Crefo No Registration No. J21/929/1993 Tax No. RO Status Active 280 S

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1 Page 1 from 16 Company identification MIDAS & CO SRL Telephone Mihai Viteazu 2 office@midaselectronics.ro Urziceni Ialomita WEB Romania Crefo No Registration No. J21/929/1993 Tax No. RO Status Active Solvency index 280 S Solvency index between 221 and 320 means average rating. This class represents moderate risk in a business partnership. Business connections appear permissible, unsecured credits are still possible moderate credit risk. Solvency index is a very strong and capable early-alarm indicator enabling a fast assessment of solvency of business partners. The higher the solvency index, the higher the risk of default of a client. The solvency index ranges from 100, a very good rating, to 600 where highly negative characteristics are present. Solvency index history

2 Page 2 from 16 Economic situation Maximum credit limit (EUR) Business connection Business connections appear permissible (31) Payment behaviour No complaints, but occasional delays (31) Basic information Legal form Private Limited Company Registration and changes established on as MIDAS & CO SRL Private Limited Company Owners and Capital / Address / Nationality From Share Pavunev Evdochia (birth date 01/11/1937) MUNICIPIUL URZICENI, Romania Romanian 29/09/ , % Pavunev Dan (birth date 12/08/1966) MUNICIPIUL URZICENI, Romania Romanian Schuster Thomas (birth date 02/12/1964) GOTTINGEN, Romania Romanian 03/12/1993 5, % 03/12/1993 1, % Registered capital Currency Value Management

3 Page 3 from 16 / Address / Status Since Position Pavunev Dan (birth date 12/08/1966) MUNICIPIUL URZICENI Romania 03/12/1993 Administrator Subsidiaries Participation of the company Tax No. / Address Share Participations of the company RO D & P ELECTIC SERVICE SRL 99, % RO MIDAS EXPERT DISTRIBUTION SRL 30, % RO SPEDITION MIDAS SRL 100, % Connections Through / Address Position Share Pavunev Dan RO ANSTOSS ROMANIA SRL administrator and shareholder RO D & P ELECTIC SERVICE SRL administrator and shareholder RO EOLIAN EXPERT SRL administrator 4, % 1, % RO KOMPACT GRID SRL shareholder 20, % RO MIDAS WATER TECHNOLOGY S.R.L. administrator and shareholder RO SPEDITION MIDAS SRL administrator 60, % Business activities Main activity Nace Manufacture of electronic components 2611

4 Page 4 from 16 Additional activities Nace Manufacture of loaded electronic boards 2612 Economic data Turnover and Employees Date Turnover Employees , , ,4 65 Properties According to the Balance Sheet of date the company holds real estates with a book value of ,00, but we do not have any other details on the type and location of these assets. Supplementary data Banks Financial Institution Banca Comerciala Romana Branch Urziceni The subject is registered in the Electronic Archive for Secured Transactions, as having credits at: - Banca Comerciala Romana, Urziceni These credits are guaranteed with cash-flow.

5 Page 5 from 16 Main indices Payment experience and credit opinion Maximum credit limit (EUR) Business connection Business connections appear permissible (31) Payment behaviour No complaints, but occasional delays (31) Negative events According to the information registered at the Ministry of Finance, the company has no overdue debts to the State budget as of There are no records related to the subject at the Payment Incidents Bureau (CIP) in the period Balances Assets INTANGIBLE FIXED ASSETS r TANGIBLE FIXED ASSETS r CAPITAL ASSETS r FIXED ASSETS - TOTAL r INVENTORIES r RECEIVABLES r TERM INVESTMENTS r PETTY CASH AND BANK ACCOUNTS r CURRENT ASSETS - TOTAL r PREPAID EXPENSES r TOTAL ASSETS r Liabilities DAT.I: AMOUNTS THAT MUST BE PAID DURING A PERIOD OF MAX. ONE YEAR NET CURRENT ASSETS/NET CURRENT DEBTS r r TOTAL ASSETS MINUS CURRENT DEBTS r DAT.I: AMOUNTS THAT MUST BE PAID DURING A PERIOD EXCEEDING ONE YEAR r TOTAL DEBTS r

