MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
RARE JEWELS, INC. |
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Registered Office : |
69 Middlesex Avenue,
Suite 5, Iselin, NJ 08830 |
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Country : |
United States |
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Date of Incorporation : |
04.05.2004 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Retail Jewel Store. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company name
RARE JEWELS, INC.
Address
69 Middlesex Avenue, Suite 5, Iselin, NJ 08830 – USA
Telephone : 732-283-5878
Fax :
--
Website : --
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
0100925409 New Jersey Corporation – Profit May 4, 2004 2,000 shares common No par value Hiren PATEL |
ACTIVITIES
& OPERATIONS
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Business Staff: |
This is a retail jewel
store. 2 |
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Operations & branches: |
At above address, we find
a small store, on lease. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
- Hiren PATEL - Rajnikant PATEL They live together 3111 Green Hollow Drive, Iselin, NJ 08830 They are employed with the Company. |
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Management : |
Hiren PATEL is the
President and CEO. As far as we know, they
are 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.
We sent a fax but no answer
was received.
However, sales estimate for
year 2007 is in the range of USD 120,000=
Banks
Provident Bank
Iselin, NJ
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 of New Jersey,
during the year 2007:
- 6880% of the corporations
in same branch were developing the business on a low risk of late payment,
- 4%, on a medium risk, and
- 24% on a high risk of
late payment.
- 60% of them saw sales
stable versus last 3 years
- 4% declining
- 30% growing
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
stable.
COMPANY
CREDIT HISTORY
According to our credit analysts, during the last 6 months, 86% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of 10 to 15 days
beyond terms.
The cash is low, due to
high inventories and the stability of the market.
The bank and financial
institutions confirmed a small account and delays of payment.
The risk is medium.
Our opinion:
A business connection may
be conducted but we suggest you to check regularly the way of payments.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.34 |
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UK Pound |
1 |
Rs.83.96 |
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Euro |
1 |
Rs.65.82 |
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%)