MIRA INFORM REPORT

Report Date :

20.11.2007

IDENTIFICATION DETAILS

Name :	NEWPORT MEDICAL INSTRUMENTS
Registered Office :	1620 Sunflower Ave, Costa Mesa, Ca 92626-1513
Country :	United States
Date of Incorporation :	03/09/1981
Legal Form :	Institutions
Line of Business :	Miscellaneous Retail Stores

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Slow by 2 days
Litigation :	Clear

Company Information

NEWPORT MEDICAL INSTRUMENTS
1620 SUNFLOWER AVE
COSTA MESA, CA 92626-1513
(714) 427-5811

Business Identification Number:

858321358

File Established:

11/1981

Date of Incorporation:

03/09/1981

SIC code:

MISCELLANEOUS RETAIL STORES, NEC - 5999

Executive Summary

  Intelliscore for NEWPORT MEDICAL INSTRUMENTS

80.65

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

100

High risk

Low risk

LOW RISK
89% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

	NUMBER OF ACTIVE ACCOUNTS
	BALANCE ON DELINQUENT ACCOUNTS
	NUMBER OF DELINQUENT ACCOUNTS
	NUMBER OF OTHER TRADES

  Current DBT range compared to all industries*

2 DBT
($5,800 Balance)

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 7 DBT

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections:

0

Sum of legal filings:

$0

UCC filings: details (FILED 01/05-10/07)

3

Cautionary UCC filings present?

Yes**

Trade Information

Monthly average DBT:

4

Highest DBT previous 6 months:

9

Highest DBT previous 5 quarters:

24

Total continuous trades:

16

Current continuous trade balance:

$5,800

Trade balance of all trades (32):

$367,400

Average balance previous 5 quarters:

$4,220

Highest credit amount extended: details

$15,500

6 month balance range:

$1,600 - $8,800

* 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

5

9

8

2

2

2

2

0

May07

Jun07

Jul07

Aug07

Sep07

Oct07

Current

  Quarterly DBT trends (previous 5 quarters)

90+

60

30

24

15

3

7

3

0

3Q06

4Q06

1Q07

2Q07

3Q07

Performance Analysis

Predicted DBT for 01/16/2008: 2 DBT

Payment Trend Indication:
Are Improving Toward Term Requirements

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

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

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	11/2007		NET 30		$0						CUST 4 YR
+AIR TRANS	09/2007			$15,500	$2,700	100%					CUST 24 YR
+BLDG MATRL	11/2007	10/2007	CREDIT	$7,000	$100	100%
DP EQUIP	10/2007		NET 30	$800	$0
ELEC SUPLR	09/2007	07/2005	NET 30	$5,100	$0						CUST 2 YR
FACTOR	11/2007	05/2003	NET 30		$0						CUST 4 YR
FACTOR	11/2007		NET 30	<$100	$0						CUST 1 YR
=FOOD	10/2007		NET 30	$400	$300	72%	28%
+INDUS SUPL	10/2007	09/2007	NET 30	$6,000	$2,000	74%	26%				CUST 13 YR
+MED EQUIP	11/2007	10/2007	VARIED	$2,200	<$100	100%					CUST 3 YR
OFFC SUPPL	11/2007	01/2005	CREDIT	$5,000	$0
=PACKAGING	11/2007	10/2007	NET 30	$500	$500	100%					CUST 5 YR
PAINTS	10/2007	09/2007	1/10PRX	<$100	$0
+PROP MGMT	08/2007*		NET 30	$2,300	$2,300	100%
R&D	11/2007		CREDIT		$0
+TELECOM	10/2007	09/2007	NET EOM	$1,200	<$100	100%					CUST 12 YR
WAREHOUSE	11/2007	12/2006	VARIED	$200	$0						CUST 9 YR

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	16	$44,100	$5,800	89%	11%				DBT: 2
Newly Reported	1	$2,300	$2,300	100%					DBT: 0
Trade Lines Totals	17	$46,400	$8,100	92%	8%				DBT: 1

