Things are not going well for former Blink-182 member Tom DeLonge’s UFO company, which has reportedly racked up a massive debt of more than $37.4 million.
According to a report in Ars Technica, DeLonge’s To The Stars Academy Of Arts And Sciences, which is devoted to the study of alien life, has accrued a deficit of $37,432,000.
According to the report, 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.”
Just last month, DeLonge took to Twitter to crowdfund for the academy, in hopes of raising money for the construction of a spaceship, as well as inviting new investors and selling off its stock to investors.
The singer, 42, has won awards for his research with the school; in 2017, he picked up UFO Researcher Of The Year from UFO website/YouTube channel Open Minds TV.
Since his departure from the Grammy-nominated band three years ago, DeLonge has focused exclusively on UFO studies.