MIRA INFORM REPORT

 

 

Report Date :

22.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

NOVATEC INC

 

 

Registered Office :

222 Thomas Ave Baltimore, MD 21225-3327

 

 

Country :

United States

 

 

Date of Incorporation :

01/1985

 

 

Com. Reg. No.:

714123047

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Special Industry Machinery

 

 

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 5 days

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

Company Information

 

 

NOVATEC INC
222 THOMAS AVE
BALTIMORE, MD 21225-3327
(410) 789-4811

Business Identification Number:

714123047

File Established:

01/1985

SIC code: 

SPECIAL INDUSTRY MACHINERY, NEC - 3559

Tax ID:

52-0815915

 

Executive Summary

 

 

  Intelliscore for NOVATEC INC

 

 

60.81

 

 

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
43% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF ACTIVE ACCOUNTS

BALANCE ON DELINQUENT ACCOUNTS

NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS

RECENTLY DELINQUENT OR DEROGATORY AVG ACCOUNT BALANCES



  Current DBT range compared to all industries*

5 DBT
($29,500 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 5 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 02/98-07/06)

3

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

2

Highest DBT previous 6 months:

5

Highest DBT previous 5 quarters:

8

Total continuous trades:

17

Current continuous trade balance:

$29,500

Trade balance of all trades (30):

$52,100

Average balance previous 5 quarters:

$44,320

Highest credit amount extended: details

$48,000

6 month balance range:

$29,500 - $74,300

* 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

 


3

 


4

 


2

 


2

 


2

 


2

 


5

 

0

Oct07

Nov07

Dec07

Jan08

Feb08

Mar08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


1

 


6

 


8

 


5

 


3

 

0

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

1Q08

 

 

Performance Analysis

 

Predicted DBT for 06/18/2008: 5 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

 

Back to top

 

 

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

03/2008

 

NET 30

 

$1,300

$0

 

 

 

 

 

CUST 23 YR

+BLDG MATRL

01/2008

01/2008

VARIED

 

$3,700

$400

100%

 

 

 

 

 

 BUS SERVCS

04/2008

 

NET 7

 

$1,900

$0

 

 

 

 

 

 

+CHEMICALS

04/2008

 

NET 30

 

$300

$300

100%

 

 

 

 

 

 CHEMICALS

04/2008

 

NET 30

 

<$100

$0

 

 

 

 

 

 

 COMPUTERS

04/2008

06/2004

CREDIT

 

 

$0

 

 

 

 

 

 

 ELEC EQUIP

03/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 11 YR

 ELEC EQUIP

03/2008

09/2007

CREDIT

 

$100

$0

 

 

 

 

 

CUST 1 YR

+FINCL SVCS

04/2008

03/2008

NET 30

 

$48,000

$23,600

100%

 

 

 

 

SATSFTRY

 FINCL SVCS

04/2008

 

NET

 

 

$0

 

 

 

 

 

 

=FREIGHT

04/2008

03/2008

VARIED

 

$26,100

$2,000

43%

36%

16%

5%

 

 

-INDUS SUPL

03/2008

01/2008

NET 30

 

$18,100

$1,000

1%

27%

1%

71%

 

CUST 4 YR

 MACH DISTR

03/2008

 

VARIED

 

 

$0

 

 

 

 

 

 

 OFFC SUPPL

04/2008

03/2006

CREDIT

 

 

$0

 

 

 

 

 

 

-PACKAGING

04/2008

 

NET 30

 

$4,600

$1,700

 

100%

 

 

 

CUST 20 YR

-PLUMBING

03/2008

02/2008

NET 10

 

$6,300

$500

2%

35%

63%

 

 

 

 TRUCK DLR

04/2008

 

CONTRCT

 

$900

$0

 

 

 

 

 

 

 

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

17

 

 

$111,400

$29,500

85%

10%

2%

3%

 

DBT: 5

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

17

 

 

$111,400

$29,500

85%

10%

2%

3%

 

DBT: 5

 

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

06/2006

05/2006

 

 

$800

$800

100%

 

 

 

 

CUST 28 YR

=AUTO LEASE

03/2008

03/2008

VARIED

 

$33,800

$15,000

100%

 

 

 

 

SATSFTRY

-AUTOMOTIVE

09/2006

06/2006

NET 30

 

$1,600

$1,600

12%

88%

 

 

 

 

 BUS SERVCS

05/2007

05/2007

NET 30

 

 

$0

 

 

 

 

 

 

=COMPUTERS

05/2006

04/2006

 

 

$8,000

$2,400

 

87%

13%

 

 

 

 CONST MACH

09/2006

 

