MIRA INFORM REPORT

Report Date :

12.05.2011

IDENTIFICATION DETAILS

Correct Name :	WM E MARTIN AND SONS CO INCORPORATED

Registered Office :	14 Vandeventer Ave Port Washington Ave, New York, 11050

Country :	United States

Date of Incorporation :	26.11.1954

Legal Form :	Corporation for Profit

Line of Business :	Wholesaler and distributor of spices

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

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:	WM E Martin & Sons Co Inc
Address in the order:	93-39, 170th Street, Jamaica, NY 11433
Legal Name:	Wm E Martin And Sons Co Incorporated
Legal Address	14 Vandeventer Ave Port Washington Ave, New York, 11050 (Registered agent)
Operative Address	93-39 170th Street, Jamaica, New York, USA.
Telephone:	+1 (718) 291-1300	ID :	95901
Fax:	+1 (718) 291-0331	Legal Form:	Corporation for Profit
Email:	mail@martinspices.com	Registered in:	New York
Website:	www.martinspices.com	Date Created:	1917
Manager:	William J MARTIN Jr President	Date Incorporated:	November 26th, 1954
Staff:	22	Stock:	NA
		Value:	NA
Activity:	Wholesaler and distributor of spices.

BANKS

Name of the Bank	Bank Of New York
Name of the Bank	North Fork Bank
Name of the Bank	European American Bank & Trust Co

BUSINESS

HISTORY
	The company was created in the year 1917.
PRINCIPAL ACTIVITY
	The company is categorized under wholesaler of imported spices, seeds, herbs, and allied products
Products/Services description:
	Wm. E. Martin & Sons Co has been a wholesaler and distributor of spices, herbs and seeds. List of products offered: Spices, Seeds & Herbs Garlic & Onion Allied Products Seasonings The company also carries dehydrated onion, garlic, parsley and other vegetables along with a complete line of raisins and allied products. Wm. E. Martin & Sons Co caters to the spice trade, bakery trade and food industry. The Martin processing facility is able to reclean and/or grind the full line of spices used in today’s food industry. The company is member of the American Spice Trade Association (ASTA) They are affiliated to Gilroy Foods and Flavors (ConAgra), and has one of the largest inventories of dehydrated onion and garlic on the east coast
Sales are:
	Wholesale, Retail
Clients:
	General clientele Various industries
Operations area:
	National
The company imports from Canada, the Caribbean, Central and South America
The company does not export
The subject employs 22 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at 93-39 170th Street, Jamaica, New York, USA.
The property is:
	Owned
Branches:
	The company maintains a warehouse in New Jersey.

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	The company is privately held, and has the Martin family is the main shareholders.
Management:
	William J Martin Sr, Chairman. William J Martin Jr, President. Spencer Martin, Administration Sy Schwartz, Director

Financials - COMMERCIAL TRENDS AND FORECAST

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

We have contacted a female representative, who hang up on us, because we didn't have the inquiring party's name available.

Our agent called back again, this time we talked to another representative; However she refused to provide us any financial data without knowing the name of the inquiring party; And once again dropped the call.

However our financial sources could provide us with the following data (estimates):

Currency	DATE
USD	2010
Turnover	2,400,000

Currency	DATE
USD	2009
Turnover	2,500,000
The cash flow is	NORMAL

Legal Fillings

There are 10 UCC files listed with the Secretary of State of New York.

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 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, which employs 22 people and has 94 years of experience in the market.

It is a family owned business and has experience in the spice trading nich.

There were no legal filings found against the company or its legal representatives.

We've contacted the company but they hang up on us twice as we didn't have the inquiring party's name.

However, our financial sources provided us with the revenue for the year 2010.

The company gave a correct profitability for that year.

A credit line may be considered for USD 40,000

SUMMARY

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

APPENDIX

Person Interviewed
	Female representative Male representative
Comments
	She hang up on us, because we didn't have the inquiring party's name available. Our agent called back again, this time we talked to another representative; However he refused to provide us any financial data without knowing the name of the inquiring party; And once again dropped the call.

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.