MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIAMOND CONCEPTS, INC. |
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Registered Office : |
550 South Hill Street,
Suite 978, Los Angeles, CA 90013 |
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Country : |
United States |
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Date of Incorporation : |
05.21.2001 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer, Wholesaler and
Distributor of Diamonds and Precious Stones. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company name
DIAMOND CONCEPTS, INC.
Address
550 South Hill Street, Suite 978, Los Angeles, CA
90013 – USA
Telephone : 213-623-6520
Fax : 213-623-6521
Website : www.diamondconcepts.net
summary
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Corporate
ID# : State : Judicial
form : Date founded : Stock : Value: Name of manager: |
C2312833 California Corporation – Profit 05-21-2001 - - Milan A. PAREKH |
ACTIVITIES
& OPERATIONS
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Business Staff: |
The Company is importer and
wholesaler distributor of diamonds and precious stones. 5 |
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Operations & branches: |
At above address, we find
a store and office, on lease. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
This is a family owned and managed company. |
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Management : |
Milan PAREKH is the
President and CEO. As far as we know, he is
not involved in other local business. |
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Subsidiaries & Partnership : |
None |
FINANCIALS
In United States, privately
held corporations are not required to publish any financials.
On a direct call, nobody
accepted to answer our questions.
However, sales estimate for
year 2007 is in the range of USD 1,000,000=
The business is profitable.
Banks
First American Bank
LEGAL FILINGS
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Legal filings
& complaints : |
As of today date, there
is no legal filings pending with the District Courts. |
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Secured debts
summary (UCC) : |
File Number: 03-10460440 Date Filed: 04-11-2003 Lapse Date: 04-11-2013 Secured Party: FIRST AMERICAN BANK P.O. BOX 549,
ROSEMEAD, CA, USA 91770 |
MARKET
ANALYSIS & FORECAST
n the State of California,
during the year 2007:
- 72% of the corporations
in same branch were developing the business on a low risk of late payment,
- 24%, on a medium risk,
and
- 4% on a high risk of late payment.
- 24% of them saw sales
stable versus last 3 years
- 76% declining
A high percentage of late payment
may indicate that companies in this industry are experiencing cash flow
problems, that suppliers generally accept late payment as part of doing
business, or that on-time payment is not customary in this industry.
Companies entering such
markets should not expect to be paid on time.
The market appears to be
slow.
COMPANY
CREDIT HISTORY
According to our credit analysts, during the last 6 months, 93% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of 2 to 5 days
beyond terms.
The Company maintains a
regular business.
The bank and financial
institutions confirmed a regular account.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)