MIRA INFORM REPORT

 

 

Report Date :

25.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

NORMAC INC

 

 

Registered Office :

10 Loop Rd Arden, NC 28704-8401

 

 

Country :

United States

 

 

Date of Incorporation :

08.28.1973

 

 

Com. Reg. No.:

729788110

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Machine Tools, Metal Cutting Type

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Slow by 14 days

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

Company Information

 

 

NORMAC INC
10 LOOP RD
ARDEN, NC 28704-8401
(828) 209-9000

Business Identification Number:

729788110

File Established:

03/1983

Date of Incorporation:

08/28/1973

SIC code: 

MACHINE TOOLS, METAL CUTTING TYPE - 3541

 

Matching Name and Address

 

 

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

NORMAC
P. O. BOX 69
ARDEN, NC 28704-0069

 

Executive Summary

 

 

  Intelliscore for NORMAC INC

 

 

75.20

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


LOW TO MEDIUM RISK
80% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

HISTORY OF SLOW PAYING ACCOUNTS

RATIO OF BALANCE ON SLOW PAYING ACCOUNTS TO ALL BALANCES

NUMBER OF TRADES WITH A HIGH BALANCE TO HIGH CREDIT RATIO

SMALL, IF ANY, RATIO OF REGULAR TRADES TO TOTAL TRADES



  Current DBT range compared to all industries*

14 DBT
($3,700 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 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 08/05)

1

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

8

Highest DBT previous 6 months:

14

Highest DBT previous 5 quarters:

14

Total continuous trades:

11

Current continuous trade balance:

$3,700

Trade balance of all trades (19):

$5,700

Average balance previous 5 quarters:

$1,160

Highest credit amount extended: details

$2,800

6 month balance range:

$1,100 - $3,700

* 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

 


12

 


8

 


3

 


1

 


14

 


13

 


14

 

0

Oct07

Nov07

Dec07

Jan08

Feb08

Mar08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


10

 


13

 


3

 


7

 


4

 

0

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

1Q08

 


Performance Analysis

 

Predicted DBT for 06/18/2008: 14 DBT

Payment Trend Indication:
Payments Are Increasingly Late

Industry payment comparison:
Has paid slower 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

 

$200

$0

 

 

 

 

 

CUST 19 YR

 COMPUTERS

04/2008

 

 

 

$100

$0

 

 

 

 

 

CUST 10 YR

 COMPUTERS

04/2008

07/2005

CREDIT

 

 

$0

 

 

 

 

 

 

 ELEC SUPLR

03/2008

06/2006

 

 

 

$0

 

 

 

 

 

 

 FREIGHT

04/2008

05/2007

VARIED

 

$300

$0

 

 

 

 

 

 

=MED EQUIP

02/2008

 

NET 30

 

$2,800

$2,800

 

100%

 

 

 

 

=OFFC SUPPL

04/2008

03/2008

NET 30

 

$700

$300

9%

91%

 

 

 

CUST 21 YR

=PACKAGING

04/2008

 

NET 30

 

$2,200

$600

28%

72%

 

 

 

CUST 22 YR

 SAFTY PROD

03/2008

 

NET30

 

$600

$0

 

 

 

 

 

CUST 2 YR

 TRANSPORTN

04/2008

 

NET 30

 

 

$0

 

 

 

 

 

PROMPT

 TRUCK DLR

03/2008

 

CONTRCT

 

 

$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

11

 

 

$6,900

$3,700

5%

95%

 

 

 

DBT: 14

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

11

 

 

$6,900

$3,700

5%

95%

 

 

 

DBT: 14

 

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

 ADMIN

05/2005

 

CREDIT

 

 

$0

 

 

 

 

 

CUST 37 YR

 AIR TRANS

08/2005

08/2005

 

 

$100

$0

 

 

 

 

 

 

+COMMUN SVC

09/2005

 

NET 30

 

$1,400

$1,300

100%

 

 

 

 

CUST 3 YR

 ELEC SUPLR

04/2005

 

VARIED

 

 

$0

 

 

 

 

 

 

+FRGHT FWRD

07/2005

 

NET 30

 

$400

$400

100%

 

 

 

 

 

+FRGHT FWRD

10/2006

10/2006

NET 15

 

$200

$200

100%

 

 

 

 

SATSFTRY

 LEASING

08/2005

 

CONTRCT

 

$1,200

$0

 

 

 

 

 

 

+OFFC EQUIP

06/2006

06/2006

NET 30

 

$10,100

<$100

 

100%

 

 

 

CUST 8 YR

 

Monthly Payment Trends

 

 

Payment Trends Analysis
MACHINE TOOLS, METAL CUTTING TYPE INDUSTRY SIC: 3541

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

14

$3,700

 

5%

95%

 

 

 

MAR08

84%

6

13

$3,400

 

13%

87%

 

 

 

FEB08

85%

6

14

$3,100

 

4%

96%

 

 

 

JAN08

85%

6

1

$3,600

 

96%

4%

 

 

 

DEC07

84%

5

3

$2,100

 

82%

18%

 

 

 

NOV07

85%

5

8

$1,100

 

49%

51%

 

 

 

OCT07

86%

5

12

$1,900

 

22%

78%

 

 

 

 

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

4

$600

 

72%

28%

 

 

 

Q4 - 07

OCT-DEC

7

$1,700

 

53%

47%

 

 

 

Q3 - 07

JUL-SEP

3

$1,100

 

83%

17%

 

 

 

Q2 - 07

APR-JUN

13

$1,800

 

41%

51%

2%

6%

 

Q1 - 07

JAN-MAR

10

$600

 

34%

66%

 

 

 

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

1

 

 

 

Total

 

1

1

 

 

 

 

** 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.

 

Back to top

 

  UCC Filings

 

UCC FILED Date: 08/22/2005

Filing Number: 20050079857E

Jurisdiction: SEC OF STATE N CAROL

Secured Party: CAROLINA FIRST BANK NC SHELBY 28150 110 WEST MARION STREET

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

 

 

 

 

 

 

 

Commercial Finance Relationships

 

 

  Leasing Relationships

 

Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 10/2003

Original Lease Amount: $11,054

Lease Product Type: OFFICE EQUP

Lease Term: 60 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $184

Amount of Overdue Payments: $0

Remaining Balance: $1,289

Late Payments: 0


Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 10/2003

Original Lease Amount: $11,054

Lease Product Type: OFFICE EQUP

Lease Term: 60 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $184

Amount of Overdue Payments: $0

Remaining Balance: $1,842

Late Payments: 0

 

Company Background Information

 

 

  Corporate Registration

 

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF NORTH CAROLINA

State of Origin: NC

Date of Incorporation: 08/28/1973

Current Status: Inactive


Business Type: Institutions - Profit

Charter Number: 0104215

 

Back to top

 

 

 

 

 

 

 

 

  Additional Company Background Information

 

 

Key Personnel

Principal(s): 

EMMANUEL GAUZER, VICE PRESI

 

MARK KUSHIGIAN, PRESIDENT

 

SAM PRUCHNO, MANAGER


Operating Information

Business Type: Institutions


Primary SIC Code: MACHINE TOOLS, METAL CUTTING TYPE - 3541

Secondary SIC Code: INDUSTRIAL MACHINERY AND EQUIPMEN - 5084

Additional SIC Code: 7699


Number of Employees: 45

Sales: $8,000,000

 

 

 

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