MIRA INFORM REPORT

Report Date :

01.04.2008

IDENTIFICATION DETAILS

Name :	PHILLIPS MACHINE SERVICE INC

Registered Office :	360 Harper Park Dr, Beckley, WV 25801-2659

Country :	United States

Date of Incorporation :	01/1977

Legal Form :	Private Limited Company

Line of Business :	Mining Machinery

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

Company Information

PHILLIPS MACHINE SERVICE INC
360 HARPER PARK DR
BECKLEY, WV 25801-2659
(304) 255-0537

Business Identification Number:

725372355

File Established:

PRIOR TO 01/1977

SIC code:

MINING MACHINERY - 3532

Matching Name and Address

This business is linked to the one displayed above. The report shows the best view of the business.

PHILLIPS MACHINES
367 GEORGE ST
BECKLEY, WV 25801-2652

Executive Summary

Intelliscore for PHILLIPS MACHINE SERVICE INC

62.95

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

100

High risk

Low risk

MEDIUM RISK
47% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF CURRENT ACCOUNTS

NUMBER OF TRADES NET 1-30 TERMS

PRESENCE OF DELINQUENT ACCOUNTS

NUMBER OF TRADES WITH A HIGH BALANCE TO HIGH CREDIT RATIO

Current DBT range compared to all industries*

0 DBT
($25,600 Balance)

0-15

16-50

51+

80%

11%

% of US businesses falling within DBT range

DBT Norms:
All industries: 7 DBT Same industry: 7 DBT

Legal Filings and Collections

Bankruptcy filings:

Tax lien filings:

Judgment filings:

Total collections: details (PLACED 07/05-08/05)

Sum of legal filings:

UCC filings: details (FILED 01/04-10/07)

Cautionary UCC filings present?

Yes**

Trade Information

Monthly average DBT:

Highest DBT previous 6 months:

Highest DBT previous 5 quarters:

Total continuous trades:

Current continuous trade balance:

$25,600

Trade balance of all trades (22):

$153,500

Average balance previous 5 quarters:

$33,780

Highest credit amount extended: details

$19,900

6 month balance range:

$23,400 - $29,200

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

** Cautionary UCC Filings include one or more of the following collateral:
Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

7 month DBT trends

90+

Sep07

Oct07

Nov07

Dec07

Jan08

Feb08

Current

Quarterly DBT trends (previous 5 quarters)

90+

4Q06

1Q07

2Q07

3Q07

4Q07

Performance Analysis

Predicted DBT for 05/28/2008: 1 DBT

Payment Trend Indication:
Are Stable

Industry payment comparison:
Has paid sooner than 50% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CREDIT, and N10PROX

Legal Filings and Collections

Collections

Date
Placed

Status

Original
Balance

Outstanding
Balance

Date
Closed

Agency

Agency
Phone

08/2005

Disputed

$4,205

DIVERSIFIED ADJUSTMENT SERVICE

(763) 783-2301

07/2005

Disputed

$511

DIVERSIFIED ADJUSTMENT SERVICE

(763) 783-2301

Trade Payment Information

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

Business
Category

Date
Reported

Last
Sale

Payment
Terms

Recent
High
Credit

Balance

Cur

1-30

31-60

61-90

91+

Comments

+ADVERTISNG

03/2008

NET 30

<$100

100%

CUST 5 YR

+AIR TRANS

02/2008

$3,100

$100

61%

39%

CUST 22 YR

+AIR TRANS

02/2008

NET 30

$2,400

100%

CUST 7 YR

+COMMUN SVC

02/2008

NET 21

$700

$400

100%

CUST 4 YR

=FINCL SVCS

03/2008

02/2008

NET 30

$12,800

$2,400

100%

SATSFTRY

=FINCL SVCS

03/2008

02/2008

VARIED

$19,900

$18,300

100%

SATSFTRY

=FINCL SVCS

03/2008

02/2008

NET

$2,200

$500

100%

+FREIGHT

03/2008

02/2008

VARIED

$500

$100

100%

MACH DISTR

01/2008

02/2007

1/10N30

<$100

CUST 3 YR

+PACKAGING

03/2008

NET 30

$900

$200

100%

CUST 6 YR

+PAINTS

03/2008

02/2008

1/10PRX

$1,200

$700

67%

33%

-SAFTY PROD

03/2008

NET30

$400

100%

SAFTY PROD

11/2007

09/2003

NET 30

CUST 12 YR

WAREHOUSE

02/2008

10/2006

CREDIT

$400

Trade Payment Totals

Trade Payment Experiences

Account Status
Days Beyond Terms

Type

Lines
Reported

Recent
High
Credit

Balance

Cur

1-30

31-60

61-90

91+

Comments

Continuously Reported

$44,700

$25,600

97%

DBT: 0

Newly Reported

DBT:

