MIRA INFORM REPORT

 

 

Report Date :           

28.06.2011

 

IDENTIFICATION DETAILS

 

Name :

GAMBY GLOBAL INC

 

 

Formerly Known As :

W. Gamby & Co., Inc

 

 

Registered Office :

494 8th Avenue, Ste 802, Ste 1500, New York, New York 10001

 

 

Country :

United States 

 

 

Date of Incorporation :

22.06.1949

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Importer and distributor of fabrics and textiles

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 500,000

Status :

Satisfactory

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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:

Gamby Global Inc

Address in the order:

494 Eight Avenue Suite 1500 New York

 

 

Legal Name:

Gamby Global Inc

 

 

Legal Address

494 8TH AVENUE

STE 802, STE 1500

NEW YORK, NEW YORK 10001, USA

 

 

Telephone:

+ 1 (212) 354 4040

corp.ID :

62851

Fax:

+ 1 (212) 354-5388

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

New York

Website:

NA

Date Created:

NA

Manager:

MICHAEL R SCHERER, Chief Executive Officer

Date Incorporated:

JUNE 22, 1949

Staff:

6

Stock:

NA

 

 

Value:

NA

Activity:

Importer and distributor of fabrics and textiles.

 

 

BANKS

 

Name of the Bank

Bank of America

 

 

BUSINESS

 

HISTORY

 

Gamby Global, Inc. operates as an importer and distributor of textiles and fabrics.

 

The company was incorporated in 1949 as W. Gamby & Co., Inc. and changed its name to Gamby Global, Inc. in October 2009.

 

Gamby Global, Inc. is based in New York, New York.

 

PRINCIPAL ACTIVITY

 

Gamby Global Inc is a private company located in the US.

 

The company is working as an importer of goods and  textiles.

 

This is a very well established structure.

 

The company has international business partners.

 

Products/Services description:

 

Piece goods, textile and other dry goods.

Sales are:

 

Wholesale

Operations area:

 

National, International

The company imports from Malaysia

Comments on location:

 

Single Location



Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

Despite our long searches we were unable to identify the company’s shareholders.

Management:

 

Michael Schere, Chief Executive Officer.

Ena Sanichar,    Bookkeeper.



Financials - COMMERCIAL TRENDS AND FORECAST

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

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 (Below listed the company’s volume of transactions).

 

Currency

DATE

USD

2010

Turnover

60,000,000

 

Legal Fillings

 There are no recent UCC** files listed with the Secretary of State of New York.

 

There are no legal filings listed with the District Court.

 

The last annual report was filed in 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 on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

 

 

Rating

 

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 company with 61 years of experience.

 

We did not find any specific adverse record against the company during the investigation.

 

Its income is correct for its size.

 

We advise a credit line in the range of USD 500,000.

 

We suggest a follow up within 10 months to confirm that the company remains on a safe trend.

 

 

 

 

APPENDIX

 

Comments

 

The person interviewed was unwilling to confirm her name. She nevertheless confirmed the company’s location, size and general line of business.

 

 

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.10

UK Pound

1

Rs.71.88

Euro

1

Rs.63.75

 

 

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.