MIRA INFORM REPORT

Report Date :

13.05.2011

IDENTIFICATION DETAILS

Name :	FINACITY CORPORATION
Registered Office :	Corporation Trust Center, 1209 Orange Street, Wilmington De, 19801
Country :	United States
Date of Incorporation :	23.03.2001
Legal Form :	Corporation for Profit
Line of Business :	Business Support Services

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
Comments on data supplied:	Please note that the correct company`s name is "FINACITY CORPORATION".
Legal Name:	FINACITY CORPORATION
Legal Address	CORPORATION TRUST CENTER, 1209 ORANGE STREET, WILMINGTON DE, 19801, USA (incorporators)
Operative Address	281 Tresser Boulevard, Two Stamford Plaza, 11th Floor, Stamford, CT 06901, USA (headquarters)
Telephone:	(203) 428-3500	ID :	3372474
Fax:	(203) 428-3904	Legal Form:	Corporation for Profit
Email:	info@finacity.com	Registered in:	Delaware
Website:	http://www.finacity.com/	Date Created:	2001
Manager:	Adrian Katz, Chief Executive Officer	Date Incorporated:	March 23rd, 2001
Staff:	35	Stock:	2,700,000
		Value:	0.001 USD
Activity:	Business Support Services.

BANKS
Name of the Bank	NORDDEUTSCHE LANDESBANK
Name of the Bank	JP MORGAN CHASE BANK
Name of the Bank	BANK OF AMERICA
BUSINESS
HISTORY
	The company was founded in 2001. The company has presence in Czech Republic and England.
PRINCIPAL ACTIVITY
	The company is engaged in accounts receivable securitization services. It provides accounts receivable securitization services for companies.
Products/Services description:
	It specializes in providing capital markets receivables funding programs, and servicing and collections. It also offers accounts receivable servicing and collections options, including invoice verification and fraud detection, dispute resolution, pre-claim and post-claim collections, and customized reporting services.
Clients:
	Investment banking and specialty financing industry.
Operations area:
	National, International
The subject employs 35 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The legal address of the company is that of the registrant officer: Corporation Trust Center, 1209 Orange Street, Wilmington DE, 19801, USA However, it is headquartered at: 281 Tresser Boulevard, Two Stamford Plaza, 11th Floor, Stamford, CT 06901, USA
Comments on location:
	The company is incorporated in Delaware due to tax purposes, however, it is headquartered in Connecticut.
Branches:
	The company has branches in New York and Miami.

Shareholders - Manager - Related Companies
Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. Despite our long searches, we could not identify the shareholders.
Management:
	Adrian Katz, Chief Executive Officer Michael Rodgers, Executive Vice President Jeremy Blatt, Managing Director, Deal Structuring and Execution

Financials - COMMERCIAL TRENDS AND FORECAST
As a private company the subject does not publish any financial statements.
We have contacted the company and 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	1,200,000
The cash flow is	normal

Currency	DATE
USD	2008
Turnover	1,300,000
The cash flow is	normal

Legal Fillings

There are 14 UCC files listed with the Secretary of State of Delaware.

There are no legal filings listed with the District Court.

For information:

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 small sized American company. It employs 35 people and has been in business for 9 years. The income per employee is very low. We strongly suggest working with GUARANTEES.

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 at different business hours, and left a message which kept unanswered.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.79
UK Pound	1	Rs.73.19
Euro	1	Rs.63.59

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.