MIRA INFORM REPORT

 

 

Report Date :

03.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

D Q B INDUSTRIES INC

 

 

Registered Office :

32165 Schoolcraft Rd Livonia, MI 48150-1833

 

 

Country :

United States

 

 

Date of Incorporation :

04.06.1960

 

 

Com. Reg. No.:

749459326

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Brooms and Brushes

 

 

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 :

Slow by 7 days

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

 

Company Information

 

 

D Q B INDUSTRIES INC
32165 SCHOOLCRAFT RD
LIVONIA, MI 48150-1833
(734) 525-5660

Business Identification Number:

749459326

File Established:

PRIOR TO 01/1977

Date of Incorporation:

04/06/1960

SIC code: 

BROOMS & BRUSHES - 3991

Tax ID:

38-1623297

 

Executive Summary

 

 

  Intelliscore for D Q B INDUSTRIES INC

 

 

63.49

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


MEDIUM RISK
48% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF ACTIVE ACCOUNTS

RECENTLY DELINQUENT OR DEROGATORY AVG ACCOUNT BALANCES

NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS

NUMBER OF DELINQUENT ACCOUNTS



  Current DBT range compared to all industries*

7 DBT
($34,000 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 7 DBT        Same industry: 6 DBT

 

 

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections:

0

Sum of legal filings:

$0

UCC filings: details (FILED 06/03-10/04)

2

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

7

Highest DBT previous 6 months:

17

Highest DBT previous 5 quarters:

61

Total continuous trades:

10

Current continuous trade balance:

$34,000

Trade balance of all trades (15):

$37,600

Average balance previous 5 quarters:

$23,980

Highest credit amount extended: details

$394,300

6 month balance range:

$9,400 - $47,500

* 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+

60

30

 


17

 


0

 


12

 


4

 


5

 


5

 


7

 

0

Sep07

Oct07

Nov07

Dec07

Jan08

Feb08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


0

 


0

 


61

 


18

 


8

 

0

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

 

Performance Analysis

 

Predicted DBT for 05/28/2008: 7 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 0000000

 

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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

 AIR TRANS

02/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 3 YR

 COMPUTERS

01/2008

 

 

 

$4,500

$0

 

 

 

 

 

CUST 4 YR

 EQUIPMENT

03/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 4 YR

=FINCL SVCS

03/2008

03/2008

NET 30

 

$27,900

$9,500

100%

 

 

 

 

SATSFTRY

=FREIGHT

03/2008

02/2008

VARIED

 

$394,300

$23,900

55%

42%

 

 

3%

 

 INDUS SUPL

03/2008

03/2006

NET 30

 

$100

$0

 

 

 

 

 

CUST 4 YR

 MACH DISTR

01/2008

03/2005

1/10N30

 

 

$0

 

 

 

 

 

CUST 5 YR

 PACKAGING

03/2008

11/2007

NET 30

 

<$100

$0

 

 

 

 

 

CUST 3 YR

 SAFTY PROD

03/2008

 

NET30

 

 

$0

 

 

 

 

 

CUST 4 YR

=TRUCK DLR

03/2008

 

CONTRCT

 

$4,600

$600

 

100%

 

 

 

 

 

 

 

 

 

 

 

 

 

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

10

 

 

$431,500

$34,000

67%

31%

 

 

2%

DBT: 7

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

10

 

 

$431,500

$34,000

67%

31%

 

 

2%

DBT: 7

 

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

 AIR TRANS

08/2005

 

 

 

<$100

$0

 

 

 

 

 

 

+OFFC SUPPL

10/2007

10/2007

NET 30

 

$400

$100

100%

 

 

 

 

CUST 27 YR

=PETROLEUM

03/2007

03/2007

VARIED

 

$1,800

$1,000

100%

 

 

 

 

CUST 10 YR

+TEMP HELP

07/2006

 

NET 30

 

$1,500

$1,500

100%

 

 

 

 

 

=WHLSE TRAD

12/2006

 

NET 30

 

$1,100

$1,000

 

100%

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
BROOMS & BRUSHES INDUSTRY SIC: 3991

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

7

$34,000

 

67%

31%

 

 

2%

FEB08

88%

6

5

$47,500

 

74%

23%

1%

2%

 

JAN08

74%

7

5

$32,400

 

78%

15%

7%

 

 

DEC07

87%

6

4

$24,000

 

74%

26%

 

 

 

NOV07

87%

6

12

$41,200

 

41%

51%

7%

 

