MIRA INFORM REPORT

Report No. :	349564
Report Date :	20.11.2015

IDENTIFICATION DETAILS

Name :	BIOIMPACT IMPEX SRL
Registered Office :	Bucharest, 12 Topolovat Street, Bl. TD22, Sc. 1, Ap. 24, Sector 6
Country :	Romania
Financials (as on) :	31.12.2014
Date of Incorporation :	November 2013
Legal Form :	Limited Liability Company
Line of Business :	Subject is trading with edibles, drinks and tobacco.
No. of Employee :	Not Available

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Romania	B1	B1

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

ROMANIA - ECONOMIC OVERVIEW

Romania, which joined the EU on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. Romania's macroeconomic gains have only recently started to spur creation of a middle class and to address Romania's widespread poverty. Corruption and red tape continue to permeate the business environment. In the aftermath of the global financial crisis, Romania signed on to a $26 billion emergency assistance package from the IMF, the EU, and other international lenders, but GDP contracted until 2011. In March 2011, Romania and the IMF/EU/World Bank signed a 24-month precautionary stand-by agreement, worth $6.6 billion, to promote fiscal discipline, encourage progress on structural reforms, and strengthen financial sector stability. In September 2013, Romanian authorities and the IMF/EU agreed to a follow-on precautionary two-year stand-by agreement, worth $5.4 billion, to continue with reforms, although Bucharest has announced that it does not intend to draw funds under the agreement. Economic growth rebounded in 2013, driven by strong industrial exports and an excellent agricultural harvest, and the current account deficit was reduced substantially. The economy closed out 2014 with 2.8% growth, down from the 3.5% posted in 2013. Industry outperformed other sectors of the economy. Exports remained the engine of economic growth, led by trade with the EU, which accounts for roughly 70% of Romania trade. In 2014, the Government of Romania succeeded in meeting its annual target for the budget deficit, the external deficit remained low, and inflation was the lowest since 1989, allowing a gradual loosening of the monetary policy throughout the year. However, progress on structural reforms has been uneven and the economy still is vulnerable to external shocks. An ageing population, weak domestic demand, tax evasion, and insufficient health-care represent the top vulnerabilities.

Source : CIA

NAME OF THE COMPANY

BIOIMPACT IMPEX SRL

Address

Bucharest, 12 Topolovat Street, Bl. TD22, Sc. 1, Ap. 24, Sector 6

Phone no.

Cell phone no.

0040-31-4212714

0040-722-950007

Fax no.

0040-722-950007

Web-site

-

E-mail address

-

HISTORIC/OFFICIAL DATA

Date of foundation

November 2013

Present legal form

Limited liability company, joint venture of Romanian and foreign capital

Registered with the Trade Registry

J40/14488/2013

VAT no.

32506511

Registered capital

200 RON (minimum value of the share capital requested by the Romanian law as for a limited liability company)

Shareholders

Individuals

1. Toma Beatrice-Florentina – Romanian citizen, born on 23.07.1973

Participation

50%

2. Muhammad Farooq – Pakistani & Finnish citizen, born on 19.09.1972 in Pakistan

Participation

50%

Obligation to publish

According to the Romanian Financial Legislation, subject company is obliged to lodge with the Ministry of Public Finance its half-yearly accounts

EMPLOYEES

EMPLOYEES

2014

30.06.2015

total

Not declared

Not declared

BUSINESS ACTIVITY

According to the National Trade Registry updated files

- intermediary activities in trading with edibles, drinks and tobacco (NACE: 4617)

Work-shop: Ilfov county, Bragadiru, 60 Alexandriei Avenue

OTHER PARTICIPATION

1. Company’s participation

not applicable

2. Shareholders other participation

Toma Beatrice-Florentina

BETTY DENT SRL

Reg. no.: J40/3758/2004, VAT 16217724

Muhammad Farooq

FAMAS PROSPER 2010 SRL

Reg. no.: J40/1542/2010, VAT 26521886

TANGIBLES*

9,181 RON, at 30.06.2015

*According to the accounting standards, for the middle of the year the company is not obliged to detail its tangible assets. Therefore, the real estates are included in “Tangibles” position among the other assets

