MIRA INFORM REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
HOME SOURCE INTERNATIONAL, INC |
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Registered Office : |
1100, |
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Country : |
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Date of Incorporation : |
04.01.2000 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Bed and |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
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: |
Home Source International |
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Address in the order: |
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Legal Name: |
HOME SOURCE INTERNATIONAL, INC |
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Legal Address |
1100, |
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Mailing Address |
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Telephone: |
(404) 682-9820 / 9805 |
ID : |
0000529 |
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Fax: |
(404) 420-2586 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
2000 |
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Manager: |
KEITH R SORGELOOS, CEO |
Date Incorporated: |
January 4 th, 2000 |
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Staff: |
30 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Bed and |
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BANKS
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Name of the Bank |
SUNTRUST BANK |
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Name of the Bank |
PNC BANK, N.A. |
BUSINESS
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HISTORY |
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The company was created in 2000 |
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PRINCIPAL ACTIVITY |
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Bed and bath products developer. |
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Products/Services description: |
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It offers sheets and bedding, shower curtains, towels, cotton reverse rugs,
robes, bamboo solid sheets and beddings products, blankets, and coverlets.
The company markets its products through retailers. |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry |
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Operations area: |
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National |
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The company imports from |
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The subject employs 30 employee(s) |
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LOCATION |
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Headquarters |
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The company is headquartered at: 1100, Westlake Parkway Suit 120, |
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Comments on location: |
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Single location |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a private company. KEITH R SORGELOOS is the main shareholder. |
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Management: |
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KEITH R SORGELOOS, CEO. Mike Beard, CFO. John A. Fraley, COO. |
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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We have contacted Mrs. Rachel, from the Accounting
department, who refused to provide us any financial data without knowing
the name of the inquiring party. |
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Legal Fillings |
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There are 6 UCC** files listed with the
Secretary of State of Georgia There are no legal filings listed with the
District Court. There are no UCC** files listed with the
Secretary of State of Michigan. There are no legal filings listed with the
District Court. 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 ** 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 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 Low 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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This is a small sized American company which
employs 30 persons and has 10 years of experience in the market. There were no legal filings found against
the company or its representatives. We have no payments experience for the
company requested, nor do we have any financial data. Therefore, we suggest working with
GUARANTEES. |
SUMMARY
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Profitability |
N.A. |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
N.A. |
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Cash |
N.A. |
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APPENDIX
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Person Interviewed |
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Mrs. Rachel |
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Position |
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Accounting department Operator |
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Comments |
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The person contacted refused to provide any information on grounds of
confidentiality. The operator confirmed the company's addresses. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.50 |
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1 |
Rs.73.07 |
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Euro |
1 |
Rs.61.63 |
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 |
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.