Tom Delonges UFO Company $34.4 million in Debt

I read about this on a news feed earlier today, (about 8 hrs ago) and I'm surprised that it hasn't been discussed already. (WEll not according to our search function).

Here's the details;

Former Blink 182 member Tom DeLonge’s company ‘To The Stars Academy Of Arts And Sciences’ – an organisation dedicated to the study of alien life – is reported to be $37.4 million in debt.

According to Arts Technica, a biannual report to the Securities and Exchange Commission reveals that DeLonge’s academy is over $34.4 million in debt.

The report says: “The Company has incurred losses from operations and has an accumulated deficit at June 30, 2018 of $37,432,000. These factors raise doubt about the Company’s ability to continue as a going concern.”

Last month, DeLonge’s company was variously crowdfunding to raise money for a spaceship, inviting new investors as well as selling off its stock to investors.

Several news sources have released this story but the mainstream appear to be a little slower to pick up on it.

Not being fully able to treat any media source as 100% reliable these days, but if true, does this surprise anyone?

Personally, I had slightly dubious high hopes, especially considering who Tom managed to get on board but how the heck can the Academy be £37 million down?
Wage bill for the boffins? cough

NME

As usual, apologies if this has already been posted as the story has been live for at least 9 hrs.

a reply to: studio500

The Company has incurred losses from operations and has an accumulated deficit at June 30, 2018 of $37,432,000

It would seem someone has demonstrated a massive neglect of the economics of this situation.


I could not donate to such a futile endeavor.

This was the first article that I read about this.

It's just a little bit more interesting that the NME article above.

arstechnica.com... all-the-dumb-things-blink-182-front-mans-ufo-project-37-million/

a reply to: studio500

That doesn't surprise me at all.

I wonder where all the money went into because it was certainly not invested to make a great website. When the academy first popped up I wen to the website and it was horribly made.

Also there wasn't much content so I am thinking someone was pocketing much of the millions.

It's not exactly news.

We picked up on this three weeks ago in the Bigelow, UFOs, MUFON and ‘DeLonge’ Road to AATIP

That's what I'm scratching my head about.

Obviously, nobody knows what they had in the pipeline, if anything at all.

$37 million is still a good chunk of cash to burn through though.

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred losses from operations and has an accumulated deficit at June 30, 2018 of $37,432,000. These factors raise doubt about the Company’s ability to continue as a going concern.

Put another way, after a year of fundraising, Tom DeLonge's alien business has raised just over $1 million in outside funding. The company has racked up a $37.4 million deficit, however, largely from a stock incentive plan for its employees. The financial filing states that To the Stars intends to remain in business over the next 12 months by selling additional stock. Their website says they accept credit cards, if you're so inclined to help keep the effort afloat. But bear in mind that any financial returns may be beyond the reach of even The Phenomenon. I'm not sure what to say about a millionaire who parlays his or her fame into a business that raises funds from people who are not millionaires but desperately want to believe in aliens, or conspiracies, or hidden government technologies. Therefore, I'll let DeLonge say it for me, in Blink 182's hit song Aliens Exist, from 1999's Enema of the State: "We all know conspiracies are dumb." If only we all did.

arstechnica.com... all-the-dumb-things-blink-182-front-mans-ufo-project-37-million/

originally posted by: mirageman
It's not exactly news.

We picked up on this three weeks ago in the Bigelow, UFOs, MUFON and ‘DeLonge’ Road to AATIP

Ahhhh Haaaa, hence why no search results. Well, I guess it might not be news to those who actively read that 200 page thread but it just might be to those that don't.

I did go back several pages in that thread and saw nothing but I certainly didn't go back 3 weeks ago.

Anyway, it appears to be either A) Hitting some media sources for the first time, as it came up on my news feed this afternoon or more likely B) It's just doing the rounds once again for an encore.

But thanks for the heads up.

Sadly I don't read every single page of TDL related threads.

Former Blink 182 member Tom DeLonge’s company ‘To The Stars Academy Of Arts And Sciences’ – an organisation dedicated to the study of alien life – is reported to be $37.4 million in debt.

First rule of fight club.

Without a way to monetize it ( a reliable stream of income)

It's like owning a yacht or a private jet.

You just throw money away, and continue to do so until it either sinks or sell them.

What he should have done is set up a foundation or trust an invested the crowd sourced funds to create income stream.

Dished out for their projects.

Well, according to another report
TDL has replied via instagram 2 hrs ago to arstechnica.com and the piece written about him and alleged 'debt'.

