MIRA
INFORM REPORT
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Report Date : |
06.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DUSAM, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
02/03/2004 |
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Legal Form : |
Corporation -
Private |
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Line of Business : |
Engaged as
importer of natural stone. |
RATING & COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
IDENTIFICATION
& EXECUTIVE SUMMARY
Company Name: DUSAM,
INC.
Address:
City:
State/Province:
Zip Code: 02169
Country: UNITED
STATES
Telephone: 781
629- 5629
Facsimile: 617
892-4551
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
1
Legal Form: Corporation
- Private
Website: www.dusam.com
Business Activity: The subject company is engaged as
importer of natural stone.
NOTE TO CLIENT
Person Contacted:
Mr. Sadiq Masud, President
NOTE REGARDING NAME:
Dusam Inc. PLEASE BE ADVISED THAT THE LEGAL NAME IS DUSAM, INC.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 02/03/2004
State/Province of
Incorporation: MA
Status: DISSOLVED
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The exact name of
the Domestic Profit Corporation:
DUSAM,INC.
Entity Type: DOMESTIC PROFIT CORPORATION
Identification
Number: 000862256
Date of
Organization: 03/02/2004
Date of Involuntary
Dissolution
By Court Order or by
the SOC: 5/31/07
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The Company's
registration is reported by the Massachusetts Secretary of State's Office as
being dissolved. This issue was addressed with Mr. Masood who was not aware of
the status of the registration. He has been advised to contact his attorney or
accountant to rectify this issue.
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Dissolved:
When a Secretary of
State reports that a company's corporate status has been "
dissolved" it does not necessarily
mean the company is no longer operating.
A dissolved corporation can result from the company's delinquency is
paying its franchise tax or submitting its annual report to the Secretary of
State. Since the state itself is
sometimes slow to update its, it may be showing dissolution when in fact the
company has reinstated itself to good standing.
In cases where the corporation is dissolved for a substantial period of
time there is a possibility that the company allowed it in order to operate as
a sole proprietorship. Many small
companies in the
Managers/Key
Personnel
Mr. Sadiq Masud President
AFFILIATED ENTITIES
There are no
subsidiaries, affiliates or divisions.
BANKS
Habib American Bank
Telephone: 732
205-1777
Facsimile: 732
205-1772
Account Number:
Account Manager:
Raji Mathur
The bank requires a
signed authorization which was declined by Mr. Masood.
PAYMENT HISTORY
The Firm is not a
seeker of local trade credit and as such a significant payment record could not
be developed.
FINANCIAL
INFORMATION
Mr. Masood directed
all financial information to a written inquiry.
Outside sources
failed to add any insight to the financial condition of the company.
CURRENT OPERATIONS
NAICS Code: 421
Wholesale Trade, Durable Goods
Number of Employees:
1
Business Activity:
The subject company
is engaged as importer of natural stone.
The subject company
is an importer of onyx, marble and granite in the form of slabs and tiles
imported from
The above address is
the headquarters for the company which consists of leased office space.
TRADE REFERENCES
Supplier references
have been requested from management and if supplied the report will be amended
immediately.
PUBLIC RECORD
A search of public
records in
GENERAL COMMENTS
Dusam, Inc. was
incorporated in 2004, however in May 2007, the Massachusetts Secretary of
State's Office dissolved the registration. The subject company is engaged as an
importer of natural stones. All financial details were deferred to a written
inquiry and outside sources failed to add any insight into the condition of the
firm. A payment record could not be developed and no public records were traced
to the firm.
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%)