From $Twino:
TWINO Becomes a Regulated Marketplace
We have obtained an investment brokerage license from Latvia’s Financial and Capital Market Commission (FCMC), thus becoming a regulated investment platform!


$Twino Group's Consolidated Financial Statement for year 2020 has been published.

Key Figures:
Profit = € 7.4m
Assets = € 53.2m
Equity = € 16.5m
Debt = € 36.6m

RATIOS and other Figures:
Net Profit Margin (Net income/net sales) = 12,04
ROIC Earnings/Debt+BookValue (return on capital) = 13,9
ROE LY (= net income / shareholders' equity) = 44,9
ROE avg past years = 47,5
ROA LY (net income / total assets) = 13,9
ROA avg past years 13,5
Working Capital/Total Debt = 0,27
Debt-To-Equity Ratio (D/E) = 2,22
Quick Ratio LY = 1,32
Quick Ratio avg past years = 1,26
Current Ratio (CA/CL) = 1,32
Current Ratio (CA/CL) avg past year = 1,26
EPS (Earning per Share) = 14,82
Dividend Paid = € 4.1m
Dividend per share = € 8,1
Enterprise Value = € 25,8m (EV = market capitalization + market value of debt - cash and cash equivalents)

From $Twino Group's Consolidated Financial Statement:
//**30. Off-balance sheet liabilities and pledged assets**//
The Company has off-balance-sheet liabilities at the end of reporting period. The Company has entered into the Guarantee Agreement with its subsidiary SIA OC Finance, providing a guarantee of repayment of a debt that SIA OC Finance has issued to the related company SIA Kuģu 13. On the date of the preparation of this report the outstanding sum of the loan along with the accrued interest constitute EUR 1,404,298

//**33. Going concern**//
The Group’s current assets exceed its current liabilities by EUR 10,340 thousand, which however is a decrease by 39% comparing to the year end of 2019, when the Group’s current assets exceeded current liabilities by EUR 16,953 thousand.
At the end of the year 2020, the Group’s liquidity ratio was 1.33 (2019: 1.47); therefore, liquidity risk is controlled.

//**34. COVID 19 impact on the Company’s operations**//
During the months of March and April 2020, the total of funds disbursed to the investors from the platform exceeded the total of deposited funds by EUR 4.2 million; however, it is crucial to note that the Company executed the disbursement of funds deposited by each investor of the platform within two business days complying with the mutual contractual obligations.

An update from $Twino regarding the investment brokerage company license:

We expect to receive the investment brokerage company license from the FCMC at the end of August or the beginning of September. The first loans adapted to the new requirements should become available on the platform during Autumn with our Latvian loan originator being the first to undergo the changes.
There are several steps investors will have to take to be able to invest in financial instruments (Securities). While some of them are already available to you, others will be launched in the nearest time and will show up on the Dashboard page of your TWINO account’s web version.

Onfido identification. More than 12 000 individual investors have carried out the identification process with the Onfido software. If you have not completed this step, please note that after 13.08.2021 you will not be able to make new investments or add funds to your TWINO account. As for investors registered with a company account – the new identification process will become available to you in the upcoming week.

Suitability and appropriateness assessment. This is an additional layer of security for your funds to identify which of our offered products correspond to your professional and investment experience with various financial instruments, your financial situation as well as investment strategy, and risk appetite.

New User Agreement. Our legal team is working on finalizing the new agreement that will come into force once we receive the license. An overview of what’s new and a request to confirm the agreement will pop up on your Dashboard in a couple of weeks.

Know-Your-Customer (KYC) questionnaire. Since the launch of our KYC questionnaire in 2018, some of the requirements for the information we must obtain from our investors have changed or the details provided by you could be outdated, thus we will require you to fill the KYC form again.

Legal Entity Identifier (LEI) code for investors registered with a company account. Once we start offering securities on the TWINO platform, such investments will not be available for companies that do not have a valid LEI code.

Lursoft reports that $Twino has a tax debt of 85 878.03 EUR, but hard to verify it: "Currently, due to technical reasons, the current information on tax debts in the SRS Publication Database is incomplete. Those interested who urgently need up-to-date data on tax debts, please contact us by writing to [email protected]. Sorry for the inconvenience."

Comment from Twino: "TWINO AS has no tax debts to the state. These are the current state social insurance contributions (VSAOI) which the company pays each month, and this specific amount was paid yesterday. Most likely the state revenue service has not processed the payment and updated the info yet."

From #BulldogP2P: War between Russia and Ukraine could spoil the P2P party.

"Is War Between Russia And Ukraine Now Inevitable? The situation in Eastern Ukraine is critical. Russia and Ukraine are on the brink of an open armed conflict."

"On April 1, President of Ukraine, Volodymyr Zelensky, accused Russia of the increasing presence of armed forces on the borders. He said, “military exercises and possible provocations along the border are traditional Russian games.” He further said that Russia is creating a threatening atmosphere across the border while Ukraine seeks to resume a ceasefire agreement."

"Russian forces are deploying massive amounts of military hardware into #Crimea. One of the largest deployments I've seen in recent memory."

From $Twino 2019 report: "In the year end 31 December 2019, the Company's operating result was a profit of 4,435 thousand euros. As indicated in Note 34 to the financial statements, the result of the income statement for 2019 was significantly affected by non-recurring income in the amount of 8,256 thousand, the recurrence of which is not expected in the foreseeable future. Also, the Company's current liabilities as at 31 December 2019 exceed its current assets by 2,480 thousand euros. We also draw attention to the uncertainty of the economic environment related to the spread of the new coronavirus described in Note 33 of the financial statements. The scale of uncertainty, as well as the described in the previous paragraph, makes it difficult for the Company's management to forecast the development of the Company's operations in the near future."

At the same time, if we look at Twino Group consolidated report, situation looks better:

MenadiM experience with $Twino: "a short term loans can become a 7 months loan"

Bulldog P2P experience with $Twino. In short - avoid loans with currency exposure.

$Twino does not accept payments from Revolut anymore: "Unfotunately our banking partner Baltic International Bank (BIB) informed us that they no longer accept incoming payments from the e-money institution Revolut as it did not respond to the bank's KYC/AML requests about several incoming transactions. In accordance with the internal procedures of BIB, as well as the recommendations of the Financial and Capital Market Commission of Latvia, the bank cannot receive transactions from financial and payment institutions that repeatedly ignore interbank requests. To add funds to your TWINO account we kindly ask you to make a payment from your bank account in a licensed EEA bank or from a Transferwise Borderless account if you have one, as the bank still accepts Transferwise payments."

$Twino still has not published financial report for 2019, but according to their Oct 9th blog post: "a net profit of 4.4 million" was achieved for 2019.