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MIRA INFORM REPORT
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Report No. : |
493284 |
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Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PROOF RESEARCH, INC. |
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Registered Office : |
Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE,
19801, USA |
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Country : |
United States |
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Date of Incorporation : |
2010 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject engages in the design, manufacture, and sale of rifles and
barrels. |
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No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
PROOF RESEARCH, INC. |
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Trade Names: |
PROOF RESEARCH, INC. PROOF RESEARCH LONE WOLF GUN STOCK JENSE PRECISION FIREARMS |
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ID: |
4915597 |
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Date Created: |
2010 |
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Date Incorporated: |
1/7/2011 |
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Legal Address: |
Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE,
19801, USA |
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Operative Address: |
10 Western Village Ln Columbia Falls, Montana 59912-9090 United States |
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Telephone: |
406-756-9290 |
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Fax: |
406-756-9291 |
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Legal Form: |
Corporation |
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Email: |
- |
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Registered in: |
DELAWARE |
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Website: |
www.proofresearch.com |
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Contact: |
Larry Murphy – Chief Executive Officer |
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Staff: |
40 |
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Activity: |
NAICS 1: Small Arms, Ordnance, and Ordnance Accessories Manufacturing SIC 1: Small Arms |
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Banks: |
BANK OF AMERICA |
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History: |
The company was founded in 2010 and is based in Kalispell, Montana. |
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PRINCIPAL
ACTIVITY
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Proof Research, Inc. engages in the design, manufacture, and sale of
rifles and barrels. |
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Products/Services description: |
It specializes in manufacturing lightweight and bolt-action hunting,
tactical, and AR-style rifles. |
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Brands: |
SWITCH SUMMIT TERMINUS TAC II |
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Sales are: |
Retail |
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Clients: |
Private Customers |
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Suppliers: |
Mollart Engineering Ltd Ssab Emea Ab |
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Operations area: |
National |
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The company imports from |
UNITED KINGDOM SWEDEN |
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The company exports to |
No export found. |
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The subject employs |
40 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
10 Western Village Ln Columbia Falls, Montana 59912-9090 United States |
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Comments on Address: |
This business is located at 10 Western Village Ln, a commercial
address in Columbia Falls, MT. The commercial property was last sold on
December 31, 2009. The commercial property has an estimated value of $207,444 USD, which
is slightly above average for commercial properties in the area. When the
building was last assessed in 2011, the assessment value was $200,718 USD. |
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Branches: |
No other branches were found. |
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Related Companies: |
No related companies were found. |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose information on shareholders. We were not
able to confirm major holders. |
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Management: |
Larry Murphy – Chief Executive Officer Derek McDonald – Chief Marketing Officer |
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FINANCIAL
INFORMATION
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The company does not make its financial
statements public. The following information has been provided by private
sources: |
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USD 2016 |
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Sales |
4.500.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
HIGH TEMPERATURE COMPOSITE PROJECTILE BARREL Publication number: 20160209143 Abstract: A composite projectile barrel is disclosed comprising a polymer
matrix composite outer shell that accommodates higher temperature loading. In
one embodiment, the invention comprises an outer shell fabricated from carbon
fibers and polyimide resin having a glass transition temperature greater than
500° F. In another embodiment, the resin mixture includes a plurality of
sizes of aluminum particles, between about 0.1 microns and 10.0 microns in
diameter and of approximately spherical shape, as a thermal conductive
additive. Type: Application Filed: August 28, 2014 Publication date: July 21, 2016 Applicant: Proof Research, Inc. Inventors: David B. Curliss, Jason E. Lincoln, Michael K. Degerness |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
Proof Research, Inc. v. McGowen Precision Barrels, LLC Plaintiff: Proof Research, Inc. Defendant: McGowen Precision Barrels, LLC Case Number: 9:2017cv00173 Filed: December 15, 2017 Court: Montana District Court Office: Missoula Office County: MISSOULA Presiding Judge: Dana L. Christensen Nature of Suit: Trademark Cause of Action: 15:1114 Jury Demanded By: Plaintiff |
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TRADEMARKS |
PROOF Gun barrels; Gun stocks; Guns; Hunting rifles; Military rifles; Rifle
barrels; Rifles; Sporting rifles Owned by: Proof Research, Inc. Serial Number: 85973443 PROOF RESEARCH Gun barrels; Gun stocks; Guns; Hunting rifles; Military rifles; Rifle
barrels; Rifles; Sporting rifles Owned by: Proof Research, Inc. Serial Number: 85974743 PROOF Gun barrels; Gun stocks; Guns; Hunting rifles; Military rifles; Rifle
barrels; Rifles; Sporting rifles Owned by: Proof Research, Inc. Serial Number: 86065783 CAMGAS Gun barrels; Guns; Rifle barrels; Rifles; Hunting rifles; Military
rifles; Sporting rifles Owned by: Proof Research, Inc. Serial Number: 87260402 CAMGAS [CALIBER MATCHED GAS SYSTEM] Gun barrels; Guns; Rifle barrels; Rifles; Hunting rifles; Military
rifles; Sporting rifles Owned by: Proof Research, Inc. Serial Number: 87260456 |
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RENEWAL HISTORY |
No records found. |
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UCC |
No records found. |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
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Proof Research, Inc. is a mid-sized organization in the small arms
manufacturers industry located in Columbia Falls, MT. It opened its doors in 2010 and now has an estimated $4.5 million in
yearly revenue and 40 employees. The company operates nationally, mainly importing from United Kingdom
and Sweden. It is ACTIVE in business with no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Kelly |
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POSITION |
Sales |
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COMMENTS |
She confirmed the name of the company, the address of the headquarters
and location, the date of creation of the company, the number of employees
and the name of the Chief Executive Officer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.82 |
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1 |
INR 90.40 |
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Euro |
1 |
INR 79.76 |
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US Dollar |
1 |
INR 64.71 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.