Legion M was founded on the premise that an entertainment company owned by a FANS has competitive advantages over those owned by Wall Street investors. We're the ones that buy the tickets and pay the fees -- when we unite we have the power to shape the future of Hollywood.
Founded by Emmy-winning digital media pioneers Paul Scanlan and Jeff Annison
Projects with Kevin Smith, Stan Lee, Nicolas Cage, Anne Hathaway, Dean Devlin, and more
One of the most successful companies in JOBS Act history with over $10MM raised & 25,000+ investors
Innovative apps like FILM SCOUT and MPULSE give investors a voice in company decisions
Advisory board of industry heavyweights, including execs from Netflix, Sony, Lucasfilm, and more.
Priority access to events like "Legion M Lounge at Sundance" or the 2017 "Stan Lee Houseparty"
Backstage access to livestreams/Q&As/etc, plus chances to win set visits and premier tickets
Not sure about investing? Try joining for free at www.legionm.com/join
Why investors us
$10,212,988 since our founding
Entertainment doesn't exist without fans, so whether you are an established Hollywood player or an up-and-coming creator, your fans are your most important asset. That's why a fan-owned company is such a revolutionary idea. By allowing people to be a part of the process, Legion M is building a community and fanbase that is invested in projects even before they are released. That has the potential to create huge value for everyone--from the biggest studios to the smallest independents.Also, Paul and Jeff are two of the nicest, smartest, and hardest working guys I've met in a long time. It's a bold plan, and I'm rooting for them to pull it off!
Legion M is a first-of-its-kind entertainment company built from the ground up to be owned by fans. For the first time in history, you can get in on the ground floor of a pre-IPO entertainment startup with a slate of projects that include Stan Lee, Kevin Smith, Anne Hathaway, David Tennant, Nicolas Cage, Jason Sudeikis, and much, much more.
TOP SECRET PLAN- Download our plan to unite 1 Million fans and create one of the most influential companies in Hollywood
HOW WE MAKE MONEY - Take a deep dive into how Legion M is harnessing the power of fans to innovate in entertainment
BECOME A FILM SCOUT - Learn how you can become a film scout and help Legion M find the next big thing!
SHAPE THE FUTURE OF HOLLYWOOD
For most companies, investors are little more than a source of funding. For Legion M, they are the source of our superpower. We're constantly seeking opportunities to take our shareholders behind the scenes, and developing new tools and processes to tap into the collective wisdom, creativity and talent of the community.
OUR SLATE OF PROJECTS
When you invest in Legion M you're not just backing a single project -- you're investing in an entire slate. By diversifying across different genres (e.g. comedy vs. horror), mediums (e.g. TV vs. Movies), and risk profiles (e.g. high risk early-stage projects vs. low-risk late-stage projects), we're building a company designed to stand the test of time.
HOW WE MAKE MONEY
Since Legion M launched in 2016, we've demonstrated that we can develop diversified revenue streams, including:
Equity investments in feature films (Jay and Silent Bob Reboot, Mandy, The Field Guide to Evil, Archenemy)
P&A investments in feature films (Colossal, Bad Samaritan, Save Yourselves)
Merchandising (including licensing, wholesaling, and D2C)
Distribution (Memory: The Origins of Alien)
Marketing Partnerships (Tolkien)
Comic Books (Girl With No Name)
Live Events (2017 Stan Lee Tribute, 2019 Stan Lee Memorial, Legion M Lounge at Sundance Film Festival, etc)
When you invest in Legion M you are buying stock in the company. It's like investing in Disney back when it was just Walt and Roy. As a pre-IPO startup, we are inherently risky. The fact is, most startups fail, and if we fail, you will likely lose all your money.
But startups that succeed can change the world, and provide staggering returns for investors. Our current market cap (the price you are buying in at) is about $30.2 million. If we're successful, we believe Legion M could someday be worth billions. We believe there's a LOT of upside.
The stock you are buying has the EXACT same financial terms as the stock owned by the founders, employees, and every other investor big and small (we have investors ranging from $100 to over $300,000). All of us are in the same boat -- we don't succeed unless you succeed.
Like a snowball rolling down the hill, the larger we get the more powerful we become. We're swinging for the fences with Legion M, and while no one can guarantee success we're doing everything in our power to make this the best investment you've ever made.
