All things considered, this is pretty good.
The hand held stuff at the intro looks pretty rough. Handheld looks most plausible when the camera operator is really moving around, like when the actual assult/battle sequence begins. Looks terrible when a tripod woulda worked so much better - like in the classroom.
Consider building your own PVC Fig Rig or shoulder mount.
Use your filters to do more to suggest "dreaming." Whatever filter you used for the classroom looked more dreamy than the battle scenes.
I know it's nearly impossible to get that many guys together on any given day for the hours you probably put in on this, but TRY to schedule or shoot on mildly overcast days for your exterior shots to avoid that high contrast blowout between sunlit and shadow.
I was impressed with the level of fighting and action choreography and its execution. That kick to the chest @ 3:00 looked like it hurt + the fall to the ground! Ouch!
A little bit O' common sense despite-being-a-dream: don't run around with shotgun shells on a chest clip if you have no shotgun. Duh!
What was your budget for this? Where'd you spend your money? Did everyone already have their assorted mercenary uniform clothing + weapons?
@ 3:35 the interior flashlight usage I understand was understandably quite necessary, but needs some "assistance." Either bring more lights and bounce it off the ceiling or buy a sheet of fluorescent light diffuser at the home improvement store.
Congratulations and GL with the next video!