MIRA INFORM REPORT

Report Date :

11.08.2011

IDENTIFICATION DETAILS

Name :	TOV MANUFACTURING INC.
Registered Office :	37 W 47th St #1301 New York, New York 10036
Country :	United States
Year of Establishment :	1985
Legal Form :	Corporation for Profit
Line of Business :	Manufacturer of precious metal jewelry apparel

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	Unknown
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

GEOPOLITICS - UNITED STATES
POLITICAL DATA	ECONOMIC DATA
Form of Government: Federal Economic Risk: Nil	Currency: USD Branch Situation: Stable

IDENTIFICATION
Legal Name:	TOV MANUFACTURING INC.
Legal Address	37 W 47TH ST #1301 NEW YORK, NEW YORK 10036, USA
Telephone:	+ 1 (212) 997-4054	Corporate ID :	2772572
Fax:	+ 1 (212) 997-2392	Legal Form:	Corporation for Profit
Email:	sales@tovmfg.com	Registered in:	New York
Website:	http://tovmfg.com	Date Created:	1985
Manager:	David Borohov Chairman of Board	Date Incorporated:	MAY 30, 2002
Staff:	1-5 employees (Est.)	Stock:	NA
		Value:	NA
Activity:	Manufacturer of precious metal jewelry apparel

BANKS
Name of the Bank	HSBC BANK USA
BUSINESS
HISTORY
	The company was created 1985 and incorporated in New York in 2002.
PRINCIPAL ACTIVITY
	The company is manufacturer of jewelry and silver. Tov Manufacturing produces white and yellow, 10K, 14K And 18K gold. TOV Manufacturing Works directly with big site holders. They have first hand prices therefore they can retrieve any quantity of diamonds. The company’s production is made between the United States, and China This is an established structure.
Products/Services description:
	Rings Earrings Bracelets Pendants Necklaces Watches Diamonds
Sales are:
	Retail
Operations area:
	National, International
The company imports from China
Trade References:
	Despite our efforts we were unable to confirm any trade reference, for this company
The subject employs 1-5 employee(s)
PAYMENTS
	To be monitored
Comments on location:
	Single location.

Shareholders - Manager - Related Companies
Shareholders Parent Company(ies):
	We were unable to confirm the company’s shareholder with the staff.
Management:
	DAVID BOROHOV Chief Executive Officer

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	Under 500,000.

Legal Fillings

There are no recent UCC** files listed with the Secretary of State of New York.

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 records 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 low 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 5 employees approximately. It was incorporated in New York, in 2002, therefore is has 9 years of operations. TOV MANUFACTURING INC work as a manufacturer of jewelry. We suggest monitoring for the company’s length of payment. The annual sales for this company are low for its size. Therefore we suggest guarantees. Also, we suggest a follow up within 6 months to check the company´s financial status.

SUMMARY
FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public	NO
Indebtedness	CONTROLLED	Payments	TO BE MONITORED
Cash	NORMAL

APPENDIX
Comments
	The person contacted confirmed the company’s location.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.20
UK Pound	1	Rs.73.51
Euro	1	Rs.64.76

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.