MIRA INFORM
REPORT
|
Report Date : |
05.01.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
SARCOM INC. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
03.06.1982 |
|
|
|
|
Legal Form : |
Corporation for Profit |
|
|
|
|
Line of Business : |
Manufacturers, Suppliers and Distributors of chemical groceries and
its derivates |
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 |
|
Maximum Credit Limit : |
USD 215,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
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) |
|
|
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
|
Currency: USD |
IDENTIFICATION
|
Ordered as: |
AEP Colloids (Division of Sarcom Inc) |
||
|
Address in the order: |
6299, Route 9N, |
||
|
Comments on data supplied: |
The name provided is that of a non incorporated business unit of Sarcom Inc. |
||
|
Legal Name: |
SARCOM INC. |
||
|
|
|
||
|
Legal Address |
|
||
|
Operative Address |
6299 Route 9N - Hadley, NY 12835 - |
||
|
Telephone: |
(518) 696-9970 |
ID : |
773817 |
|
Fax: |
(518) 696-9997 |
Legal Form: |
Corporation for Profit |
|
Email: |
astrouse@sarcominc.com |
Registered in: |
|
|
Website: |
Date Created: |
1982 |
|
|
Manager: |
Gary Wine, President |
Date Incorporated: |
June, 3rd. 1982 |
|
Staff: |
9 |
Stock: |
200 |
|
|
|
Value: |
No par value |
|
Activity: |
Manufacturers, Suppliers and Distributors of chemical groceries and
its derivates |
||
BANKS
|
Name of the Bank |
MARINE MIDLAND BANK |
BUSINESS
|
HISTORY |
|
|
|
The company was created in 1982. Mr. Bob Palagonia was its founder. |
|
PRINCIPAL ACTIVITY |
|
|
|
Manufacturers, Suppliers and Distributors of chemical groceries and
its derivates Dear client, Your order was on: AEP Colloids (Division of Sarcom Inc.) 6299, Route 9N, We weren't able to find "AEP Colloids" registered with an
active status in the Secretary of State of New York. We found the company
with a “merged out” status in that Secretary of State. Nevertheless, we could find "Sarcom
Inc." with an active status in the Secretary of State already mentioned. We were able to verify the link between both companies through their
websites: http://www.aepcolloids.com/ and http://www.sarcominc.com/ We also spoke
with Mr. Roy Arnold, the Controller of the company, who confirmed that
"AEP Colloids" is a division of "Sarcom
Inc.” We, therefore, make the report on “Sarcom
Inc." |
|
Products/Services description: |
|
|
|
They specialize in Essential Oils, Aromatic Chemicals, Menthol Crystals,
Psyllium Seed Husk and Powder, Vanilla Beans, etc. They also offer these products: |
|
Sales are: |
|
|
|
Wholesale |
|
Clients: |
|
|
|
Professionals of the industry |
|
Operations area: |
|
|
|
National, International |
|
The subject employs 9 employee(s) |
|
|
PAYMENTS |
|
|
|
made on a 45 days basis - monitored over the last 12 months |
|
LOCATION |
|
|
Headquarters |
|
|
|
The Legal Address Of The Company Is However, it is headquartered at |
Shareholders - Manager - Related Companies
|
Listed at the stock exchange: |
|
|
|
NO |
|
Shareholders Parent Company(ies): |
|
|
|
This is a private company. The controller of the company told us that the main shareholder of the
company is the government. |
|
Management: |
|
|
|
Gary Wine, President and CEO |
|
Related Companies: |
|
|
|
Sarcom Inc. |
Financials - COMMERCIAL TRENDS AND FORECAST
|
As a private company the subject does not publish any financial
statements. |
|
We have contacted Mr. Roy Arnold, controller of the company, who
provided us with the following data: |
|
Currency |
DATE |
|
USD |
2009 |
|
Turnover |
9,800,000 |
|
The cash flow is |
|
|
Legal Fillings |
|
There are several UCC** files listed with
the Secretary of State of New York. 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
|
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 |
|
|
|
This is a small sized American company
which employs 9 persons and has 29 years of experience in the market. A credit line may be consider for USD
215,000 |
SUMMARY
|
|
|
||
|
Profitability |
CORRECT |
Public Records |
NO |
|
Indebtedness |
CONTROLLED |
Payments |
REGULAR |
|
Cash |
|
|
|
APPENDIX
|
Person Interviewed |
|
|
|
Roy Arnold |
|
Position |
|
|
|
Controller of the company |
|
Comments |
|
|
|
The person contacted provide us with the following information: - President of the company - Main shareholder - Employees - Payments to suppliers - Annual sales (2009) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.84 |
|
|
1 |
Rs.69.32 |
|
Euro |
1 |
Rs.59.79 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.