NEWS: Tom DeLonge’s science company has a reported $37.4 million deficit!

Credit: Promo

Founded in 2015, Tom DeLonge‘s (ex-Blink-182/Angels & Airwaves) scientific research company To The Stars Academy Of Arts & Science reportedly has a deficit of over $37.4 million.

To clarify, a deficit amount is not quite the same as a debt amount. A debt refers to the amount of money that is owed, and a budget deficit, or surplus, is the difference between the company’s everyday expenses and its revenues; in other words, between what it spends and what it receives.

To The Stars Academy Of Arts & Science‘s focus surrounds research and analysis of alien life, and on its website states that they strive to be “a powerful vehicle for change by creating a consortium among science, aerospace and entertainment.”

News of this financial situation for the company comes from online publication Ars Technica (full article here), which includes a recent filing from the US Securities and Exchange Commission regarding its financial situation.

“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.”

The financial filing also states that the company intends to remain in business over the next 12 months by selling additional stock.

DeLonge‘s interest and involvement in alien life, especially in recent years, has been well documented and publicised. Last year, he also picked up an award for ‘UFO Researcher Of The Year’ from website and YouTube channel, Open Minds TV.

You can take a look at his award acceptance speech below.

Those who want to know more about To The Stars Academy Of Arts & Science can head on over to the official website (here).