MIRA INFORM REPORT

 

 

Report Date :

31.05.2008

 

IDENTIFICATION DETAILS

 

Name :

STAR RAYS NY INC

 

 

Registered Office :

71 W 47th St Ste 1301, New York, NY 10036-2819

 

 

Country :

United States

 

 

Date of Incorporation :

05/2001

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Jewelry Stores

 

 

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 :

Regular

 

 

Litigation :

Clear 

 

 

 

Company Information

 

 

STAR RAYS NY INC
71 W 47TH ST STE 1301
NEW YORK, NY 10036-2819
(212) 398-5120

Business Identification Number:

703647657

File Established:

05/2001

SIC code: 

JEWELRY STORES - 5944

 

Executive Summary

 

 

  Intelliscore for STAR RAYS NY INC

 

 

68.27

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


MEDIUM RISK
59% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF OTHER TRADES

NUMBER OF ACTIVE ACCOUNTS

NUMBER OF TRADES WITH A HIGH BALANCE TO HIGH CREDIT RATIO

NUMBER OF CURRENT ACCOUNTS



  Current DBT range compared to all industries*

0 DBT
($201,200 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 8 DBT

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings: details (FILED 02/02)

1

Total collections:

0

Sum of legal filings:

$1,421

UCC filings:

0

Cautionary UCC filings present?

No



Trade Information

Monthly average DBT:

0

Highest DBT previous 6 months:

0

Highest DBT previous 5 quarters:

0

Total continuous trades:

2

Current continuous trade balance:

$201,200

Trade balance of all trades (6):

$201,300

Average balance previous 5 quarters:

$85,700

Highest credit amount extended: details

$246,600

6 month balance range:

$0 - $245,600

* 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.

 

 

  7 month DBT trends

 

90+

60

30

 


0

 


0

 


0

 


0

 


0

 


0

 


0

 

0

Jun07

Jul07

Aug07

Sep07

Oct07

Nov07

Current

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


0

 


0

 


0

 


0

 


0

 

0

 

3Q06

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

 

Performance Analysis

Predicted DBT for 02/13/2008: 1 DBT

Payment Trend Indication:
Are Stable

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

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

 

 

 

 

Legal Filings and Collections

 

 

  Judgments

File
Date

Filing
Type

Status

Amount

Plaintiff

Filing
Number

Jurisdiction

05/01/2002

Judgment

Satisfied

$1,421

 

FERRARI EXPRESS INC

3979901

NEW YORK CITY CVL CT

02/26/2002

Judgment

Filed

$1,421

 

FERRARI EXPRESS INC

3979901

NEW YORK CITY CVL CT

 

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

+BANK

10/2007

10/2007

VARIOUS

 

$246,600

$201,200

100%

 

 

 

 

CUST 3 YR

 OFFC SUPPL

11/2007

06/2007

CREDIT

 

$200

$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

2

 

 

$246,800

$201,200

100%

 

 

 

 

DBT: 0

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

2

 

 

$246,800

$201,200

100%

 

 

 

 

DBT: 0

 

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

 AIR TRANS

11/2006

 

NET 30

 

 

$0

 

 

 

 

 

CUST 1 YR

+CRED CARD

11/2007

11/2007

CREDIT

 

<$100

<$100

100%

 

 

 

 

SATSFTRY

 LEASING

04/2007

 

CONTRCT

 

$1,600

$0

 

 

 

 

 

CUST 1 YR

 MANUFCTRNG

10/2006

 

CERTCHK

 

 

$0

 

 

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
JEWELRY STORES INDUSTRY SIC: 5944

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

0

$201,200

 

100%

 

 

 

 

NOV07

81%

8

0

$201,200

 

100%

 

 

 

 

OCT07

81%

7

0

$201,200

 

100%

 

 

 

 

SEP07

81%

7

0

$201,700

 

100%

 

 

 

 

AUG07

82%

7

0

$245,600

 

100%

 

 

 

 

JUL07

84%

6

0

$100,000

 

100%

 

 

 

 

JUN07

84%

6

0

$0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarterly Payment Trends

 

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q3 - 07

JUL-SEP

0

$182,400

 

100%

 

 

 

 

Q2 - 07

APR-JUN

0

$0

 

 

 

 

 

 

Q1 - 07

JAN-MAR

0

$246,100

 

100%

 

 

 

 

Q4 - 06

OCT-DEC

0

$0

 

 

 

 

 

 

Q3 - 06

JUL-SEP

0

$0

 

 

 

 

 

 

 

Inquiries

 

 

  Summary of Inquiries

Business
Category

DEC07

NOV07

OCT07

SEP07

AUG07

JUL07

JUN07

MAY07

APR07

BUREAU

 

 

 

 

 

 

1

 

 

TELECOM

1

 

 

 

 

 

 

 

 

Totals

1

 

 

 

 

 

1

 

 

 

Commercial Finance Relationships

 

 

  Banking Relationships

 

Financial Institution: CHASE BANK

Address: 200 JERICHO QUADRANGLE JERICHO NY11753

Phone: (516) 828-2339

Account Type: LINE OF CREDIT

Date Opened: 06/16/2005

Account Rating: NO COMMENT AS OF 03/02/2006

Account Balance: MID FIVE FIGURES

 

Company Background Information

 

 

  Additional Company Background Information

 

Key Personnel

Principal(s): 

KIRAN VAGHASHIYA, PRESIDENT


Operating Information

Primary SIC Code: JEWELRY STORES - 5944

Secondary SIC Code: JEWELRY & PRECIOUS STONES WHLSNG - 5094


Number of Employees: 5

Sales: $550,000

 

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