MIRA INFORM REPORT

Report Date :

02.01.2013

IDENTIFICATION DETAILS

Name :	TECHNOLOGY TRANSFER LIMITED LIABILITY COMPANY
Registered Office :	Shestidesyatiletiya Oktyabrya prosp., 9, bldg. 2, Moscow, 117312, Russian Federation
Country :	Russia
Financials (as on) :	01.01.2011
Date of Incorporation :	19.06.2007
Com. Reg. No.:	5077746955292
Legal Form :	OOO (Limited Liability Company by Russian Law)
Line of Business :	Wholesale trade in tools, processing equipment, means of individual protection, special equipment, expendables.
No. of Employees :	15

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 :	Moderate
Payment Behaviour :	Slow
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 (31.03.2011)	Current Rating (30.06.2012)
Russia	A2	A2

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

RUSSIA - ECONOMIC OVERVIEW

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy to a more market-based and globally-integrated economy. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy and defense-related sectors. The protection of property rights is still weak and the private sector remains subject to heavy state interference. Russian industry is primarily split between globally-competitive commodity producers. In 2011, Russia became the world's leading oil producer, surpassing Saudi Arabia; Russia is the second-largest producer of natural gas; Russia holds the world's largest natural gas reserves, the second-largest coal reserves, and the eighth-largest crude oil reserves. Russia is the third-largest exporter of both steel and primary aluminum. Other less competitive heavy industries remain dependent on the Russian domestic market. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the highly volatile swings in global commodity prices. The government since 2007 has embarked on an ambitious program to reduce this dependency and build up the country's high technology sectors, but with few results so far. The economy had averaged 7% growth in the decade following the 1998 Russian financial crisis, resulting in a doubling of real disposable incomes and the emergence of a middle class. The Russian economy, however, was one of the hardest hit by the 2008-09 global economic crisis as oil prices plummeted and the foreign credits that Russian banks and firms relied on dried up. According to the World Bank the government's anti-crisis package in 2008-09 amounted to roughly 6.7% of GDP. The Central Bank of Russia spent one-third of its $600 billion international reserves, the world's third largest, in late 2008 to slow the devaluation of the ruble. The government also devoted $200 billion in a rescue plan to increase liquidity in the banking sector and aid Russian firms unable to roll over large foreign debts coming due. The economic decline bottomed out in mid-2009 and the economy began to grow in the third quarter of 2009. However, a severe drought and fires in central Russia reduced agricultural output, prompting a ban on grain exports for part of the year, and slowed growth in other sectors such as manufacturing and retail trade. High oil prices buoyed Russian growth in 2011 and helped Russia reduce the budget deficit inherited from the lean years of 2008-09. Russia has reduced unemployment since 2009 and has made progress on reducing inflation since 2010. Russia's long-term challenges include a shrinking workforce, a high level of corruption, difficulty in accessing capital for smaller, non-energy companies, and poor infrastructure in need of large investments.

Source : CIA

Comments

Information

The address, the telephone numbers and the e-mail mentioned in your inquiry belong to the company Obschestvo s ogranichennoy otvetstvennostyu "TEKHNOLODZHI TRANSFER" (name in English: "TECHNOLOGY TRANSFER" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "TEKHNOLODZHI TRANSFER"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	2007
Sales	57 457 th RUR for 12 months, ended 01.01.2011
Employees	15 on December, 29, 2012 (company's data)

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "TEKHNOLODZHI TRANSFER"
Short Name	OOO "TEKHNOLODZHI TRANSFER"
Name in English	"TECHNOLOGY TRANSFER" LIMITED LIABILITY COMPANY
Address	Shestidesyatiletiya Oktyabrya prosp., 9, bldg. 2, Moscow, 117312, Russian Federation
Legal Address	Shestidesyatiletiya Oktyabrya prosp., 9, bldg. 2, Moscow, 117312, Russian Federation
Phone	+7 (495) 2213204, 2213205
Fax	+7 (495) 2213204, 2213205
E-mail	info@t-transfer.com
WEB Address	www.t-transfer.com /under construction/

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	19.06.2007
Registration Number	5077746955292
Statistic Code (OKPO)	81429162
Taxpayer Code (INN)	7728624977
Registration Authority	Federal Tax Service of Russian Federation

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "TEKHNOLODZHI TRANSFER" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

10 000 RUR

Shareholders

Total	1 private person
Shareholder	Mr Em Aleksandr Eliksovich
Nationality	Russian Federation
Taxpayer Code (INN)	773602703200
Share	100 %

Directors

Director	Mr Valia Amardip Singh
	Signature Right
Nationality	India
Comments	The names of foreign director of the company may be pointed incorrectly as in official documents (extracts from register) they’re written in Russian by cyrillic letters. We present our apologies for possible mistakes in transliteration.

