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MIRA INFORM REPORT
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Report No. : |
496446 |
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Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
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Name : |
A.V. DIAMONDS INC. |
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Registered Office : |
7500 Bellaire Blvd., Suite 333 Houston, Tx 77036 |
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Country : |
United States |
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Financials (as on) : |
2016 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Corporation |
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Line of Business : |
The company's line of business includes the wholesale distribution of
jewelry, precious stones and metals, costume jewelry, watches, clocks, and
silverware. |
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No. of Employees : |
2 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 has 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: |
A.V. DIAMONDS INC. |
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Trade Name: |
Ultimate Bridal Source, The A. V. Diamonds |
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ID: |
17606007080 (Texas Taxpayer Number ) 0152941300 (Texas SOS File Number) |
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Date Created: |
1997 |
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Date Incorporated: |
03/26/1999 |
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Legal Address: |
7500 BELLAIRE BLVD., SUITE 333 HOUSTON, TX 77036 |
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Operative Address: |
6222 Richmond Ave Suite #700 Houston, TX 77057 |
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Telephone: |
713-270-4367 |
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Fax: |
713-271-6739 |
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Legal Form: |
CORPORATION |
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Email: |
info@avdiamond.com |
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Registered in: |
TEXAS |
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Website: |
www.avdiamond.com |
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Contact: |
DIRECTOR: AZIZ MALIK |
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Staff: |
2 |
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Activity: |
SIC Code: 5094, Jewelry, Watches, Precious
Stones, and Precious Metals NAICS Code: 423940, Jewelry, Watch,
Precious Stone, and Precious Metal Merchant Wholesalers |
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Banks
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The company does not make its banking data public |
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History
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The company was founded in 1997. |
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PRINCIPAL
ACTIVITY
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The company's line of business includes the wholesale distribution of jewelry,
precious stones and metals, costume jewelry, watches, clocks, and silverware. |
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Products/Services description: |
Jewelry, precious stones and metals, costume jewelry, watches, clocks,
and silverware. Collections: CARINA FASHION EARRING FASHION RING BOLA COLLECTION Y NECKLACE SALT & PEPPER PROMO BAND FASHION SETS HEART DESIRE GIFTS INVISIBLE EARRING SHIRO 2GETHER 4EVER MIRACLE SET PROMISE OF LOVE IBIZA TRU LUV AZUL PRINCESSA TRIO SETS 18K SEMI MOUNT AMORE MI CAPPUCCINO DIAMONDS ROSE DIAMONDS FIERO WRAPS,ENHANCERS & BANDS MARTINI SOLITAIRES EVERGREEN CLASSIC STUDS LADIES MACHINE SET BANDS MENS MACHINE SET BAND MENS CHANNEL SET BAND GOLDEN HEARTBEAT FASHION PENDANTS CLASSIC HOOP FANTASTIC VALUE ASTRID COLLECTION TRILOGY BELLERINA MICRO PAVE FASHION GIFTS FLORENZA EMERALDA MIA BELLA FOUR PRONG TENNIS BRACELETS STACKABLE BAND |
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Brands: |
The company does not have any brands. |
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Sales are: |
Wholesale |
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Clients: |
Ilusion Joyas Servicios S De Rl De Cv Mexico Diaz/Herrera/Beatriz Mexico Garcia Yturria Joyero Sa De Cv Mexico |
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Suppliers: |
CP CREATION CO. Hong Kong |
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Operations area: |
National and International |
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The company imports from |
CHINA |
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The company exports to |
MEXICO |
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The subject employs |
2 employees |
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Payments: |
Slow |
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LOCATION
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Headquarters : |
6222 Richmond Ave Suite #700 Houston, TX 77057 |
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Comments on Address: |
6222 Richmond Ave This business is located at 6222 Richmond Ave, a commercial address in
Houston, TX. The commercial property was last sold on June 19, 2006. Estimated Value The miscellaneous commercial property has an estimated value of $9.22
million USD, which places it among the most valuable 10% of commercial
properties in the area. When the building was last assessed in 2012, the
assessment value was $9.16 million USD. Property Size With 125,484 square feet of space, this building is one of the largest
commercial properties in the 77057 zip code. The average commercial property
in the area has around 2,956 square feet. |
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Branches: |
Mailing Address 10106 KLECKLEY DR HOUSTON, TX 77075-3417 |
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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: |
This is a private company. We were not able to confirm major holders. |
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Management: |
DIRECTOR: AZIZ MALIK 9929 HOMESTEAD HOUSTON, TX 77016 DIRECTOR: VINAY KOTAK 9929 HOMESTEAD HOUSTON, TX 77016 |
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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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Revenue |
200 000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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CASES |
Document in Context 06-1403 - A.V. DIAMONDS INC v. Shabbir More July 7, 2006 Judicial Publications United States Courts Opinions United States District Court Southern District of Texas Overpayments & Enforcement of Judgments 12:1730 Collection Under Contract Guaranty Shabbaz Shabbir, Defendant A.V. DIAMONDS INC, Plaintiff |
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TRADEMARKS |
PURE DIAMOND Cut diamonds; Diamond jewelry Owned by: A.V. Diamonds, Inc. Serial Number: 77774250 PRICE POINT LEADER Diamond jewelry; Jewellery Owned by: A.V. Diamonds, Inc. Serial Number: 77782523 PRICE POINT LEADER JEWELRY Owned by: A.V. Diamonds, Inc. Serial Number: 78126789 PURPLE ICE PURPLE OR BLUE GOLD DIAMOND JEWELRY Owned by: A.V. Diamonds, Inc. Serial Number: 78422584 K'ZARS BRIDAL COLLECTION DIAMOND BRIDAL RINGS Owned by: A.V. Diamonds, Inc. Serial Number: 78447198 ETERNAL BLISS Jewelry Owned by: A.V. Diamonds, Inc. Serial Number: 85307675 |
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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 1997, A. V. Diamonds Inc. is a small organization in the
jewelry and precious stone companies industry located in Houston, TX. It has 2 full time employees and generates an estimated $ 200,000 USD
in annual revenue. The company mainly imports from China. It operates nationally and
internationally. It is ACTIVE in business with medium credit risk. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Slow |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
- |
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POSITION |
- |
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COMMENTS |
The person contacted confirmed company name, address, directors and
website. He was reluctant to provide more information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.99 |
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1 |
INR 89.91 |
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Euro |
1 |
INR 80.21 |
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USD |
1 |
INR 64.89 |
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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NIY |
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Report Prepared
by : |
SYL |
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
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Company background and operations size
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Promoters / Management background
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Payment record
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Litigation against the subject
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Industry scenario / competitor analysis
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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.