MIRA INFORM REPORT
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Report Date : |
04.08.2011 |
IDENTIFICATION DETAILS
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Name : |
DIAMOND HOUSE INC |
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Registered Office : |
585 Fifth Avenue Suite 1107, New York, Ny 10017 |
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Country : |
United States |
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Date of Incorporation : |
04.08.1998 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewelry, Watch, Precious Stone, and Precious Metal Merchant
Wholesalers |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Comments on the rating: We suggest caution
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Diamond House Inc |
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Address in the order: |
589 Fifth Avenue Suite 1107 New York NY 10017 |
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Comments on data supplied: |
The company’s legal address is listed
below. The staff was unwilling to confirm any information. |
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Legal Name: |
DIAMOND HOUSE INC |
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Legal Address |
585 FIFTH AVENUE SUITE 1107, NEW YORK, NY
10017, USA |
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Telephone: |
(212) 944 - 7610 |
Corporate ID : |
2285467 |
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Fax: |
(212) 944 - 7610 |
Legal Form: |
Corporation for Profit |
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Email: |
NA |
Registered in: |
New York |
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Website: |
NA |
Date Created: |
NA |
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Manager: |
Naman Shah, President |
Date Incorporated: |
AUGUST 04, 1998 |
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Staff: |
7 (previously listed) |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Jewelry, Watch, Precious Stone, and
Precious Metal Merchant Wholesalers. |
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BANKS
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Name of the Bank |
HSBC |
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Name of the Bank |
JPMORGAN CHASE BANK |
BUSINESS
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HISTORY |
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This is a private company that has been incorporated in New York since
1998. |
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PRINCIPAL ACTIVITY |
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The company is a jewelry store, specialized in the wholesale of
diamonds.’ |
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Products/Services description: |
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Diamonds Jewelry |
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Sales are: |
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Wholesale |
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Operations area: |
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National |
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Trade References: |
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Despite our efforts we were not able to confirm trade reference for
this company. |
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The subject employs 7 employee(s) |
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PAYMENTS |
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To be monitored |
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LOCATION |
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Headquarters |
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The company is headquartered in: 586 FIFTH AVENUE SUITE 1107, NEW YORK, NY 10017, USA |
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Comments on location: |
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We found another location listed with the company’s name: Diamond House, Inc 2 W 46th Street New York, NY 10036-4502, USA (212) 944-7610 When we called the number the
staff indicated not being Diamond House, Inc and hang up. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a private company. Naman Shah is the owner and major
shareholder. |
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Management: |
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Naman Shah, President. Sanjeev Jain, Manager. |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the company; however the person interviewed refused
to provide us any financial data. |
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However our financial sources could provide us with the following data: The 2010 financials was neither revealed or released. |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
150,000 |
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The cash flow is |
Normal |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
188,000 |
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Operating Income |
10,000 |
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Net Income |
4,000 |
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Net worth |
20,000 |
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Liabilities |
15,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are 3 recent UCC files listed with the
Secretary of State of New York. Filing Number: 100009381122 Filing Date: 08-03-2010 Secured Party: DIAMOND HOUSE INC. Debtor:
KESSLERS DIAMOND CENTER, INC. Filing Number: 20092091910 Filing Date: 11-03-2009 Secured Party: DIAMOND HOUSE INC. Debtor:
SHANE CO. Filing Number: 2009 2623681 Filing Date: 08-14-2009 Secured Party: DIAMOND HOUSE, INC. Debtor:
ROBBINS BROS. JEWELRY, INC. There are no legal filings listed with the
District Court. For information: 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
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Local credit bureau gave a low credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final Opinion |
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This is a small sized US company. We suggest monitoring for the length of
payment. The staff did not appear confident during the
attempt of interview and were even acting in a suspicious way. At this time we estimate that the company
does not present the requirement to bear a credit line without guarantees. Strict caution must be applied. |
SUMMARY
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Profitability |
LOW |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
MEDIUM |
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APPENDIX
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Comments |
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The staff was uncooperative. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.38 |
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UK Pound |
1 |
Rs.72.21 |
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Euro |
1 |
Rs.62.87 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.