MIRA INFORM REPORT

Report Date :

26.02.2011

IDENTIFICATION DETAILS

Name :	CONDOR SEED PRODUCTION INC

Registered Office :	16315 S Avenue A 1/2 Somerton, AZ 85350

Country :	United States

Date of Incorporation :	06.05.1985

Legal Form :	Corporation for Profit

Line of Business :	Ornamental Floriculture

RATING & COMMENTS

MIRA’s Rating :

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

United States

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

Ordered as:	Condor Seed Production Inc
Address in the order:	P O Box 6485 Yuma AZ 85366
Legal Name:	Condor Seed Production Inc
Legal Address	16315 S Avenue A 1/2 Somerton, AZ 85350
Operative Address	16315 S Avenue A 1/2 Somerton, AZ 85350
Mailing Address	PO Box 6485 Yuma, AZ 85366
Telephone:	+1 (928) 627-8803	ID :	01750980
Fax:	+1 (928) 627-2826	Legal Form:	Corporation for Profit
Email:	jlord@condorseed.com	Registered in:	Arizona
Website:	www.Condorseed.com	Date Created:	1985
Manager:	Douglas S Dorsing, President	Date Incorporated:	May 6th, 1985
Staff:	7	Stock:	N.A
		Value:	N.A.
Activity:	Ornamental Floriculture.

BANKS

Name of the Bank	Intermountain Community Bank
Name of the Bank	Pacific one bank
Name of the Bank	Bank Of the West

BUSINESS

HISTORY
	This company was created in the year 1985.
PRINCIPAL ACTIVITY
	The company is categorized under commercial vegetable and herb seeds.
Products/Services description:
	Vegetables Baby Leaf & Salad Mix Fruit Herbs Seeds for Sprouting Microgreens Organic Seeds
Sales are:
	Wholesale, Retail
Brands:
	Various industries commercial grower market
The company imports from South America
The company export to Worldwide
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at 16315 S Avenue A 1/2 Somerton, AZ 85350.
Branches:
	There were no branches found for this company.

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.
Management:
	Douglas S Dorsing, President Tom Tolman, Manager

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted Janine who refused to provide us any financial data on grounds of confidentiality. She asked us to send her an e mail with all the information we needed,so we did, though she hasn't answered yet.

Currency	DATE
USD	2010
Turnover	500,000

Legal Fillings

There are 14 UCC** files listed with the Secretary of State of Arizona.

There are no legal filings listed with the District Court.

We found in the secretary of state of Arizona the company listed as 'DELINQUENT ANNUAL REPORT' ; We contacted the company, but she refused to disclose any information about the company.

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 Low credit rate.

The company is not in Good Standing. This means that some local and federal taxes were not paid on due date.

Final Opinion

This company has been in business for 26 years. It has a staff of 7 employees which makes it a medium sized company.

There were no legal filings found against the company or its legal representatives; However the secretary of state of Arizona, showed this company as DELINQUENT, and when contacting the company she refused to provide us with any information about the company over the phone.

We suggest then working with GUARANTEES.

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	LOW	Public Records	NO
Indebtedness	N.A.	Payments	N.A.
Cash	N.A.

APPENDIX

Person Interviewed
	Janine
Position
	Accountant
Comments
	She refused to provide us with any financial information over the phone, She asked us to send her an e mail with all the information we needed, so we did, though she hasn't answered yet.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.37
UK Pound	1	Rs.73.25
Euro	1	Rs.62.68

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

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.