Each year Legion M is required to publish public financial statements that have been audited by an independent accounting firm. The purpose is to provide transparency to investors, along with confidence that the numbers being reported are accurate.

It’s an expensive process – this year’s audit of our 2023 finances cost over $40,000 in auditing fees alone. It also requires a great deal of time from senior executives and staff. Over the course of 2-3 months the auditor’s team crawls through every aspect of our company - bank records, contracts, receipts, financial statements, accounting software, product inventory, etc - to make sure everything adds up. They also ensure we’re following generally accepted accounting principles (GAAP).

Anyone who’s experienced an audit will tell you they are not any fun. This is especially true for a startup like Legion M with very limited resources. We want to focus our time and energy moving the company forward and building our business – not looking backwards and going through expense reports.

That said, we believe these audits are worth their weight in gold. The ability to give investors confidence in our reporting is invaluable – especially in this age when it’s so difficult to trust the information you find online. 

We’ve all heard horror stories about crypto scams, Fyre Festival, shady producers and “Hollywood accounting.” It’s both natural and SMART to be skeptical of what people tell you when they are talking about “investment opportunities.'' And while investing in SEC regulated startups with public reporting and audited financial statements doesn’t eliminate risk, it should at least provide some measure of confidence that nobody is running off with your money. 

For Legion M, audits are a lot like colonoscopies. Both involve outsiders peering into dark areas looking for problems. Both are inconvenient and uncomfortable. But in the end (no pun intended), there is confidence in knowing an independent expert has taken a detailed look and determined everything appears to be in order. 🙂

Onward and Upward!

PS… Want to see Legion M’s audited financial statements? We’ve got 8 sets of them on the SEC’s website (one for each year we’ve been in business). For links, please check out our investor relations page.

INVEST IN LEGION M

Investing in Legion M is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose (not in Legion M or in ANY startup!). That said, if you can bear the risk and want to swing for the fences, we’d be honored to have you join our team!

Read the Offering Circular as well as the risks related to this offering before investing. This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC.