MIRA INFORM REPORT

 

 

 

Report Date :

31.10.2008

 

IDENTIFICATION DETAILS

 

Correct Name :

AMERICA'S COLLECTIBLES NETWORK INC.

 

 

Registered Office :

101 Kingston Pike, Suite 57, Knoxville, TN 37933

 

 

Country :

United States

 

 

Date of Incorporation :

14.09.1993

 

 

Legal Form :

For Profit Corporation

 

 

Line of Business :

Retailer of Fine Jewelry and Gemstones.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

                   

GEOPOLITICS

 

 

POLITICAL DATA

 

 

ECONOMIC DATA

FORM OF GOVERNMENT

 

ECONOMIC RISK

Federal

 


None

 

CURRENCY

 

BRANCH SITUATION

 

USD

 

Satisfying

 

 

IDENTIFICATION

 

 

Company Name:

 

America's Collectibles Network Inc. d/b/a Jewelry Television.

 

Address:

 

101 Kingston Pike, Suite 57, Knoxville, TN 37933,

U.S.A.

 

 

Phone:

 

Facsimile:

 

ID:

 

State:

 

Managers:

 

+ 1 865 692 6000/ 6077

 

+1 865-218-5049

 

0270163

 

Tennessee

 

Tim Matthews

President and Chief Executive Officer

 

Date founded:

 

 

09/14/1993
 

For Profit Corporation

 

NA

 

NA

 

2 900 employees

Legal form:

Stock:

 

Value:

 

Staff:

Business: 

Retailer of fine jewelry and gemstones.

 

 

BANKS

 

STATE BANK OF INDIA SEEPZ ANDHERI (E) BR

 

 

BUSINESS

 

Operations:

 

Jewelry Television is an online shop for the retail of fine jewelry and gemstones.

In 2007, it shipped 5.5 million packages to its customers.

 

Its products are:

·         Anklet

·         Bracelets

·         Chains

·         Charm

·         Earrings

·         Enhancer

·         …

·         And also books, DVDs, and all the related articles.

 

 

Way of payments:

 

 

SHAREHOLDERS – SUBSIDIARIES – MANAGERS

 

The directors of the company are:

 

Tim Matthews

President and Chief Executive Officer

 

F. Robert Hall

Chief Executive Officer and Chairman of the Board

 

William C. Kouns

President

 

Gerald D. Sisk, Jr., G.G.

Executive Vice President

 

Charles A. Wagner, III

General Counsel and Vice Chairman

 

Crawford Wagner

Chief Financial Officer

 

It is a private held company.

 

 

FINANCIALS – COMMERCIAL TRENDS AND FORECAST

 

Subject is a privately-held Corporation and as such is not required to disclose financial information.

 

Sales for 2007 are estimated to 507.3 million USD.

 

 

Fiscal Year

 

 

2007

Turnover  in USD

507 .3 M

Gross profit in USD

19.7 M

Net income in USD

16.8 M

Liabilities  in USD

45 M

Current assets in USD

201 M

Fixed assets in USD

44 M

 

RATING

 

Local credit bureau gave a correct credit rate.

 

The Company is in “good standing”.

This means that all local and federal taxes were paid on due date.

 

-        The cash flow is large.

 

-        Payments are made on a regular basis.

 

 

Our final opinion

 

The company is not a large active seeker of open-term credit and generally pays vendors as per agreed terms.

 

The company has a clear and positive legal record.

 

A Credit line may be considered.

 

SUMMARY

 

 

FINANCIAL SUMMARY

 

 

DEBT COLLECTIONS AND PAYMENTS

PROFITABILITY

 

INDEBTNESS

 

CASH

 

Large

 

Controlled

 

Excellent

PUBLIC

 

PAYMENTS

 

 

See Details Above

 

As Agreed

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.25

UK Pound

1

Rs.80.36

Euro

1

Rs.62.84

 

 

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