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Report No. : |
321888 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
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Name : |
CRAILAR TECHNOLOGIES INC. |
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Registered Office : |
4420 Chartterton Way, Ste 305 Victoria, British Columbia V8X 5J2 |
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Country : |
Canada |
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Date of Incorporation : |
06.10.1998 |
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Legal Form : |
Public Company (TSX = CL) |
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Line of Business : |
Subject is engaged in the technological development and natural
sustainable fibers business. |
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No. of Employee : |
27 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Canada |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
Your order on: CRALLAR
TECHNOLOGIES INC
The correct name is:
Company name: CRAILAR
TECHNOLOGIES INC.
Address: 4420 Chartterton Way,
Ste 305
Victoria, British Columbia V8X
5J2 - Canada
Telephone: +1
250-658-8582
Fax: +1
Website: www.crailar.com
Corporate ID#: BC-0000572867
State: British Columbia
Judicial form: Public Company (TSX = CL)
Date incorporated: October
6, 1998
Stock: 66,378,003
shares issued and outstanding (as of 05-18-2015)
Market Value: CAD 16,262,611=
Name of manager: Lesley
HAYES
Business:
Crailar Technologies Inc., a development stage company, engages in the
technological development and natural sustainable fibers business.
It primarily produces natural and proprietary CRAiLAR Flax fibers
targeted at the natural yarn and textile industries, as well as the deployment
of its CRAiLAR processing technologies in the cellulose pulp and composites
industries.
The company develops CRAiLAR Fiber for textiles, which is flax, hemp, or
other sustainable bast fiber available in various blends, textures, colors, and
applications; and CRAiLAR technologies for the processing of cellulose-based
fibers as a dissolving pulp for use in the additives, ethers, and performance
apparel markets.
It also focuses on processing CRAiLAR shive and seed products.
The company was formerly known as Naturally Advanced Technologies Inc.
and changed its name to Crailar Technologies Inc. in October 2012.
Crailar Technologies Inc. was founded in 1998 and is headquartered in
Victoria, Canada.
No name of foreign suppliers available.
Staff: 27
Operations & branches:
At the headquarters, we
find the corporate office.
Shareholders:
The Company is listed with
the TSX under symbol CL.
Management:
Ms. Lesley HAYES has been an Chief Executive Officer of Crailar
Technologies Inc. since November 12, 2014.
Ms. Hayes served as a Vice President of Communications at Crailar
Technologies Inc, (formerly, Naturally Advanced Technologies Inc. and Hemp town
Clothing Inc) since December 15, 2000. until February 20, 2004. Ms. Hayes is a
Self-employed Management Consultant since 2002. Ms. Hayes' responsibilities
included marketing, business development, production and management of a staff
of eight. Ms. Hayes was founder and President of Electra slide Corporation from
1987 to 1992. From 1996 to 1999, Ms. Hayes was self-employed as an investor
relations consultant Ms. Hayes served as a Vice President of Operations at
Vicom Multimedia Inc., from 1992 to 1996 and served as its General Manager of
Calgary. Her responsibilities included management of the Calgary operation and
development, marketing and management of new products. Ms. Hayes left Vicom in
1997. From 1997 to 1999, Ms. Hayes was the founder and President of Capital
Influence Investor Relations. Ms. Hayes delivered front line and strategic
services to clients in the real estate, manufacturing, mining and corporate
communications sectors. From 1999 to 2002, Ms. Hayes served as Practice Manager
of Creative Services of Burntsand Inc. (TSE: BRT). Her role was to design and
build a new department and revenue stream for Hemp town Clothing Inc. Her
responsibilities and duties also included marketing and partner relations for
Western Canada and delivery of client engagements in L.A., Houston, Vancouver,
New York and Calgary. Ms. Hayes also led an internal project to upgrade,
redesign and 'Webify' all internal Burntsand systems and processes including
the roll out of the Balanced Scorecard.
Ms. Hayes also provides contract facilitation and training in the USA.
and Canada through the International Young Entrepreneur Organization
("YEO").
She has been the Non Executive Chairperson of Crailar Technologies Inc,
since November 06, 2013 and has been its Member of Advisory Board since 2006.
Ms. Hayes has been a Director of Northern Abitibi Mining Corp. (TSE:NAI)
since December 6, 1996. Ms. Hayes has been a Member of the
Calgary Chapter of YEO for over 10 years, and served on the Calgary
Board for YEO for 5 years. She served as Director of Tyler Resources Inc.,
since February 11,1997. Ms. Hayes has been a Director of No Drama Media Inc.
providing business consultancy services since 2002. She served as a Director of
Crailar Technologies Inc, since December 15, 2000 and also served as Director
of Vicom. Ms. Hayes attended the Alberta College of Art in 1983 taking courses
in Visual Communications as well as attended Sheridan College in 1984 taking
courses in Computer Graphics.
Ms. Hayes completed the Canadian Securities Course in 1997 and worked in
investor relations for 4 years.
She completed three masters level accounting courses, Financial
Accounting, Managerial Accounting and Operations Accounting as part of the
process of completing her MBA through the University of Calgary/University of
Alberta joint MBA program.
Theodore S. SANDERS Jr. is the CFO.
As far as we know, they are involved in other corporations, including:
CRAILAR FIBER TECHNOLOGIES INC.
Incorporated in British Columbia on April 5, 2005
ID# BC-0000720882
On 05/12/2015, Crailar Technologies Inc. announced that they will be
unable to file their next 10-Q by the deadline required by the SEC.
On April 13,2015, CRAiLAR Technologies Inc. reported consolidated
earnings results for the full year ended December 27, 2014.
For the year, the company reported net loss of $14,172,000 against
$15,170,000 a year ago. Revenues were $4,196,000 against $587,000 a year ago.
Basic and diluted loss per share was $0.25 against $0.34 a year ago. LBITDA was
$10,825,000 against $12,256,000 a year ago. Adjusted LBITDA was $3,417,000
against $5,957,000 a year ago. Net cash used in operating activities was
$9,850,000 against $8,081,000 a year ago. Purchase of property and equipment
was $1,558,000 against $3,908,000 a year ago. Acquisition of intangible assets
was $24,000 against $89,000 a year ago.
Loss before taxes was $14,371,000 against $15,170,000 a year ago. For
the fourth quarter of 2014, the company reported write down of plant and
equipment of $7,491,000.
Banks: Scotia Bank
…
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several