6 Page 6 from 16 PROVISIONS r DEFERRED INCOME, OF WHICH: r grants related to investments r deferred income r CAPITAL, of which: r subscribed and paid up capital r unpaid subscribed capital r assets and liabilities (public sector companies) r CAPITAL PREMIUM r REVALUATION RESERVES r RESERVES r Own shares r Earnings associated to own capital instruments r Losses associated to own capital instruments r PROFIT OR LOSS REPORTED Balance account C PROFIT OR LOSS REPORTED Balance account D PROFIT OR LOSS FINANCIAL YEAR Balance account C PROFIT OR LOSS FINANCIAL YEAR Balance account D r r r r Profit distribution r SHAREHOLDERS EQUITY - TOTAL r Public patrimony r EQUITY - TOTAL r TOTAL LIABILITIES r Profit and Loss Account Net turnover r Own work sold r Income from the sale of goods r Income from interests made by leasing r Income from grants related to income corresponding to net turnover r Balance account C r Balance account D r Production made by the entity for its own purposes and capitalized r Other operating income r TOTAL OPERATING INCOME - TOTAL r

7 Page 7 from 16 Expenses on raw materials and consumables r Other expenses for supplies and materials r Other outsourced expenses (electricity and water) r Expenses on goods r Expenses on personnel, of which: r Salaries and benefits r Insurance and social security expenses r Adjustments of the value of tangible and intangible fixed assets r Expenses r Income r Adjustments of the value of current assets r Expenses r Income r Other operating expenses r Expenses on third party services r Expenses on other taxes, duties and similar charges Expenses on compensations, donations and assigned assets Expenses with refinancing interest rates of leasing entities r r r Adjustments of provisions r Expenses r income r OPERATING EXPENSES - TOTAL r Profit r Loss r Income from participating interests, of which: r

8 Page 8 from 16 income obtained from subsidiaries r Income from other financial investments and loans which are part of intangible fixed assets, of which: r N/A income obtained from subsidiaries r N/A Income from interest rates, of which: r income obtained from subsidiaries r Other financial income r FINANCIAL INCOME - TOTAL r Value adjustments in respect of capital assets and investments as current assets r Expenses r income r Interest expenses r of which, expenses in respect of subsidiaries r Other financial expenses r FINANCIAL EXPENSES - TOTAL r Profit r Loss r Profit r N/A - Loss r N/A Extraordinary income r N/A Extraordinary expenses r N/A - Profit r N/A - Loss r N/A TOTAL INCOME r TOTAL EXPENSES r

9 Page 9 from 16 - Profit r Loss r Income tax r Other taxes which are not recorded above r Net profit r Net loss r Net result r Additional information Outstanding payments-total - TOTAL r Accounts payable outstanding - total, of which: - TOTAL r over 30 days - TOTAL r over 90 days - TOTAL r over 1 year - TOTAL r Outstanding payments to social security- total, of which: - TOTAL contributions to social security payable by employers, employees and other assimilated entities - TOTAL contributions to the social health insurance fund - TOTAL contribution to the additional state pension system - TOTAL contributions to the unemployment insurance fund - TOTAL r r r r r other social liabilities - TOTAL r Payments due to special funds and other funds - TOTAL r Payments due to other creditors - TOTAL r Taxes and fees unpaid to the public budget on the date due - TOTAL r

10 Page 10 from 16 Taxes and fees unpaid to the local budget on the date due - TOTAL Bank credits which were not reimbursed on the date due - total, of which: - TOTAL r r back payments after 30 days - TOTAL r back payments after 90 days - TOTAL r back payments after 1 year - TOTAL r Past due interest - TOTAL r Average number of employees r Specific tangible fixed assets Lands r Buildings r Technical installations and machines r Amortization r179 N/A N/A N/A Financial Ratios Debt Ratio R1 0,11 0,14 0,27 Quick ratio R2 2,95 3,06 1,97 Current ratio R3 3,53 3,63 2,15 Solvency ratio R4 0,00 0,00 0,00 Return on sales ( ROS ) R5 0,09 0,23 0,17 Return on assets ( ROA ) R6 0,08 0,24 0,16 Return on equity ( ROE ) R7 0,09 0,28 0,22 Operating margin, in (%) R8 0,11 0,17 0,13 Days supply in inventory R9 25,21 27,92 19,62 Days sales in receivables R10 67,32 34,08 92,80 Days purchase in payables R11 43,42 49,53 107,59 SALES TO TOTAL ASSETS R12 0,93 1,04 0,91 OPERATING RESULT /TOTAL ASSETS R13 0,11 0,18 0,12 CASH RATIO R14 1,40 2,38 1,11