NOT SURE IF YOU WANT TO INVEST? JOIN FOR FREE TO SEE FOR YOURSELF WHAT LEGION M IS ALL ABOUT
A LETTER FROM THE FOUNDERS TO PROSPECTIVE INVESTORS
Thank you for considering an investment in Legion M! We couldn’t be more excited about the opportunity in front of us, and are thrilled that you are considering joining us. Before you get into the offering circular, there are a couple things we want to mention.
Legion M is not a conventional company. We don’t intend to become one.
Most of our offering circular describes Legion M in conventional business terms. In fact, the whole purpose of this document is to provide a convention for you to evaluate our company and make an informed investment decision. But there are elements of Legion M that defy convention and we want to take a moment to explain them in our own words.
Risk vs. Reward Before you invest, it’s important to understand that Legion M is a very early stage company. In fact, thanks to the JOBS Act, you now have the opportunity to invest earlier than has ever been possible — at a stage traditionally reserved for angel investors and venture capitalists.
If you want to get in early, you need to understand the risks. As a pre-IPO startup, we have few established customers or revenue streams and very little operating history for you to review. When you invest in a startup, you aren’t banking on what we are today—you are betting on what we could become tomorrow. It’s an inherently risky proposition — the fact is, most startups fail.
But those that succeed can change the world. Every great company — from Walt Disney Pictures to Apple Computer — started with entrepreneurs and investors who had the courage to defy the odds and try something no one else had done before. We believe Legion M could be one of those companies.
We’ve beaten the odds before,(1) and believe we can do it again. You should never invest more than you can bear to lose. But if you’ve got a little extra and want to swing for the fences, we’d love for you to join us. We’re betting our money, reputations, and careers that we can make this company a success.
One Million Fans Legion M is, to our knowledge, the first company built from the ground up to be owned by fans. We're building it that way because we believe a media company owned by a large audience of fans has a fundamental competitive advantage over those owned by Wall Street investors. From sequels and franchises to talent and influencers, one of most valuable assets in Hollywood is a built-in audience. Imagine the power of a company with an audience built in to everything it does.
Our logo (the M with a bar over it) is the Roman numeral for one million, representing our long-term goal of uniting one million fans as shareholders of the company. If we can achieve this goal, Legion M will likely have hundreds of millions of dollars to invest in projects that have one million people emotionally and financially invested in their success. We believe that could make Legion M one of the most influential companies in Hollywood.
Redefining ROI Most companies view investors simply as a source of capital. For Legion M, they are the foundation of our business. We are a community as well as a corporation. As a management team, our job is to create value for this community. While conventional companies define shareholder value solely by dollars and cents, Legion M goes one step farther:
Financial ROI Legion M’s primary goal is to run a responsible business that earns money and increases our share price. Our investors are investing hard-earned dollars, and our job is to give them a return. Financial success is the key to the long-term viability and success of our company — the more money we make, the more great things we can do.
Emotional ROI While financial success is the primary goal for Legion M, we believe there is more to life than money. In addition to financial return, we strive to give our investors an EMOTIONAL return for owning a piece of our company. We work hard to cultivate a vibrant community for our shareholders, look for interesting ways to take them behind the scenes with our projects, and strive to create new and exciting opportunities for them to be a part of the entertainment industry.
The wonderful thing about a fan-owned company is that financial and emotional ROI are not mutually exclusive. Getting our shareholders engaged and excited about our projects isn’t just good fun—it’s also good business. The more engaged and excited our audience is, the more buzz and value we create for the project, which in turn provides greater financial ROI to the company and all of its shareholders.
Onward and Upward,
Paul Scanlan and Jeff Annison Cofounders, Legion M
(1) In 1999 we (along with one other cofounder) started a company called MobiTV, which we grew to over 300 employees, won an Emmy award for innovation, and became a worldwide leader in delivering TV outside of the living room.
(2) You can join Legion M as a free member at www.thelegionm.com/join. As a free member, you don’t have a financial stake in the company’s success, but you do get access to our community and many of the same benefits that are available to shareholders. It’s a great way to see for yourself what Legion M is all about.
Meet Our Advisory Board
What does your company do?
