Invest in the World's First FAN-OWNED Movie Studio

Legion M has two classes of stock: Common Class A is what we sell to investors (including in this offering), and Common Class B is what founders, employees and advisors earn as “sweat equity”.

Both classes have the exact same financial terms (i.e. there are no financial preferences), which means your shares are treated the same as those owned by the founders, insiders, and celebrity advisors like William Shatner. We’re all in the same boat!

All of Legion M’s regulatory filings, including audited annual financial reports, can be found on the SEC’s website. For your convenience, we also maintain an Investor Relations Page that links directly to all of our most recent filings.

We are raising up to $3,750,000 via Reg CF in this offering.

When you invest in Legion M, you are buying shares of stock. It’s like buying stock in Disney or Netflix – not today, but before their IPO. Back when they were small enough nobody knew if they would succeed or fail.

You are investing alongside the founders (who work at below-market salaries in exchange for "sweat equity"), high-profile advisors like William Shatner and Dean Devlin (who help the company for free in exchange for stock options), and over 50,000 other investors who have collectively invested more $22 million dollars in the company. All of us have the exact same upside -- the value of the stock.

Our goal is to grow Legion M large enough to IPO or have an exit that allows you to sell your shares – hopefully at a huge profit because you got in so early. The risk is that if the company fails and goes out of business, your stock will be worth nothing more than a tax write-off. For a more detailed response, please check out this post “What is the ROI of an Legion M Investment”.

Shares will be awarded after your investment funds clear and either the round ends or “rolling close” occurs. This typically takes around 3 weeks after investment, but in some cases can take longer or shorter.

No, costs are the same, regardless of how you invest.

There’s no way to know if Legion M – or any startup for that matter – will succeed. Most startups fail, and what Legion M is attempting has never been done before. That’s the risk.

If we’re successful, we believe Legion M could become one of the most influential companies in Hollywood. And if that happens, there is potential for substantial returns. That’s the reward.

We – the founders – are betting our money, reputations, and careers that Legion M will succeed. Ultimately it’s up to you – the investor – to decide if you would like to join us.

What Legion M is attempting was never possible before The JOBS Act (a set disruptive new securities laws that enabled “equity crowdfunding”) went into effect. We founded Legion M because we believed the JOBS Act – which changed securities laws that had been on the books since the Great Depression – created a once-in-a-lifetime opportunity.

We launched our first equity crowdfunding campaign early on the morning of May 16th, 2016 – the day Regulation CF went into effect. This made Legion M one of the very first companies to launch an equity crowdfunding round in the United States.

Since then, we’ve grown to become one of the largest companies in JOBS Act history.

Proceeds from this round will be used to fund our operations, grow our community, level up our capabilities, and support the development of new film and TV projects.

Our long-term goal is to unite 1 million shareholders. This is an ambitious goal, and we expect it will take many rounds to achieve. That said, if we achieve this goal, we believe it could make us one of the most influential companies in Hollywood.

Legion M’s valuation (i.e. the share price multiplied by the number of shares outstanding) at the beginning of this offering was $89MM. We believe this valuation – and the amount of money we’ve raised over our history – is comparable to a VC-backed company that has completed a series A and is in the middle of a series B.

Both of our founders have experience founding and growing successful startups. Both took large pay-cuts when they founded the company, and are working at salaries far below (i.e. half or less) what their peers make. Their upside is the same as yours – the value of the stock.

If all the proceeds of this offering were spent on operating expenses (e.g. and not spent on film and TV projects or marketing expenses), we would expect the proceeds to fund operations for 12 - 24 months.

That said, film and TV is a capital intensive industry, and as a company whose strength comes from the size of its community, our goal is to increase the size of our shareholder base. As such, we expect to have additional offering(s) this year, though we expect the terms of those offerings will be different than the terms offered in this one.

