MIRA
INFORM REPORT
|
Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TRAVEL INFORMATION NETWORK, INC. |
|
|
|
|
Registered Office : |
5145 Timberlea Blvd Mississauga, ON
L4W 2S3 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
15.06.1990 |
|
|
|
|
Legal Form : |
Corporation for Profit |
|
|
|
|
Line of Business : |
Marketing Services,
Travel Packages |
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 : |
USD 100,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
REQUIRED CREDIT |
ADVISED CREDIT |
|
MAXIMUM |
100,000 USD |
GEOPOLITICS
|
POLITICAL DATA |
ECONOMIC DATA |
||
|
FORM OF GOVERNMENT ECONOMIC RISK |
Federal
|
CURRENCY BRANCH SITUATION |
CAD 100 = EUR 63 Satisfying |
IDENTIFICATION
|
Company Name: |
Travel Information Network, Inc. |
||
|
Address: |
5145 Timberlea
Blvd Mississauga,
ON L4W 2S3 Canada |
||
|
Phone: Facsimile: ID: State: Managers: |
905-212-7707 905-212-7593 ON-0000901029 Ontario Allen Krause, President |
Date founded: |
June 15, 1990
Corporation for Profit N.A. Employees: 10 |
|
Legal form: |
|||
|
Stock: |
|||
|
Staff: |
|||
|
Business: |
Marketing Services, Travel Packages |
||
BANKS
-
DOMINION BANK,
-
RBC.
BUSINESS
Operations:
At the above address, we find the offices of the company Travel
Information Network, Inc.
Activity:
Travel Information Network, Inc delivers travel information.
The company originally developed a niche in the Canadian fax
broadcasting market and over the last 5 years has evolved to include email and
internet broadcasting technologies.
The company works mainly on the Canadian market.
Business
Overview:
Demand is driven by business and tourist travel, which depends on the
economy. The profitability of individual companies depends on marketing. Large
companies have an advantage in being able to provide a wider range of services,
especially to corporate customers, and to afford sophisticated websites. Small
companies can compete effectively by providing service to a few large customers
or by serving a local market. Despite automation, the industry remains labor-intensive;
average annual revenue per employee at traditional travel agencies is just
$75,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The company is
privately held.
The director is:
- Allen Krause, President.
He is also
the main shareholder.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Travel Information Network does not publish
its financials.
However
our financial sources could provide us with the following information:
|
Fiscal Year In CAD |
12/31/2007 |
|
Turnover |
3,900,000 |
|
Operating profit |
213,000 |
|
Net income |
187,000 |
|
Net worth |
400,000 |
|
Liabilities |
50,000 |
A litigation search shows no significant
legal actions in the name of the subject firm.
LEGALS
0 Suits
0 Judgements
0 Liens
0 Collection Claims Reported
0 NSF Cheques Reported
0 PPSA 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 cash flow is correct.
Payments are made on 38 days nets as monitored during the past 12
months.
Our final opinion:
This is a small business working on the Canadian market.
A credit line may be considered.
SUMMARY
|
FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
||
|
PROFITABILITY INDEBTNESS CASH |
Average Controlled Correct |
PUBLIC PAYMENTS |
No Regular |
ADVISED
CREDIT
100,000 USD
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%)