Tom DeLonge has refuted a report that claims his UFO research organization, To The Stars Academy of Arts and Science, is in $37 million debt.
On Monday, a report from ArsTechnica reported, citing a filing from the US Securities and Exchange Commission, that To The Stars “incurred losses from operations and has an accumulated deficit at June 30, 2018 of $37,432,000.” The article had initially posted deficit as debt and later updated it.
The former Blink-182 frontman, in an Instagram post, responded, “The approximate $37 million stockholders’ deficit is NOT DEBT as he characterized it but is attributable to stock-based compensation expense. This article is highly misleading and grossly mischaracterizes statements in an SEC filing.”
“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.”
“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.”
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