1%

OCT07

83%

7

0

$9,400

 

100%

 

 

 

 

SEP07

83%

7

17

$43,200

 

31%

51%

16%

 

2%

 

 

 

 

 

 

 

 

Quarterly Payment Trend

 

 

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

8

$21,700

 

54%

42%

4%

 

 

Q3 - 07

JUL-SEP

18

$40,300

 

27%

54%

17%

 

2%

Q2 - 07

APR-JUN

61

$42,200

 

16%

17%

7%

25%

35%

Q1 - 07

JAN-MAR

0

$15,700

 

100%

 

 

 

 

Q4 - 06

OCT-DEC

0

$0

 

 

 

 

 

 

 

UCC Profile

 

The UCC Filings are summarized and listed below.

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

1

2

 

 

 

Total

 

1

2

 

 

 

 

** 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.

 

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  UCC Filings

 

UCC FILED Date: 10/18/2004

Filing Number: 20042032186

Jurisdiction: SEC OF STATE MICHIGA

Secured Party: ERVIN LEASING COMPANY MI ANN ARBOR 48108 3893 RESEARCH PARK

Collateral: EQUIP


UCC FILED Date: 06/24/2003

Filing Number: 20031220029

Jurisdiction: SEC OF STATE MICHIGA

Secured Party: STANDARD FEDERAL BANK N.A. MI TROY 48007 P.O. BOX 5040

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

Commercial Finance Relationships

 

  Leasing Relationships

 

Leasing Company: NON-DISCLOSED

Origination Date: 10/2004

Original Lease Amount: $6,614

Lease Product Type: EQUIPMENT

Lease Close Date: 10/2008

Lease Term: 48 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Due Date: 03/10/2008

Current Scheduled Amount Due: $137

Amount of Overdue Payments: $0

Remaining Balance: $1,102

Current Payments: 38

Late Payments: 2


Leasing Company: FORD MOTOR CREDIT

Address: DEARBORN, MI 48121- 0

Phone: (313) 337-5677

Origination Date: 12/2005

Original Lease Amount: $11,717

Lease Product Type: AUTOMOTIVE

Lease Term: 24 Months

Payment Interval: 12/YEAR

Current Scheduled Amount Due: $488

Amount of Overdue Payments: $0

Remaining Balance: $1,372

Late Payments: 0


Leasing Company: FORD MOTOR CREDIT

Address: DEARBORN, MI 48121- 0

Phone: (313) 337-5677

Origination Date: 01/2007

Original Lease Amount: $13,455

Lease Product Type: AUTOMOTIVE

Lease Term: 24 Months

Payment Interval: 12/YEAR

Current Scheduled Amount Due: $560

Amount of Overdue Payments: $0

Remaining Balance: $5,606

Late Payments: 0


Leasing Company: FORD MOTOR CREDIT

Address: DEARBORN, MI 48121- 0

Phone: (313) 337-5677

Origination Date: 01/2008

Original Lease Amount: $11,561

Lease Product Type: AUTOMOTIVE

Lease Term: 24 Months

Payment Interval: 12/YEAR

Current Scheduled Amount Due: $481

Amount of Overdue Payments: $0

Remaining Balance: $10,116

Late Payments: 0


Leasing Company: FORD MOTOR CREDIT

Address: DEARBORN, MI 48121- 0

Phone: (313) 337-5677

Origination Date: 03/2008

Original Lease Amount: $9,871

Lease Product Type: AUTOMOTIVE

Lease Term: 24 Months

Payment Interval: 12/YEAR

Current Scheduled Amount Due: $411

Amount of Overdue Payments: $0

Remaining Balance: $9,460

Late Payments: 0

Company Background Information

 

 

  Corporate Registration

 

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF MICHIGAN

State of Origin: MI

Date of Incorporation: 04/06/1960

Current Status: Active


Business Type: Institutions - Profit

Charter Number: 153665

Federal Tax ID: 38-1623297


Agent: DONALD WEINBAUM

 

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  Additional Company Background Information

 

Key Personnel

Principal(s): 

DONALD WEINBAUM, OWNER

 

BETH MARTIN, COMPTROLLE

 

JOHN AUGOUSTIS, MANAGER


Operating Information

Business Type: Institutions


Primary SIC Code: BROOMS & BRUSHES - 3991

Secondary SIC Code: BUSINESS SERVICES - 7300

Additional SIC Code: 3537 - 2392


Number of Employees: 50

 

 

 

 

 

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