MIRA INFORM REPORT

Report Date :

07.03.2008

IDENTIFICATION DETAILS

Name :	3385175 CANADA INC

Registered Office :	4058 Jean Talon West Suite 100, Montreal

Country :	Canada

Date of Incorporation :	19/06/1997

Legal Form :	Federally Chartered Corp. - Private

Line of Business :	The Company is a diamond jewelry manufacturer and wholesaler.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

Litigation :	Clear

IDENTIFICATION & EXECUTIVE SUMMARY

Company Name: 3385175 CANADA INC.

Trade Name: First Canadian Diamond Cutting Works

Address: 4058 JEAN TALON WEST SUITE 100

City: MONTREAL

State/Province: PQ

Zip Code: H4P 1V5 Telephone: 514-875-4800

Facsimile: 514-393-1295

URL N/A

Legal Form: Federally Chartered Corp. - Private

Shareholder: Mr. Mayer Gniwisch

Business Activity: The Company is a diamond jewelry manufacturer and wholesaler.

Founded (D/M/Y): 1997

In K CAD as of : 31/01/2007

Net Income: -

Sales / Revenue: 27,000

Country: CANADA

Total Equity: -

Number of Employees: 50

NOTE TO CLIENT

UPDATED

PLEASE SEE TRADE REFERENCES FOR UPDATED INFORMATION

NOTE:: LEGAL NAME: 3385175 CANADA INC. ORDERED NAME: FIRST CANADIAN DIAMOND CUTTING WORKS INC.

PLEASE NOTE THAT THE ORDERED NAME IS NOT A LEGAL ENTITY. IT IS A PART OF THE TRADE NAME, FIRST CANADIAN DIAMOND CUTTING WORKS

Person Contacted: Mr. Yehuda Gniwisch, Director. He verified and updated the information presented to him.

LEGAL

Legal Form: Federally Chartered Corp. - Private

Incorporation State Canada

Status: ACTIVE

Since (D/M/Y): 19/06/1997

The company is NOT required to publish an annual financial report.

The Company federally Chartered in Canada under the following registration:

Corporation #3385175

BN #883554891RC0001

Corporation Name(s): 3385175 CANADA INC.

Mailing Address: [Latest address on file]

Care of:

Street: 4058, RUE JEAN-TALON OUEST, BUREAU 100

MONTRÉAL (QUÉBEC) H4P 1V5

Province: Quebec

Postal Code: H2Z1P4

Country: Canada

Registered Office Address: [Latest address on file]

Care of:

Street: 1085 ST-ALEXANDER ST. 500

City: MONTREAL

Province: Quebec

Postal Code: H2Z1P4

Country: Canada

Reg. Off. Eff: 1997/06/19

Status: Active

Incorporation Date: 1997/06/19

The Company provincially qualified in Quebec under the following registration:

File Number: 1147690151

Legal Name: 3385175 CANADA INC.

Incorporation Date: 6/19/1997

Last Annual Report: 11/22/2006

Location: Canada

Address: 4058, RUE JEAN-TALON OUEST, BUREAU 100

MONTRÉAL (QUÉBEC) H4P 1V5

MANAGERS / KEY PERSONNEL

Mr. Mayer Gniwisch President

Ms. Brenda Gniwisch Secretary & Treasurer

Mr. Gavriel Cohen Controller

Mr. Yehuda Gniwisch Director

Owners

Mr. Mayer Gniwisch Majority

Ms. Brenda Gniwisch Shareholder

Ms. Dina Gniwisch Shareholder

Mr. Yehuda Gniwisch Shareholder

AFFILIATED COMPANIES

The Company is affiliated with the following companies through common ownership:

DELMAR MANUFACTURING

ICE.COM, INC.

-DIAMOND.COM, LLC

-3733599 CANADA INC.

SUBSIDIARIES

The Company has no subsidiaries.

BANKS

CIBC

Address: 600 Rue Cathcart

City: Montreal

State/Province: PQ

Zip Code: H3B1K8

Country: CANADA

Telephone: (514) 867-2962

Facsimile: (514) 876-8649

This bank only reports credit information to other banks.

