MIRA INFORM REPORT

Report Date :

02.08.2011

IDENTIFICATION DETAILS

Name :	INTERNATIONAL FOODSOURCE LLC
Registered Office :	31 Richboynton Rd Dover Nj 07801
Country :	United States
Date of Incorporation :	30.06.2004
Legal Form :	Limited Liability Company
Line of Business :	Natural Dehidrate Fruits.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 160,000.
Status :	Satisfactory
Payment Behaviour :	No Complaints
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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
United States	a1	a1

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

Bottom of Form

Comments on the rating:

A Credit line maybe considered

GEOPOLITICS- UNITED STATES

POLITICAL DATA		ECONOMIC DATA
Form of Government GOVERNMENT	Federal	Currency	USD
Economic Risk	Nil	Branch Situation	Stable

IDENTIFICATION

Ordered as:

International Foodsource LLC

Address in the order:

52 Richboynton Road, Dover, NJ 07801

Comments on data supplied:

The address given by the client is the main office address.

Legal Name:

International Foodsource LLC

Legal Address:

31 RICHBOYNTON RD DOVER NJ 07801
Operative Address:	52 Richboynton Rd Dover, New Jersey 07801 United States

Telephone:

(973) 361-7044

Corporate ID:

International Foodsource LLC

Fax:

NA

Legal Form:

Limited Liability Company

Email:

customerservice@intlfoosource.com

Registerd In:

New Jersey

Website:

www.intlfoodsource.com

Date Created:

Manager:

Dan Baron CEO

Date Incorporated

june 30, 2004

Staff:

90

Stock:

NA

Value:

NA

Activity:

Natural Dehidrate fruits.

BANKS

Name of the Bank	GREATER BAY BANK
Name of the Bank	VALLEY NATIONAL BANK

BUSINESS

HISTORY:
	The company was established in 2004 in Dover New Jersey.
PRINCIPAL ACTIVITY:
	Dehydrate fruit ant vegetables. Pre packing of snacks and nuts.
Products/Services description:
	Dried and Dehydrated Fruits, Vegetables, and Soup Mixes
Operations area:
	National,
Trade References :
	Despite our efforts we were unable to confirm any trade reference
The subject employs 90 employee(s)
Payments :
	regular
LOCATION :
Comments on location:
	Single location

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	David Lipson Dan Baron
Management:
	David Lipson President/Owner-Director of Operations Dan Baron CEO/Owner-Director of Purchasing and Sales

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

Those figures are estimates provided by confidential banking and financial institutions working with the company.

Currency	DATE
USD	2010
Turnover	15,000,000.

Currency	DATE
USD	2005
Turnover	3,000,000.

legal fillings

There are several recent UCC** files listed with the Secretary of State of New Jersey.

Filing Number: 24765114
Filing Date: 06-04-2008
Secured Party: ATLAS COPCO COMPRESSORS LLC
Debtor: INTERNATIONAL FOODSOURCE LLC


Filing Number: 24747141
Filing Date: 05-21-2008
Secured Party: GREATER BAY BANK N.A.
Debtor: INTERNATIONAL FOODSOURCE LLC



Filing Number: 24594653
Filing Date: 02-13-2008
Secured Party: NMHG FINANCIAL SERVICES, INC.
Debtor: INTERNATIONAL FOODSOURCE LLC

There are no legal filings listed with the District Court.

The last annual report was filed on 2010.

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 correct credit rate.

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

FINAL OPINION:

This is a small company with 90 employees, and 7 years of operations

We did not found any adverse situation during the investigation.

The turnover is good for the company size

Therefore we suggest a credit line for USD 160,000.

SUMMARY

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

APPENDIX
Comments:
	The person contacted confirmed the main office address.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.05
UK Pound	1	Rs.72.40
Euro	1	Rs.63.46

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%)

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