MIRA INFORM REPORT

 

 

Report Date :

25.01.2011

 

IDENTIFICATION DETAILS

 

Name :

GEMCOR INTERNATIONAL INC.

 

 

Registered Office :

2711 Centerville Road Suite 400 New Castle, De

 

 

Country :

United States 

 

 

Date of Incorporation :

29.04.1986

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Steel Products and Sporting Goods

 

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 :

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)

United States 

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


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Gemcor International Inc

Address in the order:

668 Stony Hill Road No 286 Yardely PA 19067-4497

Legal Name:

GEMCOR INTERNATIONAL INC.

Legal Address

2711 CENTERVILLE ROAD SUITE 400 New Castle, DE(Reg agent)

Operative Address

668 STONY HILL ROAD, NO. 286 YARDLEY PA 19067-4497 USA

Telephone:

+1 (215) 493-7628

ID :

2089673

Fax:

+1 (215) 493-8543

Legal Form:

Corporation for Profit

Email:

Info@GemcorIntl.com

Registered in:

Delaware

Website:

http://gemcorinternational.com/

Date Created:

1986

Manager:

RICHARD RAITON, PRESIDENT

Date Incorporated:

April 29th, 1986

Staff:

1

Stock:

NA

 

 

Value:

NA

Activity:

Steel Products and Sporting Goods.

 

 

BANKS

 

Name of the Bank

SOVEREIGN BANK

 

 

BUSINESS

 

HISTORY

 

This company was created on 1986.

PRINCIPAL ACTIVITY

 

The company is an international trading company specializing in the areas of Steel Products and Sporting Goods.

Products/Services description:

 

Electrolytic Tin Plate

Black Plate

Cold Rolled

Prepainted

Stainless Steel products.  

Sales are:

 

Retail

Brands:

 

Activa

Camping World

Cabela's

The Golf Warehouse

Orvis

Clients:

 

General clientele

Suppliers:

 

Activa

Camping World

Cabela's

The Golf Warehouse

Orvis

Operations area:

 

National, International, Local

The company does not import

The company export to Worldwide

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered in 668 Stony Hill Road No 286 Yardely PA 19067

Comments on location:

 

This company is incorporated in Delaware for tax purposes.

However, it is headquartered in Pennsylvania.

Branches:

 

There were no branches found for this company.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a privately held company that has RICHARD RAITON, as the main shareholder.

Management:

 

RICHARD RAITON, PRESIDENT and owner.

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted a male representative who refused to provide us any financial data on grounds of confidentiality.

 

Currency

DATE

USD

2008

Turnover

190 000

The cash flow is

20

 

 

Legal Fillings

 There is 1 UCC files listed with the Secretary of State of Pennsylvania. There were no UCC files found with on the state of Pennsylvania.

 

There are no legal filings listed with the District Court.

 

For information:

 

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 in Good Standing. This means that all local and federal taxes were paid on due date.

 Final Opinion

 

This company has been in business for 25 years; It has a staff of 1 employee which makes it a small company. There were no legal filings  found against the company or its legal representatives. As there were no financial information found, and its representative refused to provide us with the required information due to confidentiality reasons, we suggest working with GUARANTEES.

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

N.A.

Payments

REGULAR

Cash

N.A.

 

 

 

 

APPENDIX

 

Person Interviewed

 

Male receptionist

Comments

 

He stated they did not apply for any credit. And refused to provide us with any further information due to confidentiality reasons.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.58

UK Pound

1

Rs.72.79

Euro

1

Rs.62.01

 

 

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%)

 

 

 

 

 

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.