Legion M was founded on the premise that an entertainment company owned by a FANS has competitive advantages over those owned by Wall Street investors. We're the ones that buy the tickets and pay the fees -- when we unite we have the power to shape the future of Hollywood.
Where will your company be in 5 years?
Our long-term goal is baked into our logo. The M with a bar over it is the Roman numeral for 1 million, because our goal is to unite 1 million fans as shareholders of our company.
When we achieve this goal, we'll have hundreds of millions of dollars to develop film, television, and other entertainment projects that have 1 million fans standing behind them. We believe this could make us one of the most influential companies in Hollywood!
Can I make money from this?
That’s the whole point! This is completely different than the traditional crowdfunding you get on Kickstarter and others, where you donate in exchange for a reward, perk or pre-sale of the product. When you invest in Legion M, you are buying stock in the company. Our job is to make the value of that stock go up!
How does Legion M make money?
We’re taking a proven business model (content production) and adding a twist that gives us a competitive advantage: fan ownership! Hollywood is fiercely competitive, but there is money to be made if you are successful… especially if you are working with people that have a track record of success.
Will Legion M pay dividends?
Not in the foreseeable future. As an early stage company, all revenue from projects will go back into the business, allowing us to invest in more projects and to continue growing the value of the company overall.
Do you offer perks?
Absolutely yes! Being a Legion M investor means you get...
VIP invites and access to exclusive Legion M events, screenings, premieres, etc. (Note: if/when capacity is limited, we raffle off tickets to applicants).
Your photo included in Legion M’s official photomosaic production logo in the credits of our projects.
Membership to an inclusive community of like-minded entertainment lovers to network with.
Input and voice in the type of content we produce.
Are there other benefits to investing?
Absolutely! As a Legion M shareholder, you get to come along for the ride as we work with top Hollywood creators to release exciting new projects. You’ll get invites to shareholder-only online hangouts with the cast and crew, live-streamed tours of the set, invites to exclusive shareholder meetings, screenings, VIP events, and all sorts of stuff like that.
Aren’t you afraid of having too many cooks in the kitchen?
Just because we bring you behind the scenes doesn’t mean you get to call the shots. Great art isn’t made by committee--it’s made by empowering great artists (and then getting out of their way!). A lot of creators gets excited about working with us to find fun ways to engage with fans, but ultimately, we leave all the creative decisions to the creators.
Why hasn't anyone done this before?
Recent changes to securities law (the JOBS Act) have opened the door for the public to invest in early stage ventures like Legion M. Before then, only “accredited investors” (i.e. the wealthiest 3% of the population) were legally allowed to invest in companies like Legion M. Now, we’reopening the gates of Hollywood for the rest of us!
Do I get to pick the projects my investment goes toward?
No, and there is good reason for that. Hollywood is a hit-driven business, which means that it’s very risky to back any single project. Legion M is working with our creative allies to build a diversified slate of projects. Some may fail, but others will likely succeed, and the money we make from the hits will allow us to fund a new batch. In that way, we're really no different from how Hollywood studios operate because we'll spread the risk around to ensure Legion M can keep doing this for a long time.
What is Legion M’s competitive advantage?
Our competitive advantage is our community. As of this writing, we have over 10,000 investors and 40,000 members! By allowing people to own equity and come along for the ride, we’re building a legion of fans that are financially and emotionally invested in our projects' success. That’s a huge advantage when it comes to things like marketing, monetization, distribution, etc.
If you think about it, fans hold all the power in the entertainment industry. We buy the tickets, pay the subscriptions, and decide what to watch. Individually we’re just consumers, but when we band together, we have the power to change Hollywood for good!
I want to invest, is next month going to be too late?
All we can guarantee is that this round will be open until it sells out, but that may happen quickly as we had significant demand for reservations (over 6,000!) and our previous Reg CF round was oversubscribed.
As an investor, will I get a credit in our projects?
As you probably know, movie and TV credits can be quite tricky--especially when you are working with lots of other partners. We love the idea of investor credits! To that end, we created the Legion M photo mosaic which has pictures of our awesome investors and is part of our production company card… if you submit your photos to our mosaic project, you will be in pictures! Legion members who work or volunteer on our projects get credits for doing the actual work, and when we produce our own projects, we’ll work hard to find a way to include Legion investors as part of the credits – we just can’t guarantee it!
