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MIRA
INFORM REPORT
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Report No. : |
494587 |
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Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
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Name : |
BI
NUTRACEUTICALS, INC. |
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Registered Office : |
Registered Agent Information Corporation Service Company 251 Little Falls Drive Wilmington, New Castle DE 19808 |
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Country : |
United States |
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Financials (as on) : |
2016 |
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Date of Incorporation : |
1978 |
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Legal Form : |
Corporation |
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Line of Business : |
·
Flavoring
Syrup and Concentrate Manufacturing ·
Spice
and Extract Manufacturing ·
Medicinal
and Botanical Manufacturing ·
Drugs
and Druggists' Sundries Merchant Wholesalers ·
Other
Grocery and Related Products Merchant Wholesalers ·
Flavoring
Extracts And Syrups, Nec ·
Spices,
Including Grinding ·
Botanical
Products, Medicinal: Ground, Graded, Or Milled ·
Vitamins
And Minerals ·
Seasonings,
Sauces, And Extracts |
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No. of Employees : |
130 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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: |
BI NUTRACEUTICALS,
INC. |
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Trade Name: |
BI NUTRACEUTICALS BOTANICALS |
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ID: |
2067825 |
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Date Created: |
1978 |
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Date Incorporated: |
7/31/1985 |
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Legal Address: |
Registered Agent
Information Corporation Service
Company 251 Little Falls
Drive Wilmington, New
Castle DE 19808 USA |
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Operative Address: |
2384 East Pacifica
Place Rancho Dominguez,
CA 90220-6214 United States |
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Telephone: |
(310) 669-2100 |
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Fax: |
(310) 637-3644 |
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Legal Form: |
CORPORATION |
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Email: |
contact@botanicals.com rcornelia@botanicals.com
(Rikka Cornelia, Product Manager) |
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Registered in: |
DELAWARE |
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Website: |
www.botanicals.com
(the website is not functioning at the moment) |
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Contact: |
George Pontiakos,
President and Chief Executive Officer |
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Staff: |
130 |
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Activity: |
NAICS 1: Flavoring
Syrup and Concentrate Manufacturing NAICS 2: Spice and
Extract Manufacturing NAICS 3: Medicinal
and Botanical Manufacturing NAICS 4: Drugs and
Druggists' Sundries Merchant Wholesalers NAICS 5: Other
Grocery and Related Products Merchant Wholesalers SIC 1: Flavoring
Extracts And Syrups, Nec SIC 2: Spices,
Including Grinding SIC 3: Botanical
Products, Medicinal: Ground, Graded, Or Milled SIC 4: Vitamins And
Minerals SIC 5: Seasonings,
Sauces, And Extracts |
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BANKS: |
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The company
does not make its banking data public |
HISTORY
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The company was
founded in 1978 |
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Key Developments: |
5/12/2010 BI Nutraceuticals,
Long Beach, CA, has received organic certification for its manufacturing
facility in Islandia, NY, from Quality Assurance International (QAI). 6/01/2007 BI Nutraceuticals,
Long Beach, CA, has received Halal certification by the Islamic Foods and
Nutritional Council of America (IFANCA) for hundreds of its food and dietary
supplement ingredient offerings. 28/10/2003 BI Nutraceuticals
and Hauser Inc. Reach Agreement On Asset Sale. BI Nutraceuticals
("BI") today announced that it has reached agreement to purchase
substantially all of the assets of the dietary supplement business unit of
Hauser Inc. The transaction contemplates a purchase price of between $8.2
million and $9.2 million with deferred cash payments in excess of $1 million.
The purchase is subject to overbid and court approval by the United States
Bankruptcy Court, as Hauser Inc. and its subsidiaries filed voluntary
petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Court on
April 1, 2003. As such, the transaction could take up to 60 days to be
approved. |
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PRINCIPAL
ACTIVITY
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Bi Nutraceuticals,
Inc. is a mid-sized organization in the flavoring extract and syrup
manufacturers industry located in Rancho Dominguez, CA. |
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Products/Services
description: |
BI Nutraceuticals,
Inc. provides pharmaceuticals products. The Company offers flavoring
extracts, syrups, powders, and related products for the manufacturing of soft
drinks. BI Nutraceuticals serves customers in the United States and Canada. BI Nutraceuticals
(BI) is a supplier of plant-based ingredients in the U.S., for use in food
& beverage, dietary supplements, pharmaceuticals, personal care and pet
care products. The company manufactures and supplies products such as
plant-based powders, extracts, proteins, fibers, vitamin mineral blends, and
much more. |
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Brands: |
NA |
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Sales are: |
Wholesale |
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Clients: |
PEPSI COLA MEXICANA SA DE CV Mexico |
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Suppliers: |
HUNAN NUTRAMAX INC. China Beijing Refine
Biology Co., Ltd. China ENAT INTERNATIONAL SA DE CV Mexico Nopal Export S.A. De C.V. Mexico C.V. REMPAHSARI Indonesia |
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Operations area: |
National and
International |
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The company imports
from |
China, Mexico and
Indonesia |
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The company exports
to |
Mexico and Canada |