Re-Registration Data

Date of Registration	19.06.2007
	(Entering into the Single State Register of Legal Entities)
Registration Number	5077746955292
Registration Authority	Federal Tax Service of Russian Federation
Date of Re-registration	31.12.2009
File Number	9097748335489
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules

Operations

Activities	Wholesale trade in tools, processing equipment, means of individual protection, special equipment, expendables.
Staff Employed	15 on December, 29, 2012 (company's data)

Real Estate

Own	none
Rent	Office, warehouse Address: Shestidesyatiletiya Oktyabrya prosp., 9, bldg. 2, Moscow, 117312, Russian Federation (company's data)

Export & Import

Export Countries	2008-2011, for 3 months 2012: No Export Activity
Exported Goods	none
Export Value	none
Import Countries	2008-2011, for 3 months 2012: No Import Activity
Imported Goods	none
Import Value	none

Branches

Branch

None

Participation

Information

None

Related Companies

Information

Mr Em Aleksandr Eliksovich is also a shareholder of companies: OOO "INTERENERGO" Registration number: 1047796964313 ZAO "INTREK-ENERGO" Registration number: 1087746363605 ZAO "ISTOK-RESURS" Registration number: 1037739137534 OOO "KARBON-SHUNGIT INTERNEYSHNL" Registration number: 1067746201797 OOO "KARBON-SHUNGIT TREYD" Registration number: 5077746955215 Mr Valia Amardip Singh is also a shareholder of companies: OOO "KARBON-SHUNGIT INTERNEYSHNL" Registration number: 1067746201797 OOO "KARBON-SHUNGIT TREYD" Registration number: 5077746955215

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12
Ended	01.01.2011	01.01.2010
Currency	RUR	RUR
SALES	57457	8119
Cost of Goods sold	53816	6180
GROSS PROFIT	3641	1939
Distribution Costs
Management Costs	2257	1891
OPERATING PROFIT	1384	48
Non Trading Income
PRE TAX PROFIT	1384	48
Taxation	277	10
PROFIT AFTER TAX	1107	38

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2011	01.01.2010
Currency	RUR	RUR
TOTAL FIXED ASSETS	206
Intangible Assets
Fixed Assets	206
TOTAL CURRENT ASSETS	14035	731
Stock	2444
Trade debtors	8055	190
Cash	2531	541
TOTAL ASSETS	14241	731
TOTAL EQUITY	1168	40
Share Capital	10	10
Retained Profits	1158	30
TOTAL LONG TERM LIABS	9508	1838
Long Term Loans	9508	1838
TOTAL CURRENT LIABS	3565	-1147
Short Term Loans
Short Term Trade Creditors	3565	-1147
TOTAL EQUITY & LIABS	14241	731

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2011	01.01.2010
Current Ratio	3,94	-0,64
Working Capital, x1000 RUR	10470	1878
Quick Ratio	3,25	-0,64
Debt to Equity Ratio	11,19	17,28
Current Assets Turnover	4,09	11,11
Total Assets Turnover Ratio	4,03	11,11
Pre Tax Profit Margin, %	2,41	0,59
Gross Profit, %	6,34	23,88
Return on Investment, %	118,49	120
Return on Assets, %	9,72	6,57

Actions at law

The information of Arbitration court of Moscow about judicial claims is presented

Date of registration 09.12.2011

Registration number A55-29189/2011

Plaintiff OOO "TEKHNOLODZHI TRANSFER"

Defendant OAO "VOLZHSKAYA TERRITORIAL'NAYA GENERIRUYUSCHAYA KOMPANIYA"

Claim sum 1 259 453 RUR

Claim category Default of obligations under the contract

Date of registration 18.08.2011

Registration number A40-91491/2011

Plaintiff OOO "TEKHNOLODZHI TRANSFER"

Defendant OOO "TOM'ENERGOSNAB"

Claim sum 350 067 RUR

Claim category Default of obligations under the contract

Date of registration 29.02.2012

Registration number A40-35011/2012

Plaintiff OAO "VYKSUNSKIY METALLURGICHESKIY ZAVOD"

Defendant OOO "TEKHNOLODZHI TRANSFER"

Claim sum 41 363 USD

Claim category Default of obligations under the contract

Publications

Date 2012

Source The Federal Tax Service of Russian Federation

Text of Publication The Federal Tax Service of Russian Federation has published the information that the Mr Em Aleksandr Eliksovich (as private person) doesn't have not paid taxes.

Financial Data

We couldn’t get the financial data on the company of 2011 year, because there weren’t company’s financial data of 2011 year in the Federal Statistics Service of Russian Federation.

