MIRA
INFORM REPORT
|
Report Date : |
12.10.2011 |
IDENTIFICATION DETAILS
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Name : |
BLOCK TECHNOLOGIES INC |
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|
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Registered Office : |
12700 206th Ave NW Elk River, MN 55330-8923 |
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Country : |
United States |
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Date of Incorporation : |
Not Available |
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Legal Form : |
Private Independent |
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Line of Business : |
General mechanical engineering |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
$500 (USD) |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name and address
Block Technologies Inc
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Business
Description
|
Establishments primarily engaged in manufacturing machinery and
equipment and parts, not elsewhere classified, such as amusement park
equipment and flexible metal hose and tubing. This industry also includes
establishments primarily engaged in producing or repairing machinery and
equipment parts, not elsewhere classified, on a job or order basis for
others. |
Industry
|
Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
2499 - Other Machinery and Equipment Manufacturing
Not Elsewhere Classified |
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NACE 2002: |
2852 - General mechanical engineering |
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NAICS 2002: |
332710 - Machine Shops |
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UK SIC 2003: |
2852 - General mechanical engineering |
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US SIC 1987: |
3599 - Industrial and Commercial Machinery
and Equipment, Not Elsewhere Classified |
Key Executives
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News
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1 - Profit & Loss Item Exchange Rate:
USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
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Executives Report
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WorldStar licences
Fire Block Technology
WorldStar Energy Corp.
Investment Weekly News: 20 July 2011
[What follows is the full text of the news story.]
Rudijianto Azali,
of Jakarta, Indonesia, a director and the newly appointed President of
WorldStar, is pleased to announce that WorldStar has acquired an exclusive sublicense
from Fire Block Technologies Inc. ("Fire Block
Technologies")
to use and apply, in Southeast Asia, including China, the patent-pending
processes and solutions licensed by Fire Block Technologies from Fire Block
International Inc., a private Canadian company, for the manufacture of
engineered construction products from palm oil tree waste material ("Palm
Waste Material") with zero ignition and zero flame spread properties.
Fire Block
Technologies is a private Barbados company that controls the exclusive
worldwide license outside of Canada for the sale, marketing and distribution of
Zeroignition� Solution together with the sub-licensing rights for the
patent-pending Zeroignition� New Materials Technology.
Zeroignition�
Solution is a proprietary formula, which when used in conjunction with the
patent pending Zeroignition� New Materials Technology, is capable of creating
a wide range of wood-based products with non-combustible characteristics
("Zeroignition� Products"). These new and unique revolutionary
technologies and products, which demonstrate extreme flame resistance and
highly efficient thermal protection, are non-toxic, pH neutral, environmentally
friendly, non-corrosive and have withstood direct heat in excess of 18,000
degrees Fahrenheit without ignition or flame spread.
The
Zeroignition� New Materials Technology has been in development for the last
six years and is now ready for commercial implementation. Over the last year,
product testing on OSB, MDF, and "Zeroignition� Wallboard" (a
sheetrock replacement) manufactured using the
Zeroignition�
New Materials Technology, both for traditional wood fibre boards and Palm Waste
Material boards, has been successfully completed by a major German firm
specializing in engineered wood products machinery and factory design, pursuant
to a contract with Fire Block Technologies. Specific product certification will
be the responsibility of WorldStar, as a manufacturer of such products.
WorldStar intends
to introduce a line of Zeroignition� Products manufactured from Palm Waste
Material for use in construction, including, but not limited to, sheathing,
flooring, doors, shakes, interior wall and structural products. WorldStar
believes that its planned Zeroignition� Products will set themselves apart
from traditional construction materials and products in that they will be
non-combustible, non-toxic, environmentally-friendly, and 100% fibre based, as
well as having thermal barrier properties. Moreover, they will be produced from
Palm Waste Material, a renewable resource, which is a by-product of palm oil
production.
WorldStar's
sublicense is for a 10 year term, and is renewable for successive periods of 10
years each. WorldStar has agreed to pay a CAD$150,000 acquisition fee to Fire
Block Technologies, to be paid by the issuance of 10,000,000 fully paid shares
of common stock in the capital of WorldStar to Fire Block Technologies, and to
pay a continuing royalty to Fire Block Technologies. WorldStar must, in order
to preserve the license rights, purchase from Fire Block Technologies certain
escalating minimum quantities of Zeroignition� Solution during each year of
the term of the sublicense agreement.
WorldStar's
sublicense agreement represents a key step in its reactivation, however, its
strategic plan is still contingent on, among other things, the successful
completion of all documents required under the Letter of Intent signed with the
owners of Palm Oil Plantations in Indonesia, as well as, raising financing on
acceptable terms to fund the construction of the required processing facilities
and the start-up of operations. In addition, WorldStar will have to establish
relationships with suppliers, as well as, distributors in South East Asia.
Accordingly, WorldStar currently remains a "shell company" as defined
in Rule 12b-2 under the Securities Exchange Act of 1934, as amended, as it has
nominal assets and nominal operations.
