MIRA INFORM REPORT

 

 

Report Date :

13.09.2007

 

IDENTIFICATION DETAILS

 

Name :

AMBITION APPAREL, INC.

 

 

Registered Office :

512 7th Avenue 15th Floor, New York - 10018                       

 

 

Country :

United States                

 

 

Date of Incorporation :

29/06/1994

 

 

Legal Form :

Corporation – Private

 

 

Line of Business :

Importer of textiles and manufacturer of apparel.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

IDENTIFICATION & EXECUTIVE SUMMARY

 

Company Name:            AMBITION APPAREL, INC.

Address:                       512 7TH AVENUE 15TH FLOOR

City:                             NEW YORK

State/Province:              NEW YORK                             

Zip Code:                      10018                        

Country:                                    UNITED STATES               

Telephone:                    212 461-6900                

Facsimile:                     212 461-6999                   

As of:                            31/12/2006

Sales / Revenue:            14,000,000  

Net Income:                   221,000  

Total Equity:

Number of Employees:   17

Legal Form:                   Corporation - Private

Website:                       N/A

Business Activity:          The Firm is an importer of textiles and manufacturer of apparel.

 

 

NOTE TO CLIENT

 

Person Contacted: Mr. Usman Nawid, Chief Financial Officer.

 

WEBSITE: According to Mr. Nawid, the Company owns the domain name www.ambitionapparel.com, but it does not operate the website at this time.

 

 

LEGAL

 

Legal Form:                               Corporation - Private 

Since (D/M/Y):                           29/06/1994

State/Province of Incorporation:   NY

Status:                                                  ACTIVE

Previous Legal Form:

 

Company is NOT required to publish an annual financial report.

 

The Firm is incorporated in New York under the following:

 

Current Entity Name:      AMBITION APPAREL, INC.

Initial DOS Filing Date:   JUNE 29, 1994

County:                         NEW YORK

Jurisdiction:                   NEW YORK

Entity Type:                   DOMESTIC BUSINESS CORPORATION

Current Entity Status:     ACTIVE

 

Selected Entity Address Information DOS Process:

AMBITION APPAREL, INC.

512 7TH AVE

15TH FL

NEW YORK, NEW YORK, 10018

Principal Executive Office

AMBITION APPAREL, INC.

512 7TH AVE

15TH FL

NEW YORK, NEW YORK, 10018

 

 

Managers/Key Personnel

 

Mr. Mirza Ayub                          Chief Executive Officer

Mr. Pervaz Islam                       President &  Chief Operating Officer

Mr. Usman Nawid                     Chief Financial Officer

 

 

AFFILIATED ENTITIES

 

There are no affiliates or subsidiaries at this time.

 

 

BANKS

 

HSBC

Buffalo NY

Telephone: 800-975-4722

Facsimile:

Account Number:

Account Manager:

 

Policy prohibits the bank from releasing information concerning the bank's commercial customers.

 

Wells Fargo Bank

120 Mt. View Blvd

Basking Ridge NJ 07920

Telephone:

Facsimile:

Account Number:

Account Manager: Mr. Gino Duran

 

The bank requires account numbers and signatures which could not be obtained from management at this time.

 

 

PAYMENT HISTORY

 

The Subject is not a seeker of local trade credit and as such a significant payment record could not be developed.

 

 

FINANCIAL INFORMATION

 

FINANCIAL FIGURES

 

Year-End (D/M/Y):               31/12/2006         31/12/2006         31/12/2006

                                           Consolidated

Sales / Revenues                14,000,000                 -                          -    

 

RESULTS

Net Income                            221,000                  -                          -    

 

Mr. Nawid stated that 2006 annual sales to be US $14 million range. Of which, US$221,000 was a Net Income for the company.

 

 

CURRENT OPERATIONS

 

NAICS Code:   31        Manufacturing Food, Beverage, Textile, Clothing, S

 

Number of Employees : 17  

 

Business Activity:

The Firm is an importer of textiles and manufacturer of apparel.

 

The Firm imports from India and Pakistan a wide variety of textiles used for the production of apparel. The Firm specializes in denim and leathers, however has recently spread to bed linens and other house-wares. The Firm targets large department and retail apparel stores.

