or Proceeds.

 

 

 

 

  7 month DBT trends

 

90+

60

30

 


0

 


0

 


0

 


0

 


0

 


0

 


0

 

0

Apr07

May07

Jun07

Jul07

Aug07

Sep07

Current

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


0

 


0

 


0

 


0

 


0

 

0

 

3Q06

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

 

Performance Analysis

Predicted DBT for 12/26/2007: 1 DBT

Payment Trend Indication:
Are Stable

Industry payment comparison:
Has paid sooner than 50% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CONTRCT, and CREDIT

 

 

Back to top

 

Legal Filings and Collections

 

 

  Collections

Date
Placed

Status

Original
Balance

Outstanding
Balance

Date
Closed

Agency

Agency
Phone

10/2006

Open Account

$243

 

$243

 

 

RECEIVABLE MANAGEMENT SERVICES

(000) 000-0000

03/2005

Open Account

$1,205

 

$1,205

 

 

FIDELITY NATIONAL CREDIT SERVI

(800) 648-9341

 

Trade Payment Information

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

 ADVERTISNG

10/2007

 

NET 30

 

 

$0

 

 

 

 

 

CUST 4 YR

+BANK

09/2007

09/2007

CONTRCT

 

$100,600

$5,300

100%

 

 

 

 

 


 

Trade Payment Totals

 

 

Trade Payment Experiences

Account Status
Days Beyond Terms

 

Type

Lines
Reported

 

 

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

Continuously Reported

2

 

 

$100,600

$5,300

100%

 

 

 

 

DBT: 0

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

2

 

 

$100,600

$5,300

100%

 

 

 

 

DBT: 0

 

Additional Payment Experiences

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

 AIR TRANS

09/2005

09/2005

 

 

$100

$0

 

 

 

 

 

 

 GENERAL

02/2005

01/2000

NET 30

 

 

$0

 

 

 

 

 

CUST 9 YR

+LEASING

06/2007

 

CONTRCT

 

$1,200

$800

100%

 

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
DURABLE GOODS, NEC, WHLSNG INDUSTRY SIC: 5099

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

0

$5,300

 

100%

 

 

 

 

SEP07

86%

5

0

$5,300

 

100%

 

 

 

 

AUG07

87%

4

0

$36,700

 

100%

 

 

 

 

JUL07

88%

4

0

$92,100

 

100%

 

 

 

 

JUN07

88%

4

0

$97,100

 

100%

 

 

 

 

MAY07

87%

5

0

$98,200

 

100%

 

 

 

 

APR07

89%

4

0

$116,100

 

100%

 

 

 

 

 

Quarterly Payment Trends

 

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q3 - 07

JUL-SEP

0

$44,700

 

100%

 

 

 

 

Q2 - 07

APR-JUN

0

$103,800

 

100%

 

 

 

 

Q1 - 07

JAN-MAR

0

$31,200

 

100%

 

 

 

 

Q4 - 06

OCT-DEC

0

$92,000

 

100%

 

 

 

 

Q3 - 06

JUL-SEP

0

$125,600

 

100%

 

 

 

 

 

Inquiries

 

 

  Summary of Inquiries

Business
Category

OCT07

SEP07

AUG07

JUL07

JUN07

MAY07

APR07

MAR07

FEB07

CRED CARD

 

 

 

 

1

 

 

 

 

 

Totals

 

 

 

1

 

 

 

 

 

 

UCC Profile

 

The UCC Filings are summarized and listed below.

UCC Summary

Filings

Date Range

Year

Cautionary
UCCs**

Total
Filed

Released/
Term'd

Cont

Amended/
Assigned

JUL - PRESENT

 

2007

 

 

 

 

 

JAN - JUN

 

2007

 

 

 

 

 

JUL - DEC

 

2006

 

 

 

 

 

JAN - JUN

 

2006

 

 

 

 

 

JUL - DEC

 

2005

 

 

 

 

 

PRIOR TO JUL

 

2005

1

2

 

 

1

Total

 

1

2

 

 

1

 

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivable, Contracts, Hereafter Acquired Inventory, Leases, Notes Receivable or Proceeds.

 

Back to top

 

  UCC Filings

 

UCC FILED Date: 06/26/1998

Filing Number: 199818060550

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: STATE BANK OF INDIA (CALIFORNIA) CA LOS ANGELES 90017 707 WI

Collateral: EQUIP, FURN & FIX, HEREAFTER AQUIRED PROP, UNDEFINED


UCC FILED Date: 06/26/1998

Filing Number: 9818060550

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: STATE BANK OF INDIA (CALIFORNIA) CA LOS ANGELES 90017 707 WI

Collateral:  


UCC AMENDED Date: 05/28/2004

Filing Number: 2004161C0271

Original Filing Date: 01/01/2001

Original Filing Number: 2004145603

Original Filing State: CA

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: BANK LEUMI USA CA BEVERLY HILLS 90211 8383 WILSHIRE BLVD. SU

Collateral:  

 

Company Background Information

 

 

  Corporate Registration

 

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF CALIFORNIA

State of Origin: CA

Date of Incorporation: 12/23/1996

Current Status: Active


Business Type: Institutions - Profit

Charter Number: 01795712


Agent: RAJESH SHAH

Agent Address: 550 S HILL ST STE 1350 LOS ANGELES, CA

 

Back to top

 

  Additional Company Background Information

 

Key Personnel

Principal(s): 

SHAH RAJESH, PRESIDENT

 

RAJESH SHAH, PRESIDENT


Operating Information

Business Type: Institutions


Primary SIC Code: DURABLE GOODS, NEC, WHLSNG - 5099

Secondary SIC Code: JEWELRY & PRECIOUS STONES WHLSNG - 5094


Number of Employees: 7


 

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.

 

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