MIRA INFORM REPORT

 

 

 

Report Date :

11.06.2008

 

IDENTIFICATION DETAILS

 

Name :

QUICKMILL INC

 

 

Registered Office :

760 Rye Street Peterborough, ON K9J 6W9

 

 

Country :

Canada

 

 

Date of Incorporation :

12.04.2007

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Manufactures Metal Work Machinery

 

 

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

 

Maximum Credit Limit :

CAD 100,000

 

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

 

REQUIRED CREDIT

 

 

ADVISED CREDIT

 

 

MAX

 

 

100,000 CAD

 

 

GEOPOLITICS

 

 

POLITICAL DATA

 

 

ECONOMIC DATA

FORM OF GOVERNMENT

 

ECONOMIC RISK

Federal

 


None

 

CURRENCY

 

BRANCH SITUATION

 

CAD

 

Satisfying

 

 

IDENTIFICATION

 

Company Name:

 

 

 

Quickmill Inc

 

 

Address:

 

760 Rye Street

Peterborough, ON K9J 6W9

Canada

 

 

Phone:

 

Facsimile:

 

ID:

 

State:

 

Managers:

 

705-745-2961

 

705-745-8130

 

ON-0001731803

 

Ontario

 

Joe Lipsett, President

 

Date founded:

 

 

April 12,2007


 

Corporation for Profit

 

 

N.A.

 

 

 

Employees:  60

 

Legal form:

 

Stock:

 

Value:

 

 

Staff:

Business: 

Manufactures Metal Work Machinery

 

 

BANKS

 

BMO Bank of Montreal

 

 

BUSINESS

 

Business:

 

Incorporated in 1984, Quickmill Inc. manufactures and markets large area, CNC gantry and bridge-style machining centers. These machines are used in heat exchanger, pressure vessel, petro-chemical, heavy
equipment, structural steel and piping industries. A wide range of applications and flexibility are available due to the modular design as well as custom software of these machines. Quickmill Inc. markets and supports all its machines in the United States and Canada. We have distributors in Canada, USA, Mexico South Africa and United Kingdom.

 

Way of payments:

 

Usually 45 days net

Key / Major Clients:

 

- Alfa-Laval
- Canron
- Caterpillar
- Dunham-Bush
- Komatsu-Dresser
- Carrier

 

 

 

SHAREHOLDERS – SUBSIDIARIES – MANAGERS

 

Pivate investors, including Joe Lipsett,

 

 

FINANCIALS – COMMERCIAL TRENDS AND FORECAST

 

Annual sales are about CAD 20 Million

 

 

LEGALS

 

0 Suits

 

0 Judgements

 

0 Liens

 

0 Collection Claims Reported

 

0 NSF Cheques Reported

 

1 PPSA Filing in 2007 by 1254670 Ontario limited securing Book Debts.  Amount: NA

1 PPSA Filing in 2004 by Toyota Credit Canada Inc securing Equipment. Amount: $41,608

 

PAYMENT REFERENCES

 

 

Date                 High Credit        Now Owing        Past Due           Terms               Payment Record

 

--

 

 

RATING

 

Our final opinion

 

A good business connection is possible

 

 

SUMMARY

 

--

 

 

ADVISED CREDIT

 

  100,000 CAD

 

 

 

 

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