MIRA INFORM REPORT

 

 

Report Date :

08.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

GANDI INNOVATIONS

 

 

Registered Office :

941 ISOM RD SAN ANTONIO, TX 78216-4136

 

 

Country :

United States

 

 

Date of Incorporation :

11.28.2000

 

 

Com. Reg. No.:

783945870

 

 

Legal Form :

Private Company

 

 

Line of Business :

Miscellaneous Retail Stores

 

 

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 :

Moderates

 

 

Payment Behaviour :

Slow by 46 days

 

 

Litigation :

Clear

 

 

 

 

 

 

 

           

Company Information

 

 

GANDI INNOVATIONS
941 ISOM RD
SAN ANTONIO, TX 78216-4136
(210) 344-9566

Business Identification Number:

783945870

File Established:

11/2001

Date of Incorporation:

11/28/2000

SIC code: 

MISCELLANEOUS RETAIL STORES - 5900

 

Executive Summary

 

 

  Intelliscore for GANDI INNOVATIONS

 

 

34.49

 

 

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
21% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF TRADES WITH A HIGH BALANCE TO HIGH CREDIT RATIO

NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS

BALANCES ON DELINQUENT OR DEROGATORY ACCOUNTS

NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS



  Current DBT range compared to all industries*

46 DBT
($12,100 Balance)

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 8 DBT        Same industry: 10 DBT

 

 

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings: details (FILED 08/06)

2

Judgment filings:

0

Total collections: details (PLACED 03/05)

1

Sum of legal filings:

$1,067

UCC filings: details (FILED 03/06-05/07)

3

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

23

Highest DBT previous 6 months:

54

Highest DBT previous 5 quarters:

54

Total continuous trades:

8

Current continuous trade balance:

$12,100

Trade balance of all trades (15):

$15,400

Average balance previous 5 quarters:

$27,100

Highest credit amount extended: details

$48,700

6 month balance range:

$9,900 - $55,400

* 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.

** 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.

  7 month DBT trends

 

90+

60

30

 


23

 


23

 


16

 


9

 


17

 


54

 


46

 

0

Aug07

Sep07

Oct07

Nov07

Dec07

Jan08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


0

 


24

 


16

 


23

 


13

 

0

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

 

Performance Analysis

 

Predicted DBT for 04/30/2008: 43 DBT

Payment Trend Indication:
Show No Identifiable Trend

Industry payment comparison:
Has paid slower than 75% of similar firms

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

 

 

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Legal Filings and Collections

 

 

  Collections

Date
Placed

Status

Original
Balance

Outstanding
Balance

Date
Closed

Agency

Agency
Phone

03/2005

Paid in Full

$3,462

 

$0

 

05/2005

RECEIVABLE MANAGEMENT SERVICES

(000) 000-0000

 

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  Tax Liens

File
Date

Filing
Type

Status

Amount

Filing
Number

Jurisdiction

12/28/2006

State Tax Lien

Released

$726

 

B659 P84

FULTON COUNTY SPR CO

12/28/2006

State Tax Lien

Released

$341

 

B659 P85

FULTON COUNTY SPR CO

08/28/2006

State Tax Lien

Filed

$726

 

B592 P713

FULTON COUNTY SPR CO

08/28/2006

State Tax Lien

Filed

$341

 

B592 P714

FULTON COUNTY SPR CO

 

 

 

 

 

 

 

 

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

01/2008

01/2008

 

 

$48,700

$4,300

94%

6%

 

 

 

CUST 8 YR

 AIR TRANS

01/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 3 YR

+BUS SERVCS

02/2008

 

VARIED

 

$200

$200

100%

 

 

 

 

 

-CELLUL/PAG

12/2007

09/2006

NET 30

 

$5,100

$5,100

 

 

 

 

100%

CHARGE OFF

 FREIGHT

02/2008

10/2006

VARIED

 

$2,000

$0

 

 

 

 

 

 

=PACKAGING

02/2008

 

NET 30

 

$2,500

$2,500

59%

41%

 

 

 

CUST 4 YR

 TRANSPORTN

02/2008

 

NET 30

 

$500

$0

 

 

 

 

 

PROMPT

 TRUCK DLR

10/2007

 

CONTRCT

 

$2,000

$0

 

 

