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Tom Delonges UFO Company $34.4 million in Debt

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posted on Oct, 16 2018 @ 01:42 AM
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originally posted by: weirdguy
wow $37 mill is a lot of blow. I lost interest in his endeavour after his Joe Rogan interview, he came across as being unprofessional and under the influence of chems. "Sniff sniff I'll show you ma dick".


Yes. It was not pleasant to watch.

I see many miffed people.





posted on Oct, 16 2018 @ 02:01 AM
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a reply to: studio500

Well now we can scratch the "he did it to make money" accusations. Unless that's the debt because he paid his own salary that high. Like others said it will be interesting to see if he brings his own money to the table to save it, or if it was just an adventure they let die now.
I thought with the books and merchendising they made some money? Now it looks like a complete and total fail.



posted on Oct, 16 2018 @ 02:20 AM
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originally posted by: studio500
Well, according to another report
TDL has replied via instagram 2 hrs ago to arstechnica.com and the piece written about him and alleged 'debt'.



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. OUR LETTER TO THEM: 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. Mr. Berger apparently did not EVEN READ the filing in its entirety, and clearly did not understand the excerpt of the SEC filing he quotes. The approximate $37 million stockholders’ deficit is NOT DEBT as he characterized it but is attributable to stock-based compensation expense. IT IS NOT RELATED TO THE OPERATIONAL RESULTS OF THE COMPANY. The Consolidated Balance Sheets of To The Stars Academy of Arts and Science in the SEC filing quoted by your author clearly shows the approximately $37 million deficit is attributed to Stockholders’ Equity (Deficit). The filing goes on to explain the mechanism for calculating stock-based compensation and details the various grants of stock options by the company. Mr. Berger’s characterizations of this as debt implies that it stems from traditional borrowings. Had Mr. Berger bothered to email or call us we could have directed him to these portions of the SEC filing and walked him through it. For Mr. Berger to make the conclusions he did on incomplete research and his own interpretations without contacting Mr. DeLonge or the company is inexcusable. We request that you print this letter in full within the article as our statement.


Apparently the original article has since been slightly modified to "reflect a more accurate picture of the company's finances."

Even after reading the explanation relating to Stockholders Equity Deficit and calculating stock-based compensation, I must admit, it's about as clear as mud to me.



Hmm... Are these beaurocratic "dis tracks" lol...
Scripted beefs?
Any publicity is good publicity?

If so... "Cunning I say!"
I'm all for Tom's efforts...
Regardless of nasty nasty nay saying.



posted on Oct, 16 2018 @ 06:45 AM
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a reply to: prevenge


I'm all for Tom's efforts... 
Regardless of nasty nasty nay saying.


Yes amongst all the negative I still hope something great will result from all this. So far however , it seems pretty messy?
😐



posted on Oct, 16 2018 @ 06:58 AM
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I think the main bullet points are that TTSA is filed as a SERVICES ALLIED TO MOTION PICTURES company



Tom might well claim


The approximate $37 million stockholders’ deficit is NOT DEBT as he characterized it but is attributable to stock-based compensation expense. IT IS NOT RELATED TO THE OPERATIONAL RESULTS OF THE COMPANY.



However the SEC filings confirm the huge deficit actually is a problem to ongoing operations if not operational results.


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.

See : SEC Filings


I've used this video a number of times as it simplifies things and show you how the money shuffle works



Not much about UFOs I'm afraid.



posted on Oct, 16 2018 @ 07:11 AM
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originally posted by: mirageman
I think the main bullet points are that TTSA is filed as a SERVICES ALLIED TO MOTION PICTURES company



Tom might well claim


The approximate $37 million stockholders’ deficit is NOT DEBT as he characterized it but is attributable to stock-based compensation expense. IT IS NOT RELATED TO THE OPERATIONAL RESULTS OF THE COMPANY.



However the SEC filings confirm the huge deficit actually is a problem to ongoing operations if not operational results.


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.

See : SEC Filings


I've used this video a number of times as it simplifies things and show you how the money shuffle works



Not much about UFOs I'm afraid.

That’s one hell of a scam.



posted on Oct, 16 2018 @ 07:25 AM
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a reply to: BigDave-AR

They aren't actually doing anything illegal.

But some other activities confirmed.




In September 2017, the Company’s Regulation A offering was qualified by the Securities and Exchange Commission. As of June 30, 2018, investors have committed approximately $1,167,000 under the ongoing offering

* On September 18, 2018, the Entertainment Division released the much-anticipated sequel in its ‘Sekret Machines’ fiction series, the novel ‘A Fire Within’. In the next 6-12 months, the company....will participate in a nationally syndicated television docu-series, release new music, and will develop educational materials related to its scientific and aerospace initiatives.



The TTSA website stopped showing the amount raised in investments after it reached $2.4m a few months ago. That's a huge drop to £1.2m (half of what they were claiming they had raised). Some huge donors must have dropped out.

But they are true to their filings as a Service to Motion Pictures though. They are producing a syndicated television series.

One other thing is that Hal Puthoff who is a Director of TTSA is also DIrector of EarthTech International. EarthTech has been awarded a $30k contract with TTSA for testing bits of materials that allegedly fell from UFOs.

