MIRA INFORM REPORT

Report Date :

19.03.2008

IDENTIFICATION DETAILS

Name :	ELG METALS INC

Registered Office :	9400 RAYO AVE SOUTH GATE, CA 90280-3615

Country :	United States

Date of Incorporation :	01/1999

Com. Reg. No.:	796715465

Legal Form :	Private Limited Company

Line of Business :	Scrap and Waste Materials

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 :	5 days beyond terms

Litigation :	Clear

Executive Summary

Intelliscore for ELG METALS INC

73.85

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

100

High risk

Low risk

LOW TO MEDIUM RISK
77% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF ACTIVE ACCOUNTS

NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS

NUMBER OF DELINQUENT ACCOUNTS

NUMBER OF CURRENT ACCOUNTS

Current DBT range compared to all industries*

5 DBT
($3,600 Balance)

0-15

16-50

51+

80%

11%

% of US businesses falling within DBT range

DBT Norms:
All industries: 7 DBT Same industry: 5 DBT

Legal Filings and Collections

Bankruptcy filings:

Tax lien filings:

Judgment filings:

Total collections:

Sum of legal filings:

UCC filings:

Cautionary UCC filings present?

Trade Information

Monthly average DBT:

Highest DBT previous 6 months:

Highest DBT previous 5 quarters:

Total continuous trades:

Current continuous trade balance:

$3,600

Trade balance of all trades (16):

$305,200

Average balance previous 5 quarters:

$1,540

Highest credit amount extended: details

$57,100

6 month balance range:

$1,200 - $4,700

* 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+

Sep07

Oct07

Nov07

Dec07

Jan08

Feb08

Current

Quarterly DBT trends (previous 5 quarters)

90+

4Q06

1Q07

2Q07

3Q07

4Q07

Performance Analysis

Predicted DBT for 05/14/2008: 5 DBT

Payment Trend Indication:
Are Stable

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

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

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

11/2007

$1,100

$800

100%

CUST 25 YR

+AIR TRANS

01/2008

NET 30

$1,900

$1,700

100%

CUST 19 YR

FACTOR

03/2008

NET 30

CUST 7 YR

-FREIGHT

03/2008

12/2007

VARIED

$400

100%

+FREIGHT

03/2008

01/2008

VARIED

$700

100%

NONFER MTL

02/2008

05/2004

VARIED

$57,100

PACKAGING

03/2008

NET 30

CUST 6 YR

PETROLEUM

03/2008

08/2005

NET 15

$5,000

SAFTY PROD

12/2007

NET 30

CUST 2 YR

SAFTY PROD

11/2007*

08/2007

NET 30

CUST 2 YR

TRANSPORTN

03/2008

04/2004

VARIED

$800

CUST 4 YR

WAREHOUSE

02/2008

CREDIT

$1,100

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

$68,100

$3,600

88%

12%

DBT: 5

Newly Reported

DBT: 0

Trade Lines Totals

$68,100

$3,600

88%

12%

DBT: 5

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

MANUFCTRNG

09/2005

NET

CUST 5 YR

-METAL

08/2007

07/2007

VARIED

+$300,000

52%

48%

CUST 8 YR

+TEMP HELP

11/2006

12/2006

ROI

$4,000

$1,600

100%

TRANSPORTN

07/2006

NET 15

ACCTCLOSED

Monthly Payment Trends

Payment Trends Analysis
SCRAP AND WASTE MATERIALS WHLSNG INDUSTRY SIC: 5093

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

$3,600

88%

12%

FEB08

88%

$3,700

88%

12%

JAN08

88%

$4,700

100%

DEC07

89%

$1,300

100%

NOV07

89%

$1,900

100%

OCT07

90%

$1,200

100%

SEP07

90%

$1,900

100%

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

$1,700

100%

Q3 - 07

JUL-SEP

$1,800

100%

Q2 - 07

APR-JUN

$1,000

100%

Q1 - 07

JAN-MAR

$1,600

100%

Q4 - 06

OCT-DEC

$1,600

100%

Company Background Information

Additional Company Background Information

Operating Information

Primary SIC Code: SCRAP AND WASTE MATERIALS WHLSNG - 5093

Number of Employees: 30

Sales: $5,000,000

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

MIRA INFORM REPORT

Company Information

Executive Summary

Performance Analysis

Trade Payment Information

Trade Payment Totals

Additional Payment Experiences

Monthly Payment Trends

Quarterly Payment Trends

Company Background Information