BANKS

n/a

MANAGEMENT

as officially registered with the National Trade Registry

Muhammad Farooq – Administrator

Appointed on 22.11.2013 for unlimited period

CURRENCY

Exchange rate of EURO

1 EURO = 4.4847 RON on 31.12.2013

1 EURO = 4.3888 RON on 30.06.2014

1 EURO = 4.4821 RON on 31.12.2014

1 EURO = 4.4735 RON on 30.06.2015

FINANCIAL DATA: RON

BALANCE SHEET	31.12.2014	30.06.2015
INTANGIBLES - TOTAL	1,318	1,318
TANGIBLES - TOTAL	10,637	9,181
FINANCIALS - TOTAL	0	0
FIXED ASSETS - TOTAL	11,955	10,499
STOCKS - TOTAL	15,635	18,940
CLAIMS - TOTAL	16,065	17,305
CURRENT ASSETS	112,121	133,355
PREPAID EXPENSES	0	0
DEBTS WITHIN 1 YEAR	31,130	66,408
DEBTS OVER 1 YEAR	357	357
PROVISIONS	0	0
ADVANCED INCOMES	0	0
REGISTERED CAPITAL	200	200
RESERVES from reassessment of the fixed assets	0	0
RESERVES	0	0
PROFITS CARRIED FORWARD	0	92,389
NET RESULT - PROFIT	92,389	0
NET RESULT - LOSS	0	7,586
NET WORTH	92,589	85,003
PROFIT & LOSS ACCOUNT	31.12.2014	30.06.2015
Turnover	231,020	27,225
Own production & services	N/A	N/A
Sales	N/A	N/A
INCOMES FROM ORDINARY OPERATING ACTIVITY	231,020	27,225
Raw materials	N/A	N/A
Costs of goods sold	N/A	N/A
Wages	N/A	N/A
Depreciations & provisions	N/A	N/A
Other operating costs	N/A	N/A
COSTS OF ORDINARY OPERATING ACTIVITY	131,754	33,995
ORDINARY OPERATING RESULT - PROFIT	99,266	0
ORDINARY OPERATING RESULT - LOSS	0	6,770
FINANCIAL INCOMES	313	0
FINANCIAL COSTS	327	0
FINANCIAL RESULT - PROFIT	0	0
FINANCIAL RESULT - LOSS	14	0
CURRENT RESULT - PROFIT	99,252	0
CURRENT RESULT - LOSS	0	6,770
Extraordinary incomes	0	0
Extraordinary costs	0	0
EXTRAORDINARY RESULT - PROFIT	0	0
EXTRAORDINARY RESULT - LOSS	0	0
TOTAL INCOMES	231,333	27,225
TOTAL COSTS	132,081	33,995
PRETAX RESULT - PROFIT	99,252	0
PRETAX RESULT - LOSS	0	6,770
TAX ON PROFIT	0	0
Other taxes	6,863	816
NET RESULT - PROFIT	92,389	0
NET RESULT - LOSS	0	7,586

N.B.: any difference occurred between former reports and the present one regarding some positions of the “Balance Sheet” or P/L Account for previous periods does not belong to us.

The financial data from this report are the ones officially declared by the subject with the Ministry of Public Finance data basis for 30.06.2015. As consequence, the responsibility for their accuracy belongs exclusively to the company.

OUR OPINION

based upon financial figures reported in the latest balance-sheet – 30.06.2015

- all figures are reported in RON if otherwise not specified.

Size

Undetermined due to the lack of employees number

Position & trend

Being established just in November 2013, company is still very young in business. Financial statements available reveal a very low start in business, with variable returns. Anyway, for the moment there are insufficient data in order to express any credit opinion or financial analysis or any other judgment regarding the company’s future evolution .

We suggest you a maximum prudence in dealing business with the subject and also, to review this company at a later date.

31.12.2014

30.06.2015

Turnover

RON

231,020

27,225

EURO

51,543

6,086

Gross profit

RON

99,252

-6,770

EURO

22,144

-1,513

Net profit

RON

92,389

-7,586

EURO

20,613

-1,696

30.06.2015

CREDITS & LOANS (ACTIVE BALANCE)

N/A

BALANCE CLAIMS-DEBTS

Negative

Total claims, no further details available

17,305

Total debts

66,765

- Short term, no further details available

66,408

- Medium term, no further details available

357

PAYMENTS BEHAVIOR

delays registered

Total overdue of

28,190

To the State Budget

28,190

PAYMENTS INCIDENTS, as

officially recorded with the Payment Incident Bureau

No incidents recorded during 12.11.2014 – 12.11.2015

BLACKLISTING (international sanctions)

Not applicable

FINANCIAL STRENGTH

34,000 EURO

FIRM’S RATING

Undetermined yet

RISK CATEGORY

High

BUSINESS RELATIONS

Under secured terms

2014

30.06.2015

Liquidity ratios

- current ratio

3.60

2.01

- quick ratio

3.10

1.72

Solvability ratio

- the borrowing ratio (total debts/net worth)

0.34

0.79

Profitability ratios (%)

- return on capital

99.78

losses

- return on assets

74.46

losses

- gross profit margin

42.96

losses

Activity ratios

- debtor’s days

25

232

- creditor’s days

n/a

n/a

Stocks turnover, times/period

15

1

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.11
UK Pound	1	Rs.101.03
Euro	1	Rs.70.78

INFORMATION DETAILS

Analysis Done by :	HEE
Report Prepared by :	ASH

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.