WorldStar licences
Fire Block Technology
PR Newswire US: 12 July 2011
[What follows is the full text of the news story.]
HONG KONG, July
12, 2011 /PRNewswire/ - Rudijianto Azali, of Jakarta, Indonesia, a director and
the newly appointed President of WorldStar, is pleased to announce that
WorldStar has acquired an exclusive sublicense from Fire Block Technologies
Inc. ("Fire Block Technologies") to use and apply, in Southeast Asia,
including China, the patent-pending processes and solutions licensed by Fire
Block Technologies from Fire Block International Inc., a private Canadian
company, for the manufacture of engineered construction products from palm oil
tree waste material ("Palm Waste Material") with zero ignition and
zero flame spread properties.
Fire Block
Technologies is a private Barbados company that controls the exclusive
worldwide license outside of Canada for the sale, marketing and distribution of
Zeroignition� Solution together with the sub-licensing rights for the
patent-pending Zeroignition� New Materials Technology.
Zeroignition�
Solution is a proprietary formula, which when used in conjunction with the
patent pending Zeroignition� New Materials Technology, is capable of creating
a wide range of wood-based products with non-combustible characteristics
("Zeroignition� Products"). These new and unique revolutionary
technologies and products, which demonstrate extreme flame resistance and
highly efficient thermal protection, are non-toxic, pH neutral, environmentally
friendly, non-corrosive and have withstood direct heat in excess of 18,000
degrees Fahrenheit without ignition or flame spread.
The Zeroignition�
New Materials Technology has been in development for the last six years and is
now ready for commercial implementation. Over the last year, product testing on
OSB, MDF, and "Zeroignition� Wallboard" (a sheetrock replacement)
manufactured using the Zeroignition� New Materials Technology, both for
traditional wood fibre boards and Palm Waste Material boards, has been
successfully completed by a major German firm specializing in engineered wood
products machinery and factory design, pursuant to a contract with Fire Block
Technologies. Specific product certification will be the responsibility of
WorldStar, as a manufacturer of such products.
WorldStar intends
to introduce a line of Zeroignition� Products manufactured from Palm Waste
Material for use in construction, including, but not limited to, sheathing,
flooring, doors, shakes, interior wall and structural products. WorldStar
believes that its planned Zeroignition� Products will set themselves apart
from traditional construction materials and products in that they will be
non-combustible, non-toxic, environmentally-friendly, and 100% fibre based, as
well as having thermal barrier properties.� Moreover, they will be produced
from Palm Waste Material, a renewable resource, which is a by-product of palm
oil production.
WorldStar's
sublicense is for a 10 year term, and is renewable for successive periods of 10
years each. WorldStar has agreed to pay a CAD$150,000 acquisition fee to Fire Block
Technologies, to be paid by the issuance of 10,000,000 fully paid shares of
common stock in the capital of WorldStar to Fire Block Technologies, and to pay
a continuing royalty to Fire Block Technologies. WorldStar must, in order to
preserve the license rights, purchase from Fire Block Technologies certain
escalating minimum quantities of Zeroignition� Solution during each year of
the term of the sublicense agreement.
WorldStar's
sublicense agreement represents a key step in its reactivation, however, its
strategic plan is still contingent on, among other things, the successful
completion of all documents required under the Letter of Intent signed with the
owners of Palm Oil Plantations in Indonesia, as well as, raising financing on
acceptable terms to fund the construction of the required processing facilities
and the start-up of operations.� In addition, WorldStar will have to
establish relationships with suppliers, as well as, distributors in South East
Asia. Accordingly, WorldStar currently remains a "shell company" as
defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended, as
it has nominal assets and nominal operations.
Former operations
Worldstar also
provides the following update with respect to its former resource exploration
activities. During 2009, the Company ceased active mineral exploration
operations in Mongolia as it was not able to fund sufficient activities in
order to maintain its interests in the Mineral Exploration License Certificates
issued by the Minerals and Petroleum Authority of Mongolia. Accordingly, the
exploration rights represented by those licenses were forfeited and the Company
wrote-off the remaining book value of $7,252,340.
WorldStar is a
reporting company under section 12(g) of the Exchange Act but, because of its
inactive status as a "shell company", it has failed to file reports
with the Securities and Exchange Commission pursuant to section 13(a) of the
Exchange Act. WorldStar intends to file its outstanding annual and quarterly
reports on Forms 10-K and 10-Q as soon as possible, as part of its reactivation
plan. WorldStar currently has 57,761,834 shares issued and outstanding.
In a glass of
their own
North West News (Australia): 08 December 2010
[What follows is the full text of the news story.]
HOME owners can
save on their energy costs with glass blocks and correct management of energy
use, according to Glass Block Technologies founder Bill Burke.
Mr Burke said
renovators and new home builders were ``cashing in'' on the value of their
homes and the energy savings with the glass blocks, which create ``walls of
natural light''.
``Because of the
thermal insulation properties of glass blocks, there is a reduction in power
use and therefore cost savings on utility bills,'' he said.
Housing Industry
Association assistant director technical services Kelvin Cuskelly said he
agreed that the new generation of glass blocks could assist consumers to save
on their energy bill.
