MIRA
INFORM REPORT
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Report Date : |
09.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARK FOODS, INC |
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Registered Office : |
20 West 22nd
Street, Suite 901, New York, NY 10010 |
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Country : |
United States |
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Date of Incorporation : |
11.09. 2002 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and Wholesaler
of Frozen Fish, Salmon, Lobsters, and much more. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company name
MARK FOODS, INC
Address
20 West 22nd Street, Suite 901, New York,
NY 10010 – USA
Telephone : 212-255-6048
Fax : 212-213-1048
Website : www.markfoods.com
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
3567569 Delaware Corporation – Profit September 11, 2002 1,500 shares common No par value Barry MARKMAM |
ACTIVITIES
& OPERATIONS
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Business Staff: |
The Company is importer
and wholesaler of frozen fish, salmon, lobsters, and much more. Suppliers include: SALMONE FRIOSUR S.A. Alcantara 200, 1002 Las
Condes Santiago – Chile COSTA NORTE COMERCIO DE PESCADOS Rua Curua, Belem, Brazil 10 |
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Operations & branches: |
At above address, we find
a small office, on lease. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
Barry MARKMAN is the owner. |
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Management : |
Barry MARKMAN 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, a salesperson
controlled the present report but was unable to confirm the amount of sales.
We sent a fax but no answer
was received.
A professional source gave
sales estimate for year 2007 is in excess of USD 50,000,000=
Banks
Bank of America
Citibank
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) : |
None |
MARKET
ANALYSIS & FORECAST
In the State, during the
year 2007:
- 88% of the corporations
in same branch were developing the business on a medium risk of late payment,
- 12% on a high risk of
late payment.
- 8% of them saw sales stable versus last 3 years
- 92% 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, 62% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of more than 30
days beyond terms.
During last months, the
delay of payment increased seriously.
The banks and financial
institutions confirmed numerous delays of payment.
The risk is high.
Our opinion:
We suggest you to be
careful.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.89 |
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UK Pound |
1 |
Rs.78.86 |
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Euro |
1 |
Rs.63.33 |
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%)