MIRA INFORM REPORT
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Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
THE GYM SOURCE, INC. |
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Registered Office : |
40 E 52nd St Fl 3, New York, NY 10022-5911 |
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Country : |
United States |
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Date of Incorporation : |
21.04.1994 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Gym and Exercise Equipment Stores |
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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 30,000. |
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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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Ordered as: |
GYM Source |
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Address in the order: |
100 Danbury Road, Suite 104, Ridgefield, CT 06877 The addres given by the client is for the Commecrial Division. The legal and operative addres are listed below. |
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Legal Name: |
THE GYM SOURCE, INC. |
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Trade Name: |
Cutler-Owens International |
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Legal Address |
40 E 52nd St Fl 3 New York, NY 10022-5911 United States |
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Telephone: |
212 688 4222 |
Coprorate ID : |
1814319 |
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Fax: |
212 750 2886 |
Legal Form: |
Corporation for Profit |
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Email: |
sales@gymsource.com |
Registered in: |
New York |
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Website: |
www.gymsource.com |
Date Created: |
1978 |
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Manager: |
Richard Miller Owner |
Date Incorporated: |
APRIL 21, 1994 |
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Staff: |
20-49 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Gym and Exercise Equipment Stores |
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BANKS
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Name of the Bank |
WEBSTER BANK, N.A |
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Name of the Bank |
PEOPLE'S BANK |
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Name of the Bank |
BANK OF AMERICA |
BUSINESS
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HISTORY |
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Gym Source in New York, NY is a private company categorized under Gym
and Exercise Equipment Stores. Our show it was established in 1978 and
incorporated in New York. The company is also known as Cutler-Owens International. |
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PRINCIPAL ACTIVITY |
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Selling Gym and exercises equipments. |
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Products/Services description: |
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Equiptment Services Site Design |
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Sales are: |
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Wholesale, Retail |
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Brands: |
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Cybex, True, Power Plate, WaterRower, Iron Grip, Paramount, Hoist,
StairMaster, LifeCore, Octane, Expresso, Tuff Stuff, ProSpot Fitness, Schwinn
Ftiness |
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Clients: |
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Sports Teams YMCAs & JCCs Fortune 500 Federal Reserve Equinox Armed Forces Other Corporations Among Others |
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Operations area: |
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Trade references: |
National We were not able to confirm the trade references with the staff. |
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PAYMENTS |
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regular |
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Comments on location: |
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The company is headquartered in New York, and have branches all around
the United States, including: 100 Danbury Road, Suite 104, Ridgefield, CT 06877, USA |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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Richar Miller Owner |
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Management: |
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Richard Miller President William kemintzer Secretary Farid T. Hakim Treasurer |
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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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 |
$2.5 to 5 million |
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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of New York. Filing Number: 0909090522696 Filing Date: 09-09-2009 Secured Party: WEBSTER BANK, N.A. Filing Number: 0705090373825 Filing Date: 05-09-2007 Secured Party: PEOPLE'S BANK There are no legal filings listed with the
District Court. The last annual report was filed on 2010. 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 records 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 an established company. There are no legal incidences against this
company. A credit line may be considered for USD
30,000. A business connection can be conducted. |
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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Comments |
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The receptionist confirmed the information related to the company’s
location. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.57 |
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UK Pound |
1 |
Rs.71.75 |
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Euro |
1 |
Rs.62.60 |
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 |
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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.