What do I do if I want to increase the amount of my initial investment?
It’s easy peasy lemon squeezy! If you invested in this round, you can change your investment anytime as long as this round is open. To do so, log in to Wefunder with your account details and go back to our page at www.wefunder.com/legionm, on that page, the invest button should now be replaced with an "Edit Investment" button near the top of the page over the photo. From there, I think you can just follow the steps.
What is a "subscription agreement?” Will the same amount invested be withdrawn from my bank account every month or something like that?
A subscription agreement is the legal contract between you and Legion M to buy the shares. We don’t know why it’s called that, but this is the legal term for it -- rest assured, this is a one-time purchase, and no recurring payments will be withdrawn from your account.
What's the Exit Plan?
Legion M is focused on creating shareholder value, and because we raised funds through a previous Title III and Reg A+ round, we have, in a sense, already had a mini-IPO because the Reg CF stock will be tradable one year from purchase, and Reg A stock is tradable immediately. As we create value in the company, our share price should increase, and shareholders will be able to sell their stock and exit as they please. Our goal is to keep growing Legion M long into the future.
How are you able to offer liquidity without being publicly listed on a stock exchange?
Since the JOBS Act is so new, some of this is still being worked out, but there are exchanges being set up as we speak to enable the buying and selling of JOBS Act securities. Once our first round of Reg. A+ stock closes, it becomes liquid so it can legally be sold, traded and transferred. So, while the shares won't be on the NASDAQ or NYSE, they will be tradable and there will be trading platforms supporting it soon!
Are we subject to insider trading rules?
You betcha! That’s why we can’t have any private “shareholder only” groups. We have to include investors who have bought stock in the company and members who have joined for free in all of our communications and activities.
What does the "M" stand for in Legion M?
We like Legion because it represents a broad and strong community with a call to action. We are a Legion of fans reshaping the entertainment industry. The M in our logo has a bar over it which is the Roman numeral for 1 million and represents our long-term goal to have 1 million fans as our shareholders. With a Legion of 1 million fans, we can be one of the most influential companies in Hollywood!
How do I connect with the Legion M community?
Lots of ways… We have an amazing, private, member-only Facebook group and robust, active forums! You can connect with us on social media at Facebook at https://www.facebook.com/groups/iamlegionm/, on Twitter @LegionMOfficial or via our forums (sign up at http://legionm.us/forum/).
And, once you invest, you will receive an e-mail with all the details from us! If you want to join as a free member, sign up at https://legionm.com/join-legion-m/. If you don't receive a welcome e-mail, please e-mail us at firstname.lastname@example.org and we will get back to you right away. Thanks again for joining our team!
Who else is doing this in Hollywood?
As far as we know, no one is competing head to head with Legion M. There are other entertainment companies out there doing equity crowdfunding raises under Title III of the JOBS Act, or with an ICO, but none have the same business model and emphasis on the community that Legion M has. We’re pretty unique and the first to market with the idea that fans have the power!
Wow, Hollywood must really dislike Legion M because it’s such a disruptor!
Hardly! To our delight, this couldn’t be further from the truth. Hollywood NEEDS Legion M, and we’ve had a fantastic response from every meeting and introduction, starting with the creative allies that we have in place and evidenced by the fact that we have four high-profile projects officially on our slate, with more to come! Hollywood studios and creatives see Legion M as a valuable partner, and we believe the best is yet to come with future partnerships and opportunities!
How do you select projects?
The criteria we use to select projects boils down to three questions:
(1) Can we make money from it? This isn't kickstarter - we are only interested in projects we feel can provide a financial return for our shareholders. And does it help us grow the Legion.
(2) Is it fun? In addition to financial return, we aim to provide is an emotional return--we want projects where we can engage our shareholders and bring the power of the legion to bear.
(3) Are we making the world a better place? We believe in using the power of the Legion to do good in the world.
How can fans help make projects successful?
There is an old saying that "content is king." That saying is true, but before it can become king, it needs to rise above the noise. There is an amazing amount content out there and a lot of it is really good. The difference between financial success and failure often comes down to one simple element: marketing.
