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DISQUALIFICATION
Final score ≤30 following application of RF5 (platform without licence) and RF10 (rate 15.5% without registered real guarantee). Net B score = 5/75, final score = 4.0/100.
À propos
Participatory loan of 12 months at 15.5%/year funded by platform FF Forest, based in Riga (Latvia). The project finances acquisition of deforested forest land in Lithuania, harvesting, reforestation and resale of agricultural parcels. The declared guarantee is forest land registered in the Lithuanian commercial register.
Plateforme · 1.0/25
A1 · Statut réglementaire
0.0/8faible
- AMF status not disclosed ('?')
- No identifiable agrément AMF, ECSP, statut réglementaire CIP, IFP or equivalent EU licence in the registers consulted
- RESEARCH REQUIRED: AMF register 'ff forest' + registre ORIAS + ESMA
- Score 0/8 by principle of prudence
- Would trigger RF5 (−10 pts) on any associated project
A2 · Track Record
0.0/6faible
- No identifiable published statistics: default rate N/C, delay rate >90d N/C, actual vs announced return N/C
- Penalty −2 pts applied + all base scores at 0
- RESEARCH REQUIRED: 'ff forest' statistics platform default delay
A3 · Rigueur de sélection
0.0/4faible
- No information on project selection process, selection rate, committee or borrower KYC identifiable
- RESEARCH REQUIRED: 'ff forest' project selection process
A4 · Santé financière
0.0/4faible
- No information on the financial health, shareholding or history of the platform
- Impossible to confirm the legal existence of 'ff forest' in the available registers
- Score 0 by prudence
A5 · Protection investisseurs
1.0/3faible
- No agrément AMF/ECSP licence confirmed, therefore no automatic attribution of the regulatory point
- 1 pt awarded as minimal hypothetical credit if legal existence subsequently confirmed
- RESEARCH REQUIRED: ff forest general conditions, fund segregation, secondary market
Projet · 19.0/75
(22.0 brut, red flags −3)
B1 · Instrument & Structure
4.0/10faible
B1.1: 2/5 - obligation convertible/loan without clear documentation, hybrid instrument
B1.2: 2/3 - Direct issuer FF Forest, Lithuanian/Latvian law mentioned
B1.3: 0/2 - Rank not formally registered; forest guarantee not inscribed as mortgage
B2 · Opérateur & Track record
3.0/15faible
B2.1: 1/4 - Mention 'Morgan Yvon Charles D.' without function or verifiable public profile
B2.2: 0/5 - No documented forestry/agricultural experience for the operator
B2.3: 0/3 - No history on this platform or other
B2.4: 2/3 - No procedure found but verification incomplete
B3 · Garanties & Sûretés
4.0/15faible
B3.1: 2/9 - Forest land guarantee declared, registration in Lithuanian commercial register, without verifiable registered notarial mortgage
B3.2: 1/4 - Guarantor FF Forest without published financial data
B3.3: 0/2 - No banking partner identified on this project
B4 · Structure financière
4.0/15faible
B4.1: 0/5 - Loan-to-Value (ratio prêt/valeur actif) not calculable, machinery/land collateral not valued; forest land value not provided
B4.2: 1/4 - Own contribution not documented, total dependency on crowdfunding visible
B4.3: 1/4 - No stress test, Loan-to-Value (ratio prêt/valeur actif) undetermined
B4.4: 2/2 - Model of resale of agricultural parcels with rising market in Latvia/Lithuania
B5 · Pré-commercialisation
1.0/10faible
- No crop sale contract or CAP documented
- Model based on future parcel resale without firm commitment
- Portfolio data not communicated
- First cycle apparent
B6 · Permis & Maturité
3.0/5
- Declared forestry activity established, registration in Lithuanian commercial register mentioned
- Complete legal documents not verifiable
- Legal structure partially documented
B7 · Marché & Localisation
3.0/3✓ max
- Score adjusted thanks to live data: Latvian/Lithuanian agricultural market rising (land +2.5x over 10 years, harvest +16.1% in 2024)
- Strong agricultural land demand, rising trend confirmed
⚠ Alertes détectées · −3 pts déduits
Plateforme non régulée
Déjà comptabilisé dans le score plateforme (A1)
FF Forest platform without any verifiable PSFP/ECSP/CIP/IFP licence - −10 pts
Rendement élevé sans garantie réelle
−3 pts
Rate served 15.5%/year without registered real guarantee (formalized mortgage or pledge absent) - −3 pts
Points forts
Lithuanian/Latvian forestry and agricultural market in documented growth.
Mention of registration in Lithuanian commercial register.
Early exit option at 6 months with reduced rate.
Buyback guarantee declared by the operator.
Operational partners (Timbro, Apply) named in the file.
Risques identifiés
Platform without identifiable regulatory licence (PSFP, ECSP, CIP or EU equivalent).
Operator poorly identifiable: named director without public profile or verifiable experience.
Forest guarantee not formalized by registered mortgage; value not evaluated.
No financial data of the operator nor repayment history on the platform.
Geopolitical uncertainties (Russia-Ukraine conflict) affecting Baltic agricultural exports.
⚠ Avertissement sur les risques
Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.