NET 30

 

 

$0

 

 

 

 

 

CUST 6 YR

 ELEC SUPLR

04/2005

 

VARIED

 

 

$0

 

 

 

 

 

 

-FRGHT FWRD

01/2006

 

NET 15

 

$1,400

<$100

 

 

 

 

100%

 

 INDUS SUPL

05/2005

 

NET 30

 

 

$0

 

 

 

 

 

CUST 8 YR

+LEASING

02/2008

 

CONTRCT

 

$2,700

$2,700

100%

 

 

 

 

 

 LEASING

06/2007

 

CONTRCT

 

$4,600

$0

 

 

 

 

 

 

 OFFC SUPPL

04/2007

02/2007

NET

 

$2,400

$0

 

 

 

 

 

CUST 3 YR

 PETROLEUM

03/2007

11/2001

VARIED

 

 

$0

 

 

 

 

 

ACCTCLOSED

 

 

 

 

 

 

 

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
SPECIAL INDUSTRY MACHINERY, NEC INDUSTRY SIC: 3559

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

5

$29,500

 

85%

10%

2%

3%

 

MAR08

86%

5

2

$65,200

 

95%

3%

1%

1%

 

FEB08

85%

5

2

$68,100

 

93%

6%

 

1%

 

JAN08

83%

5

2

$71,400

 

96%

1%

2%

1%

 

DEC07

76%

15

2

$71,500

 

93%

6%

 

1%

 

NOV07

76%

15

4

$74,300

 

92%

3%

3%

1%

1%

OCT07

85%

5

3

$74,000

 

94%

2%

2%

1%

1%

 

Quarterly Payment Trends

 

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q1 - 08

JAN-MAR

3

$43,200

 

91%

5%

2%

2%

 

Q4 - 07

OCT-DEC

5

$41,700

 

88%

6%

3%

2%

1%

Q3 - 07

JUL-SEP

8

$44,200

 

81%

7%

9%

2%

1%

Q2 - 07

APR-JUN

6

$54,600

 

85%

7%

4%

2%

2%

Q1 - 07

JAN-MAR

1

$37,900

 

97%

1%

2%

 

 

 

Inquiries

 

 

  Summary of Inquiries

Business
Category

APR08

MAR08

FEB08

JAN08

DEC07

NOV07

OCT07

SEP07

AUG07

ELEC EQUIP

 

 

 

 

 

 

1

 

 

INSURANCE

 

 

1

 

 

 

 

 

 

LEASING

 

 

 

 

 

 

1

 

 

TRANSPORTN

 

 

1

 

 

 

 

 

 

Totals

 

 

2

 

 

 

2

 

 

 

 

 

 

 

 

 

 

 

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

 

1

 

 

 

JAN - JUN

 

2006

 

 

 

 

 

PRIOR TO JAN

 

2006

1

2

 

 

 

Total

 

1

3

 

 

 

 

** 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: 07/10/2006

Filing Number: 1000361993396823

Jurisdiction: SEC OF STATE MARYLAN

Secured Party: MERCANTILE-SAFE DEPOSIT & TRUST COMPANY MD BALTIMORE 21201 T

Collateral: UNDEFINED


UCC FILED Date: 11/08/2004

Filing Number: 1000361990552378

Jurisdiction: SEC OF STATE MARYLAN

Secured Party: MERCANTILE-SAFE DEPOSIT AND TRUST COMPAN MD BALTIMORE 21201

Collateral: INVENTORY, UNDEFINED


UCC FILED Date: 02/17/1998

Filing Number: 180488069

Jurisdiction: SEC OF STATE MARYLAN

Secured Party: MERCANTILE-SAFE DEPOSIT AND TRUST COMPAN MD BALTIMORE 21201

Collateral: EQUIP

 

Company Background Information

 

 

  Corporate Registration

 

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF FLORIDA

State of Origin: FL

Current Status: Active


Business Type: Institutions - Profit

Federal Tax ID: 52-0815915


Agent: GORMAN CHARLES

Agent Address: 321 HAZELNUT ST WINTER SPGS, FL

 

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  Additional Company Background Information

 

Key Personnel

Principal(s): 

LAWRENCE DEBAUGH, PRESIDENT

 

JOHN DOUB, EXECUTIVE

 

MIKE CONRON


Operating Information

Business Type: Institutions


Primary SIC Code: SPECIAL INDUSTRY MACHINERY, NEC - 3559

Secondary SIC Code: CONVEYORS & CONVEYING EQUIPMENT - 3535

Additional SIC Code: 3582 - 3444


Number of Employees: 120

Sales: $25,000,000

 

 

 

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