PAYMENT HISTORY

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

Supplier's Name/Industry Terms Amount/Pay Habits/Comments

Rptd Open Credit Credit High Total Current Past Due/Pay Period

Date Date Limit Limit Dt. Credit Owing $ 1st 2nd 3rd

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

Whlsl-Ind Mach Sppls:

*Feb 0 113 113 113 0 0 0

Transportation Serv:

*Dec 0 117K 117K 101K 14,915 0 1,134

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

P.I. = 5 90 Days 117K 117K 101K 14,915 0 1,134

Reported ------- ------- ------- ------- ------- -------

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

P.I. = 5 Total 117K 117K 101K 14,915 0 1,134

Reported ------- ------- ------- ------- ------- -------

PAYMENT TRENDS

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

Payment C.I. Number of Total Current Overdue

Quarters Index Score Suppliers Owing $ 1st 2nd 3rd

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

4 Qtr/2007 5 8 2 118,115 101,857 15,124 0 1,134

3 Qtr/2007 3 8 2 134,846 124,924 8,418 52 1,452

2 Qtr/2007 3 12 2 118,471 112,425 2,919 0 3,127

1 Qtr/2007 0 14 1 36 36 0 0 0

4 Qtr/2006 3 12 2 118,144 112,331 2,686 0 3,127

3 Qtr/2006 15 18 2 56,880 48,391 0 0 8,489

2 Qtr/2006 15 12 2 111,448 81,281 18,635 3,385 8,147

1 Qtr/2006 0 20 1 20 20 0 0 0

4 Qtr/2005 12 16 2 116,089 77,788 36,623 0 1,678

FINANCIAL INFORMATION

	Fiscal Year End :		In K	CAD

	Year-End (D/M/Y)	31/01/2007	31/01/2006

Income Statement		Consolidated	Consolidated

	Global Net Sales	27,000	2,700

FINANCIAL INDICATORS

Mr. Gniwisch stated net sales for Fiscal Year End January 31, 2007 and 2006 were approximately CAD 27 Million. He declined to provide current financial statement information, per company policy.

HISTORY

The Company moved from 1085 RUE ST. ALEXANDRE SUITE 500, MONTREAL, QC to the heading address in the summer of 2006.

CURRENT OPERATIONS

	SIC Code:
	NAICS Code:	339913
		Jewelers' Material and Lapidary Work Manufacturing
	Number of Employees:	50
	Business Activity:
	The Company is a diamond jewelry manufacturer and wholesaler.

The Subject imports from Israel and India and exports to the United States.


	The heading address is the headquarters for the Subject. The facility consists
	of office and warehouse space.

	The Company has an additional office in Champlain, New York.

TRADE REFERENCES

FREMADA GOLD
Address:	New York, NY	Amount Outstanding:	71,000

Telephone:

212-921-8829

Amount Past Due:

93,000

Facsimile:

212-764-4101

High Credit Utilized:

332,000

Contact:

Avi Shapira

Terms:

Net 30

Credit Limit:

375,000

Days to Pay:

In USD; Acct. Opened: 2001; Last Sale: 2/3/08; No Returned Checks; Rating: Excellent

BYO LLC

Address:

New York, NY

Amount Outstanding:

Telephone:

212-398-9292

Amount Past Due:

Facsimile:

212-398-6161

High Credit Utilized:

800,000

Contact:

Mendy Lieberman

Terms:

Net 60 to 120 days

Credit Limit:

1,000,000

Days to Pay:

In USD; Acct Opened: 5/06; No Returned Checks; Rating Excellent

COTEL

Address:

New York, NY

Amount Outstanding:

Telephone:

212-245-6200

Amount Past Due:

Facsimile:

212-245-5266

High Credit Utilized:

Contact:

Terms:

Credit Limit:

Days to Pay:

A fax was sent to this company for credit information.

PUBLIC RECORD

A search of public records revealed no derogatory information, Uniform Commercial Codes, or bankruptcy

petitions.

COMMENTS

The Subject, founded in 1997, is engaged as a diamond jewelry wholesaler and manufacturer. The payment record is very limited, however, generally satisfactory and the operating history is clear. No derogatory information orbankruptcy petitions were reported or noted. The Company is responsible for normal business transactions.

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