MIRA
INFORM REPORT
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Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
INNOVATIVE MARBLE AND TILE LLC. |
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Registered Office : |
130 Motor Pkwy Hauppauge, NY, 11788 |
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Country : |
United States |
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Date of Incorporation : |
12.26.2002 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributor of Ceramic
Wall and Floor Tile. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
1,000,000$ |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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Maximum |
1,000,000$ |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD 100 = 64 € Satisfying |
IDENTIFICATION
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Company Name: |
INNOVATIVE MARBLE AND TILE LLC. DBA INNOVATIVE
STONE |
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Address: |
130 MOTOR PKWY HAUPPAUGE, NY,
11788, USA |
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Phone: Facsimile: ID: State: Managers: |
(631) 273-4445 (631) 273-4761 2849583 New York KAREN PEARSE President |
Date founded: |
12/26/2002 Limited Liability Company N.A. N.A. 290 Employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Distributor of ceramic wall and floor tile. |
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BANKS
CITIBANK N A
SIGNATURE BANK
BUSINESS
The Company’s activity started in 1981 as Innovative Marble and Tile
Incorporated.
Operations:
At the above address, we find a warehouse, showroom and offices.
Business:
In addition to countertops, floor tile and wall tile, Innovative Stone
custom-designed solutions include fireplaces, furniture, tabletops and formal
garden sculptures.
The Company distributes in the USA and imports from Europe, South
America and Asia.
Way of payments:
Payments are made usually on 25 days net.
Branch payments trend:
In the North East America,
during the year 2006:
- 68% of the tile and
marble distributors were developing the business on a low risk of late payment,
- 24%, on a medium risk,
and
- 8% on a high risk of late payment.
- 4% of them saw sales stable versus last 3 years
- 96% declining
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
This is a privately owned
Company:
Karen Pearse in the Owner
and President
She’s also involved in:
INNOVATIVE MARBLE AND TILE
INC
Mark Pearse is Vice
President of the Company
Ciska Kruger is VP of Sales
Innovative Stone has a line
of products called Stonemark™ sold through Home Depot stores, the largest home
improvement Company in the USA.
The Company has operations
in New York, Brazil, China, India and Italy.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
The Company would not provide its balance sheets which it regards as
strictly confidential.
However our
financial sources provided us with the following figures.
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Sales for the year 2006 are
in the range of USD =$ 115 Million
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Fiscal Year |
12/31/2005 |
12/31/2006 |
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Turnover
in USD |
113,000,000. |
115 Million |
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Net
Results |
900,000 |
1 Million |
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Current
Debt/Liability |
21 Million. |
18 Million |
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Sales for the year 2007 are
about USD 120 Million.
There is 1 active UCC file
listed with the Secretary of State of New York.
1.
Debtor: INNOVATIVE MARBLE
& TILE LLC
Address: 130 MOTOR PARKWAY
HAUPPAUGE NY 11780
State: NY
Filing Location: NY - SECRETARY OF STATE
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Secured Party: NMHG FINANCIAL SERVICES INC
Address: 42 OLD RIDGEBURY ROAD
DANBURY CT 06810
Filing Type: FINANCING STATEMENT
Original Filing
Number: 0000000005918994
Original Filing Date: 11-02-2004
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2.
Debtor: INNOVATIVE MARBLE
& TILE LLC
Address: 130 MOTOR PARKWAY
HAUPPAUGE NY 11788
State: NY
Filing Location: NY - SECRETARY OF STATE
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Secured Party: CITIBANK N A
Address: 730 VETERANS MEMORIAL HIGHWAY
HAUPPAUGE NY 11788
Filing Type: FINANCING STATEMENT
Original Filing
Number: 0000000001308787
Original Filing Date: 12-22-2004
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3.
Debtor: INNOVATIVE MARBLE
& TILE LLC
Address: 130 MOTOR PARKWAY
NEW YORK NY 11788
State: NY
Filing Location: NY - SECRETARY OF STATE
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Secured Party: SIGNATURE BANK
Address: 565 FIFTH AVENUE
NEW YORK NY 10017
Filing Type: FINANCING STATEMENT
Original Filing
Number: 0000000001877708
Original Filing Date: 11-20-2003
Filing Type: FINANCING STATEMENT
Filing Number: 0000000001308294
Original Filing
Number: 0000000001877708
Filing Date: 12-22-2004
Original Filing Date: 11-20-2003
No legal filing listed with
the District Court.
RATING
Local credit bureau gave a medium credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
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The cash flow is good.
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Payments are made on a regular basis.
Our final opinion
This is a large Company working on a nationwide area.
We estimate that
the Company doesn't present any risk.
A credit line may
be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Sufficient Controlled Good |
PUBLIC PAYMENTS |
No Prompt |
ADVISED
CREDIT
1,000,000$
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%)