 

The heading address is the Firm's headquarters since December 2006, and consists of 4,360 square feet of leased office space. Prior to December 2006, the Company was headquartered at 255 Bleecker St., New York, NY 10014, and leasing 4500 square feet of office space. 

 

The Firm also has a 17,000 square foot leased warehouse and manufacturing facility at:

525 DELL ROAD

CARLSTADT, NJ 07072

 

Prior to being at the above location, the Firm reportedly leased 23,000 square feet of warehouse and manufacturing facilities at:

80-90 ENTERPRISE AVE

SECAUCUS, NEW JERSEY 07094

 

 

TRADE REFERENCES

 

Trade references were supplied by the Subject, however, it is not our policy to contact references residing outside the U.S., Canada or the Caribbean.

 

Supplier: Siddiqsons Denim Mills Ltd.

Address: D53 Textile Ave S.I.T.E.

Ph: 21-267-7480

Fax:21-256-4613

 

Supplier: Stitchcraft Private Ltd.

Address: 20 KM Yohana Abad

Ph: 42-527-2904

Fax:42-527-2901

 

 

PUBLIC RECORD

 

FILING INFORMATION

Filing Number:  608025768221

Filing Date:  08/02/2006

Expiration Date:  08/02/2006

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

80-90 ENTERPRISE AVENUE, SOUTH

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  WELLS FARGO HSBC TRADE BANK, NATIONAL ASSOCIATION

230 W. MONROE

CHICAGO, IL 60606

COLLATERAL INFORMATION

Collateral Type:  ALL ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL NEGOTIABLE INSTRUMENTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL COMPUTER EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL INVENTORY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL MACHINERY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL FIXTURES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

-

FILING INFORMATION

Filing Number:  612156215253

Filing Date:  12/15/2006

Expiration Date:  08/02/2011

Filing Type:  AMENDMENT

Filing Date of Related Filing:  08/02/2006

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

512 7TH AVENUE, 15TH FLOOR

NEW YORK, NY 10018

AMBITION APPAREL, INC.

80-90 ENTERPRISE AVENUE, SOUTH

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  WELLS FARGO HSBC TRADE BANK, NATIONAL ASSOCIATION

230 W. MONROE

CHICAGO, IL 60606

-

FILING INFORMATION

Filing Number:  706145588234

Filing Date:  06/14/2007

Filing Time:  5:13PM

Filing Type:  AMENDMENT

 

Filing Date of Related Filing:  08/02/2006

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

80-90 ENTERPRISE AVENUE, SOUTH

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  WELLS FARGO BANK, NATIONAL ASSOCIATION

120 MOUNTAIN VIEW BLVD, 2ND FLOOR

BASKING RIDGE, NJ 07920-3444

-

FILING INFORMATION

Filing Number:  21715082

Filing Date:  08/04/2003

Filing Time:  5:00PM

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

315 W STATE ST

TRENTON, NJ 08618

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL INC.

80-90 ENTERPRISE AVENUE

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  DCD TRADE SERVICES, LLC

57 WEST 38TH STREET

NEW YORK, NY 10018

COLLATERAL INFORMATION

Collateral Type:  ALL ASSETS AND PROCEEDS

Collateral Type:  ALL INVENTORY AND PROCEEDS

Collateral Type:  ALL EQUIPMENT AND PROCEEDS

Collateral Type:  ALL NEGOTIABLE INSTRUMENTS AND PROCEEDS

Collateral Type:  ALL ACCOUNT(S) AND PROCEEDS

Collateral Type:  ALL CHATTEL PAPER AND PROCEEDS

Collateral Type:  ALL GENERAL INTANGIBLE(S) AND PROCEEDS

Collateral Type:  ALL COMPUTER EQUIPMENT AND PROCEEDS

-

FILING INFORMATION

Filing Number:  405075370951

Filing Date:  05/07/2004

Expiration Date:  05/07/2004

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL INC.

80-90 ENTERPRISE AVE S

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  THE BANK OF NEW YORK

90 CRYSTAL RUN ROAD 2ND FLOOR

MIDDLETOWN, NY 10941

COLLATERAL INFORMATION

Collateral Type:  FIXTURES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  FARM PRODUCTS/CROPS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  INVENTORY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  2054238

Filing Date:  07/12/2001

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

STATE CAPITOL

TRENTON, NJ 08608

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

80 ENTERPRISE AVENUE

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  REVELATE AMERICA, L.L.C.

