MIRA
INFORM REPORT
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Report Date : |
31.08.2007 |
IDENTIFICATION DETAILS
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Name : |
QI BOTANICAL TEA ( |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1994 |
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Legal Form : |
Provincially
Chartered Corporation – Private |
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Line of Business : |
Engaged as a producer
and distributor of tea to luxury hotels and restaurants worldwide. |
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 : |
Usually correct |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: QI
BOTANICAL TEA (
Address:
City:
State/Province:
Zip Code: V6P
6G2
Country:
Telephone: 604-736-1207
Facsimile: 604-261-5060
Founded
(D/M/Y): / /1994
As of:
Sales / Revenue:
Net Income:
Total Equity:
Legal Form: Provincially
Chartered Corporation - Private
Website: www.tealeaves.com
Business Activity: The Subject is engaged as a producer
and distributor of tea to luxury hotels and
restaurants
worldwide.
NOTE TO CLIENT
NOTE: The correct
legal name of the Subject is QI BOTANICAL TEA (CANADA) LTD., not TQ1 BOTANICAL
TEA CANADA LTD. Moreover, the provided address: 1568 WEST BROADWAY,
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NOTE: The provided
contact: Mr. Garret Chan, President is on a business trip and was thus not
available for an interview at the time of our call. Alternatively, we tried to
reach Ms. Lana Sutherland, Accounting Manager, whom we were told was the sole
person that could confirm information regarding the Company. Several messages
were left for Ms. Sutherland but we received no response to our inquiry. We
also sent a written request via fax to Ms. Sutherland but received no response.
As such, information in this report cannot be confirmed.
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NOTE: Number of
employees could not be ascertained via Management or outside sources consulted.
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 13/09/1994
State/Province of
Incorporation: BC
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
QI BOTANICAL TEA (
INC. NUMBER:
BC0480240
FILED: 9/13/1994
STATUS: ACTIVE
Managers/Key
Personnel
Mr. Garret Chan President
Ms. Lana
Sutherland Accounts Manager
AFFILIATED ENTITIES
The Company's
website reports no affiliates or subsidiaries.
BANKS
BC
Telephone:
Facsimile:
Account Number:
Account Manager:
We could not obtain
any bank information regarding the Subject.
PAYMENT HISTORY
TRADE ITEMS
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Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing
$ 1st 2nd
3rd
------------------------------------------------------------------------------
Trucking:
*Jul 0 1,467 1,467
1,467 0 0
0
------- -------
------- ------- ------- -------
P.I. =
0 90 Days 1,467
1,467 1,467 0
0 0
Reported ------- ------- ------- ------- -------
-------
Wholesale-Poultry:
*Mar 0 100 100
100 0 0
0
------- -------
------- ------- ------- -------
P.I. =
0 Total 1,567
1,567 1,567 0
0 0
Reported ------- ------- ------- ------- -------
-------
PAYMENT TRENDS
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Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
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2 Qtr/2007
0 10 1
659 659 0
0 0
1 Qtr/2007
0 8 2
513 513 0
0 0
4 Qtr/2006
NA 28 0 0 0 0
0 0
3 Qtr/2006
67 30 1
29 0 0
29 0
2 Qtr/2006
NA 20 0 0 0 0
0 0
1 Qtr/2006
0 26 2
587 587 0
0 0
4 Qtr/2005
33 36 1
35 0 35
0 0
3 Qtr/2005
33 28 1
302 0 302
0 0
2 Qtr/2005
0 22 2
965 965 0
0 0
FINANCIAL INFORMATION
We could not obtain
any financial information and outside sources provided no insight into the
financial condition of the Company.
CURRENT OPERATIONS
NAICS Code: 445
Food and Beverage Stores
Business Activity:
The Subject is
engaged as a producer and distributor of tea to luxury hotels and restaurants
worldwide.
The headquarters is
at the heading address.
The Company has a
branch location at:
1568 West Broadway
V6J 5K9
PUBLIC RECORD
CLAIM FILED AGAINST THE
COMPANY:
Statement
of Claim:
Defendant
QI BOTANICAL TEA (
Plaintiff
FIF FREIGHT SYSTEMS (
Amount
10,126
Location Richilieu
Reason
Claims
File # SMC0519011
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NO BANKRUPTCY
PETITION WAS FILED BY THE COMPANY.
GENERAL COMMENTS
The Subject is
engaged as a producer and distributor of tea to luxury hotels and restaurants
worldwide. 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%)