MIRA INFORM REPORT

 

 

Report Date :

09.02.2008

 

IDENTIFICATION DETAILS

 

Name :

FRENCHAROMA IMPORTS CO

 

 

Registered Office :

339 14th St  Carlstadt, NJ 07072-1911

 

 

Country :

United States

 

 

Date of Incorporation :

01/1995

 

 

Com. Reg. No.:

701038693

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Flavoring Extracts & Sirups

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow by 11 days

 

 

Litigation :

Clear

 

 

 

Company Information

 

 

FRENCHAROMA IMPORTS CO
339 14TH ST
CARLSTADT, NJ 07072-1911
(201) 460-3636

Business Identification Number:

701038693

 File Established:

01/1995

SIC code: 

FLAVORING EXTRACTS & SIRUPS, NEC - 2087

 

Executive Summary

 

 

  Intelliscore for FRENCHAROMA IMPORTS CO

 

 

16.10

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


HIGH RISK
8% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS

NUMBER OF TRADES WITH A HIGH BALANCE TO HIGH CREDIT RATIO

NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS

NUMBER OF RECENT COLLECTION ACCOUNTS



  Current DBT range compared to all industries*

11 DBT
($7,300 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 4 DBT

 

 

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections: details (PLACED 10/07)

1

Sum of legal filings:

$0

UCC filings: details (FILED 06/04-09/07)

6

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

12

Highest DBT previous 6 months:

19

Highest DBT previous 5 quarters:

36

Total continuous trades:

10

Current continuous trade balance:

$7,300

Trade balance of all trades (13):

$7,600

Average balance previous 5 quarters:

$4,420

Highest credit amount extended: details

$4,600

6 month balance range:

$6,200 - $8,900

* 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.

** 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

 


16

 


12

 


19

 


8

 


8

 


11

 

0

Jul07

Aug07

Sep07

Oct07

Nov07

Dec07

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


0

 


36

 


17

 


13

 


11

 

0

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

 

Performance Analysis

 

Predicted DBT for 04/02/2008: 11 DBT

Payment Trend Indication:
Show No Identifiable Trend

Industry payment comparison:
Has paid slower than 50% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CREDIT, and 0000000

 

 

 

Legal Filings and Collections

 

 

  Collections

Date
Placed

Status

Original
Balance

Outstanding
Balance

Date
Closed

Agency

Agency
Phone

10/2007

Open Account

$712

 

$712

 

 

RECEIVABLE MANAGEMENT SERVICES

(000) 000-0000

 

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

12/2007

11/2007

 

 

$1,100

$1,100

49%

51%

 

 

 

CUST 17 YR

+AIR TRANS

01/2008

 

NET 30

 

$1,400

$1,400

69%

31%

 

 

 

COLLECTION

+BUS SERVCS

11/2007

 

NET 30

 

$100

$100

100%

 

 

 

 

 

=CHEMICALS

01/2008

 

CREDIT

 

$2,500

$100

33%

67%

 

 

 

 

=FINCL SVCS

01/2008

 

NET 30

 

$3,600

$2,400

100%

 

 

 

 

CUST 1 YR

 FREIGHT

01/2008

06/2006

VARIED

 

 

$0

 

 

 

 

 

 

-INDUS SUPL

01/2008

12/2007

NET 30

 

$4,600

$1,500

30%

27%

43%

 

 

CUST 5 YR

 OFFC SUPPL

01/2008

08/2006

CREDIT

 

$100

$0

 

 

 

 

 

ACCTCLOSED

-PACKAGING

01/2008

11/2007

NET 30

 

$1,500

$700

 

27%

73%

 

 

CUST 4 YR

 TRUCK DLR

01/2008

 

CONTRCT

 

$3,700

$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

10

 

 

$18,600

$7,300

61%

23%

16%

 

 

DBT: 11

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

10

 

 

$18,600

$7,300

61%

23%

16%

 

 

DBT: 11

 

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

-GENERAL

02/2005

10/2004

NET 60

 

$300

$300

75%

 

 

 

25%

CUST 7 YR

 OFFC SUPPL

11/2006

08/2006

NET

 

