MIRA INFORM REPORT

Report Date :

05.04.2008

IDENTIFICATION DETAILS

Name :	FEDERAL FLANGE LTD

Registered Office :	4014 Pinemont Dr Houston, TX 77018-1104

Country :	United States

Date of Incorporation :	02/1983

Com. Reg. No.:	787091348

Legal Form :	Private Limited Company

Line of Business :	Nonferrous Forgings

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Excellent

Payment Behaviour :	Regular

Litigation :	Clear

Matching Name and Address

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

FEDERAL FLANGE
P. O. BOX 925097
HOUSTON, TX 77292-5097

Executive Summary

Intelliscore for FEDERAL FLANGE LTD

83.85

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

100

High risk

Low risk

LOW RISK
95% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF ACTIVE ACCOUNTS

NUMBER OF CURRENT ACCOUNTS

NUMBER OF RECENTLY ACTIVE ACCOUNTS

LENGTH OF CREDIT HISTORY GREATER THAN AVERAGE

Current DBT range compared to all industries*

0 DBT
($4,700 Balance)

0-15

16-50

51+

80%

11%

% of US businesses falling within DBT range

DBT Norms:
All industries: 7 DBT Same industry: 5 DBT

Legal Filings and Collections

Bankruptcy filings:

Tax lien filings:

Judgment filings: details (FILED 01/05)

Total collections:

Sum of legal filings:

$50,000

UCC filings:

Cautionary UCC filings present?

Trade Information

Monthly average DBT:

Highest DBT previous 6 months:

Highest DBT previous 5 quarters:

Total continuous trades:

Current continuous trade balance:

$4,700

Trade balance of all trades (23):

$10,900

Average balance previous 5 quarters:

$4,020

Highest credit amount extended: details

$6,400

6 month balance range:

$2,400 - $4,900

* 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.

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 CONTRCT

Legal Filings and Collections

Judgments

File
Date

Filing
Type

Status

Amount

Plaintiff

Filing
Number

Jurisdiction

01/06/2005

Judgment

Filed

$50,000

T C MACHINE TOOL INC

827177

HARRIS COUNTY COURT-

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

$100

100%

CUST 7 YR

CHEMICALS

02/2008

NET 30

CHEMICALS

02/2008

NET 30

+COMMUNICTN

03/2008

02/2008

VARIED

$4,100

100%

CUST 5 YR

+FACTOR

03/2008

NET 30

$1,400

<$100

100%

FACTOR

03/2008

NET 30

$6,400

CUST 2 YR

FACTOR

02/2008

NET 30

CUST 2 YR

FREIGHT

03/2008

12/2007

VARIED

$3,100

+FREIGHT

11/2007

06/2007

VARIED

$3,600

$400

100%

OFFC SUPPL

03/2008

02/2002

CREDIT

+PLUMBING

02/2008*

02/2008

NET 10

$200

100%

SAFTY PROD

03/2008*

NET30

CUST 1 YR

TRANSPORTN

03/2008

NET 30

$2,400

PROMPT

TRUCK DLR

03/2008

CONTRCT

$300

WAREHOUSE

02/2008

11/2007

CREDIT

$1,300

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

$22,700

$4,700

100%

DBT: 0

Newly Reported

$200

100%

DBT: 0

Trade Lines Totals

$22,900

$4,900

100%

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

+AIR TRANS

09/2006

08/2006

$1,300

100%

CUST 23 YR

CHEMICALS

10/2005

NET 30

$100

CONST MACH

07/2007

N10PROX

+CRED CARD

06/2007

05/2007

REVOLVE

$200

<$100

100%

CUST 16 YR

FACTOR

06/2006

10/2003

NET 30

CUST 3 YR

+FRGHT FWRD

06/2006

05/2006

NET 15

$100

100%

SATSFTRY

+IRON&STEEL

10/2006

NET 30

$4,500

100%

TELECOM

05/2007

04/2007

NET 30

$100

CUST 15 YR

Monthly Payment Trends

Payment Trends Analysis
NONFERROUS FORGINGS INDUSTRY SIC: 3463

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

$4,700

100%

FEB08

84%

$2,800

100%

JAN08

85%

$4,200

100%

DEC07

85%

$3,200

100%

NOV07

86%

$2,800

100%

OCT07

85%

$3,300

100%

SEP07

86%

$2,400

100%

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

$3,100

100%

Q3 - 07

JUL-SEP

$2,700

100%

Q2 - 07

APR-JUN

$4,900

69%

20%

11%

Q1 - 07

JAN-MAR

$3,600

98%

Q4 - 06

OCT-DEC

$5,800

79%

21%

Inquiries

Summary of Inquiries

Business
Category

MAR08

FEB08

JAN08

DEC07

NOV07

OCT07

SEP07

AUG07

JUL07

ALARM SYS

BANK

CRED CARD

EQUIPMENT

Totals

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

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 ASSIGNED Date: 01/31/2008

Filing Number: 0800038669

Original Filing Date: 03/19/2001

Original Filing Number: 100050677

Original Filing State: TX

Jurisdiction: SEC OF STATE TEXAS

Secured Party: MERRILL LYNCH COMMERCIAL FINANCE CORP. IL CHICAGO 60601 222

Collateral:

UCC ASSIGNED Date: 01/31/2008

Filing Number: 0800038418

Original Filing Date: 08/10/1998

Original Filing Number: 9800160985

Original Filing State: TX

Jurisdiction: SEC OF STATE TEXAS

Secured Party: MERRILL LYNCH COMMERCIAL FINANCE CORP. IL CHICAGO 60601 222

Collateral:

UCC CONTINUED Date: 03/03/2008

Filing Number: 0800075701

Original Filing Date: 08/10/1998

Original Filing Number: 9800160985

Original Filing State: TX

Jurisdiction: SEC OF STATE TEXAS

Secured Party: MERRILL LYNCH COMMERCIAL FINANCE CORP. IL CHICAGO 60601 222

Collateral:

Company Background Information

Corporate Registration

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF TEXAS

State of Origin: TX

Current Status: Active

Business Type: Institutions - Profit

Charter Number: 0011027510

Agent: CHAS LYONS

Agent Address: 4014 PINEMONT DR HOUSTON, TX

Additional Company Background Information

Key Personnel

Principal(s):	C LYONS, PRESIDENT
	BARBARA HICKS, DIRECTOR O
	DOUG CHAMBERS, MANAGER

Operating Information

Business Type: Institutions

Primary SIC Code: NONFERROUS FORGINGS - 3463

Secondary SIC Code: MACHINERY, EXCEPT ELECTRICAL, NEC - 3599

Additional SIC Code: 3494 - 3498

Number of Employees: 80

Sales: $18,000,000

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

MIRA INFORM REPORT

Company Information

Matching Name and Address

Executive Summary

Performance Analysis

Legal Filings and Collections

Trade Payment Information

Trade Payment Totals

Additional Payment Experiences

Monthly Payment Trends

Quarterly Payment Trends

Inquiries

UCC Profile

Company Background Information