 

 

 

 

 

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

8

 

 

$61,000

$12,100

47%

11%

 

 

42%

DBT: 46

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

8

 

 

$61,000

$12,100

47%

11%

 

 

42%

DBT: 46

 

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

 ADMIN

05/2005

 

CREDIT

 

 

$0

 

 

 

 

 

CUST 37 YR

 BUS SERVCS

03/2006

03/2006

NET 30

 

 

$0

 

 

 

 

 

 

 FINCL SVCS

12/2006

 

 

 

 

$0

 

 

 

 

 

SATSFTRY

=FRGHT FWRD

09/2005

 

NET 30

 

$100

$100

 

100%

 

 

 

 

-INDUS MACH

02/2006

 

COD

 

$500

$100

 

 

 

 

100%

 

-MISC MANUF

11/2005

 

VARIED

 

$3,100

$3,100

 

 

 

 

100%

 

 TEMP HELP

08/2006

 

NET 7

 

 

$0

 

 

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
MISCELLANEOUS RETAIL STORES INDUSTRY SIC: 5900

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

46

$12,100

 

47%

11%

 

 

42%

JAN08

70%

10

54

$9,900

 

46%

3%

 

 

51%

DEC07

82%

7

17

$32,500

 

84%

 

 

 

16%

NOV07

83%

7

9

$55,400

 

91%

 

 

 

9%

OCT07

84%

7

16

$34,500

 

85%

 

 

 

15%

SEP07

85%

6

23

$23,100

 

78%

 

 

 

22%

AUG07

85%

6

23

$23,000

 

78%

 

 

 

22%

 

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

13

$40,800

 

88%

 

 

 

12%

Q3 - 07

JUL-SEP

23

$23,200

 

78%

 

 

 

22%

Q2 - 07

APR-JUN

16

$35,500

 

79%

5%

2%

 

14%

Q1 - 07

JAN-MAR

24

$23,300

 

73%

5%

 

 

22%

Q4 - 06

OCT-DEC

0

$12,700

 

100%

 

 

 

 

 

Inquiries   

 

 

  Summary of Inquiries

Business
Category

MAR08

FEB08

JAN08

DEC07

NOV07

OCT07

SEP07

AUG07

JUL07

BUREAU

 

 

 

 

 

 

 

 

1

Totals

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

 

 

 

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

2

2

 

 

 

JUL - DEC

 

2006

 

 

 

 

 

JAN - JUN

 

2006

1

1

 

 

 

PRIOR TO JAN

 

2006

 

 

 

 

 

Total

 

3

3

 

 

 

 

** 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: 05/29/2007

Filing Number: 0700179219

Jurisdiction: SEC OF STATE TEXAS

Secured Party: STATE BANK OF INDIA (CANADA) YY TORONTO M5J2J STE 1600 ROYAL

Collateral: EQUIP, INVENTORY, HEREAFTER AQUIRED PROP, UNDEFINED


UCC FILED Date: 03/02/2007

Filing Number: 0700071773

Jurisdiction: SEC OF STATE TEXAS

Secured Party: NMHG FINANCIAL SERVICES, INC. CT DANBURY 06810 10 RIVERVIEW

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED


UCC FILED Date: 03/10/2006

Filing Number: 0600079693

Jurisdiction: SEC OF STATE TEXAS

Secured Party: STATE BANK OF INDIA (CANADA) YY TORONTO M5J2J STE 1600 ROYAL

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

 

Company Background Information

 

 

  Corporate Registration

 

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF TEXAS

State of Origin: TX

Date of Incorporation: 11/28/2000

Current Status: Active


Business Type: Institutions - Profit

Charter Number: 0707889522

State Tax ID: 17429818325


Agent: YAN YAN

Agent Address: 70 EL PASO ST SAN ANTONIO, TX

 

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  Additional Company Background Information

 

Key Personnel

Principal(s): 

JAMES GANDY

 

TRENT GARMOE, OWNER

 

JAMES GANDI, OWNER


Operating Information

Business Type: Institutions


Primary SIC Code: MISCELLANEOUS RETAIL STORES - 5900

Secondary SIC Code: MISCELLANEOUS RETAIL STORES, NEC - 5999

Additional SIC Code: 4231


Number of Employees: 25



 

 

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