MIRA INFORM REPORT

 

 

Report No. :

320893

Report Date :

07.05.2015

 

IDENTIFICATION DETAILS

 

Name :

COGNISENS ATHLETICS INC.

 

 

Registered Office :

5186 Cote-des-Neiges, Bureau 4, Montreal, Quebec H3T 1X8

 

 

Country :

Canada

 

 

Date of Incorporation :

21.05.2010

 

 

Legal Form :

Federal Corporation – Profit

 

 

Line of Business :

Subject is a sports neuroscience company that develops cutting- edge technologies to assess and condition perceptual-cognitive abilities for athletes.

 

 

No. of Employees :

11

 

 

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 but correct

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and high 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 merchandise exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its abundant 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 early intervention by the Bank of Canada and the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-14 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly expanding, because Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada now ranks third in the world in proved oil reserves behind Saudi Arabia and Venezuela.

 

Source : CIA

 


Company SUMMARY

 

Company name:            ATHLETIQUES COGNISENS INC. (in French)

COGNISENS ATHLETICS INC. (in English)

 

Address:                                   5186 Cote-des-Neiges, Bureau 4, Montreal, Quebec H3T 1X8 –

                                    Canada

 

Telephone:                    +1 519-266-6881

 

Fax:                              +1 866-281-3376

 

Website:                       www.cognisensathletics.com

 

 

Corporate ID#:              7543808

 

State:                           Federal

 

 

Judicial form:                Federal Corporation – Profit

 

Date incorporated:        05-21-2010

 

Stock:                            -

 

Value:                            -

 

 

Name of manager:   Jean T. CASTONGUAY

 

 

ACTIVITIES & OPERATIONS

 

IST

 

Business:

 

CogniSens Athletics is a sports neuroscience company that develops cutting- edge technologies to assess and condition perceptual-cognitive abilities for athletes. These have been established and validated at the highest levels of elite sports, including NFL, NHL, EPL and NBA.

The Company is partnered with the world-leading Visual Psychophysics & Perception Laboratory at the University of Montreal, headed by Dr. Faubert, the Chief Science Officer of the Company.

 

 

No name of foreign suppliers available.

 

 

Staff:    11

 

 

Operations & branches:

 

At the headquarters, we find the corporate office.

 

 

SHAREHOLDERS & MANAGERS

 

Shareholders:

 

COGNISENS, INC.

5186 Cote-des-Neiges, Bureau 4

Montreal, Quebec H3T 1X8 - Canada

 

 

Management:

 

Jean T. CASTONGUAY is the President.

He serves as President, Director and CEO of CogniSens Inc. and Cognisens Neuromedical Inc.

He serves also as a Director of Caisse d'economie Desjardins des employe(e)s du Secteur industriel (Montreal).

 

Jocelyn Faubert - Chief Science Officer

Clive Hooton - Chief Financial Officer

Adam Lorton - Director of Operations

 

As far as we know, they are involved in other corporations, including:

- CogniSens Inc.

- Cognisens Neuromedical Inc.

 

 

FINANCIALS

 

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

 

On a direct call, a financial assistant controlled the present report but deferred any financials.

We sent a fax but no answer received.

 

Outside sources (bank) gave estimate sales for year 2014 in the range of

CAD 1,600,000=

 

The business is said to be profitable.

 

Banks:  Banque de Montreal                 

           

 

 

LEGAL FILINGS

 

Legal filings & complaints:

 

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

 

 

Secured debts summary:   None

 

 

COMPANY CREDIT HISTORY

 

Trade references:

 

Date reported:               March 2015

High credit:                   CAD 5,000

Now owing:                   0

Past due:                      0

Last purchase:              February 2015

Line of business:           Office supply

Paying status:               8 days beyond terms

 

Date reported:               March 2015

High credit:                   CAD 18,000

Now owing:                   0

Past due:                      0

Last purchase:              February 2015

Line of business:           Payroll

Paying status:               As agreed

 

Date reported:               March 2015

High credit:                               CAD 300

Now owing:                   0

Past due:                      0

Last purchase:              February 2015

Line of business:           Telecommunications

Paying status:               6 days beyond terms

 

 

Domestic credit history:

 

National Credit Bureaus gave a medium credit risk.

 

According to our credit analysts, during the last 6 months, domestic payments were made with an average of 5 to 10 days beyond terms

 

 

Other comments:

 

The Company maintains its business.

 

The bank confirmed late payments and a low cash flow.

 

The Company is in good standing.

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

Last report was filed on 09-25-2013.

 

The risk is medium.

 

 

Our opinion:

 

A business connection may be conducted but we suggest you to check regularly the way of payments.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.63.64

UK Pound

1

Rs.96.81

Euro

1

Rs.71.51

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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.