 | |
| Company type | Private |
|---|---|
| Industry |
|
| Founded | 2016 |
| Founder | |
| Products | Motion pictures, television, video games |
| Website | legionm |
Legion M (founded 2016) is an independent production company which makes films.
| | |
| Company type | Private |
|---|---|
| Industry |
|
| Founded | 2016 |
| Founder | |
| Products | Motion pictures, television, video games |
| Website | legionm |
Legion M (founded 2016) is an independent production company which makes films.
Legion M was founded by Paul Scanlan and Jeff Annison in March 2016. [1] It is the world's first entertainment studio which "allows fans to invest in and be part of the creation of new movies, television shows, virtual reality and other pieces of entertainment content" [2] after the SEC passed Title IV of the JOBS Act allowing non-accredited investors to make investments in small businesses. [3]
Legion M is currently partnered with Seth Green, co-creator of TV series Robot Chicken , Gaston Dominguez of Meltdown Entertainment, and gaming studio Animal Repair Show. [4] [5] Legion M partnered with Alamo Drafthouse Cinema for distribution and marketing purposes. [6] On August 14, 2016, Legion M closed its initial funding round with $1,000,000 from over 3,000 investors. [7] It worked with the SEC to launch their 2nd funding round as a Reg A+ in March 2017. due to higher funding thresholds and attracting more investors. [8]
According to the SEC government website, Legion M has had no profit since inception, in 2016, incurred negative operating cash flows, and has accumulated a total deficit of $21,238,115 as of June 30, 2024. With Legion M at a loss of over $21 million, and continually losing money year after year, they have earned a "Growing Concern Statement", according to the SEC. The SEC financial statement filing states "The purpose of this "Growing Concern" statement is to alert investors to the fact that the Company (Legion M) does not have enough cash on hand to fund operations for the next 12 months". For the past 9 years Legion M has relied steadily on investor's funding, while continually losing money every year, and stated to the SEC that their survivability is dependent upon its plan to raise more capital from investors. These factors, among others, raise a substantial doubt about the ability of Legion M to continue without raising additional investor funding. [9] As of March 2025, Legion M, filed another offering statement with the SEC, from Paul Scanlan, Co-Founder/CEO/CFO and Jeff Annison, President and Director, to seek investor funding for over $3 million dollars, while also reporting Net Income Losses of almost $3 million dollars at most recent fiscal year-end. [10] [11]
On December 12, 2018, Legion M and Chicken Soup for the Soul Entertainment ("CSS Entertainment") announced the formation of an agreement to produce television shows for their audience. [12]
Legion M has produced, co-produced, funded, or distributed a number of films, [13] including: