MIRA INFORM REPORT

Report Date :

12.04.2008

IDENTIFICATION DETAILS

Name :	OLYMPUS NDT CANADA INC

Registered Office :	505 Boul Du Parc-Technologique Quebec, QC G1P4S9

Country :	Canada

Date of Incorporation :	06/2005

Legal Form :	Private Limited Company

Line of Business :	Designs and Manufactures Eddy Current and Ultrasound Test Systems for Manual and Automated Inspections in Nondestructive Testing (NDT).

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 :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Executive Summary

Composite Index and Trend

0
Lowest risk

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

3Q07

4Q07

1Q08

Composite Index Risk Indicators:
*0-9:*	Lowest risk	*31-40:*	High risk
*10-20:*	Average risk	*41-69:*	Highest risk
*21-30:*	Above average risk	*70:*	Bankruptcy reported

Payment Index and Trend

5
5 days past due

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

3Q07

4Q07

1Q08

Legal and Derogatory Items

Bankruptcy filings:		0
	Most recent	N/A

Judgments:		0
	Amount	N/A
	Most recent	N/A

Suits:		1
	Amount	N/A
	Most recent	Dec 2004

Collection claims:		0
	Amount	N/A
	Most recent	N/A

Returned checks:		0
	Amount	N/A
	Most recent	N/A

Credit Information

Number of lines:
	Financial	0
	Trade	27

Total balance:
	Financial	$0
	Trade	$262,292

High credit limit:
	Financial	$0
	Trade	$363,393

Average balance:
	Financial	0
	Trade	$9,715

Inquiries:

Payment Information

Quarterly Payment Trends

Quarters

Composite
Index

Payment
Index

Total
Trade
Lines

Total
Balance

Current

Q1 - 2008

$64,513

94%

Q4 - 2007

$206,582

58%

34%

Q3 - 2007

$105,854

88%

10%

Q2 - 2007

$173,468

85%

13%

Q1 - 2007

$80,893

74%

25%

Q4 - 2006

$161,865

79%

14%

Q3 - 2006

$161,742

53%

24%

21%

Q2 - 2006

$120,094

77%

21%

Q1 - 2006

$46,491

87%

10%

Trade Payment Experiences

Supplier

Date
Reported

High
Credit

Total
Balance

Current

Services-Computer

Apr 2008

$21,262

Wholesale-Elec Equip

Apr 2008

$59,521

$5,169

Wholesale-Elec Equip

Apr 2008

$2,107

Printer-Commercial

Apr 2008

$10,896

Wholesale-Elec Equip

Apr 2008

$20,671

Mfr-Sheet Metal

Mar 2008

$366

Trucking

Mar 2008

$598

FINANCIAL LINX

Mar 2008

$33,225

$27,961

Arrg Transp of Freight & Cargo

Mar 2008

$25,000

$4,961

$4,303

$658

Wholesale-Chemicals

Mar 2008

$218

Mfr-Valve & Pipe Fittings

Mar 2008

$558

$553

DE LAGE LANDEN FIN

Mar 2008

$13,741

$270

Mfr-Bolt,Screw,Rivets &Washers

Feb 2008

$2,018

$1,506

$512

Services-Employment

Feb 2008

$830

WESTBURNE PLOMBERIE

Feb 2008

$2,940

$33

Transportation Serv

Dec 2007

$132,608

$66,059

$49,483

$16,699

$367

Mfr-Pump & Pumping Equipment

Oct 2007

$302

ACKLAND GRAINGER CANADA INC

Oct 2007

$5,000

$223

$80

$143

Whlsl-Electronic Pts

Sep 2007

$25,170

$20,474

$4,696

Transportation Serv

Jul 2007

$94

Transportation Serv

Jul 2007

$1,758

$63

$130

$55

$1,510

Business Services

May 2007

$1,000

$714

Air Transport

Apr 2007

$47

Whlsl-Ind Mach Sppls

Apr 2007

$2,572

$1,016

$1,556

Wholesale-Chemicals

Apr 2007

$235

Mfr-Fabricated Structural Metl

Mar 2007

$521

Personal Services

Mar 2007

$135

Total

$363,393

$262,292

$179,865

$63,003

$16,754

$2,670

# - Indicates Long Term Secured Debit, which is NOT included in the PI and CI calculation.

Legal Information

Suits

Type of Action:	Statement of Claim
Plaintiff:	INTECH SUPPLIES LTD
Amount:	N/A
Reason:	Damages

Date Filed:	Dec 22, 2004
Court:	Queen's Bench
Court Location:	Vancouver
Court File Number:	SCS047113

Defendant name as it appears in Court Document: R/D TECH INSTRUMENTS INC

Other Legal Information

Type of Action:	Declar. - Settled out of Court
Plaintiff:	CARRIER FRANCOIS
Amount:	$43,500
Reason:	Damages

Date Filed:	Aug 19, 2003
Court:	Quebec Court
Court Location:	Quebec
Court File Number:	002219012

Defendant name as it appears in Court Document: R D TECH INC

Banking Information

Bank Relationships

This bank report was obtained on: Oct 25, 2007
Bank Name:	HSBC BANK CANADA QUEBEC CITY

Address:	2795 BOUL LAURIER SAINTE-FOY, QC G1V4M7 Branch: 016, Transit: 10171

Reference:	CREDIT DEPARTMENT Phone: (418) 656-6941 Fax: (418) 656-1874

Account Type(s):	Chequing account
Account Opened:	For more than 3 years
Account Balance:	Fluctuates with line of credit
Returned Checks:	None

Line of Credit Details
Credit Line Type(s):	Line of credit
Line of Credit Date:	Not available
Line of Credit Authorized:	Low 7 figures
Rating on Line of Credit:	R1
Secured? By What?:	Not available

Signing Officer(s):	Not available




This bank report was obtained on: Mar 19, 2004
Bank Name:	LA BANQUE TORONTO-DOMINION COMPLEXE ST-AMABLE

Address:	1150 RUE CLAIRE-FONTAINE QUEBEC, QC G1R5G4 Branch: 004, Transit: 48325

Reference:	DEPT COMMERCIAL Phone: (418) 522-5005 Fax: (418) 522-2165

Company Background Information

Incorporation

Effective Date:	Nov 01, 2003
Registration Number:	1161843454
Location:	Quebec
Operation Since:	N/A
Comments:	R/D TECH INC FICHIER CORPORATIF DU QUEBEC RAPPORTE LE 4 NOVEMBRE 2003: DATE IMMATRICULATION: 3 NOVEMBRE 2003 ADRESSE DOMICILE: 505 BOUL DU PARC TECHNOLOGIQUE QUEBEC, QC G1P 4S9 STATUT: EN VIGUEUR COMPOSANTES DE FUSION: MATRICULE #1140696999 R/D TECH INC , MATRICULE #1140468712 9005-3745 QUEBEC INC ADRESSE POSTALE: MCCARTHY TETRAULT S R L 1150 CLAIRE FONTAINE 7E ETAGE QUEBEC QC G1R 5G4

Additional Company Information

Key Personnel:

PAUL FOREST, Administrator, Share: N/A

FERNAND OSTIGUY, Administrator, Share: N/A

GUY \AFONTAINE, Administrator, Share: N/A

ANDRE \HOMPSON, Administrator, Share: N/A

NOEL DUBE, Administrator, Share: N/A

ROCK SAMSON, Administrator, Share: N/A

FABRICE CANCRE, Administrator, Share: N/A

ALAIN ALLARD, Administrator, Share: N/A




Number of Employees:	N/A

Other Names or Addresses

Multiple names and/or addresses have been reported for this business. Validations are listed below. Regardless of which address you've chosen to pull this report for, the information is identical.

