MIRA INFORM REPORT

Report Date :

11.03.2011

IDENTIFICATION DETAILS

Name :	KING ZAK INDUSTRIES, INC.
Registered Office :	3 Police Drive Goshen, New York, 10924
Country :	United States
Date of Incorporation :	03.05.1988
Legal Form :	Corporation for Profit
Line of Business :	National and international party Supplies.

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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
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
Legal Name:	KING ZAK INDUSTRIES, INC.
Trade Name:	KING ZAK INDUSTRIES, INC.
Legal Address	3 Police Drive Goshen, New York, 10924, USA.
Operative Address	3 Police Drive Goshen, New York 10924, USA.
Telephone:	+1 (845) 291-1200	ID :	1258164
Fax:	+1 (845) 291-7338	Legal Form:	Corporation for Profit
Email:	kzinfo@kingzak.com	Registered in:	New York
Website:	http://www.kingzak.com	Date Created:	1986
Manager:	Herb Zakarin, President	Date Incorporated:	May 03, 1988
Staff:	49	Stock:	200
		Value:	No Par Value
Activity:	National and international party Supplies.

BUSINESS
HISTORY
	The company was founded 25 years ago.
PRINCIPAL ACTIVITY
	The company is a national and international provider of high quality party products.
Products/Services description:
	Paper & plastic plates Plastic cutlery Party ensembles Party & catering supplies Packaged & bulk aluminum Garbage & Food Bags.
Sales are:
	Wholesale
Brands:
	Nicole Home Collection Lillian Party Dimensions
Operations area:
	National, International, Local
Trade References:
	The person contacted refused to provide the names of their suppliers for us to check the trade references.
The subject employs 49 employee(s)
Comments on staff:
	The subject employs 49 employees at group level.
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at 3 Police Drive Goshen, New York 10924, USA.
The property is:
	Owned

Shareholders - Manager - Related Companies
Shareholders Parent Company(ies):
	This is a private company. Herbert Zakarin is the owner and main shareholder.
Management:
	Herbert Zakarin,Principal

Financials - COMMERCIAL TRENDS AND FORECAST

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

We have contacted the company but refused to provide us any financial data on grounds of confidentiality.

Legal Fillings

There are 14 UCC** files listed with the Secretary of State of New York.

There are legal filings listed with the District Court.

Plaintiff: KING ZAK INDUSTRIES, INC.

Defendant: BIG LOTS STORES, INC.

Case Number: 2:2011cv01067

Filed: February 24, 2011

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 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 incorporated for business for 25 years; it has a staff of 49 employees which makes it a medium sized company. There were no legal filings found against the company or its legal representatives. Even though we do have payment experience, no trade references were provided. No financial information could be gathered. Therefore, we suggest working with GUARANTEES.

SUMMARY
FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public Records	NO
Indebtedness	N.A.	Payments	REGULAR
Cash	N.A.

APPENDIX
Position
	Receptionist
Comments
	We have contacted the company. However, the receptionist transferred the call and no one ever answered.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.11
UK Pound	1	Rs.72.91
Euro	1	Rs.62.56

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.