MIRA INFORM REPORT
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Report Date : |
28.05.2011 |
IDENTIFICATION DETAILS
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Name : |
LONESOME OAK TRADING CO., INC. |
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Registered Office : |
P.O. Box 216, Chatsworth Ga 30705-6327 |
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Country : |
United States |
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Date of Incorporation : |
22.05.1996 |
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Com. Reg. No.: |
K616453 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Carpet Manufacturer |
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 : |
400,000 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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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: |
Lonesome Oak Trading Co Inc |
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Address in the order: |
449 Lowy DR 30705, Chatsworth |
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Legal Name: |
LONESOME OAK TRADING CO., INC. |
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Legal Address |
P.O. BOX 216 CHATSWORTH GA 30705-6327 |
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Operative Address |
1546 Highway 76 Chatsworth, GA 30705 |
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Telephone: |
(706) 517-6897 |
Registration Number : |
K616453 |
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Fax: |
(706) 517-4306 |
Legal Form: |
Corporation for Profit |
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Email: |
N.A. |
Registered in: |
Georgia |
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Website: |
N.A. |
Date Created: |
1996 |
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Manager: |
J CHADWICK MCENTIRE - CEO |
Date Incorporated: |
May 22, 1996 |
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Staff: |
150 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Carpet manufacturer |
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BANKS
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Name of the Bank |
COHUTTA BANKING COMPANY |
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Location |
PO BOX 10 CHATSWORTH GA 30705 |
BUSINESS
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HISTORY |
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The company started operating in 1996. |
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PRINCIPAL ACTIVITY |
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It operates as a carpet manufacturer. It mostly wholesales, but sometimes retails too. |
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Products/Services description: |
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Carpets |
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Sales are: |
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Wholesale, Retail |
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Clients: |
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Clients are mostly carpet stores. |
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Suppliers: |
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Te maximum credit line that the company has with its suppliers is
about USD 1,000,000. It has payment terms of 30 and 60 days. |
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Operations area: |
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National |
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The company does not import |
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The company does not export |
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The subject employs 150 employee(s) |
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LOCATION |
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Headquarters |
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1546 Highway 76 Chatsworth, GA 30705 |
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The property is: |
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Owned |
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Comments on location: |
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The main office is located at that address. |
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Branches: |
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The company has another location at 449 Lowy Drive Chatsworth, GA
30705. The premises are leased. It also has another branch in Georgia, which premises it owns. |
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Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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J CHADWICK MCENTIRE is the main shareholder. |
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Management: |
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J CHADWICK MCENTIRE - CEO CHARLOTTE KING - Accountant |
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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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We have contacted Charlotte King, Accountant, who provided us
with the following data: |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
20,000,000 |
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Net Income |
4,000,000 |
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There are several UCC** files listed with
the Secretary of State of Georgia. There are no legal filings listed with the
District Court. The last annual report was filed on
2/9/2011. 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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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 subject has 15 years experience in the
business. It is a medium sized company. No adverse record has been found. The profitability is very good. A credit line may be considered. |
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SUMMARY
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Profitability |
VERY GOOD |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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ADVISED CREDIT |
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400,000 USD |
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APPENDIX
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Person Interviewed |
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Charlotte King |
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Position |
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Accountant |
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Comments |
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She confirmed all the information in this report |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.29 |
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UK Pound |
1 |
Rs.73.84 |
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Euro |
1 |
Rs.64.18 |
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.