MIRA
INFORM REPORT
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Report Date : |
06.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DAC INTERNATIONAL
INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1964 |
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Legal Form : |
Corporation -
Private |
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Line of Business : |
Manufacturer of
computer controlled lathes and milling machinery. |
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: DAC
INTERNATIONAL INC.
Address:
City: CARPINTERIA
State/Province:
Zip Code: 93013
Country: UNITED
STATES
Telephone: 805
684-8607
Facsimile: 805
566-2196
Founded
(D/M/Y): / /1964
In KUSD As of:
31/12/2006
Sales /
Revenue: 10,000
Net Income:
Total Equity:
Number of Employees:
52
Legal Form: Corporation
- Private
Website: www.dac-intl.com
Business Activity: The Firm is a manufacturer of computer controlled
lathes and milling machinery.
NOTE TO CLIENT
Person Contacted:
Ms. Joyce Kawachi, Controller.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 28/05/1999
State/Province of
Incorporation: DE
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Firm is
registered in
File Number: 3049725
Incorporation Date:
05/28/1999
Entity Name: DAC
INTERNATIONAL, INC.
Entity Kind:
CORPORATION
Entity Type: GENERAL
Residency: DOMESTIC
State:
REGISTERED AGENT
INFORMATION
Name: THE
CORPORATION TRUST COMPANY
Address: CORPORATION
TRUST CENTER
City:
County: NEW CASTLE
State:
Postal Code: 19801
Phone: (302)658-7581
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The Firm is
qualified in
Corporation: DAC
INTERNATIONAL, INC.
Number: C2166709
Date Filed:
6/14/1999
Status: Active
Jurisdiction:
Address:
Agent for Service of Process
JOYCE KAWACHI
Managers/Key
Personnel
Mr. James W.
Drain President
Ms. Joyce
Kawachi Vice
President
SUBSIDAIRY
DAC International
Ltd.
Horsham,
Tel: +44 (0) 7866 458385 (Mobile)
E-mail: mhillman@dac-intl.co.uk
BANKS
Telephone:
Facsimile:
Account Number:
Account Manager:
Management declined
to provide the name of the Firm's primary bank, however MONTECITO BANK
& TRUST was mentioned as a secured
party for financing.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
ADVERTISNG 07-09 00-00 NET 30 0
0 0 0
0 0 0
CUST 4 YR
COMPUTERS
07-08 07-07 CREDIT 25000 0
0 0 0
0 0
ELEC SUPLR 07-09 00-00 0000000 0 0
0 0 0 0 0
FACTOR
07-06 07-02 NET 30 1100 0
0 0 0
0 0
FREIGHT
07-06 00-00 VARIED 107000 6800
0 57 43
0 0
OFFC SUPPL 07-08 07-05 CREDIT 6400
0 0 0 0
0 0
OPTIC SUPL 07-05 07-05 2/10N30 1000 600
100 0 0 0
0 CUST 8 YR
PACKAGING
07-09 00-00 NET 30 0 0
0 0 0
0 0 CUST 14 YR
TEMP HELP
07-08 07-09 ROI 900 600
100 0 0 0 0
TRUCK DLR 07-09 00-00 CONTRCT 3600 0
0 0 0
0 0
AIR TRANS
06-06 06-05 0000000 9900
5000 100 0 0
0 0 CUST 27 YR
AIR TRANS
06-11 00-00 NET 30 200 0
0 0 0
0 0 CUST 13 YR
BUS SERVCS 06-11 06-11 NET 30 0 0
0 0 0
0 0
CELLUL/PAG 05-07 05-06 NET 30 700
0 0 0
0 0 0
CUST 9 YR
COMPUTERS
05-08 02-03 SPECIAL 0
0 0 0
0 0 0
CUST 11 YR
COMPUTERS
05-07 05-02 800 0
0 0 0 0 0
ELECTRONIC 05-08 00-00 VARIED 500
0 0 0
0 0 0
FREIGHT
06-01 00-00 NET30 1300 0
0 0 0
0 0 CUST
6 YR
GENERAL
05-02 99-11 NET 30 0 0
0 0 0
0 0 CUST 20 YR
HOUSEWARES 06-04 03-10 VARIED 0
0 0 0 0 0 0
IRON& STEEL 05-03 00-00 NET 30 1000
600 100 0 0
0 0
LEASING
07-08 00-00 CONTRCT 0
0 0 0 0 0 0
PACKAGING
04-09 00-00 CWO 0 0
0 0 0
0 0 CUST
1 YR
CURRENT QUARTER 145000 8000
15 48 37
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070900
0 6 24 8000 15
48 37 0 0
20070800
0 6 18 10500 35
37 28 0 0
20070700
0 6 18 10700 36
36 28 0 0
20070600
0 7 35 3300 54
0 0 46 0
20070500
0 5 52 8200 46
0 0 16 38
20070400
0 7 0 3900 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 33 7400 42
18 13 13 14
First
2007 9 5500 60
29 11 0 0
Fourth
2006 3 1800 78
22 0 0 0
Third
2006 0 0
0 0 0
0 0
Second
2006 0 3200 100 0
0 0 0
FINANCIAL
INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2006 31/12/2006 31/12/2006
Consolidated
Sales / Revenues 10,000 - -
Ms. Kawachi stated
that the Firm has global sales in the US$10 million range. A written inquiry
was faxed to Ms. Kawachi and if she responds the report will be amended
immediately.
HISTORY
The Firm was a
subsidiary of DAC VIEWING INTERNATION in
CURRENT OPERATIONS
NAICS Code: 339
Miscellaneous Manufacturing
Number of Employees:
52
Business Activity:
The Firm is a
manufacturer of computer controlled lathes and milling machinery. The Firm produces computer controlled lathes
and milling machinery for the production of contact and intraocular lenses. The
Firm also offers mechanical, electronic, software and automation components of
all its products. The Firm's products are used for the ultra-precision
machining of plastics and non-ferrous metals.
The heading address
is the Firm's sole location and consists of 17,500 square feet of office space
and manufacturing facilities.
PUBLIC RECORD
DEBTOR INFORMATION
Debtor(s): DAC INTERNATIONAL, INC.
SECURED PARTY OR CREDITOR INFORMATION
Secured Party(s): MANUFACTURERS FINANCING SERVICES
COLLATERAL INFORMATION
Collateral
Type: EQUIPMENT
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DEBTOR INFORMATION
Debtor(s): DAC INTERNATIONAL, INC.
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): MANUFACTURERS FINANCING
SERVICES
--
DEBTOR INFORMATION
Debtor(s): DAC INTERNATIONAL, INC.
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): MANUFACTURERS FINANCING
SERVICES
ASSIGNEE INFORMATION
Assignee(s): GENERAL ELECTRIC CAPITAL CORPORATION
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DEBTOR INFORMATION
Debtor(s): DAC INTERNATIONAL, INC.
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): MONTECITO BANK & TRUST
P.O.
COLLATERAL INFORMATION
Collateral
Type: ALL INVENTORY AND PROCEEDS
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No judgements, tax liens
or bankruptcy petitions were traced to the Firm.
GENERAL COMMENTS
The Firm is a well
established manufacturer of computer controlled lathes and milling machinery.
The payment record is satisfactory. No judgements, tax liens or bankruptcy
petitions were traced to the Firm. The Firm is considered responsible for
normal trade relations.
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. |
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%)