57 WEST 38TH STREET

NEW YORK, NY 10018

COLLATERAL INFORMATION

Collateral Type:  FIXTURES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  CONTRACT RIGHTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  INVENTORY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  MACHINERY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  VEHICLES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  FARM PRODUCTS/CROPS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ACCOUNTS RECEIVABLE INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  NEGOTIABLE INSTRUMENTS INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  2055505

Filing Date:  07/19/2001

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

STATE CAPITOL

TRENTON, NJ 08608

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

80 ENTERPRISE AVENUE

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  CAPITAL FACTORS, INC.

120 EAST PALMETTO PARK ROAD

BOCA RATON, FL 33432

ASSIGNEE INFORMATION

Assignee(s):  DCD CAPITAL, L.L.C.

57 WEST 38TH STREET

NEW YORK, NY 10018

COLLATERAL INFORMATION

Collateral Type:  ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  CONTRACT RIGHTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  MACHINERY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  FIXTURES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  VEHICLES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  INVENTORY INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  1986767

Filing Date:  03/19/2002

Filing Type:  AMENDMENT

Filing Date of Related Filing:  07/18/2000

Filing Office:  SECRETARY OF STATE/UCC DIVISION

STATE CAPITOL

TRENTON, NJ 08608

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

145 KANSAS STREET

HACKENSACK, NJ 07601

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  HSBC BANK USA

--

FILING INFORMATION

Filing Number:  2055505

Filing Date:  07/24/2002

Filing Type:  AMENDMENT

Filing Date of Related Filing:  07/19/2001

Filing Office:  SECRETARY OF STATE/UCC DIVISION

STATE CAPITOL

TRENTON, NJ 08608

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  CAPITAL FACTORS, INC.

--

FILING INFORMATION

Filing Number:  22518156

Filing Date:  08/12/2004

Filing Time:  5:00PM

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

315 W STATE ST

TRENTON, NJ 08618

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

88-90 ENTERPRISE AVENUE

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  PNC BANK NATIONAL ASSOCIATION

TWO TOWER CENTER BOULEVARD

EAST BRUNSWICK, NJ 08816

COLLATERAL INFORMATION

Collateral Type:  ALL ASSETS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL COMPUTER EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL INVENTORY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL FIXTURES INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  1131780

Filing Date:  07/12/2001

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

225 BLEECKER STREET

NEW YORK, NY 10014

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  REVELATE AMERICA, L.L.C.

57 WEST 38TH STREET

NEW YORK, NY 10018

COLLATERAL INFORMATION

Collateral Type:  ALL FIXTURES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CONTRACT RIGHTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL INVENTORY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL MACHINERY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL VEHICLES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL FARM PRODUCTS/CROPS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL ACCOUNTS RECEIVABLE INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL NEGOTIABLE INSTRUMENTS INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  1135092

Filing Date:  07/19/2001

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

225 BLEECKER STREET

NEW YORK, NY 10014

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  CAPITAL FACTORS, INC.

120 EAST PALMETTO PARK ROAD

BOCA RATON, FL 33432

COLLATERAL INFORMATION

Collateral Type:  ALL ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CONTRACT RIGHTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL MACHINERY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL FIXTURES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL VEHICLES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL INVENTORY INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  2015016

Filing Date:  01/22/2002

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

80 ENTERPRISE AVENUE

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  ISRAEL DISCOUNT BANK OF NEW YORK

511 FIFTH AVENUE

NEW YORK, NY 10117

COLLATERAL INFORMATION

Collateral Type:  ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  CONTRACT RIGHTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  INVENTORY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ACCOUNTS RECEIVABLE INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  NEGOTIABLE INSTRUMENTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  FIXTURES INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  MACHINERY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  COMPUTER EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  2061858

Filing Date:  03/18/2002

Filing Type:  AMENDMENT

Filing Date of Related Filing:  07/16/1998

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  HSBC BANK USA FORMERLY KNOWN AS MARINE MIDLAND BANK

--

FILING INFORMATION

Filing Number:  2143619

Filing Date:  06/19/2002

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

80-90 ENTERPRISE AVENUE

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  ROSENTHAL &  ROSENTHAL, INC.