11 Page 11 from 16 Equity as % of total assets R15 88,79 85,62 72,98 Fixed assets as % of total assets R16 57,32 45,65 37,40 Receivables as % of current assets R17 43,94 18,96 40,05 Net working capital R , ,95 784,75 Exchange rate USD 1, = 3,33 EUR 1, = 4,42 USD 1, = 3,35 EUR 1, = 4,44 USD 1, = 4,01 EUR 1, = 4,44 The credit rating index may vary farom 100 to 600 points as follows: 0 new company or no official or other information available very good good average strained weak insufficient

12 Page 12 from 16 Financial analysis Debt ratio Quick ratio r16 r11 The debt ratio calculates the proportion the total assets is financed from sources other than ones own, such as loans, suppliers or debts to the state (r9 r5) r12 Quick ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately. Current ratio ( CR ) Solvency ratio r9 r12 Reflecta capacitatea unei companii de a face fata tuturor scadentelor sale, atat pe termen scurt cat si pe termen mediu si lung. r15 r36 The solvency ratio measures the size of a company s after-tax income, excluding non-cash depreciation expenses, as compared to the firm s total debt obligations. It is the company s ability to meet long-term obligations.

13 Page 13 from 16 Return on sales (ROS) Return on assets (ROA) r152 r89 Return on sales (ROS) is net profit as a percentage of sales revenue. ROS is an indicator of profitability and is often used to compare the profitability of companies and industries of differing sizes. r152 r11 ROA measures efficiency of the business in using its assets to generate net income Return on equity (ROE) Operating margin, in % r152 r36 ROE is the ratio of net income of a business during a year to its shareholders equity during that year. It is a measure of profitability of shareholders investments. r121 r89 A financial measure of a company s performance that gives investors an idea of how long it takes a company to turn its inventory (including goods that are work in progress, if applicable) into sales.

14 Page 14 from 16 Days supply in inventory Days sales in receivables (r5 r89) 365 Approximate number of times the stock was run during the financial year. (r6 r89) 365 A financial indicator to measure how many days on average it takes to turn your accounts receivable balance into cash. Therefore it measures the efficiency of your collections policy and department. Days purchase in payables Sales to Total Assets (r12 r89) 365 A financial indicator which shows how long a company is taking to pay its trade creditors. It is typically looked at either quarterly or yearly (90 or 365 days). r89 r11 Sales to total assets (S/TA) ratio shows how much sales are generated per one of assets, or how effectively the company uses its assets.

15 Page 15 from 16 Operating result / Total assets Cash ratio r121 r11 Measures efficiency of the business in using its assets to generate net income. r8 r12 The ratio of a company s total cash and cash equivalents to its current liabilities. The cash ratio is most commonly used as a measure of company liquidity. It can therefore determine if, and how quickly, the company can repay its short-term debt. Equity as % of total assets Fixed assets as % of total assets (r36 r11) 100 The equity ratio is a financial ratio indicating the relative proportion of equity used to finance a company s assets. (r4 r11) 100 The percentage of fixed assets of total assets. Fixed assets are also known as tangible assets or property, plant, and equipment, is a term used in accounting for assets and property that cannot easily be converted into cash.

16 Page 16 from 16 Receivables as % of current assets Net working capital (r6 r9) 100 The percentage of receivables of current assets. Receivables may refer to the amount due from individuals and companies. Receivables are claims that are expected to be collected in cash. r9 r12 The formula for net working capital is used to determine the availability of a company s liquid assets by subtracting its current liabilities.