MIRA INFORM REPORT

Report Date :

10.01.2011

IDENTIFICATION DETAILS

Name :	ZONE PRODUCTS AUSTRALIA PTY LTD

Formerly Known As :	Penda P/L

Registered Office :	8/10 Gladstone Road, Astle Hill, New South Wales 2154

Country :	Australia

Date of Incorporation :	28.01.1977

Legal Form :	Proprietary Company

Line of Business :	Research, Design and Development of security systems including hi definition CCTV systems video analysis and real time surveillance

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)

Australia

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

REGISTERED NAME

ZONE PRODUCTS AUSTRALIA PTY LTD

ACN: 001 431 885

ABN: 15 001 431 885

CORPORATE SEARCH

Incorporation Date: 28 Jan 1977

Incorporation State: New South Wales

Registered Office 8/10 GLADSTONE Road

CASTLE HILL, New South Wales 2154 Australia

Charges Date Registered: 08 Dec 2006

Chargee Name: 100 489 763 HELMSMAN FUNDS MAN

Charge Type: Fixed and floating charge

ASIC Charge No: 1388236

Number of Shares Issued: 750000

Paid Capital: 69455

Shareholders VANESSA NOLAN AND OTHERS

Number of Shares: 699000

MATTHEW WILLIAM NOLAN

Number of Shares: 50000

DOUGLAS DONALD MCCLYMONT AND OTHERS

Number of Shares: 1000

Directors POTTER, DOUGLAS IAN

Appointment Date: 13 Feb 2007

Date of Birth: 22 Feb 1969

Gender: Male

Address: 2A ALLENBY Street CLONTARF, New South Wales 2093 Australia

Resident Overseas: No

NOLAN, WILLIAM

Appointment Date: 11 May 1992

Date of Birth: 09 Sep 1942

Gender: Male

Address: 67 EXCELSIOR Avenue CASTLE HILL, New South Wales 2154 Australia

Resident Overseas: No

Secretary WILLIAM NOLAN

Appointment Date: 26 Aug 1996

BUSINESS STRUCTURE

TRADING ADDRESS 8, 10 Gladstone Rd

CASTLE HILL, NSW 2154

POSTAL ADDRESS PO Box 642

BHBC, NSW 2153

TELEPHONE (612) 9634 9700

FACSIMILE (612) 9899 2705

BANK Not determined

EMPLOYEES 11

BACKGROUND

The subject was incorporated in New South Wales on 28 January 1977 as Penda P/L before adopting the current style on 9 May 2001.

Operations were founded in 1986.

OPERATIONS

The subject operates in the research, design and development of security systems including hi definition CCTV systems video analysis and real time surveillance.

Activities are conducted from premises located at the above listed trading address.

ADVERSE

A search of the of Baycorp Advantage Limited traced the following litigation listed against the subject at that date.

External Administration

Administration Title: Administrator (deed of company arrangement)

Administration Name: NEIL ROBERT CUSSEN

HORWATH SYDNEY PARTNERSHIP WESTSIDE TWR LEVEL 10

1 MARKET STREET SYDNEY NSW 20

Address:

Start Date: 17 Nov 2006

Cease Date: 09 Feb 2007

Document Number: 7E0 915 966

Administration Title: Administrator (organisation under administration)

Administration Name: NEIL ROBERT CUSSEN

HORWATH SYDNEY PARTNERSHIP WESTSIDE TWR LEVEL 10

1 MARKET STREET SYDNEY NSW 20

Address:

Start Date: 10 Apr 2006

Cease Date: 17 Nov 2006

Document Number: 7E0 676 116

During the current investigation it was advised that the above External Administration proceedings were initiated as a result of financial difficulties that were caused by a previous Director/ Manager of the business. This person is no longer with the subject.

FINANCES

The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.

During the current interview conducted with Director William Nolan he advised that for the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $3,000,000.

On a projected basis revenue is expected to reach $4,500,000 for the current financial year ending 30 June 2011.

Current assets include stock on hand of up to $100,000.

The subject maintains no overdraft facilities as all operations are able to be funded through the internal cashflows of the company.

TRADE SURVEY

Details pertaining to the subject’s suppliers are yet to be obtained.

Upon receiving these, this report will be updated and forwarded to your office.

SUMMARY

The subject was incorporated in New South Wales on 28 January 1977 as Penda P/L before adopting the current style on 9 May 2001.

Operations were founded in 1986.

The above External Administration proceedings were initiated as a result of financial difficulties that were caused by a previous Director/ Manager of the business. This person is no longer with the subject.

For the last financial year ended 30 June 2010 the subject traded profitably and recorded revenue of $3,000,000.

On a projected basis revenue is expected to reach $4,500,000 for the current financial year ending 30 June 2011.

The subject maintains no overdraft facilities as all operations are able to be funded through the internal cashflows of the company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.37
UK Pound	1	Rs.70.38
Euro	1	Rs.58.93

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.