Tom DeLonge Responds to Report That His UFO Organization Has Accumulated $37 Million Worth of Debt (UPDATE)
Noted alien enthusiast and former Blink-182 co-frontman Tom DeLonge was named UFO Researcher of the Year back in 2017.
UPDATED 6:10 p.m. ET: Tom DeLonge has responded to a report that previously claimed that his To the Stars Academy of Arts and Sciences was $37.4 million in debt.
DeLonge took to Instagram to write:
The publication Ars Technica has since updated their post, writing: "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."
See original story below.
Noted alien enthusiast and former Blink-182 frontman Tom DeLonge may have been named UFO Researcher of the Year back in 2017, but the pop-punk musician's latest endeavor into the unknown hasn't exactly gone as planned. DeLonge's To the Stars Academy of Arts and Sciences, an organization he co-founded in an attempt to further UFO research, has amassed an astonishing $37.4 million in debt.
According to a financial report filed with the Securities and Exchange Commission (SEC) last month, it looks as if To the Stars is on the brink of ceasing operations. As Ars Technica pointed out, the company began selling $50 million worth of stock to stay afloat. To the Stars plans to continue for the next 12 months by selling additional stock. It's unclear, however, if it will actually make it that long considering just how much debt they've managed to rake up so far.
This isn't the only UFO and alien-related project DeLonge has been involved with over the years, having launched his multimedia project Sekret Machines back in 2016. Launched as part of a banner for him to release UFO-themed books, music, and films, Sekret Machines hasn't had many releases attached to its name so far.
Unless DeLonge and company can find a way to raise capital for their ongoing research, it seems unlikely that To the Stars will manage to make it to the end of 2018. They did enter an agreement with Austin research firm EarthTech to work on materials analysis, but they still don't have a lot to show for their research.
