MIRA INFORM REPORT

 

 

Report Date :           

14.03.2011

 

Additional Information:

The secretary of state of NJ is experiencing technical problems, we were not able to confirm the incorporation of the company, which may modify our credit qualification.

 

IDENTIFICATION DETAILS

 

Name :

WORLD WIDE SALES CORP.

 

 

Registered Office :

60 Pulaski Street Bayonne, NJ 07002-5001

 

 

Country :

United States 

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

General Merchandise

 

 

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 30,000

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 – 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

 

Ordered as:

World Wide Sales

Address in the order:

60 Pulaski Street, Bayonne NJ 07002

 

 

Legal Name:

World Wide Sales Corp.

 

 

Legal Address

60 Pulaski Street Bayonne, NJ 07002-5001, USA

 

 

Telephone:

(201) 339-5193

ID :

NA

Fax:

(201) 339-5193

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

New Jersey

Website:

NA

Date Created:

NA

Manager:

Barry Shimon, President

Date Incorporated:

NA

Staff:

25

Stock:

NA

 

 

Value:

NA

Activity:

General merchandise

 

 

BUSINESS

 

HISTORY

 

The company would have been created in 2005.

PRINCIPAL ACTIVITY

 

The company is engaged in general merchandise distribution.

Sales are:

 

Retail

The subject employs 25 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

60 Pulaski Street Bayonne, NJ 07002-5001, USA



Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is privately held.

 

Despite our long searches, we could not identify the shareholders and the person contacted refused to provide that information on grounds of confidentiality.

Management:

 

Barry Shimon, President

Isaac Kleiman, Manager

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Isaac Kleiman, Manager, who refused to provide us any financial data without knowing the name of the inquiring party.

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

2,100,000

The cash flow is

normal

 

Legal Fillings

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

 

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 correct credit rate.

 

The company would be in Good Standing. This means that all local and federal taxes were paid on due date.

 Final Opinion

 

This is a small sized American company. It employs 25 people and would have been in business since 2005.

 

A credit line may be considered for USD 30,000

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Person Interviewed

 

Isaac Kleiman

Position

 

Manager

Comments

 

The person contacted refused to provide any kind of information on grounds of confidentiality.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.21

UK Pound

1

Rs.72.55

Euro

1

Rs.62.43

 

 

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

 

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.