MIRA INFORM REPORT

Report Date :

05.04.2011

IDENTIFICATION DETAILS

Name :	DIAMOND REEF INC (DIAMOND REEF)

Registered Office :	611 Wilshire Blvd #1105, Los Angeles California 90017

Country :	United States

Date of Incorporation :	09.07.2004

Legal Form :	Corporation for Profit

Line of Business :	Wholesaler of diamonds.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

Payment Behaviour :	Regular

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

United States

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION
Legal Name:	Diamond Reef Inc (Diamond Reef)
Trade Name:	Diamond Reef
Legal Address	611 Wilshire Blvd #1105, Los Angeles California 90017, USA

Telephone:	+1 (213) 239-9696	ID :	C2626880
Fax:	NA	Legal Form:	Corporation for Profit
Email:	ankoor103@hotmail.com	Registered in:	California
Website:	http://diamondreefinc.com/	Date Created:	2004
Manager:	Ankoor Shah, President	Date Incorporated:	July 09, 2004
Staff:	1	Stock:	NA
		Value:	NA
Activity:	Wholesaler of diamonds.

BANKS
Name of the Bank	BANK OF AMERICA

Name of the Bank	WELLS FARGO BANK

BUSINESS
HISTORY
	The company was created in the year 2004.
PRINCIPAL ACTIVITY
	This is a privately held company located in New York, and it is an importer and provider of diamonds and jewelry throughout the U.S. and overseas.
Products/Services description:
	Rings Bracelets Earrings
Sales are:
	Wholesale
Clients:
	Various Industries
Suppliers:
	Roger International Venus Jewells JB Brothers
Operations area:
	National, International
The company imports from Asia
The company export to Worldwide
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at 611 Wilshire Boulevard # 1105, Los Angeles, CA 90017-2939 , USA
The property is:
	Owned
Branches:
	The company has no branches.

Shareholders - Manager - Related Companies
Shareholders Parent Company(ies):
	The company is privately held. The main share holder is Ankoor Shah.
Management:
	Ankoor Shah, President

Financials - COMMERCIAL TRENDS AND FORECAST
As a private company the subject does not publish any financial statements.
We have contacted Ankor Shah who provided us with the following data: The number indicated below is related to the company’s volume of transaction.
Currency	DATE
USD	2010
Turnover	3,000,000

Legal Fillings

There are no UCC** files listed with the Secretary of State of California.

There are no legal filings listed with the District Court.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

Rating

Local credit bureau gave a Very Good credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

Final Opinion:

This company has been incorporated for business for 6 years; it has a staff of 1 employee which makes it a small sized company.

The company’s profitability appears pretty encouraging.

The business is evolving in a pretty profitable sector.

There were no legal fillings found against the company or its legal representatives.

This is an impersonal structure which makes the business more at risk. To completely secure the credit line some guarantees may be coupled with the amount granted.

SUMMARY
FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	GOOD	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX
Person Interviewed
	MR. ANKOOR SHAH
Position
	President, Owner
Comments
	We have successfully contacted the company. Mr. Ankoor Shah provided us with useful information, such as email, import and export information, quantity of employees, Banks, suppliers, and volume of transaction.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.65
UK Pound	1	Rs.71.93
Euro	1	Rs.63.24

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	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
--	NB	New Business	--

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

GEOPOLITICS - UNITED STATES

IDENTIFICATION

BANKS

BUSINESS

Shareholders - Manager - Related Companies

Financials - COMMERCIAL TRENDS AND FORECAST

Rating

SUMMARY

APPENDIX

Unit