MIRA
INFORM REPORT
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Report Date : |
11.09.2007 |
IDENTIFICATION DETAILS
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Name : |
STAR STAINLESS
SCREW CO. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27/01/1950 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Hardware merchant
wholesaler specializing in nails, screws, bolts, nuts, plugs and hooks. |
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: STAR
STAINLESS SCREW CO.
Address:
City: TOTOWA
State/Province: NEW
Zip Code: 07512
Country: UNITED
STATES
Telephone: 973
256-2300
Facsimile: 973
256-2434
As of:
Sales / Revenue:
Net Income:
Total Equity:
Legal Form: Corporation - Private
Website: N/A
Business Activity: The Subject is a hardware merchant
wholesaler specializing in nails, screws, bolts, nuts,
plugs and
hooks.
NOTE TO CLIENT
Person Contacted:
Mr. Arnold Slavin, Controller/Financial Director (title not confirmed).
Mr. Slavin declined
to confirm his position with the company and the information in this report.
Every effort was made to gather accurate information from qualified outside
sources such as the New Jersey Secretary of State, Juridical sources, and other
reliable sites. The information in the report was obtained from outside sources
and has not been confirmed with management. A written inquiry was faxed to the
Subject and if a response is received the report will be amended.
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The address
provided, P.O. Box 288, Totowa, NJ, appears to be a mailing address for Star
Stainless Screw Co., however management declined, and outside sources were
unable, to confirm this. Outside sources indicate that only one Totowa, NJ
location exists for Star Stainless Screw Co. at
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 27/01/1950
State/Province of
Incorporation: NJ
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
Business Name: STAR
STAINLESS SCREW CO.
Business ID Number:
8524101000
Business Type:
DOMESTIC PROFIT CORPORATION
Status: ACTIVE
Filing Date:
01/27/1950
Home Jurisdiction:
NJ
Status Change Date: Stock Amount: 2450
Annual Report Month:
1
Last Annual Report
Filed: 01/09/2007
For Last Annual
Report Paid Year: 2007
Incorporator: X
Agent:
Agent Address:
Office Address
Status: Deliverable
Main Business
Address:
Principal Business
Address:
----------------------------------------------------------------------
Associated Names
Name: TORTOISE
FASTENER CO.
Type Description:
Fictitious Name
Name: YELLOW WOODS
AND ROADS LESS TRAVELED CO.
Type Description:
Fictitious Name
Officers/Directors/Members
1) Title: OTHER
Name:
Address:
2) Title: PRESIDENT
Name: BRUCE WHEELER
Address:
AFFILIATED ENTITIES
As far as could be
determined, there are no affiliates or subsidiaries of Star Stainless Screw Co.
BANKS
Telephone:
Facsimile:
Account Number:
Account Manager:
The following banks
were mentioned in public as secured parties for financing:
Bank of
Commerce Bank
This information
could not be confirmed with Management.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-07 00-00 0000000 5200
2500 100 0 0
0 0 CUST
8 YR
FACTOR
07-08 00-00 NET 30 0 0
0 0 0
0 0 CUST
7 YR
FREIGHT
07-04 00-00 VARIED 10300 600
0 0 0
0 100
OFFC SUPPL 07-06 03-09 CREDIT 4000
0 0 0 0 0 0
TRUCK DLR
07-08 00-00 CONTRCT 800
700 0 100 0
0 0
UTILITY
07-06 07-06 NET 4300 100
100 0 0 0
0 PROMPT
UTILITY
07-07 00-00 NET 15 1200 1000 100 0
0 0 0
AIR TRANS
06-11 00-00 NET 30 1500 100
0 0 0
100 0 COLLECTION
COMPUTERS
05-11 00-00 UNK 9700 0
0 0 0
0 0
COMPUTERS
06-06 05-12 0000000 1300
0 0 0
0 0 0
CRED CARD
07-05 07-05 N30PRXO 2300
1800 100 0 0
0 0 CUST 14 YR
OFFC EQUIP 06-06 06-06 NET 30 100
100 6 94
0 0 0
PETROLEUM
04-10 00-00 VARIED 2100 2100
100 0 0 0
0 PROMPT
PETROLEUM
07-03 05-07 VARIED 11400 0
0 0
0 0 0
ACCTCLOSED
CURRENT QUARTER 26100 4900
74 13 0
0 13
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
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--- --- --- -------- --- --- --- --- ---
20070800
0 6 16 4200 85
0 0 0 15
20070700
0 6 8 7500 92
0 0 0 8
20070600
0 6 13 5000 88
0 0 0 12
20070500
0 5 8 8000 92
0 0 0 8
20070400
0 4 0 9700 100 0
0 0 0
20070300
0 4 0 4700 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 18 3700 83
0 0 0 17
First
2007 0 6800 99
0 1 0 0
Fourth
2006 1 3300 96
4 0 0 0
Third
2006 1 5100 95
5 0 0 0
Second
2006 2
16200 89 11 0 0 0
FINANCIAL INFORMATION
Management declined
all financial details via telephone. Outside sources consulted could not add
any insight into the condition of the Firm.
