Prior to the opening of Round 9 we released a poll that gave our community a preview of the proposed terms, and a chance to provide their feedback. Now that Round 9 is open, we thought it might be interesting to share some of the results from that survey.

As of this writing, we've had over 3,400 responses, primarily coming from existing investors in Legion M.

We asked respondents to rate the progress Legion M has made since Round 8 opened on a scale of 1 (the company is underperforming compared to my expectations) to 5 (the company is killing it!). The results can be seen in the chart below:

We asked people to rate different aspects of our proposed Round 9 terms on a scale of 1 to 5. Here's how they rank below, with numbers showing the % of people who rated them positively (4 or 5) vs. negatively (1 or 2).

$40 Minimum investment (78% positive, 5% negative)
Free Movie Ticket with every investment (68% positive, 10% negative)
Free Legion M Gift Card with investments over $100 (70% positive, 6% negative)
Bonus Shares for investments $250 and up (79% positive, 5% negative)
Bonus Shares for existing Legion M investors (91% positive, 2% negative)

We asked people what they thought of the proposed share price of $1.65 per share (post split):

Finally, when asked about liquidity, most of our shareholders expressed a great deal of patience. Only 33 (out of more than 2,400 who answered the question) told us that they would sell their shares right now if they could.

As with all data, this should be taken with a grain of salt. Overall the feedback was very positive, and the fact that so many of our shareholders took the time to fill out a survey like this is promising. That said, surveys like this don't capture data from many important audiences, including current investors that aren't receiving our emails, or are not interested in taking surveys. It also doesn't capture the sentiment of one of the most important audiences of all -- new investors we're hoping to bring into the Legion in Round 9.

That said, this sort of feedback was very helpful in the complicated but critical task of finalizing terms for Round 9. We know that for Legion M to succeed we must balance the interests of our existing shareholders -- the ones responsible for where we are today -- with the interests of the new investors needed to get us where we need to go tomorrow. Our goal is to provide terms that are attractive to the large investors who will pore over our financial data as well as all the small or first-time investors who invest $40 on a whim. Ultimately, we need to do whatever gives us the best chance of achieving our goal of 1MM shareholders, and a building company with an ability to help shape the future of Hollywood!

Round 9 Terms: Poll Results