$2,900

$0

 

 

 

 

 

CUST 2 YR

 OFFC SUPPL

05/2005

11/2002

NET 30

 

 

$0

 

 

 

 

 

CUST 3 YR

 

Monthly Payment Trends

 

 

Payment Trends Analysis
FLAVORING EXTRACTS & SIRUPS, NEC INDUSTRY SIC: 2087

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

11

$7,300

 

61%

23%

16%

 

 

DEC07

88%

4

8

$7,000

 

53%

43%

4%

 

 

NOV07

86%

4

8

$6,900

 

79%

10%

5%

6%

 

OCT07

86%

4

19

$6,200

 

57%

11%

21%

11%

 

SEP07

88%

4

12

$6,900

 

60%

21%

18%

1%

 

AUG07

87%

4

16

$8,900

 

59%

10%

30%

1%

 

JUL07

86%

4

12

$6,700

 

51%

36%

12%

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+

Q4 - 07

OCT-DEC

11

$6,700

 

64%

22%

9%

5%

 

Q3 - 07

JUL-SEP

13

$7,500

 

57%

21%

21%

1%

 

Q2 - 07

APR-JUN

17

$4,700

 

52%

32%

1%

15%

 

Q1 - 07

JAN-MAR

36

$2,700

 

17%

31%

27%

25%

 

Q4 - 06

OCT-DEC

0

$500

 

100%

 

 

 

 

 

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

1

1

 

 

 

JAN - JUN

 

2007

 

 

 

 

 

JUL - DEC

 

2006

 

 

 

 

 

JAN - JUN

 

2006

1

1

 

 

 

PRIOR TO JAN

 

2006

2

4

 

 

 

Total

 

4

6

 

 

 

 

** 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: 09/18/2007

Filing Number: 200709185911285

Jurisdiction: SEC OF STATE NEW YOR

Secured Party: NMHG FINANCIAL SERVICES, INC. CT DANBURY 06810 44 OLD RIDGEB

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED


UCC FILED Date: 04/24/2006

Filing Number: 23578555

Jurisdiction: SEC OF STATE NEW JER

Secured Party: THE BANK OF NEW YORK DE NEWARK 19713 502 WHITE CLAY CTR

Collateral: EQUIP, FURN & FIX, INVENTORY, UNDEFINED


UCC FILED Date: 11/15/2005

Filing Number: 23279315

Jurisdiction: SEC OF STATE NEW JER

Secured Party: THE BANK OF NEW YORK DE NEWARK 19713 502 WHITE CLAY CTR

Collateral: EQUIP, FURN & FIX, INVENTORY, UNDEFINED


UCC FILED Date: 03/07/2005

Filing Number: 22861832

Jurisdiction: SEC OF STATE NEW JER

Secured Party: INTERSTATE NET BANK NJ PHILLIPSBURG 08865 1228 RTE 22 EAST

Collateral: REAL PROPERTY, ACCTS REC, EQUIP, FURN & FIX, INVENTORY, UNDEFINED


UCC FILED Date: 08/02/2004

Filing Number: 200408025642055

Jurisdiction: SEC OF STATE NEW YOR

Secured Party: FLEET BUSINESS CREDIT, LLC MI TROY 48007 P.O. BOX 7023

Collateral: UNDEFINED


UCC FILED Date: 06/22/2004

Filing Number: 200406225511513

Jurisdiction: SEC OF STATE NEW YOR

Secured Party: FLEET BUSINESS CREDIT, LLC MI TROY 48007 P.O. BOX 7023

Collateral: EQUIP

 

Company Background Information

 

 

  Additional Company Background Information

 

Key Personnel

Principal(s): 

JOHN MARTINEZ, OWNER

 

RICKY MARTINEZ, VICE PRESI

 

GEORGE SONNESSA


Operating Information

Primary SIC Code: FLAVORING EXTRACTS & SIRUPS, NEC - 2087

Secondary SIC Code: GROCERIES & RELATED PROD, NEC - 5149

Additional SIC Code: 2899 - 5999


Number of Employees: 34

Sales: $700,000

 

 

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