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The subject employs |
130 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
2384 East Pacifica
Place Rancho Dominguez, CA
90220-6214 United States |
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Comments: |
NA |
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Branches: |
The company has 4
facilities in the USA: its sales office in Rancho Dominguez, CA; primary
milling services and state-of-the-art laboratories in Reno, NV; particle
engineering in Islandia, NY and an extraction in Boonton, NJ. |
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Main Competitors |
Sunopta Fruit Group
Inc. 12128 Center St South Gate,
California 90280-8046 Primal Essence Inc. 1351 Maulhardt Ave Oxnard, California 93030-7963 Custom Ingredients,
Inc. 160 Calle Iglesia Ste 102 San Clemente, California 92672-7551 Global Future City
Holding Inc. 2 Park Plz Ste 400 Irvine, California 92614-8514 |
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Related Companies: |
The company has
vendor surveillance in Suzhou, China. |
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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: |
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: The company is a
subsidiary of: Zatpack Inc C/O Hwr Services
Limited British Virgin
Islands |
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Management: |
George Pontiakos,
President and Chief Executive Officer Ken Cleveland,
Director Tyler Blythe,
Director Christoph Kirchmer,
Chief Financial Officer Sandra Lako,
Administrator Emilio Gutierrez,
Assistant Director Alison Hudson,
Manager Matthew Overholser,
Regional Sales Manager Southeast/Intermountain, Rikka Cornelia, Product
Manager |
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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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Gross Revenue |
33,000,000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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Trademarks: |
NATURSPAN -
Trademark Details Status: 800 -
Registered And Renewed Image for trademark
with serial number 75203435 Serial
Number75203435 Registration
Number2122473 Word Mark NATURSPAN Status800 -
Registered And Renewed Status
Date2017-12-05 Filing
Date1996-11-25 Registration
Number2122473 Registration
Date1997-12-16 Mark Drawing1000 -
Typeset: Word(s)/letter(s)/number(s) Typeset Published for
Opposition Date1997-05-13 Attorney Name Brian
M. Berliner Law Office Assigned
Location CodeL50 Employee Name
CHARLON, BARNEY LAWREN ULTRAHD - Trademark
Details Status: 800 -
Registered And Renewed Image for trademark
with serial number 75906080 Serial
Number75906080 Registration
Number2535559 Word Mark ULTRAHD Status800 -
Registered And Renewed Status
Date2012-08-13 Filing
Date2000-01-28 Registration
Number2535559 Registration
Date2002-02-05 Mark Drawing1000 -
Typeset: Word(s)/letter(s)/number(s) Typeset Published for
Opposition Date2001-11-13 Attorney Name Brian
M. Berliner Law Office Assigned
Location CodeM60 Employee Name
LEIPZIG, MARC J BI NUTRACEUTICALS
HEALTHY LIVING THROUGH HEALTHY PRODUCTS - Trademark Details Status: 710 - Cancelled
- Section 8 Image for trademark
with serial number 76411069 Serial
Number76411069 Registration
Number2789598 Word Mark BI
NUTRACEUTICALS HEALTHY LIVING THROUGH HEALTHY PRODUCTS Status710 -
Cancelled - Section 8 Status
Date2010-07-10 Filing Date2002-05-23 Registration
Number2789598 Registration
Date2003-12-02 Mark Drawing1000 -
Typeset: Word(s)/letter(s)/number(s) Typeset Published for
Opposition Date2002-11-26 Attorney Name Brian
M. Berliner Law Office Assigned
Location CodeM60 Employee Name
SMITH, BRIDGETT G BI NUTRACEUTICALS
HEALTHY LIVING THROUGH HEALTHY PRODUCTS - Trademark Details Status: 710 -
Cancelled - Section 8 Image for trademark
with serial number 76411071 Serial
Number76411071 Registration
Number2789599 Word Mark BI
NUTRACEUTICALS HEALTHY LIVING THROUGH HEALTHY PRODUCTS Status710 -
Cancelled - Section 8 Status
Date2015-07-03 Filing
Date2002-05-23 Registration
Number2789599 Registration
Date2003-12-02 Mark Drawing3000 -
Illustration: Drawing or design which also includes word(s)/ letter(s)/number(s)
Typeset Design
Searches050304 - Holly leaf. Published for
Opposition Date2002-11-26 Attorney Name Brian
M. Berliner Law Office Assigned
Location CodeM60 Employee Name
SMITH, BRIDGETT G PROTEXX HERBAL
POWDERS - Trademark Details Status: 800 - Registered
And Renewed Image for trademark
with serial number 78543537 Serial
Number78543537 Registration
Number3532411 Word MarkPROTEXX
HERBAL POWDERS Status800 -
Registered And Renewed Status
Date2017-12-13 Filing
Date2005-01-06 Registration
Number3532411 Registration
Date2008-11-11 Mark Drawing4000 -
Standard character mark Typeset Published for
Opposition Date2006-06-20 Attorney NameBrian
M. Berliner Law Office Assigned
Location CodeM10 Employee
NameMILTON, PRISCILLA W |
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Lawsuits: |
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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Founded in 1978, Bi
Nutraceuticals, Inc. is a mid-sized organization in the flavoring extract and
syrup manufacturers industry located in Rancho Dominguez, CA. The company has 130
full-time employees and generates an estimated USD 33M in annual revenue. The company imports
from China, Mexico and Indonesia, and exports to Mexico and Canada, operating
within national and international markets. The company is a
subsidiary of Zatpack Inc. This has been an
ACTIVE company incorporated in DELAWARE in 1985. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW
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NAME |
Rebecca |
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POSITION |
Representative |
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COMMENTS |
She confirmed legal
name, trade name, address, telephone and principal activity. She explained that
the company´s website: www.botanicals.com is not functioning at the moment. She also confirmed
that the company has other locations in USA. She refused to
provide neither staff number nor major holders. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.23 |
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1 |
INR 89.71 |
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Euro |
1 |
INR 79.50 |
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US Dollar |
1 |
INR 65.20 |
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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DIV |
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Report Prepared
by : |
TRU |
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.