MIRA INFORM REPORT

Report Date :

03.12.2011

IDENTIFICATION DETAILS

Name :	PARASMANI INC
Registered Office :	27 Queen St E Suite 806 Toronto, ON M5C 2M6
Country :	Canada
Year of Establishment :	1998
Legal Form :	Corporation for Profit
LINE OF BUSINESS :	JEWELRY WHOLESALER
No. of Employees :	2

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Canada	A1	A1

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

GEOPOLITICS – CANADA
POLITICAL DATA	ECONOMIC DATA
Form of Government: Federal Economic Risk: Nil	Currency: USD Branch Situation:Stable

IDENTIFICATION
Legal Name:	Parasmani Inc
Legal Address	27 Queen St E Suite 806 Toronto, ON M5C 2M6, Canada (Not verified)
Telephone:	+1 (416) 368-2999	ID :	NA
Fax:	+1 (416) 368-2999	Legal Form:	Corporation for Profit
Email:	NA	Registered in:	Canada
Website:	NA	Date Created:	1998
Manager:	Paras Shah, President	Date Incorporated:	NA
Staff:	2	Stock:	NA
		Value:	NA
Activity:	Jewelry wholesaler

BUSINESS
PRINCIPAL ACTIVITY
	It would engage as a jewelry wholesaler
Products/Services description:
	Products may include: Diamonds, watches, necklaces, rings, etc.
Sales are:
	Wholesale
Clients:
	Professionals of the industry
Suppliers:
	We could not reach any representative from the company to get the suppliers' name.
Operations area:
	National, Local
The subject employs 2 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The comany would be headquartered at: 27 Queen St E Suite 806 Toronto, ON M5C 2M6, Canada
Branches:
	No branches have been found for this company.
Shareholders - Manager - Related Companies
Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. Mr. Paras Shah would be the main shareholder.
Management:
	Mr. Paras Shah - President
Financials - COMMERCIAL TRENDS AND FORECAST
As a private company the subject does not publish any financial statements.
We called the number you provided us, +1 (416) 586-0747 during business hours and nobody would answer our calls. We called this other telephone number as well +1 (416) 368-2999 which appears as related to the subject and got to a voicemail in which we left a message. It kept unanswered as of today.
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		290,000
The cash flow is		Normal

Legal Fillings
The sources consulted record no detrimental legal or labor court information.
Rating
Local credit bureau gave a Low credit rate.
Final Opinion
	This is a Canadian company which would employ 2 people. It would be engaged in the jewelry wholesale. We tried to reach the company but nobody would answer our calls. The voicemail reached did not release the subject's name. We cannot verify if the company is currently operating. There's no ultimate payment experience. At this time, we STRONGLY suggest working with GUARANTEES and a review in 6 mnonths to check on the company's evolution and length of payment.

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.35
UK Pound	1	Rs.80.50
Euro	1	Rs.69.14

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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