MIRA INFORM REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
VERDURE SCIENCES, INC. |
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Registered Office : |
919 N. Market St. Ste. 1300 Citizens Bank Ctr.Pobox2323, Wilmington De
198012323 |
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Country : |
United States |
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Date of Incorporation : |
01.10.2005 |
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Com. Reg. No.: |
4035983 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Misc Food Wholesalers |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
35 000 USD. |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Verdure Science |
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Address in the order: |
1250 E. Conner Street, Noblesville, IN 46060 |
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Comments on data supplied: |
The correct name is VERDURE SCIENCES, INC. |
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Legal Name: |
VERDURE SCIENCES, INC. |
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Trade Name: |
GENI HERBS |
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Legal Address |
919 N. MARKET ST. STE. 1300 CITIZENS BANK CTR.POBOX2323 WILMINGTON DE 198012323 |
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Operative Address |
1250 E CONNER ST, NOBLESVILLE, IN 46060 |
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Telephone: |
317.776.3600 |
Registration Number : |
4035983 |
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Fax: |
317.776.3650 |
Legal Form: |
Corporation for Profit |
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Email: |
info@vs-corp.com |
Registered in: |
Delaware |
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Website: |
http://www.verduresciences.com |
Date Created: |
1997 |
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Manager: |
Ajay S Patel |
Date Incorporated: |
October 1, 2005 |
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Staff: |
15 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Misc Food Wholesalers |
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BANKS
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Name of the Bank |
M&I MARSHALL & ILSLEY BANK |
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Location |
350 LOGAN ST NOBLESVILLE
IN 46060 |
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Name of the Bank |
KEYBANK NATIONAL ASSOCIATION |
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Location |
4910 TIEDEMAN RD BROOKLYN
OH 44144 |
BUSINESS
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PRINCIPAL ACTIVITY |
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Verdure Sciences is a manufacturer of innovative bionutritional
botanical ingredients, achieved through the integration of agricultural networks,
manufacturing control, and university-based research. |
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Sales are: |
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Wholesale |
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Brands: |
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Bacognize Calzbone Longvida Pomella Tinofend Wokvel |
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Clients: |
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Food producers |
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Operations area: |
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National |
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The company imports from India and Europe. |
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The company export to worldwide. |
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Trade References: |
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The person contacted refused to provide the names of their suppliers
for us to check the trade references. |
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Competitors: |
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Sysco Corporation Mclane Company, Inc Dean Foods Company |
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The subject employs 15 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered and single located at the above operative
address. The legal address is the one registered at the Secretary of State of
Delaware and is that of the registered agent. |
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Comments on location: |
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The company is incorporated in Delaware for taxes purposes. However it is headquartered in Indiana. |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Management: |
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Ajay S Patel, President Chris Fetters, Office manager |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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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. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
2 100 000 |
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The cash flow is |
normal |
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Legal Fillings |
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There are 2 UCC** files listed with the
Secretary of State of Indiana. 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
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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. |
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Final Opinion |
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The company has 14 years in the business. It is a small sized American company, evolving in a growing sector. Profitability is correct, indebtedness is controlled, cash is normal
and payments are regular. We did not find a specific adverse record against the subject. A credit line may be considered for 35 000 USD. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Mary Cooper |
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Position |
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Accounting department |
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Comments |
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The receptionist confirmed us some information; for financial and
commercial data, a voicemail has been left to the person above but the call
has not been returned yet. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.79 |
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UK Pound |
1 |
Rs.73.19 |
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Euro |
1 |
Rs.63.59 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.