MIRA INFORM REPORT

 

 

Report Date :

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SPIRIT PHARMACEUTICALS LLC

 

 

Registered Office :

409 Blue Heron Pt,  Suffolk , Va  23435

 

 

Country :

United States

 

 

Date of Incorporation :

17.04.2003

 

 

Com. Reg. No.:

S095846

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale pharmaceutical products

 

 

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

 

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 31st, 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: High

Currency: USD

Branch Situation: Growing

 

 

IDENTIFICATION

 

Comments on data supplied:

The address provided by the client is for a branch.

 

The legal and operative locations are listed below.

Legal Name:

SPIRIT PHARMACEUTICALS LLC

 

 

Legal Address

409 BLUE HERON PT, 

SUFFOLK , VA  23435, USA (Registered Agent)

Operative Address

1919 Middle Country Road, Suite 206

Centereach, NY 11720, USA

Telephone:

+ 1 (215) 943-4000

Registration Number :

.S095846

Fax:

NA

Legal Form:

Limited Liability Company

Email:

arun@spiritpharma.com

Registered in:

VA

Website:

http://www.spiritpharma.com

Date Created:

2003

Manager:

Arun Heble  President

Date Incorporated:

April  17, 2003

Staff:

4

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Wholesale pharmaceutical products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKS

 

Name of the Bank

Bank of America

 

 

 

 

 

 

 

 

 

 

 

 

 

BUSINESS

 

HISTORY

 

The company was created in 2003, and incorporated in Virgina.USA

PRINCIPAL ACTIVITY

 

The company is a wholesaler of  pharmaceutical products.

 

The business is provider of OTC/generic products along with API’s. (active pharmaceutical ingredient).

 

The company is GMP certified.

 

The business has recently expanded their product line to include tablets, caplets, softgels and APIs.

 

It has a few years of experience in the industry.

 

 

Products/Services description:

 

Analgesics

Laxitive

Sleep aid

Cough/cold & allergy

Nutritional supplement

Sales are:

 

Wholesale

Operations area:

 

National

Trade References:

 

Despite our long efforts we were unable to confirm any trade reference.

The subject employs 4 employee(s)

PAYMENTS

 

regular

Comments on location:

 

Spirit Pharmaceuticals, LLC is

Headquartered at:

1919 Middle Country Road, Suite 206

Centereach, NY 11720, USA

 

It also has locations in:

225 Lincoln Highway, Suite 179

Fairless Hills, PA 19030, USA

 

And a distribution Center

85 Jetson Ln

Central Islip, NY 11722, USA

 

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

We were unable to confirm the shareholders.

Management:

 

Ajoy Joshi

PRESIDENT

 

Arun Heble

CEO

 

Nayan Suthar

VP GLOBAL SALES & MARKETING

 

Neil Patel

DIR OF REGULATORY COMPLIANCE

 

Anand Krishnan

CFO

           

Kunjal Joshi

GLOBAL OPERATION & SUPPLY CHAIN MANAGER

 

 

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

 $5,000,000-10,000,000

 

 

 

Legal Fillings

 There are 4 recent UCC** files listed with the Secretary of State of Virginia.

 

Filing Number:  11052439294

Filing Date:  05-24-2011

Secured Party:  BIBBY FINANCIAL SERVICES(MIDWEST), INC.

Debtor:  SPIRIT PHARMACEUTICALS

 

 

 

Filing Number:  11052540566

Filing Date:  05-25-2011

Secured Party:  PRESTIGE CAPITAL CORPORATION

Debtor:  SPIRIT PHARMACEUTICALS LLC

 

 

Filing Number:  1104228133666

Filing Date:  04-22-2011

Secured Party:  GRACIE CAPITAL HOLDINGS CORP.

Debtor:  SPIRIT PHARMACEUTICALS, LLC

 

 

Filing Number:  2011042203435

Filing Date:  04-22-2011

Secured Party:  GRACIE CAPITAL HOLDINGS CORP.

Secured Party Address:  15 GRACIE CT

Debtor:  SPIRIT PHARMACEUTICALS, 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

 

Spirit Pharmaceuticals LLC  is a small company with 4 employees , and 8 years in the business

 

This company works as wholesalers of pharmaceutical products.

 

The turnover is pretty encouraging for the company size.

 

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

 

We have to remember that the business is a limited company.

 

Its failure can consequently not affect the owner’s personal assets.

 




SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public Records

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Comments

 

The person contacted did not provide information in grounds of confidentiality.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.24

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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.