R/D TECH INC., 505 BOUL DU PARC-TECHNOLOGIQUE, QUEBEC, QC G1P4S9

OLYMPUS NDT CANADA INC, 505 BOUL DU PARC-TECHNOLOGIQUE, QUEBEC, QC G1P4S9

R/D TECH INC., 505 BOUL DU PARC-TECHNOLOGIQUE, QUEBEC, QC G1P4S9

R/D TECH INSTRUMENTS INC, 505 BOUL DU PARC-TECHNOLOGIQUE, QUEBEC, QC G1P4S9

R/D TECH INC., 505 BOUL DU PARC-TECHNOLOGIQUE, QUEBEC, QC G1P4S9

R/D TECH INC, 4495 BOUL WILFRID-HAMEL, QUEBEC, QC G1P2J7

R/D TECH INC., 4495 BOUL WILFRID-HAMEL, QUEBEC, QC G1P2J7

R & D TECHNOLOGIQUE INC, 1200 AV SAINT-JEAN-BAPTISTE, QUEBEC, QC G2E5E8

RECHERCHE ET DEVELOPPEMENT TECHNOLOGIQUE INC, 1405 AV SAINT-JEAN-BAPTISTE, QUEBEC, QC G2E5K2

RECH. ET DEV. TECH. S.F. INC., 1200 AV SAINT-JEAN-BAPTISTE BUREAU 120, QUEBEC, QC G2E5E8

R & D TECHNOLOGIE INC., 1200 AV SAINT-JEAN-BAPTISTE, QUEBEC, QC G2E5E8

RECHERCHE ET DEVELOPPEMENT TECHNOL, 1200 AV SAINT-JEAN-BAPTISTE, QUEBEC, QC G2E5E8

RECHERCHE ET DEVELOPPEMENT TECHNOLOGIQUE C F INC, 1405 AV SAINT-JEAN-BAPTISTE, QUEBEC, QC G2E5K2

R D TECH, 1405 AV SAINT-JEAN-BAPTISTE BUREAU 114, QUEBEC, QC G2E5K2

Inquiries

Inquiries
Inquiry Date	Inquirer's Name/Industry
Apr 08, 2008	Telephone Resellers
Mar 25, 2008	BDCCOSTCTR9040
Mar 12, 2008	Services-Employment
Mar 12, 2008	C D MARIGOT DE LAVAL
Mar 12, 2008	C D MARIGOT DE LAVAL
Feb 21, 2008	Whlsl Ferrs Nonferrs Metal
Feb 19, 2008	Telephone Resellers
Jan 18, 2008	Business Services
Jan 07, 2008	RYDER TRANSPORT SYS
Nov 30, 2007	Business Services
Nov 29, 2007	Business Services
Nov 26, 2007	BQE NATIONALE DU CDA
Nov 20, 2007	BQUE DE DEV DU CDN
Oct 30, 2007	Services-Employment
Sep 17, 2007	NEXIENT
Jul 17, 2007	Business Services
Jul 11, 2007	Transportation Serv
May 01, 2007	NATL LEASING GROUP
May 01, 2007	NATL LEASING GROUP
Feb 22, 2007	Mfr-Elctrnc Compnent
Feb 09, 2007	SERV.FIN.CHRYSLER
Jan 19, 2007	CGI PAYROLL SERVICES
Jan 19, 2007	CGI PAYROLL SERVICES
Dec 08, 2006	CHAUFFAGE P GOSSELIN
Dec 06, 2006	THE BRAND FELT LTD
Oct 30, 2006	FINANCIALINX
Oct 17, 2006	Mfr-Elctrnc Compnent
Sep 28, 2006	Mfr-Elctrnc Compnent
Sep 12, 2006	Mfr-Elctrnc Compnent
Aug 11, 2006	Services-Employment
Aug 04, 2006	CAISSE DESJ STE FOY
Jul 26, 2006	Wholesale-Elec Equip
Jul 10, 2006	DE LAGE LANDEN FIN
Jul 06, 2006	Business Services
Jun 21, 2006	Mfr-Engine
May 12, 2006	ROGERS COMMUNICATION
Apr 25, 2006	Whlsl-Electronic Pts

Composite Index Calculation

Composite Index Factor Table

The Composite Index for THIS BUSINESS was determined based on the following:
	SCORE
1. Active in credit database for 18 years	0
2. Current Payment Index is 4	0
3. Number of supplier references on file is 14	0
4. On Mar 31, 2008 the Payment Index was 0 points higher than Mar 31, 2007	0
5. Number of derogatory items on file in the past 2 years is 0	0
6. The most recent derogatory item was recorded 0 months ago	0
7. Derogatory item amounts as a % of dollars owed suppliers is 0%	0

TOTAL Current Composite Index ->	0

Composite Index Risk Indicators

Composite Index	Risk Indicator	Composite Index	Risk Indicator
0-9	Lowest risk	31-40	High risk
10-20	Average risk	41-69	Highest risk
21-30	Above average risk	70	Bankruptcy reported

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