MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CALIFORNIA WIRE CLOTH, INC |
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Registered Office : |
8300 West Elowin Court, Visalia, CA 93291 |
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Country : |
United States |
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Date of Incorporation : |
27.12.1984 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures Fabricated
Wire Products |
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 270,000 |
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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 |
270,000 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 |
USD Satisfying |
IDENTIFICATION
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Company Name: |
CALIFORNIA WIRE
CLOTH, INC. Dba
Diamondback Casting; Wasatch Wire; Texas Wire. |
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Address: |
8300 West Elowin
Court, Visalia, CA
93291, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (559) 651-3737 NA C1264751 California Thomas C. Lentsch, President |
Date founded: |
Dec 27, 1984
Corporation for Profit 65 employees |
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Legal form: |
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Staff: |
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Business: |
Manufactures fabricated wire products |
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BANKS
Bank of America
Bank of Visalia
BUSINESS
Business & Operations:
California wire cloth, inc. also does business as Diamondback Casting; Wasatch Wire; Texas Wire.
The company manufactures:
-Wire and wire products
Rope
-Chain and cable and wire and
strap,
-Straps,
-Security wire,
-Mechanical cable and
mechanical wire.
Industry Overview:
Of the several distinct fields within the technology sector, most are
based on computer technology. Even the fields of biotechnology and aerospace
rely heavily on computers. Companies in the technology sector take advantage of
scientific discoveries that have been made in the last few decades, turning
them into marketable products. The hallmark of technology companies is that the
inner workings of their products are basically incomprehensible to the average
person (many people understand how a car engine works, but few understand how a
telephone works, or what DNA is).
The key scientific discoveries that underlie many of today's technology
companies were made about 50 years ago - the transistor, the laser, the
computer, the integrated circuit, and the structure of DNA. The technology
sector of the US economy was built through large financial investments
committed to developing these discoveries once they were sufficiently well
understood to promise practical products. Newer scientific discoveries like
nanotechnology, superconductivity, and carbon nano-tubes haven't yet received
similar levels of investment because the pathways to practical applications are
not yet clear.
Tech companies are driven by continuing advances in knowledge, which
produce a stream of improved products. The product cycle at technology
companies is often short: a new version of their products is often being
developed. In addition to developing their own technology, many companies
acquire it from other companies, either through licenses or by buying entire
companies. The reverse is also common: managers at large companies frequently
form new companies to develop a particular technology that their employer isn't
interested in. A strong link between industry and academic research
institutions exists, including a flow of personnel between them. Although
technology products eventually end up in consumer or business products, most
technology sales are to other technology companies.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Thomas C. Lentsch, President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
California Wire Cloth 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 |
8,100,000 |
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Operating Profit |
117,000 |
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Net Income |
98,000 |
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Net Worth |
120,000 |
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Liabilities |
0 |
LEGAL
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
2 UCC Filings in 2007 by
Bank of Visalia securing Accounts & Proceeds. Amount: NA
2 UCC Filings in 2006 by
Bank of America securing All Assets.
Amount: NA
1 UCC Filing on 2006 by
Alliance Bank securing Instruments, Amount: NA
All previous UCC Filings
have been Cleared
RATING
Local credit bureau gave a good 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 35
days basis (monitored during the past 12 months).
The cash is good.
Our final opinion:
This is a medium 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 |
Medium Controlled Good |
PUBLIC PAYMENTS |
See above Regular |
ADVISED
CREDIT
270,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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%)