``It is important
that consumers purchase from a reputable company that can hand over facts
sheets showing the energy savings of their blocks,'' he said.
Mr Cuskelly said
the blocks, which were popular about 15 to 20 years ago, have been reinvented
and are gaining popularity.
``The range and
availability is much greater these days, with different shapes and many
different colours available as standard stock,'' he said.
``Many designers
are now starting to use these blocks for feature internal and external wall
construction.''
Mr Burke agreed
the glass block industry was always improving.
``There are so
many different sizes, colours, vertical walls, straight and curved glass block
floors and roof lights, and the list just goes on,'' he said.
``They can also be
used for fire-rating and sound-proofing,'' he said.
Blocks in a glass
of their own
Westside News (Australia): 08 December 2010
[What follows is the full text of the news story.]
HOME owners can
save on their energy costs with glass blocks and correct management of energy
use, according to Glass Block Technologies founder Bill Burke.
Mr Burke said
renovators and new home builders were ``cashing in'' on the value of their
homes and the energy savings with the glass blocks, which create ``walls of
natural light''.
``Because of the
thermal insulation properties of glass blocks, there is a reduction in power
use and thus utility bills,'' he said.
Housing Industry
Association assistant director technical services Kelvin Cuskelly agreed the
new generation of glass blocks could help consumers save on their energy bill.
``It is important
that consumers purchase from a reputable company that can hand over facts
sheets showing the energy savings of their blocks,'' he said.
Mr Cuskelly said
the blocks, which were popular about 15-20 years ago, have been reinvented and
are gaining popularity.
``The range and
availability is much greater theses days, with different shapes and many
different colours available as standard stock,'' he said. ``Many designers are
now starting to use these blocks for feature internal and external wall
construction.''
Mr Burke agreed
the glass block industry was always improving.
``There are so
many different sizes, colours, vertical walls, straight and curved glass block
floors and roof lights, and the list just goes on. They can also be used for
fire-rating and sound-proofing,'' he said.
``The big news is
the new energy-saving glass blocks which reduces the u-value from 2.8 to 1.5
which is perfect for the energy conscious home owner.''
Glass reflects
well on energy savings
Albert & Logan News: 03 December 2010
[What follows is the full text of the news story.]
HOME owners can
save on their energy costs with glass blocks and correct management of energy
use, says Glass Block Technologies founder Bill Burke.
He said renovators
and new home builders were ``cashing in'' on increased value of their homes and
energy savings with the glass blocks, which create ``walls of natural light''.
``Because of the
thermal insulation properties of glass blocks, there is a reduction in power
use and therefore savings on utility bills,'' he said.
Housing Industry
Association assistant director technical services Kelvin Cuskelly said he
agreed the ``new generation'' of glass blocks could help consumers save on
their energy bill.
``It is important
that consumers purchase from a reputable company that can hand over fact sheets
that show the energy savings of their blocks,'' he said.
Mr Cuskelly said
the blocks, which were popular about 15 to 20 years ago, have been reinvented
and are gaining popularity.
``The range and
availability is much greater these days, with different shapes and many
different colours available as standard stock,'' he said.
``Many designers
are now starting to use these blocks for feature internal wall and external
wall construction.''
Mr Burke agreed the
glass block industry was always improving.
``The big news is
the new energy saving glass block which reduces the u-value from 2.8 to 1.5,
which is perfect for the energy conscious home owner.
''These new
eco-friendly glass blocks mean that whole walls can be constructed which
provide natural light, providing tranquillity and a feeling of safety.''
People in glass
houses save energy
Northern Times (Australia): 03 December 2010
[What follows is the full text of the news story.]
HOME owners can
save on their energy costs with glass blocks and correct management of energy
use, says Glass Block Technologies founder Bill Burke.
Mr Burke said
renovators and new home builders were ``cashing in'' on the value of their
homes and the energy savings with the glass blocks, which create ``walls of
natural light''.
``Because of the
thermal insulation properties of glass blocks, there is a reduction in power
use and therefore cost savings on utility bills,'' he said.
Housing Industry
Association assistant director of technical services Kelvin Cuskelly said he
agreed the new generation of glass blocks could help consumers save on their
energy bill.
``It is important
that consumers purchase from a reputable company that can hand over facts sheets
that show the energy savings of their blocks,'' he said.
Mr Cuskelly said
the blocks, which were popular about 15 to 20 years ago, have been reinvented
and are gaining popularity.
``The range and
availability is much greater theses days, with different shapes and many
different colours available as standard stock,'' he said.
``Many designers
are now starting to use these blocks for feature internal and external wall
construction.''
Mr Burke agreed
the glass block industry was always improving.
``There are so
many different sizes, colours, vertical walls, straight and curved glass block
floors and roof lights, and the list just goes on. They can also be used for
fire-rating and sound-proofing. The big news is the new energy-saving glass
blocks,'' he said.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.03 |
|
|
1 |
Rs.76.60 |
|
Euro |
1 |
Rs.66.80 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.