MIRA INFORM REPORT

 

 

Report Date :

19.06.2008

 

 

IDENTIFICATION DETAILS

 

Name :

REAL GEMS CORPORATION

 

 

Registered Office :

6222 Richmond Ave Ste 800, Houston, TX 77057-6236

 

 

Country :

United States

 

 

Date of Incorporation :

21.03.1986

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Wholesaler of  Jewelry and Precious Stones

 

 

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

 

Status :

Small Company

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

 

REQUIRED CREDIT

 

 

MAXIMUM

 

 

 

GEOPOLITICS

 

 

POLITICAL DATA

 

 

ECONOMIC DATA

FORM OF GOVERNMENT

 

ECONOMIC RISK

Federal

 


None

 

CURRENCY

 

BRANCH SITUATION

 

USD

 

Satisfying

 

 

IDENTIFICATION

 

Company name:

 

 

 

 REAL GEMS CORPORATION

Address:

 

6222 Richmond Ave Ste 800,

Houston, TX 77057-6236,

United States  

 

Phone:

Facsimile:

 

ID:

 

State:

 

Managers:

 

+ 1 (713) 783-5500

+ 1 (713) 977-7325

 

0006869106

 

Texas

 

Udai Jane, President

 

Date founded:

 

 

March 21, 1986
 

 

Corporation for profit

 

N.A.

 

 

 

13 employees

 

Legal form:

 

Stock:

 

 

 

Staff:

Business: 

Wholesaler of  jewelry and precious stones

 

 

BANKS

 

SOUTHERN NATIONAL BANK OF TEXAS

BELLFORT NATIONAL BANK

 

 

BUSINESS

 

Operations & Business:

 

Real Gems Corporation is a private company located in Houston, Texas. Real Gems Corporation's line of business is wholesaler of jewelry and precious stones.

 

Industry Overview:

 

The US jewelry industry generates annual revenues of about $25 billion from 30,000 specialty stores. Large companies include Zale, Tiffany, and Sterling Jewelers. The industry is fragmented: the top 50 jewelry chains hold less than half of the market. Jewelry sales depend partly on consumer income. Small jewelers can effectively compete with large chains because price isn't the main factor determining sales. Profitability depends on merchandising and effective marketing. Average industry revenue per worker is about $160,000. Jewelry is also sold in department and discount stores, and by mass merchants. Because regular gross margins are very high, often 50 percent, mass merchants have been able to cut prices and take market share. Wal-Mart is the largest jewelry retailer in the US.

 

 

SHAREHOLDERS – SUBSIDIARIES – MANAGERS

 

The director of the company is:

 

Udai Jane, President.

 

He is also the main shareholder.

 

 

FINANCIALS – COMMERCIAL TRENDS AND FORECAST

 

Real Gems Corporation does not publish any financial statement.

 

However our financial sources could provide us with the following information:

 

Fiscal Year

In USD

 

12/31/2007

Turnover

2,100,000

 

                                                                 

There is no legal filling listed with the District Court.

 

There is 2 active UCC file listed with the Secretary of State of Texas.

Filing Number:  0300099940

Filing Date:  12-05-2002

Original Filing Date:  03-08-1988

Filing Expiration Date:  03-10-2008

Filing Location:  SECRETARY OF STATE/UCC DIVISION

1019 BRAZOS 5TH FL

AUSTIN TX 78701

Filing Type: CONTINUATION

--------------------------------------------------------------------------------

Secured Party: SOUTHERN NATIONAL BANK OF TEXAS

Address:  14060 SOUTHWEST FREEWAY

SUGAR LAND TX 77478

 

Secured Party: BELLFORT NATIONAL BANK

Address:  P O BOX 31699

HOUSTON TX 77231

Debtor: REAL GEMS CORPORATION

Address:  5444 WESTHEIMER STE NO 655

HOUSTON TX 77056

Debtor: REAL GEMS CORPORATION

Address:  6222 RICHMOND SUITE 800

HOUSTON TX 77057

--------------------------------------------------------------------------------

2. 

Filing Number:  0600154559

Filing Date:  05-05-2006

Original Filing Date:  03-08-1988

Filing Expiration Date:  03-10-2008

Filing Location:  SECRETARY OF STATE/UCC DIVISION

1019 BRAZOS 5TH FL

AUSTIN TX 78701

Filing Type: ASSIGNMENT

--------------------------------------------------------------------------------

Secured Party: SOUTHERN NATIONAL BANK OF TEXAS

Address:  14060 SOUTHWEST FREEWAY

SUGAR LAND TX 77478

 

Secured Party: BELLFORT NATIONAL BANK

Address:  P O BOX 31699

HOUSTON TX 77231

 

Secured Party: PROSPERITY BANK

Address:  P.O. DRAWER G

EL CAMPO TX 77437

Debtor: REAL GEMS CORPORATION

Address:  5444 WESTHEIMER STE NO 655

HOUSTON TX 77056

Debtor: REAL GEMS CORPORATION

Address:  6222 RICHMOND SUITE 800

HOUSTON TX 77057

 

 

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 a regular basis.

 

 

Our final opinion:

 

This is a small company working in the US.

 

A credit line may be considered.

 

 

SUMMARY

 

 

FINANCIAL SUMMARY

 

 

DEBT COLLECTIONS AND PAYMENTS

PROFITABILITY

 

INDEBTNESS

 

CASH

 

Correct

 

Controlled

 

Correct

 

 

 

 

PUBLIC

 

PAYMENTS

 

 

See above

 

regular

 

 

 

 

 

 

 

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