MIRA INFORM REPORT

Report Date :

10.06.2011

IDENTIFICATION DETAILS

Name :	HAMILTON FABRIC SALES INC

Registered Office :	629 Southwest Street, High Point, Nc 27260

Country :	United States

Date of Incorporation :	28.04.1978

Legal Form :	Corporation for Profit

Line of Business :	Fabric Wholesale

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 50,000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United States

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

Bottom of Form

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	Hamilton Fabric Sales
Address in the order:	629 Southwest Street, High Point NC 27262

Legal Name:	HAMILTON FABRIC SALES INC
Legal Address	629 SOUTHWEST STREET, HIGH POINT, NC 27260, USA
Mailing Address	PO BOX 990, HIGH POINT, NC 27261, USA
Telephone:	(336) 886-7388	ID :	0064166
Fax:	(336) 841-6015	Legal Form:	Corporation for Profit
Email:	NA	Registered in:	North Carolina
Website:	NA	Date Created:	NA
Manager:	Tom Kearns, President	Date Incorporated:	April 28, 1978
Staff:	8	Stock:	100,000 shares
		Value:	1 Par Value
Activity:	Fabric Wholesale

BANKS

Name of the Bank

HIGH POINT BANK & TRUST CO INC

BUSINESS

PRINCIPAL ACTIVITY
	The company operates as an importer and converter of middle to high-end tapestries, jacquards, novelties, damask, velvets and other woven goods.
Products/Services description:
	Cut Yardage Program Jacquards Linen/Linen Blends Silk/Silk Blends Tapestries Velvets High End Goods Traditional Close Outs
Sales are:
	Wholesale
Clients:
	Professionals of the industry.
Operations area:
	National, International
The company imports from Europe, China and India.
Trade References:
	The person contacted refused to provide us the names of their suppliers for us to check trade references.
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at: 629 SOUTHWEST STREET, HIGH POINT, NC 27260, USA

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	This is a private company. John Kearns is the owner and main shareholder.
Management:
	Tom Kearns Jr, President John Kearns, Secretary

Financials - COMMERCIAL TRENDS AND FORECAST

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

We have contacted Tom Kearns who refused to provide us any financial data on grounds of confidentiality.

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.

Currency	DATE
USD	2010
Turnover	2,500,000
The cash flow is	Normal

Comments on the financial data: Tom Kearns refused to provide us any financial information. Through our sources we could gather the 2010 financial estimates,
but no financial information from previous years could be gathered.

Legal Fillings

There are 3 UCC** files listed with the Secretary of State of North Carolina.

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

Local credit bureau gave a medium 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 company, with 8 employees and 33 years of experience.

It is a family owned and managed business.

We have contacted Tom Kearns who refused to provide us any financial information. Through our sources we could gather the estimated range of revenue for 2010.

Income is good for its size. There is recent payment history.

We suggest a credit line for USD 50,000

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Person Interviewed
	TOM KEARNS
Position
	President
Comments
	He agreed to verify some general information about the subject but he refused to provide us any financial information on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.72
UK Pound	1	Rs.73.47
Euro	1	Rs.65.38

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.