To The Stars Or Crash And Burn

To the Stars Academy of Arts and Sciences, co-founded by former Blink-182 frontman Tom DeLonge under the guise of being dedicated to studying UFOs and developing advanced technologies, may be on the brink of disaster.
Originally founded by DeLonge in 2014, To the Stars began as a media company that specialized in books and entertainment about UFOs and other unexplained phenomenon. In 2016, it launched DeLonge’s “Sekret Machines,” a project that was planned to involve films, music, and books. The first book of the project, Chasing Shadows, was published later that year.
To the Stars became the “entertainment division” of a holding company called To the Stars Academy of Arts and Sciences in 2017. This larger company, besides producing entertainment products, would also engage in the investigation of UFOs and other fringe science projects.
In September 2017, the company began offering $50 million worth of stock to fund its operations. Its website claims to have a total of 2,547 investors, however according to a recent SEC filing, To the Stars has only sold a little over $1 million worth of stock. The filing was required as part of a Regulation A+ equity crowdfunding campaign, a new type of crowdfunding that became legal in 2015.
The SEC filing “raises doubts about the company’s ability to continue.” According to the report filed in September, the company has accumulated $37.4 million in debt and these factors raise doubt about the company’s ability to continue as a going concern.
(Photo courtesy of Consequence of Sound)

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