1370 BROADWAY

NEW YORK, NY 10018

COLLATERAL INFORMATION

Collateral Type:  ACCOUNT(S) AND PROCEEDS

Collateral Type:  GENERAL INTANGIBLE(S) AND PROCEEDS

Collateral Type:  RETURNED/RECLAIMED OR REPOSSESSED GOODS AND PROCEEDS

--

FILING INFORMATION

Filing Number:  2177524

Filing Date:  08/01/2002

Filing Type:  AMENDMENT

Filing Date of Related Filing:  07/19/2001

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

225 BLEECKER STREET

NEW YORK, NY 10014

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  CAPITAL FACTORS, INC.

120 EAST PALMETTO PARK ROAD

BOCA RATON, FL 33432

--

FILING INFORMATION

Filing Number:  304070757154

Filing Date:  04/07/2003

Expiration Date:  07/16/2008

Filing Type:  CONTINUATION

Filing Date of Related Filing:  07/16/1998

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

 

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

255 BLEECKER STREET

NEW YORK, NY 10014-4438

LEATHER'S MASTER INC.

255 BLEECKER STREET

NEW YORK, NY 10014-4438

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  MARINE MIDLAND BANK

1 MMC, 18TH FLOOR, ATTN: BUSINESS LENDING CENTER

BUFFALO, NY 14203

--

FILING INFORMATION

Filing Number:  408120830062

Filing Date:  08/12/2004

Expiration Date:  08/12/2004

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  AMBITION APPAREL, INC.

88-90 ENTERPRISE AVENUE

SECAUCUS, NJ 07094

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  PNC BANK NATIONAL ASSOCIATION

TWO TOWER CENTER BOULEVARD

EAST BRUNSWICK, NJ 08816

COLLATERAL INFORMATION

Collateral Type:  ALL ASSETS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL COMPUTER EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL INVENTORY INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL FIXTURES INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  141570

Filing Date:  07/20/2000

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  LEATHER'S MASTER INC.

255 BLEECKER STREET

NEW YORK, NY 10014

AMBITION APPAREL

255 BLEECKER STREET

NEW YORK, NY 10014

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  DCD CAPITAL, L.L.C.

1359 BROADWAY, STE. 514

NEW YORK, NY 10018

ASSIGNEE INFORMATION

Assignee(s):  BANC OF AMERICA COMMERCIAL CORPORATION

P.O. BOX 4095

ATLANTA, GA 30302

COLLATERAL INFORMATION

Collateral Type:  ALL ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CONTRACT RIGHTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL INVENTORY INCLUDING PROCEEDS AND PRODUCTS

--

FILING INFORMATION

Filing Number:  141570

Filing Date:  07/20/2000

Filing Type:  ORIGINAL

Filing Office:  SECRETARY OF STATE/UCC DIVISION

162 WASHINGTON AVE

ALBANY, NY 12210

DEBTOR INFORMATION

Debtor(s):  LEATHER'S MASTER INC.

255 BLEECKER STREET

NEW YORK, NY 10014

AMBITION APPAREL

255 BLEECKER STREET

NEW YORK, NY 10014

SECURED PARTY OR CREDITOR INFORMATION

Secured Party(s):  DCD CAPITAL, L.L.C.

1359 BROADWAY, STE. 514

NEW YORK, NY 10018

ASSIGNEE INFORMATION

Assignee(s):  BANC OF AMERICA COMMERCIAL CORPORATION

P.O. BOX 4095

ATLANTA, GA 30302

COLLATERAL INFORMATION

Collateral Type:  ALL ACCOUNT(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CONTRACT RIGHTS INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL CHATTEL PAPER INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL GENERAL INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS

Collateral Type:  ALL INVENTORY INCLUDING PROCEEDS AND PRODUCTS

 

A nationwide search of public and bankruptcy courts revealed no uniform commercial codes, tax liens, or legal actions or bankruptcy filings under the Subject's name.

 

 

GENERAL COMMENTS

 

The Firm is a well established importer of textiles and manufacturer of apparel. A significant payment record could not be developed. Two supplier references were provided in Pakistan. No judgements, tax liens or bankruptcy

 petitions were traced to the Firm.

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions