MIRA INFORM REPORT

 

 

Report Date :

02.02.2008

 

IDENTIFICATION DETAILS

 

Name :

DEV DIAMONDS INC

 

 

Registered Office :

608 South Hill St. Suite 1306 Los Angeles CA 90014

 

 

Country :

United States

 

 

Date of Incorporation :

04.08.2006

 

 

Com. Reg. No.:

C2900933

 

 

Legal Form :

Corporation - Private

 

 

Line of Business :

Wholesaler of Loose Diamonds.

 

 

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 :

Usually Correct

 

 

Litigation :

Clear

 

 

 

IDENTIFICATION & EXECUTIVE SUMMARY

 

 

                                             Company Name:   DEV DIAMONDS INC

                                             Trade Name:        

                                             Address:                                                  608 SOUTH HILL ST. SUITE 1306          

                                             City:                                                        LOS ANGELES                   

Founded (D/M/Y):                   2006                                                       

                                             State/Province:                                         CA                                     

In K USD as of :                      31/12/2007                                              

                                             Zip Code:                                                 90014                                 

Sales / Revenue:                     1,500                                                      

                                             Country:                                                   UNITED STATES                 

Net Income:                            -                                                             

                                             Telephone:                                               213-445-6686                      

Total Equity:                           -                                                             

                                             Facsimile:                                                213-327-0787                      

Number of Employees:            1                                                            

                                             URL                                                                                                                    N/A      

                                             Legal Form:                                                                                         Corporation - Private                                                                                                                                                      

                                             Shareholder:                                             Mr. Rajesh Patel                                   

Business Activity:                  The Company is a wholesaler of loose diamonds.    

 

 

 

NOTE TO CLIENT

 

 

LEGAL NAME: DEV DIAMONDS INC

ORDERED NAME: DEU DIAMOND INC.

PLEASE NOTE THAT THE ORDERED NAME WAS MISSPELLED

  

Person Contacted: Mr. Rajesh Patel, President and Owner. He verified and updated the information presented to him.

 

 

LEGAL

 

 

Legal Form:                                     Corporation - Private

Incorporation State                           CA

Status:                                           ACTIVE

Since (D/M/Y):                                04/08/2006

 

The company is NOT required to publish an annual financial report.

 

The Company incorporated in California under the following registration.                                                         

 

DEV DIAMONDS INC                                                      

Number: C2900933

Date Filed: 8/4/2006                                                  

Status: active                                                        

Jurisdiction: California                                              

Address:                                                              

608 S HILL ST SUITE 306

LOS ANGELES, CA 90014                                                 

Agent for Service of Process                                          

RAJESH PATEL                                                          

608 S HILL ST SUITE 306                                               

LOS ANGELES, CA 90014

 

 

 

MANAGERS / KEY PERSONNEL

 

 

Mr. Rajesh Patel                              President

 

 

Owners

 

 

Mr. Rajesh Patel            100.00              Majority

 

 

SUBSIDIARIES

 

 

 

 

The Company has no subsidiaries or affiliates.

 

BANKS

 

 

Washington Mutual                                                       

 

City:                                            Los Angeles               

State/Province:                             CA                            

Country:                                      UNITED STATES        

Telephone:                                   800 788-7000             

 

A fax was sent to the Company for a signed authorization for credit information.                    

 

 

PAYMENT HISTORY

 

No payment record was found for the Subject at this time.

   

 

 

FINANCIAL INFORMATION

 

 

 

Fiscal Year End :

 

In K

USD

 

 

 

 

 

 

Year-End (D/M/Y)

31/12/2007

 

 

 

Income Statement

Consolidated

 

 

 

 

Global Net Sales

1,500

 

 

 

 

 

 

FINANCIAL INDICATORS

 

Mr. Patel stated that net sales for 2007 were approximately US$1.5 Million, however, full financial statement information is not available at this time.

 

 

HISTORY

 

 

Mr. Rajesh Patel formed the Company in 2006 in California. Mr. Patel has 17 years in the diamond industry and was previously a co-owner in Brilliant Diamonds Inc. before leaving that company and forming the Subject Company.

 

 

 

CURRENT OPERATIONS

 

 

SIC Code:              5094

NAICS Code:         42194                                                                                                                                 

                             Jewelry, Watch, Precious Stone and Precious Metal Wholesalers                                            

Number of Employees:   1

Business Activity:

 

The Company is a wholesaler of loose diamonds.

 

The Subject imports primarily from India.

 

The heading address is the sole location for the Subject. The facility consists of leased office space.

 

 

 

TRADE REFERENCES

 

 

SPARKLE GEMS INC.                                                  

 

Address:

Chicago, IL

 

Amount Outstanding:

-

 

Telephone:

312-782-8995

 

Amount Past Due:

-

 

Facsimile:

312-782-8996

 

High Credit Utilized:

-

 

Contact:

 

 

Terms:

 

 

Credit Limit:

-

 

Days to Pay:

 

 

 

A fax was sent to this company for credit information.

 

 

H & A MOUNTINGS

 

 

Address:

Los Angeles, CA

 

Amount Outstanding:

-

 

Telephone:

213-627-7187

 

Amount Past Due:

-

 

Facsimile:

213-627-7091

 

High Credit Utilized:

-

 

Contact:

 

 

Terms:

 

 

Credit Limit:

-

 

Days to Pay:

 

 

 

A fax was sent to this company for credit information.

 

 

BRILLIANT DIAMONDS

 

 

Address:

Los Angeles, CA

 

Amount Outstanding:

-

 

Telephone:

213-623-7701

 

Amount Past Due:

-

 

Facsimile:

213-623-2613

 

High Credit Utilized:

-

 

Contact:

 

 

Terms:

 

 

Credit Limit:

-

 

Days to Pay:

 

 

 

A fax was sent to this company for credit information.

 

 

EMPEROR DIAMONDS

 

 

Address:

Los Angeles, CA

 

Amount Outstanding:

-

 

Telephone:

213-489-4598

 

Amount Past Due:

-

 

Facsimile:

213-688-7997

 

High Credit Utilized:

-

 

Contact:

 

 

Terms:

 

 

Credit Limit:

-

 

Days to Pay:

 

 

 

A fax was sent to this company for credit information.

 

 

PUBLIC RECORD

 

 

 

A search of public  revealed no derogatory information, bankruptcy  petitions or Uniform Commercial Cods.

 

 

COMMENTS

 

 

The Subject, founded in 2006 in California, is engaged as a wholesaler of loose diamonds.  No payment record was found for the Subject; however, the operating history is clear.  No derogatory information or bankruptcy petitios were reported or noted.  The Company is responsible for normal business transactions.

 

 

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