MIRA INFORM REPORT

Report No. :	506800
Report Date :	28.04.2018

IDENTIFICATION DETAILS

Name :	DIFFERENCE JEWELRY, LLC
Registered Office :	C/O Mclaughlin & Stern, Llc, Registered Agent Attn: Martin J. Friedman, Esq., 260 Madison Avenue, 18th Floor, New York, New York, 10016
Country :	United States
Financials as on :	2016
Date of Incorporation :	2001
Legal Form :	Domestic Limited Liability Company
Line of Business :	· Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers · All Other Support Services · Other Business Services
No. of Employees :	15

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United States	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

UNITED STATES - ECONOMIC OVERVIEW

The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.

In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.

Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.

The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.

Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.

The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.

Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.

In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.

In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.

In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.

Source : CIA

STATUTORY INFORMATION
Legal Name:	DIFFERENCE JEWELRY, LLC
Trade Name:	DIFFERENCE INC
ID:	3227993
Date Created:	2001
Date Incorporated:	JULY 07, 2005
Legal Address:	C/O Mclaughlin & Stern, Llc, Registered Agent Attn: Martin J. Friedman, Esq. 260 Madison Avenue, 18th Floor New York, New York, 10016 USA
Operative Address:	145 E 48th St Apt 28g New York, NY, 10017 United States
Telephone:	(888) 370- 9993
Fax:	(888) 370- 9993
Legal Form:	Domestic Limited Liability Company
Email:	support@differenceinc.com
Registered in:	NEW YORK
Website:	www.differenceinc.com
Contact:	Malini Shah, Owner and President Nileash Shah, Chief Financial Officer
Staff:	15
Activity:	NAICS 1: Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers NAICS 2: All Other Support Services SIC 1: Jewelry SIC 2: Other Business Services
BANKS
The company does not make its banking data public
HISTORY
The company was founded in 2001 by Malini Shah.
PRINCIPAL ACTIVITY
Difference Jewelry, Llc is a small organization in the jewelry and precious stone companies industry located in New York, NY.
Products/Services description:	Jewelry Gold earring Bridal jewelry Semi Mount Ring Wedding band Lonely ring Three stones ring Eternity Band Gold wedding band Solitary earring Fashion jewelry Reflection for her Reflection for them Chisel for him Chisel Ring Amore La Vita Diamonds Round Princess Asscher Cushion Pear Emerald Radiant Oval Marquise Heart
Brands:	NA
Sales are:	Wholesale and Retail
Clients:	National companies and the community in general
Suppliers:	Silvan Srl Italy
Operations area:	National
The company imports from	Italy
The subject employs	15 employees
Payments:	No Complaints
LOCATION
Headquarters :	145 E 48th St Apt 28g New York, NY, 10017 United States
Comments:	NA
Branches:	The company does not have branches
Main Competitors	MJ Accessories Inc. 121 W 27Th St Ste 304 Pearl Palmer 792 Columbus Ave Apt 2t Moda Diamonds Inc. 76 W 47th St Pearl Seaport 299 Pearl St Lucky G&M Fashion Jewelry 1265 Broadway Frnt C
Related Companies:	NA
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. The company does not disclose information on shareholders. The following information has been obtained through private sources and could not be confirmed: Malini Shah
Management:	Malini Shah, Owner and President Nileash Shah, Chief Financial Officer Elizabeth Dooley, Manager
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	1,600,000
Cash flow	Normal
LEGAL FILINGS
Filling History	Filing Date Name Type Entity Name JUL 07, 2005 Actual DIFFERENCE JEWELRY, LLC
Cases	No found
UCC	No records found
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
Founded in 2001, Difference Jewelry, Llc is a small organization in the jewelry and precious stone companies industry located in New York, NY. The company has 15 full-time employees and generates an estimated USD 1.6 million in annual revenue. The company imports from Italy, operating within national markets. This has been an ACTIVE company incorporated in NEW YORK in 2005.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	NA
POSITION	NA
COMMENTS	Despite we called the company several times, it did not answer, so we could not confirm further information.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89
US Dollar	1	INR 66.62

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	SYL

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.