MIRA INFORM REPORT

Report Date :

27.09.2012

IDENTIFICATION DETAILS

Name :	7 RAVE INC

Registered Office :	82 - 2503, 24 St NW, Edmonton, Alberta, T6T0B5

Country :	Canada

Year of Establishment :	2005

Legal Form :	Corporation for Profit

Line of Business :	importation & distribution of products related to interior & exterior décor for hotels, homes & businesses

No. of Employees :	03 employees

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 :	No Complaints
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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Canada

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

canada - ECONOMIC OVERVIEW

As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada''s major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector''s tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010 and 2011 and plans to balance the budget by 2015. In addition, the country''s petroleum sector is rapidly becoming an even larger economic driver with Alberta''s oil sands significantly boosting Canada''s proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.

Source : CIA

GEOPOLITICS

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: 100.00 CAD = 102.053 USD

Branch Situation: Stable

IDENTIFICATION

Legal Name:	7 RAVE INC

Legal Address	82 - 2503, 24 St NW, Edmonton, Alberta, T6T0B5 Canada.
Operative Address	82 - 2503, 24 St NW, Edmonton, Alberta, T6T0B5 Canada.
Telephone:	+1 780 669 2750	ID :	N.A.
Fax:	+1 780 468 5594	Legal Form:	Corporation for Profit
Email:	info@7rave.com	Registered in:	Canada
Website:	http://7rave.com	Date Created:	2005
Manager:	Sanjay Mathur, Manager.	Date Incorporated:	N.A.
Staff:	3	Stock:	N.A.
		Value:	N.A.
Activity:	Importation & distribution.

BANKS

Name of the Bank

Royal Bank of Canada

BUSINESS

HISTORY
	The company was established in 2005.
PRINCIPAL ACTIVITY
	7 Rave Inc. is a Western Canadian Company, engaged in importation & distribution of products related to interior & exterior décor for hotels, homes & businesses.
Products/Services description:
	The company offers: Products: Slates Stones & Decor - Landscaping Natural Stone Granite Stones & Decor - Interior & Exterior Stone Ledge Stone in Natural Stone Second Hand Clothing Black Marble Tables Silver Furniture Wooden Carved Furniture Applique Work Wall Panels Services: Material Outsourcing Export Management Company
Sales are:
	Wholesale, Retail
Clients:
	The company serves the general public and other distributors.
Operations area:
	National
The company imports from Worldwide, depending on the demand.
The company does not export
The subject employs 3 employee(s)
Comments on staff:
	The figures were not been disclosed by the company. They were conciliated with our private sources and from a particular analysis of the company´s structure.
PAYMENTS
	Regular.
LOCATION
Headquarters
	The company is headquartered at: 82 - 2503, 24 St NW, Edmonton, Alberta, T6T0B5 Canada.
Branches:
	The company operates a warehouse at: *9229 35 Ave, Edmonton, Alberta T6E5Y1 Canada Phone: +1 780 237 7800

Shareholders

- Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. The main shareholder is the Mathur Family.
Management:
	Shermila Mathur, President. Sanjay Mathur, Manager and COO.

Financials

COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.
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. According to our financial sources, the company's annual revenue is in a range between CAD $500,000 to CAD $1 million.
Comments on the financial data: The figures were not been disclosed by the company. They were conciliated with our private sources and from a particular analysis of the company´s structure.
Legal Filings
The sources consulted record no detrimental legal or labor court information.

Rating

Local credit bureau gave a NORMAL credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

Final Opinion

The subject is a small sized Canadian company which has been operating for 7 years.

The company is active and operational.

Its business structure is small but seems to be established. It operates two locations in Canada, employs 3 people, and engages as a family owned and operated business.

The financial information indicates that it has a normal performance according to its size and activity.

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Position
	Company's female representative.
Comments
	The contacted person refused to provide information about the company. However, she verified the company's name, location and that it is operating.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.58
UK Pound	1	Rs.86.60
Euro	1	Rs.68.94

INFORMATION DETAILS

Report Prepared by :

MNL

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.