MIRA
INFORM REPORT
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Report Date : |
26.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOFTNOVATION LLC |
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Registered Office : |
571 Sanderling Court, Secaucus, Nj 07094 |
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Country : |
United States |
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Date of Incorporation : |
12/03/2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
The Subject is a software development solution firm. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company Name: SOFTNOVATION LLC
Trade Name:
Address: 571
SANDERLING COURT
City: SECAUCUS
State/Province: NJ
In K USD as of :
Zip Code: 07094
Sales / Revenue: -
Country: UNITED
STATES
Net Income: -
Founded (D/M/Y):
Telephone: 201 617-9889
Facsimile: 201 617-8588
Total Equity:
Number of
Employees: 2
URL No
Website.
Legal Form: Limited
Liability Company
Shareholder: Mr. Hemen Patel
Business Activity: The Subject is a
software development solution firm.
NOTE TO CLIENT
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Contacted Person: Hemen Patel, Owner, verified all the information in |
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this report. |
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LEGAL
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Legal Form: |
Limited Liability Company |
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Incorporation State |
DE |
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Status: |
ACTIVE |
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Since (D/M/Y): |
12/03/2003 |
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The company is NOT required to publish an annual financial report. |
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The Company is register in the State of Delaware under the following |
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registration: |
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File Number: 3635543 |
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Incorporation Date / Formation Date: 03/12/2003(mm/dd/yyyy) |
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Entity Name: SOFTNOVATION LLC |
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Entity Kind: LIMITED LIABILITY COMPANY (LLC) |
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Entity Type: GENERAL |
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Residency: DOMESTIC |
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State: DE |
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REGISTERED AGENT INFORMATION |
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Name: GLOBAL CORPORATE SERVICES, INC. |
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Address: 704 N. KING STREET, SUITE 500 P.O. BOX 1031 |
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City: WILMINGTON County: NEW CASTLE |
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State: DE Postal Code: 19899 |
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Phone: (561)968-6611 |
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== |
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A registration could not be found in New Jersey. |
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MANAGERS / KEY PERSONNEL
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Mr. Hemen Patel, Co- |
President |
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Mr. Laurent Flores, Co- |
President |
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Owners
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Mr. Hemen Patel |
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50.00% |
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Shareholder |
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Mr. Laurent Flores |
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50.00% |
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Shareholder |
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AFFILIATED COMPANIES
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CRM Metrix Inc. (USA) |
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The Company has affilates in India which were not provided. |
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BANKS
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Wachovia Bank |
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Address: |
114 Main Avenue |
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City: |
Clifton |
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State/Province: |
NJ |
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Zip Code: |
07011 |
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Country: |
UNITED STATES |
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Telephone: |
973 790-2469 |
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Facsimile: |
973 473-7793 |
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The Bank requires an account number and a signed authorization which
cobtained from management. |
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PAYMENT HISTORY
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The Company is not a seeker of local trade credit and as such a significant |
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payment record could not be developed. |
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FINANCIAL INFORMATION
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In K |
USD |
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Year-End (D/M/Y) |
31/12/2007 |
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Income Statement |
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Global Net Sales |
325 |
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FINANCIAL INDICATORS
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Mr. Patel stated annual sales for the fiscal year ended in December |
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2007 to be U.S $325,000. He was forwarded a fax requesting additional |
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financial information. Currently we have not received a response. |
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CURRENT OPERATIONS
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SIC Code: |
7372 |
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NAICS Code: |
334611 |
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Software Reproducing |
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Number of Employees: |
2 |
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Business Activity: |
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The Subject is a software development solution firm. |
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The firm provides software development solution to other Companies
outside the |
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United States, mainly in India. It also acts as a holding company for
a group of |
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companies in India. |
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The heading address is the Company's sole location; it is the
residence for Mr. |
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Patel which is used as the principal office for the Subject. |
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TRADE REFERENCES
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Array Software Systems Pvt Ltd. |
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Address: Mumbai,
India
Amount
Outstanding: -
Telephone:
Amount Past Due: -
Facsimile:
High Credit
Utilized: -
Contact:
Terms:
Credit Limit: -
Days to Pay:
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We do not contact companies outside the U.S, Caribbean or Canada. |
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PUBLIC RECORD
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A search of public shows no suits, judgments or liens filed against the |
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subject. We also conducted a nationwide search with bankruptcy courts, which |
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have revealed no record of a firm by this name filing for bankruptcy. |
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COMMENTS |
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The subject is engaged as a software developer, registered in 2003. No payment |
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records were found and a search of public records and bankruptcy courts revealed |
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no derogatory information or record of the Company filing a bankruptcy petition. |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)