MIRA INFORM REPORT

Report No. :	497415
Report Date :	16.03.2018

IDENTIFICATION DETAILS

Name :	FUN WORLD, INC.
Registered Office :	80 Voice Rd, Carle Place, New York, 11514-1514, USA
Country :	United States
Financials (as on) :	2016 [Summarized]
Date of Incorporation :	11.04.1963
Legal Form :	Corporation
Line of Business :	Subject designs, manufactures, and markets toys for Halloween, Easter, Valentine's, St. Patrick’s, Christmas, and patriotic occasions.
No. of Employees :	250

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 :	Regular
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:	FUN WORLD, INC.
Trade Name:	FUN WORLD, INC.
ID:	156142
Date Created:	1963
Date Incorporated:	APRIL 11, 1963
Legal Address:	80 Voice Rd Carle Place, New York, 11514-1514, USA
Operative Address:	80 Voice Rd Carle Place, New York, 11514-1514, USA
Telephone:	516-873-9000
Fax:	516-873-9005
Legal Form:	Corporation
Email:	Funworld@Fun-World.net
Registered in:	NEW YORK
Website:	www.fun-world.net
Contact:	Allan Geller - Director
Staff:	250
Activity:	NAICS 1: Doll, Toy, and Game Manufacturing NAICS 2: Toy and Hobby Goods and Supplies Merchant Wholesalers SIC 1: Stuffed Toys, Including Animals SIC 2: Toys And Hobby Goods And Supplies
Banks:	BANK OF AMERICA BETSON ENTERPRISES A DIV. OF H.BETTI IND. INC. GLENS FALLS NATIONAL BANK AND TRUST COMPANY BETSON ADVANCE DISTRIBUTING BETSON ENTERPRISES
History:	In April, 1963, Stanley Geller bought from his father-in-law a small seasonal import business with sales of about $500,000 per year. That was the beginning. It was a little business of Easter baskets and toys. In 1981 the third generation joined and Stanley's son, Alan Geller, started working at the company. Fun World started out working with factories in Japan and then it moved to Korea and Taiwan and Hong Kong. President Nixon opened China and the company went in. Now its factories are in China, Viet Nam and India. In 2011, Fun World became the only supplier with three generations working when Alan’s daughter Samantha joined the family of about 250 employees and a 30 person sales force.
PRINCIPAL ACTIVITY
	Fun World, Inc. designs, manufactures, and markets toys for Halloween, Easter, Valentine's, St. Patrick’s, Christmas, and patriotic occasions.
Products/Services description:	The company offers costumes, accessories, décor, light-up, makeup, masks, pumpkins, wigs, decorating eggs, baskets, Easter grass, basket wraps, fillable eggs, toys & games, card exchange and gifts.
Brands:	FUN WORLD
Sales are:	Wholesale
Clients:	Los Tres Elefantes S.A.
Suppliers:	Bunzl Raccolta S.P.A. Okama Shanghai Inc Lucky Stream Inc. Pt.Interwork Indonesia
Operations area:	National and International
The company imports from	ITALY CHINA TAIWAN INDONESIA
The company exports to	COLOMBIA
The subject employs	250 employees
Payments:	Regular
LOCATION
Headquarters :	80 VOICE RD CARLE PLACE, NEW YORK, 11514-1514, USA
Comments on Address:	-
Branches:	MANHATTAN SHOWROOM 16 Madison Square West Suites 200-201-202 New York, NY 10010, USA NORTHWEST OFFICE: 5139 NE 94th Ave. Suite F Vancouver, WA 98662, USA NORTHERN CALIFORNIA OFFICE: 2377 Gold Meadow Way, Suite 100 Gold River, CA 95670, USA
Related Companies:	Holiday Times Unlimited, Inc. Unit 07, 2ND Floor HARBOUR CENTRE TOWER 1 1 HoK CHEUNG STREET HUNG HOM, Kowloon, HK Jac-Cap Sales 5772 Melling Ave Montreal Quebec H4W 2C7 Canada
	EASTER UNLIMITED, INC. Carle Place, NY, United States
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	The company does not disclose information on shareholders. The following information has been provided by private sources and could not be confirmed: The major holder of this company is: Allan Geller
Management:	Allan Geller – Director Samantha Geller Stanley Geller
FINANCIAL INFORMATION