BLATENT LIE — APPARENTLY, THIS WRITER CAN’T READ. BTW- TTSA never even raised $37m!!? So how in the hell did we spend it?! Lord. I ask all of you that believe in the @tothestarsacademymission to go write a complaint on their website RIGHT NOW for trying to hurt an admirable effort to help humanity by using negative attacks and—-> lies. OUR LETTER TO THEM: Dear Ars Technica— I am writing you regarding the article posted to Ars Technica this morning titled ‘All the dumb things? Blink 182 front man’s UFO project $37 million in debt’ by Eric Berger. We were surprised Ars Technica would allow Mr. Berger to post such an article without asking either Mr. DeLonge or To The Stars Academy of Arts and Science for comment. This article is highly misleading and grossly mischaracterizes statements in an SEC filing. Had Mr. Berger bothered to reach out to us for comment this could have been prevented. Mr. Berger apparently did not EVEN READ the filing in its entirety, and clearly did not understand the excerpt of the SEC filing he quotes. The approximate $37 million stockholders’ deficit is NOT DEBT as he characterized it but is attributable to stock-based compensation expense. IT IS NOT RELATED TO THE OPERATIONAL RESULTS OF THE COMPANY. The Consolidated Balance Sheets of To The Stars Academy of Arts and Science in the SEC filing quoted by your author clearly shows the approximately $37 million deficit is attributed to Stockholders’ Equity (Deficit). The filing goes on to explain the mechanism for calculating stock-based compensation and details the various grants of stock options by the company. Mr. Berger’s characterizations of this as debt implies that it stems from traditional borrowings. Had Mr. Berger bothered to email or call us we could have directed him to these portions of the SEC filing and walked him through it. For Mr. Berger to make the conclusions he did on incomplete research and his own interpretations without contacting Mr. DeLonge or the company is inexcusable. We request that you print this letter in full within the article as our statement.

Apparently the original article has since been slightly modified to "reflect a more accurate picture of the company's finances."

Even after reading the explanation relating to Stockholders Equity Deficit and calculating stock-based compensation, I must admit, it's about as clear as mud to me.

I wonder if he’s going to dump his own money into it

a reply to: studio500

Just a failed attempt at partial, rather than full disclosure. I doubt He was actually complicit at a deep level....just used. Since it didn't work, blame can be deflected on to him...money can be laundered...or, already has been...

Nice try Lizard Dudes!

"Be excellent to each other!" --William S. Preston Esq.

Dang , there is a DEFICIT as Delonge invested his employees in a stock plan
That is NOT counted as "debt"
Ars Technica updated the story and the headline
Big OOPS

Update: The original story mischaracterized To the Stars' deficit as debt. This story has been changed to reflect a more accurate picture of the company's finances.

And the article was from a certified meteorologist who sounds like he is on a rant against rock stars rather than reporting ,

UFO project has $37 million deficit

Put another way, after a year of fundraising, Tom DeLonge's alien business has raised just over $1 million in outside funding. The company has racked up a $37.4 million deficit, however, largely from a stock incentive plan for its employees. The financial filing states that To the Stars intends to remain in business over the next 12 months by selling additional stock. Their website says they accept credit cards, if you're so inclined to help keep the effort afloat. But bear in mind that any financial returns may be beyond the reach of even The Phenomenon.

arstechnica.com...

IF your a true believer. Throw your money away if you want to.

As a serious investment ?

www.sec.gov...

Stay away at least until it's gets listed on the NYSE or NASDAQ or pinksheets.

Since it was all CIA DOD types on the staff, the whole thing was probably a long con job for more black budget BS.

wow $37 mill is a lot of blow. I lost interest in his endeavour after his Joe Rogan interview, he came across as being unprofessional and under the influence of chems. "Sniff sniff I'll show you ma dick".

I was wondering were all such money went if they had that debt in a year.

Maybe undershirts and caps?

Shucks they haven’t don’t a damn thing, haven’t revealed anything.

originally posted by: Willtell
Shucks they haven’t don’t a damn thing, haven’t revealed anything.

Chris Mellon revealed a mylar balloon in the shape of a number 1, and correctly stated that it was not a US experimental craft.



Then he asked, "if it's not ours, whose is it?". I wonder if he figured out the answer yet.

www.metabunk.org...

I'm surprised TTSA doesn't have an even bigger deficit with that kind of shenanigans.

originally posted by: Arbitrageur

originally posted by: Willtell
Shucks they haven’t don’t a damn thing, haven’t revealed anything.

Chris Mellon revealed a mylar balloon in the shape of a number 1, and correctly stated that it was not a US experimental craft.

Then he asked, "if it's not ours, whose is it?". I wonder if he figured out the answer yet.

www.metabunk.org...

I'm surprised TTSA doesn't have an even bigger deficit with that kind of shenanigans.

And that cost 34 million?

WTF did they spend it on???????????

originally posted by: Lysergic
WTF did they spend it on???????????

Clearly they are backing "Star Citizen".

Seriously though, does anyone know the actual status on their claims (both their claims of getting "full Disclosure", and this issue with how much is really being spent on what?)