MIRA
INFORM REPORT
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Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
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Name : |
NEWORGANICS INC |
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Registered Office : |
32 W. Loockerman St. Suite 201 - Dover - Kent - DE 19904 |
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Country : |
United States |
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Year of Establishment : |
1981 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Supplier of organic ingredients |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
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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Legal Name: |
Neworganics Inc |
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Legal Address |
32 W. Loockerman St.
Suite 201 - Dover - Kent - DE 19904 - USA (Registered Agent Address) |
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Operative Address |
3990 Varsity Drive Ann Arbor, MI 48108 USA (Headquarters) |
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Telephone: |
+1 (734) 677-5570 |
ID : |
4682259 |
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Fax: |
+1 (734) 677-5570 |
Legal Form: |
Corporation for Profit |
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Email: |
info@neworganics.com |
Registered in: |
Delaware |
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Website: |
http://www.neworganics.com |
Date Created: |
1981 |
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Manager: |
Jethern Phillips, Owner |
Date Incorporated: |
April, 30th. 2009 |
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Staff: |
35 |
Stock: |
10,000 |
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Value: |
NA |
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Activity: |
Supplier of organic ingredients |
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BUSINESS
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HISTORY |
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The company was founded
in 1981 as American Health & Nutrition |
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PRINCIPAL ACTIVITY |
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Supplier of organic ingredients |
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Products/Services description: |
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New Organics' master plan
is to keep Americans healthy via nutritious ingredients. The company is one
of the largest suppliers of non-genetically modified, certified-organic bulk
ingredients and foods in North America. The company provides organically
grown barley, flax, peas, rye, soybeans, spelt, and wheat. The ingredients
firm also offers edible oils and beans, grains, flours, seeds, protein
powders, and specialized fibers and sweeteners. |
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Sales are: |
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Wholesale |
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Brands: |
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New Organics |
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Clients: |
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Food manufacturers,
co-packers, dietary supplement makers, ingredient distributors, and ranchers
(for animal feed). |
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Suppliers: |
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The person contacted refused
to provide the name of the suppliers for us to check trade references. |
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Operations area: |
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National, International |
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The subject employs 35
employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered
at the address listed above. |
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Comments on location: |
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It is incorporated in
Delaware due to tax purposes. |
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. Mr. Jethren P. Phillips is the main shareholder. |
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Management: |
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Martha Sampier,
Controller Jim Love, Logistics And
Processing Cindy Maynard, Sales
& Marketing Staff Jethren P Phillips, Owner
And Chairman R Shane Rohan, Purchasing Lee Sanford, Credit
Manager |
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 the
operator of the company, who refused to provide us any financial data
without knowing the name of the inquiring party. |
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However our financial
sources could provide us with the following data. Those figures are
estimates provided by confidential banking and financial institutions working
with the company. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
17,970,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are 7 UCC** files listed with the Secretary of State of
Michigan and Delaware. 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 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
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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. |
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Final Opinion |
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This is a small sized
American company which employs 35 people and has 30 years of experience in
the market. There were no legal
filings found against the company or its legal representatives. The income per employee
seems pretty high for the company's size. A credit line may be
considered for USD 250,000.- |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Position |
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Operator |
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Comments |
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The person contacted
refused to provide us any information on grounds of confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.58 |
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1 |
Rs.71.75 |
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Euro |
1 |
Rs.64.80 |
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 |
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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.