MIRA INFORM REPORT

 

 

Report Date :           

25.05.2011

 

IDENTIFICATION DETAILS

 

Name :

TWINKLEDIAM INC

 

 

Registered Office :

529 Fifth Avenue, New York NY 10017

 

 

Country :

United States 

 

 

Date of Incorporation :

09.07.1997

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Jewelry Wholesaler

 

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 :

Small Company 

 

 

Payment Behaviour :

Unknown

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United States 

A1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

 

Ordered as:

Twinklediam Inc

Address in the order:

529 Fifth Avenue, New York NY 10017

Legal Name:

Twinklediam Inc

Legal Address

529 Fifth Avenue, New York NY 10017

Operative Address

529 Fifth Avenue, New York NY 10017

Telephone:

+1 (212) 490-3131

ID :

2160337

Fax:

+1 (212) 490-4141

Legal Form:

Corporation for Profit

Email:

N/A

Registered in:

New York

Website:

N/A

Date Created:

1997

Manager:

Parag Vora, President

Date Incorporated:

July 9th, 1997

Staff:

6

Stock:

200

 

 

Value:

No Par Value

Activity:

Jewelry wholesaler.

 

 

BANKS

 

Name of the Bank

Bank Of America

Name of the Bank

Valley Bank

 

 

BUSINESS

 

HISTORY

 

This company was created in the year 1997.

PRINCIPAL ACTIVITY

 

The company is categorized under jewelry wholesaler.

Products/Services description:

 

Diamond

Precious stones

Necklaces

Earrings

Among others.

Sales are:

 

Wholesale

Clients:

 

Jewelry stores

Other related industries.

The company imports from Asia

The subject employs 6 employee(s)

LOCATION

Headquarters

 

The company is headquartered at 529 Fifth Avenue, New York NY 10017.

Branches:

 

There were no branches found for this company.

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.

Management:

 

Parag Vora, President

Chirag Doshi, Commercial 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 refused to provide us any information about the company 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

370,000

 

Legal Fillings

 There are 5 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 not in Good Standing. This means that some local and federal taxes were not paid on due date.

 

 

 Final Opinion

 

This company has been in business for 14 years. It has a staff of 6 employees which makes it a medium sized company.

 

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

 

We've contacted the company, though the representative who took the call refused to provide us any information without knowing the name of the inquiring party.

 

The company gave a correct profitability for the year 2010.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

 

 

 

Cash

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Female representative

Comments

 

She refused to provide us any information about the company without knowing the name the exact name of the inquiring party.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.25

UK Pound

1

Rs.72.82

Euro

1

Rs.63.58

 

 

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.