MIRA
INFORM REPORT
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Report Date : |
24.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
CBAY SYSTEMS AND SERVICES INC. |
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Registered Office : |
2661 Riva Road, Suite
800, Annapolis, MD 21401 |
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Country : |
United States |
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Date of Incorporation : |
11.23.2005 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Provides Transcription and Document Management Solutions |
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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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company name
CBAY SYSTEMS AND SERVICES INC.
Address
2661 Riva Road, Suite 800, Annapolis, MD 21401 – USA
Telephone : 410-266-3313
Fax : 410-266-5475
Website : www.cbaysystems.com
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock Value: Name of manager: |
4065993 Delaware Corporation – Profit 11-23-2005 10,000,000 shares common
at USD 0.01 par value 2,000,000 shares preferred at USD 0.01 par
value Venu Raman KUMAR |
ACTIVITIES
& OPERATIONS
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Business Staff: |
CBay Systems provides transcription and document management solutions
to integrated health delivery networks, hospitals, academic institutions,
clinics and physician practices. Offering full outsource, overflow and
backlog services, CBay's end-to-end solutions leverage leading Internet
technologies and the world’s most highly credentialed transcriptionists to
provide easier, more secure, accurate and cost-effective medical transcription. 150 |
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Operations & branches: |
At above address, we find
the corporate office, on lease. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
CBAY SYSTEMS LTD 2661 Riva Road, Suite
800, Annapolis, MD 21401 |
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Management : |
Venu Raman KUMAR is the
Chairman and CEO of CBAY SYSTEMS AND SERVICES INC. and its parent company. |
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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 4,000,000=
The business is said to be
profitable.
Banks
K Bank
11407 Cronhill Drive, Suite N, Owings Mills, MD 21117
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) : |
There are 4 UCC files listed
with the Secretary of State in favour of: - K BANK (2) - Wells Fargo Financial
Leasing, Inc. - Co Active Capital
Partners |
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 banks and financial
institutions confirmed a correct credit history.
The risk is low.
However, we suggest you a
report on the parent company.
Our opinion:
A business connection may
be conducted.
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CREDIT REQUIRED |
MAXIMUM CREDIT |
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Maximum |
USD 100,000= |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.83 |
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UK Pound |
1 |
Rs.84.90 |
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Euro |
1 |
Rs.67.26 |
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%)