MIRA
INFORM REPORT
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Report Date : |
05.09.2007 |
IDENTIFICATION DETAILS
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Name : |
SOUTHEASTERN
TEXTILE MACHINERY, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
05/10/1972 |
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Legal Form : |
Corporation -
Private |
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Line of Business : |
Buying and selling
of textile machinery, warehouse inventory, and complete textile plants and
factories. |
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: SOUTHEASTERN TEXTILE MACHINERY, INC.
Trade Name(s): STM
Address: 501
CRAGHED STREET P.O. BOX 921
City:
State/Province:
Zip Code: 24543-092
Country: UNITED
STATES
Telephone: 434
793-9107
Facsimile: 434
797-9285
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
6
Legal Form: Corporation
- Private
Website: www.stm-inc.net
Business Activity: The Subject specializes in the buying
and selling of textile machinery, warehouse
inventory,
and complete textile plants and factories.
NOTE TO CLIENT
Several messages were
left for Mr. Thomas H. Aiken, President; we were unable to reach a member of
Management who could provide general information regarding the Company. Thus,
general information in this report cannot be substantiated.
Please note that we
did send a written request to his attention via facsimile. An update will be
provided accordingly should we receive a response at a later time.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 05/10/1972
State/Province of
Incorporation: VA
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Subject is
incorporated in the state of
CORP ID: 0141117 - 2
STATUS: 00 ACTIVE
STATUS DATE:
11/05/98
CORP NAME: SOUTHEASTERN TEXTILE MACHINERY, INC.
DATE OF
CERTIFICATE: 10/05/1972
STATE OF
STOCK
INDICATOR: S STOCK
GOOD STANDING
R/A NAME: JOHN H. HEARD
STREET:
CITY:
STATE : VA
ZIP: 24541
R/A STATUS: A
ATTORNEY
EFF. DATE: 03/13/96
LOC.: 205
ACCEPTED AR#: 205 77
0046 DATE: 10/20/05
Managers/Key
Personnel
Mr. Thomas H.
Aiken President
Ms. Susan Aiken Secretary & Treasurer
AFFILIATED ENTITIES
There are no known
affiliates or subsidiaries.
BANKS
First Citizen Bank
VA
Telephone:
919-716-4588
Facsimile:
Account Number:
Account Manager:
The Bank requires a
signed authorization for a banking reference.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
BLDG MATRL 07-08 07-07 VARIED 3500
2800 100 0 0 0 0
CUST 4 YR
BLDG MATRL 07-06 06-10 CREDIT 3500
0 0 0
0 0 0
FINCL SVCS 07-07 07-06 CONTRCT 600 100
100 0 0 0
0 CUST 3 YR
PACKAGING
07-08 00-00 NET 30 0 0
0 0 0
0 0 CUST
1 YR
TELECOM
07-07 00-00 NET 30 300 300
100 0 0 0 0
TELECOM
07-08 00-00 NET 30 100 100
100 0 0 0 0
TRANSPORTN 07-06 00-00 NET 30 0
0 0 0
0 0 0
PROMPT
WAREHOUSE
07-07 07-01 VARIED 100 0
0 0 0
0 0 CUST
3 YR
COMPUTERS
05-05 00-00 0 0
0 0 0
0 0 CUST 37 YR
OFFC SUPPL 05-11 05-09 CREDIT 500
500 100 0 0
0 0 CUST
1 YR
CURRENT QUARTER 8100 3300
100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070800
0 5 0 3700 100 0
0 0 0
20070700
0 5 0 4000 100 0
0 0 0
20070600
0 5 0 4200 100 0
0 0 0
20070500
0 5 0 3900 100 0
0 0 0
20070400
0 5 0 2300 100 0
0 0 0
20070300
0 5 0 2400 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE
CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 0 4000 100 0
0 0 0
First
2007 0 2400 100 0
0 0 0
Fourth
2006 0 1800 100 0
0 0 0
Third
2006 0 700 100 0
0 0 0
Second
2006 0 1000 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
could not provide any insight into the condition of the firm.
CURRENT OPERATIONS
NAICS Code: 4218 Machinery, Equipment and Supplies
Wholesalers
Number of
Employees: 6
Business Activity:
The Subject
specializes in the buying and selling of textile machinery, warehouse
inventory, and complete textile plants and factories.
The Company handles all
aspects of the sale, including: the dismantling, packing, shipping and loading
of the machinery.
The heading address
is the sole location for the Subject. The location is approximately 160,000
square feet.
PUBLIC RECORD
A search of
bankruptcy courts revealed no record of the Subject filing for bankruptcy.
The following UCC
filings were filed by the Company and the civil judgment was found against the
Company:
Name Searched:
SOUTHEASTERN TEXTILE MACHINERY
Debtor Address:
SOUTHEASTERN TEXTILE MACHINERY, INC.
1059 INDUSTRIAL
AVENUE P.O. BOX 921
Secured Parties:
SUNTRUST BANK (FORMERLY CRESTAR BANK)
Filing Date:
7/24/2000
Filing Number:
000724 7344
Filing Type:
CONTINUATION
Original Filing
Number: 960104 7052
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Name Searched:
SOUTHEASTERN TEXTILE MACHINERY
Debtor Address:
SOUTHEASTERN TEXTILE MACHINERY, INC.
1103 GOODYEAR
BOULEVARD P.O. BOX 921
Secured Parties:
CRESTAR BANK
Filing Date:
1/6/2000
Filing Number:
000106 7077
Filing Type:
CONTINUATION
Original Filing
Number: 950612 7172
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Name Searched:
SOUTHEASTERN TEXTILE MACHINERY INC.
Amount: $ 1,631
Creditor: BYARS
MACHINE CO
Date: 4/21/1998
Debtor Address:
SOUTHEASTERN TEXTILE MACHINERY INC
Debtors:
SOUTHEASTERN TEXTILE MACHINERY INC
Filing Type:
JUDGMENT
Number: 98-001934
Status: OPEN
GENERAL COMMENTS
The Subject
specializes in the buying and selling of textile machinery, warehouse
inventory, and complete textile plants and factories since 1972. The Firm has a
satisfactory payment record. A search of bankruptcy courts revealed no record
of the Subject filing for bankruptcy. One civil judgment was found against the
Company, however, the current status could not be determined. The Company
should be considered responsible for normal business transactions at this time.
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%)