MIRA INFORM REPORT

Report Date :

07.05.2013

IDENTIFICATION DETAILS

Name :	GOLD LINE TELEMANAGEMENT INC.
Registered Office :	300 Allstate Parkway, Markham, Ontario L3R 0P2
Country :	Canada
Date of Incorporation :	10.06.1993
Legal Form :	Corporation – Profit
Line of Business :	distributes prepaid phone cards and long distance services
No. of Employees :	300

RATING & COMMENTS

MIRA’s Rating :

Ba

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 – March 31^st 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Canada	A1	A1

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 2010-12 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

Company name & address

Your order on: GROUP OF GOLD LINE

This is a trade mark registered in Ontario on December 14, 2001 under ID# TM-1125255, owned by:

Company name: GOLD LINE TELEMANAGEMENT INC.

Address: 300 Allstate Parkway, Markham, Ontario L3R 0P2 - Canada

Telephone: +1 905-709-3570

Fax: +1 905-709-2135

Website: www.groupofgoldline.com

COMPANY SUMMARY

Corporate ID#: ON-0001032798

State: Ontario

Judicial form: Corporation – Profit

Date incorporated: June 10, 1993

Stock: -

Value: -

Name of manager: Ata MOEINI

ACTIVITIES & OPERATIONS

IST

Business:

Gold Line Telemanagement, Inc. distributes prepaid phone cards and long distance services in Canada. It develops and implements marketing programs for Group of Gold Line's products and services.

The company is based in Richmond Hill, Canada.

Gold Line Telemanagement, Inc. operates as a subsidiary of Group of Goldline Inc.

Products include:

GLWiZ (Web-based television)
GLPrint (Web-to-Print turnkey solution)
GLMobility (A reliable, excellent signal quality, international mobile phone)
GLNumber (Local, virtual phone numbers in over 130 countries worldwide)
GLPhone (VoIP communication which is cost effective and easy)
eLiveLearning (Flexible, convenient and interactive online learning worldwide)

Staff: 300

Operations & branches:

At the headquarters, we find the corporate office, on lease.

The Company maintains a branch located:

4595 Canada Way, Unit 110
Burnaby, British Columbia V5G 1J9, Canada
Ph: 604-293-1000
Fx: 604-293-1210

SHAREHOLDERS & MANAGERS

Shareholders:

GROUP OF GOLD LINE INC.

300 Allstate Parkway, Markham, Ontario L3R 0P2

Incorporated in Ontario on 07-20-2007

ID# ON-0002143039

Management:

Ata MOEINI, President, Director and CEO

Neda MOEINI, Vice President and Director

Subsidiaries And partnership:

None

FINANCIALS

In Canada, privately held corporations are not required to publish any financials.

On a direct call, nobody accepted to answer our questions.

We sent a fax but no answer received.

However, sales estimate for year 2012 is in the range of CAD 32,000,000=

The business is said to be profitable.

Banks: Canadian Imperial Bank of Commerce

LEGAL FILINGS

Legal filings & complaints:

As of today date, there is no legal filing pending with the Courts.

Secured debts summary (UCC): None

COMPANY CREDIT HISTORY

Domestic credit history:

National Credit Bureaus gave a satisfying credit rating.

Other comments:

The Company maintains its business.

The bank confirmed a regular business.

The Company is in good standing.

This means that all local and federal taxes were paid on due date.

The risk is low.

Our opinion:

A business connection may be conducted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.95
UK Pound	1	Rs.84.03
Euro	1	Rs.70.72

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.