That's where The Legion comes in. When you have a group of fans that are invested in content--especially emotionally and financially invested like we are at Legion M-- they are willing to get behind it, tell their friends about it, talk about it online, see it on opening day, etc. This is exactly the sort of "word of mouth" advertising that brands are looking for. If our fans show up when we have a new release, we’ll be unstoppable.
Film, TV and VR are very different areas. Does being so diverse harm your ability to focus?
The buzz word is “trans-media.” That means projects can be developed across formats. Legion M plans to develop, partner and produce strong stories with great characters no matter the format, and we’ll partner with experts in their respective fields to help us produce it. Because we’re building a slate of projects, diversification across mediums allows us to stay nimble and chase after the very best projects. Our ultimate task is to find ways to monetize our content no matter the format – whether film, TV, VR, merch, games or otherwise. By partnering with experts in all these respective fields, we are in a great position to build trans-media properties that span multiple categories.
How can a legion of fans help you find new projects?
Everyone in Hollywood is always looking for the next great property--whether it’s a book, comic book or a creator on YouTube. Having a legion of fans who can help scout and identify up-and-coming voices and storytellers is a huge asset. Most production companies pay staffers to stay on top of all the current trends, but in our case, we have a legion of people excited and incented to tell us about a terrific new book or a funny video we need to watch!
How can a legion of fans help in the creative process?
The creators we work with LOVE the idea of fan engagement as long as it's done in the right way. A lot of people think that engaging fans is about democratizing the creative process, but that is completely wrong. You don't make great art by committee, and no creator wants to review arbitrary notes from tens of thousands of people.
That said, there are plenty of ways for fans to get involved and for creators to use the legion as a resource. We have seen several amazing examples of this over the past year. The first was our initial company trailer. We had two different cuts from two different voice-over artists. Internally, we were split: half of us preferred one, half preferred the other. The solution? We put it out to the Legion. Within 12 hours we had a clear winner, and a huge amount of insight into which version resonated best with different demographics. Ultimately, we ended up ordering both versions of the trailer and now use targeting to get each version in front of the demographics that liked it best! Other examples include using legion volunteers to staff our booth at Stan Lee’s Los Angeles Comic Con, help shoot and produce our Pitch Elevator TV pilot, and photograph and video the on-set background during our ICONS shoot with Stan Lee and Kevin Smith. All of these were 100% brought to you by Legion M volunteers and staffers!
We've had discussions with our creative allies about how to involve the Legion, and before we take on any project, that has to be a consideration. Luckily, our allies have dozens of concepts, and the opportunity to get in front of a friendly audience for feedback is hugely powerful. The ability to have fans play a role in what projects we greenlight is also powerful. And the best part is that by making it fun, it becomes a real benefit for all our shareholders!
What are some examples of Legion M community initiatives?
Legion M is all about the community. We hold frequent events both online and in person to bring our community together. We also offer many ways for our Legion Members and Investors to get involved and participate in our success.
For example, our Legion M Forums were 100% built by volunteer Legion members. We put the word out and said, "Hey, does anybody know anything about setting up forums, or is anybody interested in volunteering?" We had 150 volunteers, and we picked a team leader, and she picked the team, so now we have a robust and healthy forum solution that was completely built by volunteers. With months of effort and now they manage it and maintain it! They are amazing!
We had an amazing presence at Sundance Film Festival in 2018 where our members came together and there were several volunteers that went above and beyond to help make that entire experience fantastic. We had one of the liveliest and most fun venues at Sundance thanks for our spectacular community coming together to support.
We have frequent events at Comic Cons and film festivals. Volunteers help organize meet ups around the world when our films release. We had a HUGE presence at the 2016 Stan Lee Los Angeles Comic Con where we staffed an awesome booth, shot a digital TV series and premiered our Pitch Elevator competition – all of which was staffed and run by Legion M member volunteers! We had a blast meeting our members, working with them and hearing their ideas. We were the most successful vendor at the Con due to the dedication and enthusiasm of our volunteers and we loved working with all of them!Even bigger than that was our presence at LA Comic Con in 2018 where we hosted a "Fan Oasis" right in the middle of the show floor, featuring nerdy cocktails from the Scum and Villainy Cantina, awesome panels and workshops on our very own personal stage, immersive VR experiences from Spectrevision, costumes and props from various hit films and TV shows, an amazing Stargate photo booth, real props and costumes from Mandy and exclusive merch, and most importantly: FREE SWAG! It was a lot to manage, and our volunteers made it all possible.
