Forest Project 20260089 — 16.7%/an · 24 mois

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 · 16.0/75 (19.0 brut, red flags −3)

B1 · Instrument & Structure 3.0/10faible

B1.1: 2/5 - Instrument not clearly qualified, hybrid 'loan/bond' with buyback

B1.2: 0/3 - Lithuanian/Latvian law, applicable law not specified in file

B1.3: 1/2 - No known senior debt but ranking not formally recorded

B2 · Opérateur & Track record 3.0/15faible

B2.1: 1/4 - Only 'Morgan Yvon Charles D.' mentioned without verifiable public profile, FF Forest entity lacks transparency

B2.2: 1/5 - First documented operation, no proven forestry track record

B2.3: 0/3 - No known repaid operation

B2.4: 1/3 - Company not traceable in consulted EU registers, financial statements unknown

B3 · Garanties & Sûretés 4.0/15faible

B3.1: 4/9 - Forest land guarantee registered in Lithuanian commercial register; no formally documented first-rank mortgage

B3.2: 0/4 - Guarantor soundness not assessable, no financial statements available

B3.3: 0/2 - No banking partner identified, project <€2M (not RF2)

B4 · Structure financière 3.0/15faible

B4.1: 2/5 - Loan-to-Value (ratio prêt/valeur actif) not calculable, land collateral present but valuation absent; prudence 2/5

B4.2: 0/4 - No documented equity contribution

B4.3: 0/4 - No stress test presented, Loan-to-Value (ratio prêt/valeur actif) unknown

B4.4: 1/2 - Forestry model with carbon revenues plus resale, but financial data absent

B5 · Pré-commercialisation 2.0/10faible

No harvest sales contract or CAP subsidy documented
Launch with named partners (Timbro, Apply) but without history
Portfolio data not communicated
2/10 by prudence

B6 · Permis & Maturité 2.0/5faible

Forestry activity underway (24% funded, launch June 2026), commercial register registration mentioned, but forestry licences and operating permits not documented in file

B7 · Marché & Localisation 2.0/3

Latvian agricultural/forestry market rising (land +2.5x over 10 years, harvest +16% in 2024)
Positive trend confirmed by live data
Score adjusted through live data: rising market → 2/3 (Russia-Ukraine geopolitical risks limit score to 2)

Points forts

✓Land guarantee registered in Lithuanian commercial register with blockchain traceability.

✓Early exit option at 6 and 12 months documented.

✓Latvian agricultural/forestry market in sustained growth (2024 data).

✓Named operational partners (Timbro, Apply) with sector specialisation.

Risques identifiés

!No identifiable regulator licence (PSFP/ECSP/CIP/IFP) for FF Forest - major regulatory risk.

!Rate of 16.7%/year without verifiable first-rank recorded mortgage - RF10 triggered.

!Operator and manager not traceable in consulted official EU registers.

!No financial data (balance sheet, equity, gearing) available on FF Forest.

!Geopolitical risks linked to Russia-Ukraine conflict affecting Baltic agricultural exports.