Trade Lines Totals

$44,700

$25,600

97%

DBT: 0

Additional Payment Experiences

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

Business
Category

Date
Reported

Last
Sale

Payment
Terms

Recent
High
Credit

Balance

Cur

1-30

31-60

61-90

91+

Comments

COMPUTERS

08/2005

SPECIAL

CUST 6 YR

DP EQUIP

12/2006

NET 30

$700

=DP SUPPLY

07/2005

06/2005

NET 30

$24,000

$8,000

78%

22%

CUST 6 YR

+ELEC SUPLR

04/2005

VARIED

$117,800

98%

EQUIP LEAS

02/2008

SPECIAL

FINCL SVCS

05/2006

CONTRCT

$17,700

ACCTCLOSED

+LEASING

03/2008

NET 30

$2,100

$2,000

97%

CUST 5 YR

+LEASING

02/2008

CONTRCT

$100

100%

Monthly Payment Trends

Payment Trends Analysis
MINING MACHINERY INDUSTRY SIC: 3532

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

$25,600

97%

FEB08

81%

$25,900

99%

JAN08

78%

$24,300

99%

DEC07

76%

$25,600

97%

NOV07

77%

$27,300

99%

OCT07

80%

$28,200

99%

SEP07

80%

$29,200

98%

Quarterly Payment Trends

Payment History – Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q4 – 07

OCT-DEC

$26,900

98%

Q3 – 07

JUL-SEP

$30,400

97%

Q2 – 07

APR-JUN

$32,600

99%

Q1 – 07

JAN-MAR

$36,600

98%

Q4 – 06

OCT-DEC

$42,400

97%

UCC Profile

The number of UCC Filings is summarized with the 10 most recent listed below.

A full UCC detail report is available the same business day by entering UCC-725372355-C033261080
into the Business ID Number field on the BizApps order page.

UCC Summary

Filings

Date Range

Year

Cautionary
UCCs^**

Total
Filed

Released/
Term'd

Cont

Amended/
Assigned

JAN - PRESENT

2008

JUL - DEC

2007

JAN - JUN

2007

JUL - DEC

2006

JAN - JUN

2006

PRIOR TO JAN

2006

Total

** Cautionary UCC Filings include one or more of the following collateral:
Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

UCC Filings

UCC FILED Date: 10/22/2007

Filing Number: 200700111665

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: UNITED BANK, INC. WV BECKLEY 25802 129 MAIN STREET

Collateral: HEREAFTER AQUIRED PROP, INVENTORY, EQUIP, VEHICLES, FURN & FIX, UNDEFINED

UCC FILED Date: 07/12/2007

Filing Number: 200700064144

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: UNITED BANK, INC. WV BECKLEY 25801 129 MAIN STREET

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 09/25/2006

Filing Number: 200600959825

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: KUBOTA CREDIT CORPORATION, U.S.A. GA SUWANEE 30024 PO BOX 24

Collateral: EQUIP

UCC TERMINATED Date: 10/17/2007

Filing Number: 200600959825

Original Filing Date: 09/25/2006

Original Filing Number: 2006009598

Original Filing State: WV

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: KUBOTA CREDIT CORPORATION, USA GA SUWANEE 30024 1025 NORTHBR

Collateral:

UCC FILED Date: 03/13/2006

Filing Number: 200600850382

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: CITICORP LEASING, INC. NY HARRISON 10528 450 MAMARONECK AVE.

Collateral: EQUIP

UCC FILED Date: 09/19/2005

Filing Number: 200500763350

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: UNITED BANK, INC. WV BECKLEY 25802 129 MAIN STREET

Collateral: VEHICLES, EQUIP, FURN & FIX, INVENTORY, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 02/22/2005

Filing Number: 200500642998

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: MCNB BANK AND TRUST CO. WV WELCH 24801 PO BOX 549

Collateral: UNDEFINED

UCC FILED Date: 08/17/2004

Filing Number: 200400547477

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: TOYOTA MOTOR CREDIT CORPORATION CA TORRANCE 90510 P.O. BOX 3

Collateral: EQUIP

UCC FILED Date: 08/06/2004

Filing Number: 200400540522

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: MCNB BANK AND TRUST CO. WV WELCH 24801 PO BOX 549

Collateral: EQUIP, UNDEFINED

UCC FILED Date: 01/12/2004

Filing Number: 200400419311

Jurisdiction: SEC OF STATE W VIRGI

Secured Party: MCNB BANK AND TRUST CO. WV WELCH 24801 75 WYOMING ST

Collateral: VEHICLES, EQUIP, FURN & FIX, UNDEFINED

Commercial Finance Relationships

Leasing Relationships

Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 12/2004

Original Lease Amount: $2,237

Lease Product Type: OFFICE EQUP

Lease Close Date: 12/2007

Lease Term: 36 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $62

Amount of Overdue Payments: $0

Remaining Balance: $0

Late Payments: 0

Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 03/2005

Original Lease Amount: $2,237

Lease Product Type: OFFICE EQUP

Lease Term: 36 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $62

Amount of Overdue Payments: $0

Remaining Balance: $186

Late Payments: 0

Company Background Information

Additional Company Background Information

Key Personnel

Principal(s):	JIM PHILLIPS, VICE PRESI
	RENNIE HILL
	BRUCE DICKERSON, COORDINATO

Operating Information

Primary SIC Code: MINING MACHINERY - 3532

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