While there are many potential exits if Legion M succeeds, we expect the most likely would be an IPO or direct listing. Predicting if/when that will occur is difficult, because it depends on factors currently outside our control. Rather than “chasing an exit”, our goal is to build long-term fundamental value and a company that can stand the test of time

Legion M’s primary focus is production and distribution of feature films. We also have efforts related to television, live events, and merchandise. These are the business models we expect to power the next stage of Legion M’s development.

As of this writing, Legion M has more than 54,000 investors, making us one of the largest equity crowdfunded communities in the world. And we’re growing fast – we had over 21,000 investors in Round 9 alone.

We have not paid out any dividends to Legion M investors, nor do we anticipate doing so in the near future. Until we become profitable, all proceeds from projects are re-invested into the company.

Note that in addition to allowing investors to own stock in Legion M (like this offering), we sometimes give investors the opportunity to invest directly in individual feature films, with a return tied SOLELY to profits generated by the film.

As of this writing, the company has 3 full time employees, 7 regular part-time employees/contractors, and a variety of other part-time employees/contractors we use on an as needed basis. Our goal is to keep overhead low so we can achieve profitability.

Production staffing for projects (e.g. the cast and crew of a movie) are hired on a per-project basis by the production entity (e.g. My Dead Friend Zoe is a wholly owned subsidiary of Legion M) and are paid from the production budget of the film.

We license our films to distributors in countries all over the world. We also have shareholders all over the world. While most of our community and activities are centered in the United States we hope to grow our international investor base over time.

Profitability is a critical milestone for any company, and we believe it’s an important precursor to a successful IPO or exit. We believe there are two paths for Legion M:

1. Produce Hit Movies. Legion M is still small enough that a single hit film could fundamentally alter the financial trajectory of the company. Now that we’ve “leveled up” to producing our own films (that we own the rights to), each movie is a swing of the bat. Predicting hits is impossible, but we believe if we can take quality swings at quality pitches, the hits will come.

2. Build a Distribution Pipeline. Film distribution is a different business model than film production, and is less reliant on “hits”. It’s also the business model in which Legion M’s community has the greatest potential to create competitive advantages. One of our primary purposes of this offering is to develop our distribution capabilities (either by ourselves or in partnership with other distributors) and build a pipeline distribution revenue for the company.

These two paths are not mutually exclusive. On the contrary, nearly every successful entertainment company – from Disney and Warner Bros to Netflix and Amazon – participates in both production and distribution. We expect Legion M to do the same.

There are many other companies involved in the creation and monetization of entertainment content, from giant international conglomerates to small independent creators. In some cases, we are competitors – fighting over financing, talent, distribution, and audience. In other cases, these companies are potential partners or customers in an industry where collaboration – even amongst companies that compete against each other – can be quite common.

Legion M was founded on the premise that an entertainment company owned by a large community of fans can develop sustainable long-term competitive advantages over those owned by individuals, Wall Street, and corporate conglomerates.

People who love entertainment, and people who want to OWN a stake in the future of film and TV.

Entertainment is a very collaborative industry, and Legion M has successfully partnered with many other companies in the space, including Universal, NEON, Bleecker Street, Briarcliff, Relativity, Searchlight, Warner Brothers, Fathom Events, CAA , Nederlander Worldwide Productions, and more.

Legion M is a moonshot. What we’re attempting has never been done before, and the industry we’re operating in is extremely competitive and capital-intensive. Statistically, we should have gone out of business long ago, but we’ve beaten the odds for over 8 years and don’t plan on stopping anytime soon.

The hardest part of a startup isn’t coming up with a great idea, it’s creating the path that turns that idea into reality. Over the past years, we’ve successfully grown Legion M from a “novel idea” to an award-winning studio. And we’ve done it on a shoestring budget – our entire existence has cost less than the first 15 minutes of a marvel movie!

Our plan is to continue what’s gotten us this far – building step by step towards our goal, and  “levelling up” with larger and larger stakes in bigger and bigger projects. Our primary focus will always be our community, as that is the source of our power. The bigger it gets, the more powerful it becomes.

Over the past 8 years we’ve grown Legion M to the point where it’s impossible to ignore. Our plan is to continue until we’re impossible to stop!