MIRA INFORM REPORT

 

 

Report Date :

28.05.2008

 

IDENTIFICATION DETAILS

 

Name :

SONNAX INDUSTRIES

 

 

Registered Office :

P O Box 440  Bellows Falls, VT 05101-0440

 

 

Country :

United States

 

 

Date of Incorporation :

01.07.1983

 

 

Com. Reg. No.:

837548449

 

 

Legal Form :

Private Limited  Company

 

 

Line of Business :

Auto and Home Supply Retail Stores

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Very Good

 

 

Payment Behaviour :

Slow by 2 days

 

 

Litigation :

Clear

 

 

 

 

 

 

Company Information

 

 

SONNAX INDUSTRIES
PO BOX 440
BELLOWS FALLS, VT 05101-0440
(802) 463-9722

Business Identification Number:

837548449

File Established:

12/1987

Date of Incorporation:

01/07/1983

SIC code: 

AUTO & HOME SUPPLY RETAIL STORES - 5531

 

Matching Name and Address

 

 

This business is linked to the one displayed above. The report shows the best view of the business.

SONNAX INDUSTRIES
1 AUTOMATIC DR
BELLOWS FALLS, VT 05101-4000

 

Executive Summary

 

 

  Intelliscore for SONNAX INDUSTRIES

 

 

86.42

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


LOW RISK
99% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF RECENTLY ACTIVE ACCOUNTS

NUMBER OF GOOD ACCOUNTS

NUMBER OF CURRENT ACCOUNTS

SMALL, IF ANY, RATIO OF BAD ACCOUNTS TO TOTAL ACCOUNTS



  Current DBT range compared to all industries*

2 DBT
($9,900 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 7 DBT

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections:

0

Sum of legal filings:

$0

UCC filings:

0

Cautionary UCC filings present?

No



Trade Information

Monthly average DBT:

1

Highest DBT previous 6 months:

3

Highest DBT previous 5 quarters:

4

Total continuous trades:

14

Current continuous trade balance:

$9,900

Trade balance of all trades (29):

$24,800

Average balance previous 5 quarters:

$8,880

Highest credit amount extended: details

$82,600

6 month balance range:

$5,800 - $14,100

* 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+

60

30

 


0

 


2

 


0

 


3

 


0

 


1

 


2

 

0

Sep07

Oct07

Nov07

Dec07

Jan08

Feb08

Current

                                                 

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


3

 


4

 


1

 


2

 


1

 

0

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

1Q08

 


Performance Analysis

 

Predicted DBT for 06/04/2008: 2 DBT

Payment Trend Indication:
Show No Identifiable Trend

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

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

 

 

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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

02/2008

01/2008

 

 

$700

$300

100%

 

 

 

 

CUST 25 YR

 AIR TRANS

02/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 16 YR

+AUTO ACCES

12/2007

12/2007

NET30

 

$1,600

$200

100%

 

 

 

 

CUST 18 YR

+BUS SERVCS

03/2008

 

NET 7

 

$2,000

$1,200

100%

 

 

 

 

 

 COMPUTERS

03/2008

01/2008

CREDIT

 

$9,200

$0

 

 

 

 

 

 

 FACTOR

03/2008

11/2005

NET 30

 

 

$0

 

 

 

 

 

CUST 3 YR

+FINCL SVCS

04/2008

02/2008

NET 30

 

$200

$100

100%

 

 

 

 

 

 FINCL SVCS

03/2008

09/2005

NET

 

$500

$0

 

 

 

 

 

 

+FREIGHT

03/2008

02/2008

VARIED

 

$6,100

$200

100%

 

 

 

 

 

+IRON&STEEL

03/2008

 

NET 30

 

$82,600

$5,600

94%

6%

 

 

 

 

 MACH DISTR

01/2008

06/2005

1/10N30

 

 

$0

 

 

 

 

 

CUST 6 YR

 OFFC SUPPL

03/2008

11/2003

CREDIT

 

 

$0

 

 

 

 

 

 

=PACKAGING

03/2008

 

NET 30

 

$4,000

$1,700

34%

66%

 

 

 

CUST 17 YR

+SAFTY PROD

03/2008

 

NET30

 

$600

$600

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

14

 

 

$107,500

$9,900

85%

15%

 

 

 

DBT: 2

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

14

 

 

$107,500

$9,900

85%

15%

 

 

 

DBT: 2

 

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

=AUTO LEASE

03/2008

03/2008

VARIED

 

$27,300

$4,700

100%

 

 

 

 

SATSFTRY

 BUS SERVCS

10/2006

10/2006

NET 30

 

 

$0

 

 

 

 

 

 

 COMPUTERS

05/2005

 

CREDIT

 

 

$0

 

 

 

 

 

CUST 37 YR

 FACTOR

07/2007

 

NET 30

 

 

$0

 

 

 

 

 

 

 FINCL SVCS

06/2007

 

VARIED

 

