MIRA INFORM REPORT

 

 

Report Date :

04.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

ALMA DIAMONDS INC

 

 

Registered Office :

579 5th Ave New York, NY 10017-1917

 

 

Country :

United States

 

 

Date of Incorporation :

08.23.2001

 

 

Com. Reg. No.:

700479057

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

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 :

Moderate

 

 

Payment Behaviour :

Slow by 9 days

 

 

Litigation :

Clear

 

 

 

 

 

 

 

Company Information

 

 

ALMA DIAMONDS INC
579 5TH AVE
NEW YORK, NY 10017-1917
(212) 752-2146

Business Identification Number:

700479057

 File Established:

11/1978

Date of Incorporation:

08/23/2001

SIC code: 

JEWELRY & PRECIOUS STONES WHLSNG - 5094

 

Executive Summary

 

 

  Intelliscore for ALMA DIAMONDS INC

 

 

55.00

 

 

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 TO HIGH RISK
33% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS

NUMBER OF ACTIVE ACCOUNTS

NUMBER OF DELINQUENT ACCOUNTS

NUMBER OF CURRENT ACCOUNTS



  Current DBT range compared to all industries*

9 DBT
($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: 5 DBT

 

 

 

 

 

 

Legal Filings and Collections

Bankruptcy filings: details (FILED 11/01)

1

Tax lien filings:

0

Judgment filings: details (FILED 08/01-06/02)

2

Total collections:

0

Sum of legal filings:

$39,399

UCC filings: details (FILED 11/05)

1

Cautionary UCC filings present?

No



Trade Information

Monthly average DBT:

2

Highest DBT previous 6 months:

9

Highest DBT previous 5 quarters:

9

Total continuous trades:

4

Current continuous trade balance:

$200

Trade balance of all trades (6):

$300

Average balance previous 5 quarters:

$1,760

Highest credit amount extended: details

$5,200

6 month balance range:

$100 - $2,700

* 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

 


6

 


2

 


6

 


9

 

0

Jul07

Aug07

Sep07

Oct07

Nov07

Dec07

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


6

 


6

 


0

 


0

 


4

 

0

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

 

Performance Analysis

 

Predicted DBT for 04/09/2008: 9 DBT

Payment Trend Indication:
Payments Are Increasingly Late

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

Most Frequent Industry Purchasing Terms:
NET 30, CREDIT, and 0000000

 

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Legal Filings and Collections

 

 

  Bankruptcy

File
Date

Filing
Type

Status

Liability
Amount

Asset
Amount

Exempt
Amount

Owner

Filing
Number

Jurisdiction

06/26/2002

Bankruptcy

Chapter 7 Dismissed

$0

 

$0

 

$0

 

 

0115603

 

06/26/2002

Bankruptcy

Chapter 7 Dismissed

$0

 

$0

 

$0

 

 

0115603

 

11/01/2001

Bankruptcy

Chapter 7 Involuntary

$0

 

$0

 

$0

 

 

0115603

 

 

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  Judgments

File
Date

Filing
Type

Status

Amount

Plaintiff

Filing
Number

Jurisdiction

06/06/2002

Judgment

Filed

$34,301

 

PROSKAUER ROSE LLP

001562430

NEW YORK COUNTY REG

12/06/2001

Judgment

Satisfied

$5,098

 

OXFORD HEALTH PLANS

1103601

NEW YORK CITY CVL CT

08/27/2001

Judgment

Filed

$5,098

 

OXFORD HEALTH PLANS

1103601

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

+AIR TRANS

12/2007

 

 

 

$5,200

$100

100%

 

 

 

 

CUST 25 YR

 AIR TRANS

01/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 2 YR

 BUS SERVCS

01/2008

 

VARIED

 

$100

$0

 

 

 

 

 

 

-OFFC SUPPL

10/2007

09/2007

NET 30

 

$300

$100

 

100%

 

 

 

CUST 22 YR

 

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

4

 

 

$5,600

$200

38%

62%

 

 

 

DBT: 9

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

4

 

 

$5,600

$200

38%

62%

 

 

 

DBT: 9

 

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

 LEASING

02/2005

 

CONTRCT

 

 

$0

 

 

 

 

 

CUST 1 YR

+TELECOM

05/2007

 

NET 30

 

$200

$100

100%

 

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
JEWELRY & PRECIOUS STONES WHLSNG INDUSTRY SIC: 5094

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

9

$200

 

38%

62%

 

 

 

DEC07

89%

5

6

$300

 

58%

42%

 

 

 

NOV07

89%

4

2

$1,500

 

89%

11%

 

 

 

OCT07

88%

4

6

$2,200

 

62%

38%

 

 

 

SEP07

88%

4

0

$400

 

100%

 

 

 

 

AUG07

90%

4

0

$2,700

 

100%

 

 

 

 

JUL07

89%

4

0

$1,600

 

99%

1%

 

 

 

 

Quarterly Payment Trends

 

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q4 - 07

OCT-DEC

4

$1,300

 

72%

28%

 

 

 

Q3 - 07

JUL-SEP

0

$1,600

 

100%

 

 

 

 

Q2 - 07

APR-JUN

0

$3,900

 

98%

2%

 

 

 

Q1 - 07

JAN-MAR

6

$1,100

 

61%

39%

 

 

 

Q4 - 06

OCT-DEC

6

$900

 

61%

39%

 

 

 

 

UCC Profile

 

The UCC Filings are summarized and listed below.

UCC Summary

Filings

Date Range

Year

Cautionary
UCCs**

Total
Filed

Released/
Term'd

Cont

Amended/
Assigned

JAN - PRESENT

 

2008

 

 

 

 

 

JUL - DEC

 

2007

 

 

 

 

 

JAN - JUN

 

2007

 

 

 

 

 

JUL - DEC

 

2006

 

 

 

 

 

JAN - JUN

 

2006

 

 

 

 

 

PRIOR TO JAN

 

2006

 

1

 

 

2

Total

 

 

1

 

 

2

 

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

 

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  UCC Filings

 

UCC FILED Date: 11/18/2005

Filing Number: 5358237 7

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: BANK LEUMI USA NY NEW YORK 10170 420 LEXINGTON AVENUE

Collateral: UNDEFINED


UCC AMENDED Date: 11/21/2005

Filing Number: 200511216017694

Original Filing Date: 08/06/2002

Original Filing Number: 181381

Original Filing State: NY

Jurisdiction: SEC OF STATE NEW YOR

Secured Party: SOVEREIGN BANK

Collateral:  


UCC AMENDED Date: 11/18/2005

Filing Number: 200511186013005

Original Filing Date: 01/18/1993

Original Filing Number: 011048

Original Filing State: NY

Jurisdiction: SEC OF STATE NEW YOR

Secured Party: BANK LEUMI USA

Collateral:  

 

Company Background Information

 

 

  Additional Company Background Information

 

Key Personnel

Principal(s): 

BEN CAGE, MANAGER

 

PRASHANT GANDHI, PRESIDENT

 

ARUN KOTHARI, CHIEF EXEC


Operating Information

Business Type: Institutions


Primary SIC Code: JEWELRY & PRECIOUS STONES WHLSNG - 5094

Secondary SIC Code: JEWELRY STORES - 5944


Number of Employees: 14

Sales: $362,000

 

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