MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

INNOVA SYSTEMS AND SOLUTIONS INC

 

 

Registered Office :

Madison Square Garden, 5 Penn Plaza 23rd Floor, New York NY 10001

 

 

Country :

United States of America

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Not Available

 

 

line of business :

Software Development

 

 

No. of Employees :

55

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United States of America

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company Name & Contact Details

 

Verified

 

Company Name:

Innova Systems And Solutions Inc

Address:

Madison Square Garden, 5 Penn Plaza 23rd Floor

City:

New York

State/province:

NY

Zip/postal code:

10001

Country:

United States of America

Telephone:

+1 (646) 378 – 2069

Fax:

 

Website:

 

Remarks:

NO REGISTRATION WAS FOUND FOR PROVIDED NAME AS PER NEW YORK CORPORATE REGISTRY

 

Analysis

Opeartion was Verified

No Payment Activity Reported

No Registration was Found in New York Corpoarte Registry

No Derogatory Items on Record

 

 

Company History / Operations

 

Capital Stock:

100% by Officers

Business Structure:

 

How Listed:

Business Started:

 

 

Management Control:

2005

Line of Business:

Software Development

           Territory:       

      Sales Terms:

          Premises:

          Branches: 

Local

 

Rents Premises

 

 Affiliations / Subsidiaries:

 

 

 

 

Company Registration & Status

 

                      Date Registered:

 

Legal form:

 

Registration no:

 

Jurisdiction

 

Registry status:

 

Comments:

No Registration was Found in New York Corporate Registries

 

 

Company Management/Officers

 

 

No of Employees:

55

Name & Title:

 Samuel Smith, President

Name & Title:

Andy Patel, V President

Name & Title:

Jefferson Smith, V President

Name & Title:

Elizabeth Winslow, V President

Name & Title:

   

Name & Title:

 

 

 

Legal Findings

 

Suits:

None

Court Judgements:

None

NSF Reported:

None

 Liens / Collection:

None

Security Filings:

NO UCC Filings exist for leased equipment and assets.  These secured creditors would take precedence in the unlikely event of asset liquidation.

Trade Payment Experience

 

No Payment Activity Reported

 

 

 

Payment Behaviour:

 

 

 

Financial Information

 

FINANCIAL ACCOUNTS

 

Description

 

 

Required to file:

No

 

Source:

 

 

 

 

 

Comments

Private Companies are not required to Publish Financial Statements

 

 

Notes & Comments

 

INVESTIGATIVE NOTES

 

 

Sources:

Public

Court

Payment Exchange Data Bases

Business Registries

References & Vendors.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.99

UK Pound

1

Rs.87.55

Euro

1

Rs.68.69

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.