$38,100

$0

 

 

 

 

 

ACCTCLOSED

=FRGHT FWRD

01/2006

 

NET 15

 

$300

$300

 

100%

 

 

 

 

 GENERAL

12/2005

11/2005

OTHER

 

+$200,000

$0

 

 

 

 

 

CUST 15 YR

+LEASING

02/2008

 

CONTRCT

 

$2,100

$2,100

100%

 

 

 

 

 

 LEASING

04/2006

 

CONTRCT

 

$10,100

$0

 

 

 

 

 

CUST 2 YR

+OFFC EQUIP

06/2006

05/2006

NET 30

 

$11,300

<$100

 

100%

 

 

 

CUST 8 YR

+OFFC SUPPL

06/2007

06/2007

NET

 

$9,600

$7,400

100%

 

 

 

 

CUST 11 YR

+OFFC SUPPL

08/2006

07/2006

NET 30

 

$100

$100

100%

 

 

 

 

CUST 22 YR

+SAFTY PROD

11/2007

10/2007

NET 30

 

$300

$100

100%

 

 

 

 

CUST 8 YR

+TELECOM

07/2005

 

NET 30

 

<$100

<$100

100%

 

 

 

 

 

 TRUCK DLR

07/2007

 

CONTRCT

 

$2,700

$0

 

 

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
AUTO & HOME SUPPLY RETAIL STORES INDUSTRY SIC: 5531

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

2

$9,900

 

85%

15%

 

 

 

FEB08

83%

7

1

$12,100

 

93%

7%

 

 

 

JAN08

82%

7

0

$5,800

 

100%

 

 

 

 

DEC07

81%

8

3

$8,200

 

82%

18%

 

 

 

NOV07

81%

8

0

$9,900

 

100%

 

 

 

 

OCT07

82%

9

2

$5,800

 

85%

15%

 

 

 

SEP07

82%

9

0

$14,100

 

99%

1%

 

 

 

 

Quarterly Payment Trends

 

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q1 - 08

JAN-MAR

1

$9,300

 

92%

8%

 

 

 

Q4 - 07

OCT-DEC

2

$8,000

 

90%

10%

 

 

 

Q3 - 07

JUL-SEP

1

$11,500

 

95%

5%

 

 

 

Q2 - 07

APR-JUN

4

$9,100

 

81%

16%

2%

 

1%

Q1 - 07

JAN-MAR

3

$6,500

 

85%

12%

3%

 

 

 

Commercial Finance Relationships

 

 

  Banking Relationships

 

Financial Institution: CITIZENS SAVINGS BANK

Address: 1 CITIZENS PLAZA PROVIDENCE RI02903

Phone: (401) 456-7000

Account Type: BORROWER

Date Opened: 06/30/2005

Account Rating: NO COMMENT AS OF 09/29/2006

Account Balance: MID SEVEN FIGURES


Financial Institution: CITIZENS SAVINGS BANK

Address: 1 CITIZENS PLAZA PROVIDENCE RI02903

Phone: (401) 456-7000

Account Type: BORROWER

Date Opened: 06/30/2005

Account Rating: NO COMMENT AS OF 09/29/2006


Financial Institution: CITIZENS SAVINGS BANK

Address: 1 CITIZENS PLAZA PROVIDENCE RI02903

Phone: (401) 456-7000

Account Type: BORROWER

Date Opened: 09/28/2005

Account Rating: NO COMMENT AS OF 09/29/2006


Financial Institution: CITIZENS SAVINGS BANK

Address: 1 CITIZENS PLAZA PROVIDENCE RI02903

Phone: (401) 456-7000

Account Type: BORROWER

Date Opened: 06/30/2005

Account Rating: NO COMMENT AS OF 09/29/2006


Financial Institution: CITIZENS SAVINGS BANK

Address: 1 CITIZENS PLAZA PROVIDENCE RI02903

Phone: (401) 456-7000

Account Type: BORROWER

Date Opened: 07/06/2006

Account Rating: NO COMMENT AS OF 09/29/2006

Account Balance: LOW SEVEN FIGURES

Company Background Information

 

 

  Corporate Registration

 

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF VERMONT

State of Origin: VT

Date of Incorporation: 01/07/1983

Current Status: Active


Business Type: Institutions - Profit

Charter Number: V-31428-0


Agent: TOMMY A HARMON JR

Agent Address: PO BOX 440 BELLOWS FALLS, VT

 

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  Additional Company Background Information

 

 

Key Personnel

Principal(s): 

TOMMY HARMON, CHIEF OPER

 

MICHAEL BALAMUTH, MIS MANAGE

 

ARNO BUTTER, MIS MANAGE


Operating Information

Business Type: Institutions


Primary SIC Code: AUTO & HOME SUPPLY RETAIL STORES - 5531

Secondary SIC Code: MOTOR VEHICLE PARTS & ACCESSORIES - 3714


Number of Employees: 7

 

 

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