MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
REDLINE COMMUNICATIONS INC. |
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Registered Office : |
302 Town Center
Boulevard, Suite 100, Markham, ON L3R 0E8 |
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Country : |
Canada |
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Date of Incorporation : |
16.04.1999 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures Modems |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 470,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
470,000 USD |
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 |
100 USD = 100.32 CAD Satisfying |
IDENTIFICATION
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Company Name: |
Redline Communications Inc. |
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Address: |
302 Town Center Boulevard, Suite 100, Markham, ON L3R 0E8, Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (905) 479-8344 + 1 (905) 479-5331 ON-0001350605 Ontario Majed Sifri, President. |
Date founded: |
April 16, 1999
Corporation for Profit N.A. 250 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufactures modems |
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BANKS
Royal Bank
BUSINESS
Operations & Business:
Redline Communications is a manufacturer of network multiplexing
equipment used to build wireless data networks.
The company's products are designed to enable the wireless transmission
of voice and data. Redline targets such customers as ISPs, schools, hospitals,
and small communications service providers.
Redline markets its products under the RedMAX and RedCONNEX brand names.
With projects in more than 75 countries, the company's clients include Ontario's
Keewatin-Patricia School District and UK-based wireless communications service
providers Nomad Digital and Telabria.
Industry Overview:
The industry depends on purchases from businesses, telephone companies,
cable companies, data communications providers, and TV and radio broadcasters.
Profitability for individual companies is linked to technical innovation and
the ability to secure high-volume contracts from large customers. Small
companies can be successful if they make highly specialized products.
There are large economies of scale in manufacturing standard products,
but many products are specialized and produced in small manufacturing plants.
Annual revenue per employee in a large plant varies from $500,000 to $1
million.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
directors of the company are:
Majed
Sifri, President and chief executive officer,
Philippe de Gaspé-Beaubien III, Chairman,
Thomas
Hearne, chief financial officer.
They
are also three of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Redline Communications Inc. 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 |
23,200,000 |
LEGALS
0 Suits
0 Judgements
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 PPSA Filing in 2007 by VW
Credit Canada Inc securing Equipment.
Amount:$39,425
3 PPSA Filings in 2007 by National
Leasing Group securing Equipment. Amount: NA
All previous PPSA Filings
have been cleared
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.
Payments are made on a
regular basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a medium company
working worldwide.
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 above Regular |
ADVISED
CREDIT
470,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.71 |
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UK Pound |
1 |
Rs.85.11 |
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Euro |
1 |
Rs.67.73 |
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%)