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	11/2006		NET 30	$26,400	$7,500	98%				2%	COLLECTION
BUS SERVCS	10/2006	10/2006	NET 30		$0
CELLUL/PAG	11/2004	06/2004	NET 30		$0						CUST 4 YR
-COMPUTERS	06/2006	05/2006		$57,300	$20,900		30%	64%	6%
+CRED CARD	05/2007	04/2007	N30PRXO	$100	$100	100%					CUST 1 YR
=ELEC EQUIP	02/2005		NET 30	$100	$100		100%
ELECTRONIC	10/2006		VARIED	$100	$0
FACTOR	06/2006	07/2004	NET 30		$0
FACTOR	01/2006	11/2001	NET 30		$0
GENERAL	02/2005	06/2001	NET 30		$0						CUST 9 YR
+LEASING	01/2005		NOTE	$327,000	$327,000	98%	2%
+MED SUPPLY	04/2006		NET 30	$13,300	$1,900	99%			1%
+TELECOM	03/2005		NET 30	$100	$100	100%
+TEMP HELP	06/2007	07/2007	ROI	$20,000	$1,700	100%
TEMP HELP	07/2005		NET 7	$300	$0

Monthly Payment Trends

Payment Trends Analysis
MISCELLANEOUS RETAIL STORES, NEC INDUSTRY SIC: 5999

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

2

$5,800

89%

11%

OCT07

83%

7

2

$5,400

89%

11%

SEP07

83%

7

2

$6,700

88%

12%

AUG07

83%

7

2

$4,900

87%

13%

JUL07

81%

8

8

$1,600

75%

10%

15%

JUN07

82%

8

9

$2,800

77%

6%

17%

MAY07

83%

7

5

$5,100

88%

3%

9%

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	3	$2,700	87%	10%	3%
Q2 - 07	APR-JUN	7	$4,100	76%	13%	11%
Q1 - 07	JAN-MAR	3	$4,800	83%	15%	2%
Q4 - 06	OCT-DEC	15	$5,400	81%	2%		10%	7%
Q3 - 06	JUL-SEP	24	$4,100	59%	13%	5%	13%	10%

Inquiries

Summary of Inquiries
Business Category	NOV07	OCT07	SEP07	AUG07	JUL07	JUN07	MAY07	APR07	MAR07
GENERAL		1
HOTEL	1						1		1
SOLAR ENER								1
Totals	1	1					1	1	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		1
JAN - JUN	2007
JUL - DEC	2006	1	1
JAN - JUN	2006
JUL - DEC	2005
PRIOR TO JUL	2005		1
Total		1	3

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

  UCC Filings

UCC FILED Date: 10/19/2007

Filing Number: 077133516174

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: SOVEREIGN BANK NY MELVILLE 11747 3 HUNTINGTON QUADRANGLE

Collateral: 

UCC FILED Date: 10/11/2006

Filing Number: 067087970428

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: SUMITOMO MITSUI BANKING CORPORATION CA LOS ANGELES 90017 777

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

UCC FILED Date: 01/12/2005

Filing Number: 057011911904

Jurisdiction: SEC OF STATE CALIFOR

Secured Party: KONICA MINOLTA BUSINESS SOLUTIONS U.S.A, NJ PARK RIDGE 07656

Collateral: EQUIP, UNDEFINED

Company Background Information

  Corporate Registration

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF CALIFORNIA

State of Origin: CA

Date of Incorporation: 03/09/1981

Current Status: Active

Business Type: Institutions - Profit

Charter Number: 01038517

Agent: JAY R OGRAM

Agent Address: 1620 SUNFLOWER AVE COSTA MESA, CA

  Additional Company Background Information

Key Personnel

Principal(s):	JANICE BAKER, DIRECTOR O
	HAL WALBRINK, VICE PRESI
	JAY NASH

Operating Information

Business Type: Institutions

Primary SIC Code: MISCELLANEOUS RETAIL STORES, NEC - 5999

Secondary SIC Code: MISCELLANEOUS SERVICES - 8900

Additional SIC Code: 6411 - 3842

Number of Employees: 1,000

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