MIRA INFORM REPORT
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Report Date : |
06.08.2011 |
IDENTIFICATION DETAILS
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Name : |
R. & R. GROSBARD, INC. |
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Registered Office : |
1185 Avenue Of The Americas Fl 20, New York Ny
10036 |
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Country : |
United States |
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Date of Incorporation : |
18.02.1998 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
supplier and Manufacturers of Jewelry, and Precious Metal |
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:
A Credit line maybe considered
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: |
R & R Groshard Inc |
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Address in the order: |
1185 Avenue of America 20th Floor New York |
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Comments on data supplied: |
The correct name is R. & R. GROSBARD,
INC. Also the address given by the client is the
old addres, the currect addres is listed below. |
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Legal Name: |
R. & R. GROSBARD, INC. |
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Trade Name: |
Grosbard & Grosbard |
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Legal Address |
1185 AVENUE OF THE AMERICAS FL 20 NEW YORK
NY 10036 |
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Operative Address |
1156 Avenue of The Americas Suite 720 New York, NY 10036 USA |
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Telephone: |
(212)575-0077, |
Corporate Number : |
2230000 |
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Fax: |
(212)840-3765 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
New York |
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Website: |
Date Created: |
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Manager: |
Richard Grosbard owner |
Date Incorporated: |
February,18,1998 |
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Staff: |
20-49
(Est.) |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Operates as a supplier and
Mufacturers of Jewelry,and Precious Metal |
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BANKS
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Name of the Bank |
Bank of America |
BUSINESS
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HISTORY |
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Grosbard & Grosbard in New York, NY is a private company located
in New York and incorporated in 1998. |
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PRINCIPAL ACTIVITY |
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Supplier of many private label diamond cuts. Consultation creation and marketing of successful jewelry programs. Jewelry designe. |
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Products/Services description: |
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Diamonds Rings |
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Sales are: |
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Wholesale, Retail |
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Brands: |
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DIAMOND BOUQUETS trademark |
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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 unable to confirm any trade reference. |
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The subject employs 20 -49 (Estimated) 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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1156 Avenue of The Americas Suite 720 New York |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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ROBERT GROSBARD,main
Shareholder RICHARD GROSBARD, |
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Management: |
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ROBERT GROSBARD CHAIRMAN OF THE
BOARD RICHARD GROSBARD MEMBER GRENDY RAYMONDS FINANCE CONTROL |
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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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. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
$2.5 to 5 million (estimated) |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
7,900,000 |
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Operating Income |
128,000 |
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Net Income |
85,000 |
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Net worth |
3,600,000 |
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Liabilities |
280,000 |
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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 |
9,500,000 |
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The cash flow is |
Normal |
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Currency |
DATE |
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USD |
2007 |
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Turnover |
9,300,000 |
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Operating Income |
1,500,000 |
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Net Income |
1,000,000 |
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Net worth |
3,000,000 |
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Liabilities |
400,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are several UCC** files listed with the
Secretary of State of New York. Filing Number: 09102172357 Filing Date: 10-21-2009 Secured Party: R.& R. GROSBARD, INC. Debtor:
LEMONS\\' JEWELRY, INC. Filing Number: 2009 1529004 Filing Date: 05-14-2009 Secured Party: R. & R. GROSBARD, INC. Debtor:
ROBBINS BROS. JEWELRY, INC. Filing Number: 2090001965479 Filing Date: 04-07-2009 Secured Party: R & R GROSBARD, INC Debtor:
H E. MURDOCK COMPANY, INC Filing Number: 9909592586-0 Filing Date: 04-07-2009 Secured Party: R. & R. GROSBARD, INC. Debtor:
BRODKEY BROTHERS, INC. 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
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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. |
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Final Opinion |
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R. & R. GROSBARD, INC. is a small sized
US Company as it currently has a staff of 20-49 (estimated) employees. It was
incorporated for business in 1998. Therefore, it has more than 12 years of
experience. It works as Manufacturers of Jewelries in
New York. There were no legal filings found against
the company or its legal representatives. We notice a drop in the company's
income (comparing to 2009)even if it
remains correct for the company's size. Therefore we suggest a strict monitoring
within 6 months to check the company’s financial evolution. |
SUMMARY
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Profitability |
NA |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
NORMAL |
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APPENDIX
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Comments |
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The person contacted confirmed the new address, but did not provide
further financial information in grounds of confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.80 |
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UK Pound |
1 |
Rs.72.86 |
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Euro |
1 |
Rs.63.11 |
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.