MIRA
INFORM REPORT
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Report Date : |
01.09.2007 |
IDENTIFICATION DETAILS
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Name : |
NAVIKAN INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27/06/1985 |
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Legal Form : |
Private Company |
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Line of Business : |
Wholesaler of
jewelry and precious stones. |
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: NAVIKAN
INC.
Address:
City:
State/Province:
Zip Code: 60602
Country: UNITED
STATES
Telephone: 312
263-2175
Facsimile: 312
263-4347
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
6
Legal Form: Private
Company
Website: www.navikan.com
Business Activity: The Subject is a wholesaler of jewelry
and precious stones.
NOTE TO CLIENT
Contacted Person:
Mr. Hiren N. Shah, President.
Our contact verified
all the information in this report. In
addition we sent a fax requesting additional information regarding the
Company. If, Mr. Shah responds to our
request at a later time, we will provide an updated report.
LEGAL
Legal Form: Private
Company
Since (D/M/Y): 27/06/1985
State/Province of
Incorporation: IL
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company is
incorporated in the State of
Entity Name NAVIKAN INC.
File Number 53890555
Status GOODSTANDING
Entity Type
CORPORATION
Type of Corp
DOMESTIC BCA
Incorporation Date
(Domestic) 06/27/1985
State
Agent Name HIREN
SHAH
Agent Change Date
07/07/2005
Agent Street Address
Agent City OAK
BROOK E
Agent Zip 60523
Managers/Key
Personnel
Mr. Hiren N
Shah President
Ms. Lina Shah Secretary
AFFILIATED ENTITIES
As far as could be
determined there are no affiliates or subsidiaries.
BANKS
Bank One
Telephone:
Facsimile: 225
332-7269
Account Number:
Account Manager:
The Bank requires an
account number and a signed authorization which could not be obtained from
management.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-05 07-05 0000000 1800
1000 100 0 0
0 0 CUST 20 YR
COMPUTERS
07-06 05-06 CREDIT 10000 0
0 0 0
0 0
CELLUL/PAG 05-12 05-12 NET 30 100
100 100 0 0
0 0 CUST
7 YR
COMPUTERS
05-05 00-00 CREDIT 0 0
0 0 0
0 0 CUST 37 YR
GENERAL
05-02 04-08 NET 30 100 0
0 0 0
0 0 CUST
8 YR
OFFC SUPPL 05-11 00-09 CREDIT 0
0 0 0
0 0 0
CUST 7 YR
OFFC SUPPL 07-03 07-02 NET 30 100
100 100 0 0
0 0 CUST
8 YR
OFFC SUPPL 07-01 00-00 CREDIT 1000
0 0 0
0 0 0
CURRENT QUARTER 11800 1000
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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--- --- --- -------- --- --- --- --- ---
20070800
0 5 0 1000 100 0
0 0 0
20070700
0 6 0 1000 100 0
0 0 0
20070600
0 5 0 1000 100 0
0 0 0
20070500
0 5 4 1300 75
25 0 0 0
20070400
0 4 4 1300 75
25 0 0 0
20070300
0 5 3 1800
77 23 0
0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 2 1100 90
10 0 0 0
First
2007 4 1600 76
24 0 0 0
Fourth
2006 3 1300 79
21 0 0 0
Third
2006 1 1200 91
9 0 0 0
Second
2006 0 1300 100 0
0 0 0
FINANCIAL INFORMATION
The Company was
forwarded a fax requesting financial information. Currently we have not received a response.
Outside sources provided no insight into the financial condition of the
Company.
CURRENT OPERATIONS
NAICS Code: 42194
Jewelry, Watch, Precious Stone and Precious Metal
SIC Code: 5094
Number of Employees
: 6
Business Activity:
The Subject is a wholesaler
of jewelry and precious stones.
The Company offers
diamonds, precious and semiprecious gemstones and items made of precious
metals, namely gold, silver and platinum.
The heading address
is the Company's headquarters. The Company has an additional location at the
following address:
NAVIKAN, INC.
PUBLIC RECORD
Name Searched:
NAVIKAN INC.
Debtors: NAVIKAN,
INC [Business]
Filing Date:
08/29/2002
Filing Number:
005772850
History: NUMBER OF
UCC-3 STATEMENTS FILED: 1
FILING FILING
TRANSACTION
DATE TIME
TRANSACTION TYPE NUMBER
07/16/2007 02:48 PM
CONTINUATION 008879913
Secured Party: BANK
ONE, NA
Status: UCC-3
STATEMENT FILED
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A search of
bankruptcy courts revealed no record of the Company filing for bankruptcy.
GENERAL COMMENTS
Navikan Inc. was
incorporated in 1985. The Subject is a
wholesale jewelry and precious stones. Payment 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. |
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%)