Dec 11, 2020Liked by Kristaps Mors

Dear Mr.Mors and your blog readers,

I waited for this article to be published and did not reply to your email questions as I wanted to bring clear view of Meza Energija and leave place for no doubts and speculations from my words.

Our company is 1st FSC FM 100% certified company in Latvia, by now with 18 employees, what brings together every willing private forest owner to join more sustainable forestry, by now our community have 196 forest owners, growing monthly and they valuate service we provide – before knowing us they had forest ‘’somewhere’’ in Latvia, and the best thing was not to touch it as it is comfortable due to lack of knowledge, after joining our community they have visited their forests, learned new things that they didn’t know before, had a possibility see every process of forestry(survey, planning, cutting, planting, reconstruction of non-working reclamation, etc.). Although after sharing their experience with their friends, who approach us afterwards as our work is our business card.

Before we became certified company, 7 months in year 2019 to get written procedure and mechanism of our community group, 3 month for meeting an auditors, visiting forests, etc. to finally in November 2019 we get our FSC FM 100% certifificate. Meanwhile working on attracting forest owners. You mention 640k turnover and losses, yes, true! But why not to mention year 2020 where having turnover ~2.4milion eur, and approximate 10% profit after expenses! With expected growth of 1.5x in 2021.

In year 2020 we did have opportunity to become a supplier of wood chips to one of the biggest heating plants in Europe, because we were able to provide our vision of having such contract volumes, we are doing good - 2 vessels have sailed, 3 more on the way in beginning of 2021.

Wondering about 19 year of experience is possible, if not knowing that we were born in foresters’ family, and already by age of 6 we were in our family forests helping our parents to cultivate new planted forests. Now we will think that we should change our experience to more than 45years, as our father in age of 60 is Meza Energija head of forestry department.

We are not proud of having tax debt of 40k by now, but we are proud that since complete lockdown March 2019 – Juny 2019 we provided job places for every employee and did not fire any employee, and if we had to make hardest decision by that time pay salary or taxes – We will do the same, and tax office respects our decision as we are in close communication with them. Our value is our employees which are in the same passion for the work as I am. But also, good to mention that since November we are paying all actual taxes and covering delayed ones.

Ivo always was more interested in computers and IT than I, he did a lot for Meza Energija IT, GPS systems, and always solved every task for more automated and easier every day live for all of us. So, it led to having knowledge of forestry and IT, having a possibility to create his own platform Crowdlendio, which will be meant for supporting forestry sector in Baltics, in my opinion it is fascinating that he never stops creating and working, so I have no doubt that it is right decision use his mind and knowledge. Also good for every investor to have possibility to join platform runed by known person.

Nobody is happy when failed to fulfil promises or payment terms, neither do I, so we have met with Crowdestor Janis multiple times, discussed solution for late payments, and I am incredibly happy that Janis not only listened to our story but also heard our story. Contracts concluded, Operative financial data for 2020 had been provided, and all this information were delivered to investors. So, I do believe that investors will be way happier seeing company who had several hard months, in situation nobody even dreamed about, is not throwing away work have been done. We do not aim to become Crowdestor success story, but we are sure we will not let down them, as since October, November repayments have been done, and more on the way in December.

Sometimes instead of spreading rumours is wiser to come and have a chat with me in our forests.

Have a peaceful Christmas time,

Artis Šteinbergs

Meza Energija SIA

Member of the Board

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Dec 11, 2020Liked by Kristaps Mors

1) in link to www.sudzibas.lv in first comment it mentions "his insolvent brother". Maybe the guy is under formal insolvency proceedings, then personal guarantee is worth zilch.

2) developers listed in Crowdlendio "About us" section look totally legit :)

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Dec 11, 2020Liked by Kristaps Mors

Just as addition, maybe the years of experience actually come from Artis Šteinbergs. He also is related to SIA "Sārlāni" (44101031354) that is registered on the same address as "Meza Energija" SIA, and is in business since a long time. The location seems to contain light industry, small warehousing and some offices. As I don't speak Latvian and in a quick search not much really pops-up, the most prominent comment I could find is at https://www.sudzibas.lv/sarlani/sarlani-sia-mezizstrade-meza-ipasumu-iegade-un-novertesana-bez-maksas-krapsana-c436256 (and I have no idea how reliable that comment is).

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Interesting overview. I'm pretty confident some of your doubts are legit. I'm also a bit disturbed regarding Crowdestor. In turbulent times as we now have, much more solid companies in financial sector are struggling to keep themselves afloat. And there you have Crowdestor with highly speculative investment opportunities saying just: "had a bumpy ride in 2020". Wtf? :D

I guess one solid combination people should avoid is:

• Investing in crowdfunding - peer to businesses (P2B) that are run from LV and registred in EE?

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