CURRENT OPERATIONS
NAICS Code: 42171
Hardware Wholesalers
SIC Code: 5072
Business Activity:
The Subject is a
hardware merchant wholesaler specializing in nails, screws, bolts, nuts, plugs
and hooks. According to 2007 Directory of United States Importers, the Subject specifically
wholesales items such as threaded screws and bolts of iron or steel; washers
other than lock washers made of iron or steel; and clasps, buckles, and other
parts manufactured of base metal.
This appears to be
the sole location.
PUBLIC RECORD
FILING INFORMATION
Filing Number: 2066568
Filing Date: 03/29/2006
Filing Time: 5:00PM
Filing Type: CONTINUATION
Filing Date of
Related Filing: 09/27/2001
Filing Office: SECRETARY OF STATE/UCC DIVISION
DEBTOR INFORMATION
Debtor(s): STAR STAINLESS SCREW CO.
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): COMMERCE BANK, N.A.
1701 ROUTE 70 EAST
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FILING INFORMATION
Filing Number: 2066568
Filing Date: 09/27/2001
Filing Type: ORIGINAL
Filing Office: SECRETARY OF STATE/UCC DIVISION
STATE CAPITOL
DEBTOR INFORMATION
Debtor(s): STAR STAINLESS SCREW CO.
SECURED PARTY OR CREDITOR INFORMATION
Secured Party(s): COMMERCE BANK, N.A.
1701 ROUTE 72 EAST
COLLATERAL INFORMATION
Collateral
Type: ALL ACCOUNT(S) INCLUDING PROCEEDS
AND PRODUCTS
Collateral
Type: ALL INVENTORY INCLUDING PROCEEDS
AND PRODUCTS
Collateral
Type: ALL EQUIPMENT INCLUDING PROCEEDS
AND PRODUCTS
Collateral
Type: ALL GENERAL INTANGIBLE(S)
INCLUDING PROCEEDS AND PRODUCTS
Collateral
Type: ALL CHATTEL PAPER INCLUDING
PROCEEDS AND PRODUCTS
Collateral
Type: ALL FIXTURES INCLUDING PROCEEDS
AND PRODUCTS
Collateral Type: ALL COMPUTER EQUIPMENT INCLUDING PROCEEDS AND
PRODUCTS
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FILING INFORMATION
Filing Number: 20966690
Filing Date: 04/12/2002
Filing Type: ORIGINAL
Filing Office: SECRETARY OF STATE/UCC DIVISION
STATE CAPITOL
DEBTOR INFORMATION
Debtor(s): STAR STAINLESS SCREW CO.
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): FLEET NATIONAL BANK (FORMERLY
KNOWN AS SUMMIT BANK) C/O TRADE
FINANCE DEPT. (Fleet
Bank was acquired by Bank of America in 2004)
COLLATERAL INFORMATION
Collateral
Type: ASSETS
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NOTE: A search of
bankruptcy courts revealed no record of the Company filing for bankruptcy.
GENERAL COMMENTS
Payment records 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%)