	The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	30 000 000
Cash Flow	Normal
LEGAL FILINGS
PATENTS	Package for a mask Patent number: 4485921 Abstract: A package for a mask having a predetermined configuration with a front convex surface and a rear concave surface in which the face of a wearer of a mask is to be positioned. The package includes a molded plastic shell having a convex surface adapted to conform to the predetermined configuration of the mask. The convex surface of the shell fits in the rear concave surface of the mask. A coupling device releasably couples the mask to the shell so that the front concave surface of the mask is exposed. The plastic shell may include an extension which permits the package to be suspended from a support for display in a store. Type: Grant Filed: December 12, 1983 Date of Patent: December 4, 1984 Assignee: Fun World, a division of Easter Unlimited, Inc. Inventor: Stanley Geller
GOVERNMENT CONTRACTS	No records found.
CASES	Stein v. Fun World, Inc. et al Plaintiff: Eliot Stein Defendant: Easter Unlimited, Inc. and Fun World, Inc. Case Number: 2:2016cv07190 Filed: December 30, 2016 Court: New York Eastern District Court Office: Central Islip Office Referring Judge: A. Kathleen Tomlinson Presiding Judge: Leonard D. Wexler Nature of Suit: Trademark Cause of Action: 15:1125 Trademark Infringement (Lanham Act) Jury Demanded By: Plaintiff SILVERTOP ASSOCIATES, INC. v. FUN WORLD, INC. Plaintiff: SILVERTOP ASSOCIATES, INC. Defendant: FUN WORLD, INC. Case Number: 1:2012cv03048 Filed: May 22, 2012 Court: New Jersey District Court Office: Camden Office County: Camden Presiding Judge: Joseph E. Irenas Referring Judge: Karen M. Williams Nature of Suit: Copyrights Cause of Action: 17:501 Jury Demanded By: None
TRADEMARKS	KITTY COED GIRL DOLLS Owned by: FUN WORLD, INC. Serial Number: 72328694
RENEWAL HISTORY	Filing Date Name Type Entity Name FEB 13, 1969 Actual FUN WORLD, INC. APR 11, 1963 Actual S. ROSENBERG CO., INC.
UCC	Debtor Names: FUN WORLD, INC. 127 CANADA STREET, LAKE GEORGE, NY 12845-0000, USA Secured Party Names: BETSON ENTERPRISES A DIV. OF H.BETTI IND. INC. 303 PATERSON PLANK ROAD, CARLSTADT, NJ 07072-0000, USA File no. File Date Lapse Date Filing Type 019034 01/24/2002 01/24/2007 Financing Statement Debtor Names: FUN WORLD 127 CANADA STREET , LAKE GEORGE, NY 12845, USA Secured Party Names: GLENS FALLS NATIONAL BANK AND TRUST COMPANY 250 GLEN STREET , GLENS FALLS, NY 12801, USA File no. File Date Lapse Date Filing Type 200902195162151 02/19/2009 02/19/2014 Financing Statement Debtor Names: FUN WORLD 127 CANADA STREET, LAKE GEORGE , NY 12845, USA Secured Party Names: BETSON ADVANCE DISTRIBUTING 6743 THOMPSON ROAD, SYRACUSE , NY 13211, USA File no. File Date Lapse Date Filing Type 201212198445304 12/19/2012 12/19/2017 Financing Statement Debtor Names: FUN WORLD 127 CANADA STREET, LAKE GEORGE, NY 12845, USA Secured Party Names: BETSON ENTERPRISES 303 PATERSON PLANK ROAD, CARLSTADT, NJ 07072, USA File no. File Date Lapse Date Filing Type 201306138244660 06/13/2013 06/13/2018 Financing Statement
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
	Founded in 1963, in Fun World, Inc. is a mature organization in the doll and stuffed toy manufacturers industry located in Carle Place, NY. The company has 250 regular employees. It operates nationally and internationally, mainly exporting to Colombia. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Lorraine
POSITION	Operations
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 Director. She was reluctant to provide financial information.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.94
UK Pound	1	INR 90.72
Euro	1	INR 80.32
US Dollar	1	INR 64.92

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TPT

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.