MIRA INFORM REPORT

Report Date :

12.05.2011

IDENTIFICATION DETAILS

Name :	WALLTIES&FORMS, INC. (WALLTIES)

Formerly Known As :	WALLTIES & FORMS, INC. and WALLTIES, INC.

Registered Office :	12613 Mcgee, Kansas City Mo 64145

Country :	United States

Date of Incorporation :	13.12.1976

Legal Form :	Corporation for Profit

Line of Business :	Aluminum forms manufacturer and supplier

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 400,000
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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

United States

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:	Wall Ties & Forms Inc
Address in the order:	4000, Bonner Industrial Dr Shawnee KS 66226

Legal Name:	WALLTIES&FORMS, INC. (WALLTIES)
Trade Name:	WALLTIES
Legal Address	12613 MCGEE, KANSAS CITY MO 64145, USA (incorporators)
Operative Address	4000 Bonner Industrial Drive, Shawnee, KS 66226, USA (headquarters)
Telephone:	(913) 441-0073	ID :	00187993
Fax:	(913) 441-0073	Legal Form:	Corporation for Profit
Email:	ask@wallties.com	Registered in:	Missouri
Website:	http://www.wallties.com/	Date Created:	1976
Manager:	Ross W Worley, Chief Executive Officer	Date Incorporated:	December 13th, 1976
Staff:	150	Stock:	NA
		Value:	NA
Activity:	Aluminum forms manufacturer and supplier

BANKS

Name of the Bank	MISSOURI BANK & TRUST COMPANY
Location	PO BOX 26430 KANSAS CITY MO 64196- 6430
Name of the Bank	UMB BANK, N.A.
Location	1010 GRAND BLVD KANSAS CITY MO 64106- 2202

BUSINESS

HISTORY
	The company was created in 1976. The company`s previous names were WALLTIES & FORMS, INC. and WALLTIES, INC.
PRINCIPAL ACTIVITY
	The company is engaged in Aluminum forms manufacturing and distribution.
Products/Services description:
	The company manufactures and distributes aluminum forms and designs concrete forming systems and concrete formwork accessories, such as: 8-8/8-24 Concrete Forms, 6-12 Double Bracing, and Super Light Concrete Forms, among others.
Operations area:
	National, International
The subject employs 150 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The legal address of the company is that of the registrant officer: 12613 Mcgee, Kansas City MO 64145, USA The company is headquartered at: 4000 Bonner Industrial Drive, Shawnee, KS 66226, USA
Branches:
	The company operates through distributors nationwide.

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The company is privately held. Ross Worley and Orval Engelken appear to be the major shareholders. However, this information was not verified by the company.
Management:
	Ross W Worley, Chief Executive Officer Orval Engelken, President Matt Bray, National Sales Manger

Financials - COMMERCIAL TRENDS AND FORECAST

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

We have contacted the company, but could not speak to any representative. We left a message which kept unanswered.

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	26,400,000
The cash flow is	normal

Legal Fillings

There are 39 UCC** files listed with the Secretary of State of Missouri.

There are no legal filings listed with the District Court.

The last annual report was filed on 6/30/2010.

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

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.

Final Opinion

This is a medium sized American company. It employs 150 people and has been in business for 34 years.

A credit line may be considered for USD 400,000

SUMMARY

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

APPENDIX

Comments
	We have contacted the company several times and left a message in the voice mail of Ms. Janice, Accounting Department, which kept unanswered.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.69
UK Pound	1	Rs.73.12
Euro	1	Rs.64.39

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.