Original Financial Data (Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2010	as at 01.01.2011
I. NON-CURRENT ASSETS
Intangible assets	110	-	-
Fixed assets	120	-	206
Construction in progress	130	-	-
Income-bearing investments in tangible assets	135	-	-
Long-term financial investments	140	-	-
Deferred tax assets	145	-	-
Other non-current assets	150	-	-
Total section I	190	-	206
II. CURRENT ASSETS
Inventories	210	-	2444
including :
raw materials and other inventories	211	-	-
livestock	212	-	-
work in progress	213	-	-
finished goods and goods for resale	214	-	2444
goods dispatched	215	-	-
expenses related to future periods	216	-	-
other supplies and expenditures	217	-	-
Value added tax on purchased goods	220	-	-
Accounts receivable (payments expected beyond 12 months after the reporting date)	230	-	-
including :
buyers and customers	231	-	-
Accounts receivable (payments expected within 12 months after the reporting date)	240	190	8055
including :
buyers and customers	241	174	6436
Short-term investments	250	-	1005
Monetary assets	260	541	2531
Other current assets	270	-	-
Total section II	290	731	14035
TOTAL SECTIONS I and II	300	731	14241
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	10	10
Treasury shares	411	-	-
Additional capital	420	-	-
Legal reserve	430	-	-
including :
reserves and provisions formed in  accordance with legislation	431	-	-
reserves formed in accordance  with foundation documents	432	-	-
Retained earnings (loss)	470	30	1158
Total section III	490	40	1168
IV. NON-CURRENT LIABILITIES
Borrowings	510	1838	9508
Deferred tax liabilities	515	-	-
Other non-current liabilities	520	-	-
Total section IV	590	1838	9508
V. CURRENT LIABILITIES
Borrowings	610	-	-
Accounts payable	620	-1147	3565
including :
suppliers and contractors	621	-1188	2223
salaries payable	622	-	-
payable to state non-budget funds	623	-	100
taxes payable	624	40	253
other creditors	625	1	989
Dividends payable to participants (shareholders)	630	-	-
Income of future periods	640	-	-
Reserves for future expenses and payments	650	-	-
Other current liabilities	660	-	-
Total section V	690	-1147	3565
TOTAL SECTIONS III,IV,V	700	731	14241

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2011	01.01.2010
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	57457	8119
Cost of goods, products, work, services sold	020	53816	6180
Gross profit	029	3641	1939
Selling expenses	030	-	-
Administrative expenses	040	2257	1891
Profit (loss) from operations	050	1384	48
OTHER INCOME AND EXPENSES
Interest income	060	-	-
Interest expenses	070	-	-
Income from investments in other companies	080	-	-
Other operating income	090	-	1
Other operating expenses	100	-	1
Non-operating income	120	-	-
Non-operating expenses	130	-	-
Profit (loss) before profit tax	140	1384	48
Deferred tax assets	141	-	-
Deferred tax liabilities	142	-	-
Current profit tax	150	277	10
Net profit (loss) for the reporting period	190	1107	38

Additional information about related companies

Below is presented the extended information about the related companies of subject company.

Name	ZAO "ISTOK-RESURS"
Registration Number	1037739137534
Taxpayer code (INN)	7710269930

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12	12
Ended	01.01.2012	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR	RUR
SALES	2581	2022	2097	16909
Cost of Goods sold	2171	1874	1582	14208
GROSS PROFIT	410	148	514	2701
Distribution Costs				49
Management Costs	348	953	1642	2721
OPERATING PROFIT	62	-805	-1128	-69
Non Trading Income	-21	-19	-63	78
PRE TAX PROFIT	41	-824	-1191	9
Taxation	8			2
PROFIT AFTER TAX	6	-824	-1191	7

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2012	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR	RUR
TOTAL FIXED ASSETS	359	449	539	632
Intangible Assets
Fixed Assets	359	449	539	632
TOTAL CURRENT ASSETS	8106	5890	4598	5138
Stock	1965	1903	1903	2558
Trade debtors	5203	3791	2390	2293
Cash	47		1	45
TOTAL ASSETS	8465	6339	5137	5770
TOTAL EQUITY	-1864	-1758	-934	257
Share Capital	30	30	30	30
Retained Profits	-1897	-1791	-967	224
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	10329	8097	6071	5513
Short Term Loans	370		533
Short Term Trade Creditors	9882	8097	5538	5513
TOTAL EQUITY & LIABS	8465	6339	5137	5770

Rates of Exchange

RUR - Russian Rouble	01.01.2012:   1 EUR = 41.67 RUR,   1 USD = 32.19 RUR
EUR - EURO	01.01.2011:   1 EUR = 40.49 RUR,   1 USD = 30.35 RUR
USD - US Dollar	01.01.2010:   1 EUR = 43.46 RUR,   1 USD = 30.19 RUR

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.83
UK Pound	1	Rs.89.22
Euro	1	Rs.72.48

INFORMATION DETAILS

Report Prepared by :

PRL

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.