How can I let my Legion M flag shine for the world to see?
Lots of ways! Several members across the country have received personalized Legion M license plates and one even got a tattoo! At your request, we will mail you a welcome packet with some Legion M Swag like stickers and marketing cards, and of course you can buy Legion M t-shirts, hockey jerseys, name badges and pins in our online store: https://legionm.com/store/. We encourage creativity and are always open to hearing from merchandising partners. Let us know if you have any ideas!
Will Legion M produce my script or hire me as an actor or director?
Whenever possible, we'll give priority to the legion community when it comes to sourcing and staffing projects. We have a submission page on our website at (http://www.legionm.com/submissions) if you want to be added to the list when we open our doors for script submissions. There are thousands of people on that list already, so there is a LOT of competition! We also have a job board in our forums for members to post staffing/casting needs as our projects (or even other people’s projects) ramp up. We obviously can't promise every investor a job or that we will back their projects, but when we can, our ideal will be to work within our community.
We also periodically have events and contests which give you the opportunity to submit your ideas! Pitch Elevator was one opportunity we launched in the fall of 2016, where the winner's idea will get a development deal with Legion M, and we’ll have an open call for narrative prose stories for the short story collection book "Tales From the Legion" coming soon.
How much do we need to raise to be successful?
It’s really less about the money we raise and more about the number of people and shareholders we can get on board. Our first goal is to establish Legion M as a credible player in the space and to prove the value of a community of fan-owners. We are 2 years in so far and we have already seen the power of having a community of shareholders. Our goal is to keep growing toward our goal to unite 1 Million fans together.
What is pre-money valuation, and how does Legion M calculate it?
The pre-money valuation is effectively the price at which you are buying into the company. Over time, if we're successful, this value will grow.
If you take the company's valuation and divide it by the number of outstanding shares, it gives you the value of each share. Conversely, if you take the number of outstanding shares and multiply it by the share price, you end up with valuation--the same way you'd calculate market cap for a public company.
Legion M is different than most early stage companies in that we don't have any financial preferences amongst our shareholders. Our two classes of stock have different voting rights, but financially they are equivalent. That means all of us -- the founders, insiders, and every single one of our investors -- have the EXACT SAME TERMS. We're all in the same boat; none of us wins unless all of us win.
When we calculate our pre-money valuation, we include all issued shares, options and warrants - even those that have not yet vested or been exercised. However, unlike most VC deals, we do NOT include stock options that have not yet been issued (i.e. the option pool). That's because when we issue stock options, the strike price is the current market price. This is very different than VC deals, where options are typically issued for pennies on the dollar due to the price difference between common and preferred. In a VC deal the option pool represents pure dilution for investors. In our case, it simply represents a potential future sale at the current market price.
What was MobiTV?
We (co-founders Paul Scanlan and Jeff Annison) along with another friend of ours (Phillip Alvelda), co-founded MobiTV. In 2003 we were the first company in the US (and pretty much the entire world) to launch live television on your cell phone.
At the time, we were almost laughed out of Hollywood. People told us--and we are not exaggerating here--that it was the dumbest idea they had ever heard… "Nobody is ever going to watch television on their cell phone."
Now in fairness to them, this was 2003. The screens were really small, and the video quality was very poor by today's standards. It was years before the iPhone--even before the Razr. We were working on some of the very first phones with color screens.
Also, at the time, the ONLY place people watched TV was in the living room. It seems crazy to think about it now, but most people thought there wasn't any demand for television outside the living room.
Yet when we launched, it took off like wildfire. Over the last 13 years, it has been the fastest-growing part of the entertainment industry. In fact, we had such an impact, we were awarded a Primetime Emmy Award for our contributions to the television industry. We grew those services to over 20 million paying subscribers around the world, and the company is still going strong today. Chances are, if you have watched TV on your AT&T, Sprint or T-Mobile device, it was powered by MobiTV. We pioneered that whole space. We were even the first to do live TV on the iPhone, not to mention the first to do March Madness, World Cup, NFL, NBA, Olympics and more.
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