![Tom DeLonge’s UFO Hunting Company Is $37 Million in Debt – Updated](http://townsquare.media/site/366/files/2018/10/tom-delonge.jpg?w=980&q=75)
Tom DeLonge’s UFO Hunting Company Is $37 Million in Debt – Updated
UPDATE: DeLonge is now denying that the $37,432,000 figure is "debt," but rather a "deficit" that is "attributed to stockholders’ equity." Read his statement in full below.
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ORIGINAL POST: Former Blink-182 guitarist/vocalist Tom DeLonge has been hunting aliens with his company To the Stars since he was dismissed from the band in 2015. His ventures, however, seem to be doomed to come to a crashing halt as it has been revealed that the company is over $37 million in debt.
Tech site Ars Technica dug up a biannual financial report for To the Stars, which revealed the substantial number. Filed through the Securities and Exchange Commission, the listing adds that the company plans to remain in operation for the next 12 months by attempting to sell its stock. "These factors raise doubt about the Company’s ability to continue as a going concern," reads the filing.
To put their current situation into context, read an excerpt below:
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. We have an accumulated deficit at June 30, 2018 of $37,432,000. We expect to incur substantial expenses and generate continued operating losses until we generate revenues sufficient to meet our obligations. Thus, until we can generate sufficient cash flows to fund operations, we are dependent on raising additional capital through debt and/or equity transactions. At June 30, 2018, the company had cash of $129,534.
Last December, DeLonge released a video of what he claimed to be evidence of extraterrestrial life. Neil deGrasse Tyson then proceeded to destroy the clip on CNN’s New Day. "Call me when you have a dinner invite from an alien," Tyson said. “The evidence is so paltry for aliens to visit Earth, I have no further interest. Let other people who care go ahead, and then when you finally find some aliens bring them into Times Square.”
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