MIRA
INFORM REPORT
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Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE DIAMOND CONNECTION CORPORATION |
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Registered Office : |
36 NE 1ST. Street, Suite 515, Miami, FL 33132 |
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Country : |
United States |
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Date of Incorporation : |
11.30.1992 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Jewellery |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
THE DIAMOND CONNECTION CORPORATION |
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Address: |
36 NE 1ST.
Street, Suite 515 Miami, FL 33132 |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (305) 377-8884 No Listing P92000007649 Federal Avinash K. Thakor,
President |
Date founded: |
11/30/1992
Corporation for Profit N.A. 3 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Wholesales jewellery |
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BANKS
BARNETT BANK
BUSINESS
Business & Operations:
The Diamond Connection Corporation is a private
company located in Miami, Florida. The company’s main line of business is
wholesaler of jewellery and precious stones.
The Diamond Connection Corporation offers:
-Jewelry,
-Watches,
-Precious stones,
-Precious metals.
Industry Overview:
The US jewelry industry generates annual revenues of about $25 billion
from 30,000 specialty stores. Large companies include Zale, Tiffany, and
Sterling Jewelers. The industry is fragmented: the top 50 jewelry chains hold
less than half of the market.
Jewelry sales depend partly on consumer income. Small jewelers can
effectively compete with large chains because price isn't the main factor
determining sales. Profitability depends on merchandising and effective marketing.
Average industry revenue per worker is about $160,000.
Jewelry is also sold in department and discount stores, and by mass
merchants. Because regular gross margins are very high, often 50 percent, mass
merchants have been able to cut prices and take market share. Wal-Mart is the
largest jewelry retailer in the US.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Avinash K. Thakor,
President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
The Diamond Connection Corporation does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
380,000 |
LEGALS
0 Suits
0 Judgments
1 Liens filed for State Tax
in 2005 by State of Florida
0 Collection Claims
Reported
0 NSF Cheques Reported
0 UCC Security Filings
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
The last annual report was filed on February 1st, 2008.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion:
This is a small company working in the US.
A credit line may be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See Details Above Regular |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.12 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.67.41 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)