So even if it turns out to be gravel Hal makes money! And he gets to be on TV.


edit on 16/10/2018 by mirageman because: ...



posted on Oct, 16 2018 @ 07:48 AM
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a reply to: BigDave-AR

But its got a Roswell and Rendlesham bit. I wonder how that will go?
edit on 16-10-2018 by Baablacksheep because: (no reason given)



posted on Oct, 16 2018 @ 08:14 AM
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a reply to: studio500


Deficit due to "largely from a stock incentive plan for its employees". That is a heck of a stock incentive to be that much in the hole. They can't have that many people working for the Stars Academy of Arts and Science right? I think its mostly the team that might be bleeding this company dry. Some highly paid former CIA/DoD, former CEO of EarthTech, ex Skunk Works staff, a few Ph.Ds' so yeah I can see how they might have went through that kinda cash in a relatively short amount of time.



posted on Oct, 16 2018 @ 08:24 AM
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originally posted by: mirageman
a reply to: BigDave-AR

They aren't actually doing anything illegal.

But some other activities confirmed.




In September 2017, the Company’s Regulation A offering was qualified by the Securities and Exchange Commission. As of June 30, 2018, investors have committed approximately $1,167,000 under the ongoing offering

* On September 18, 2018, the Entertainment Division released the much-anticipated sequel in its ‘Sekret Machines’ fiction series, the novel ‘A Fire Within’. In the next 6-12 months, the company....will participate in a nationally syndicated television docu-series, release new music, and will develop educational materials related to its scientific and aerospace initiatives.



The TTSA website stopped showing the amount raised in investments after it reached $2.4m a few months ago. That's a huge drop to £1.2m (half of what they were claiming they had raised). Some huge donors must have dropped out.

But they are true to their filings as a Service to Motion Pictures though. They are producing a syndicated television series.

One other thing is that Hal Puthoff who is a Director of TTSA is also DIrector of EarthTech International. EarthTech has been awarded a $30k contract with TTSA for testing bits of materials that allegedly fell from UFOs.

So even if it turns out to be gravel Hal makes money! And he gets to be on TV.


Not saying an illegal scam necessarily just a legal blue collar scam from the looks.



posted on Oct, 16 2018 @ 01:32 PM
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Tom’s lawyer: You’ve got to stop wasting money on this crap
Tom: Say it ain’t so...
Lawyers: You’re gonna have to go to court
Tom: I will not go...
Lawyer: I’m leaving Mr.Delonge
Tom: Turn the lights off..
Lawyers: Please stop
Tom: carry me home...
Lawyers: Sir
Tom: Nananananana



posted on Oct, 16 2018 @ 01:42 PM
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originally posted by: RexKramerPRT
Tom’s lawyer: You’ve got to stop wasting money on this crap
Tom: Say it ain’t so...
Lawyers: You’re gonna have to go to court
Tom: I will not go...
Lawyer: I’m leaving Mr.Delonge
Tom: Turn the lights off..
Lawyers: Please stop
Tom: carry me home...
Lawyers: Sir
Tom: Nananananana

You win the interwebs for today



posted on Oct, 17 2018 @ 03:07 PM
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Tom Delonges UFO Company $34.4 million in Debt


Nope, it isn't.

I've suddenly been sucked into a bizarre alternate reality where I actually agree with Tom DeLonge on some things. Help!!!

Well, I agree with him on the specific point that some of the recent media coverage and online comments about TTSA's alleged multi-million dollar debt is misconceived and unfair.

I've posted a fairly long item about the alleged "debt" here:
ufoinquiry.blogspot.com...



As explained below, however, that SEC filing does:

(1) _NOT_ show that TTSA has a debt of $37 million;

(2) _NOT_ show that TTSA has spent $37 million;

(3) _NOT_ show that TTSA has borrowed $37 million.



posted on Oct, 17 2018 @ 03:24 PM
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a reply to: Peeple




Well now we can scratch the "he did it to make money" accusations.


Why?

Many people do things simply to make money, however they don't always succeed.



posted on Oct, 17 2018 @ 07:34 PM
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a reply to: IsaacKoi

Thanks .

Greatly appreciated



posted on Oct, 17 2018 @ 08:15 PM
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a reply to: IsaacKoi

Thanks again.

I just read through your summary again.

I didn’t see where in the TTSA paperwork ( or did they not) place a fair market value price on their shares?


I know you don’t want to speculate but in your very general opinion - are many companies run with this level of complexity.

I’m not familiar with how this works and am wondering is this common? Or does this scream of a guy with some money using his hobby to evade taxes ( pure speculation and a single example.)

Ur the man IssacKoi



posted on Oct, 17 2018 @ 10:23 PM
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originally posted by: Paddyofurniture
a reply to: IsaacKoi

Thanks again.

I just read through your summary again.

I didn’t see where in the TTSA paperwork ( or did they not) place a fair market value price on their shares?


I know you don’t want to speculate but in your very general opinion - are many companies run with this level of complexity.

I’m not familiar with how this works and am wondering is this common? Or does this scream of a guy with some money using his hobby to evade taxes ( pure speculation and a single example.)

Ur the man IssacKoi


Wasn’t it $.05?



posted on Oct, 18 2018 @ 06:12 AM
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a reply to: Paddyofurniture

The Offering Circular gave a "Tangible Net Book Value of $0.003 per share.

These shares were sold for $5 a piece to the public. Various members of the board have options on stock at $0.003 per share.



posted on Oct, 18 2018 @ 06:54 AM
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originally posted by: mirageman
a reply to: Paddyofurniture

The Offering Circular gave a "Tangible Net Book Value of $0.003 per share.

These shares were sold for $5 a piece to the public. Various members of the board have options on stock at $0.003 per share.

Touch I didn’t realize I was that far off, I had thought it was $.03 or .05 little did I know I was missing a few decimal spaces!



posted on Oct, 18 2018 @ 10:32 AM
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a reply to: mirageman


Hi MM,

So Just as a general question to the financial world or any financial professionals out there.

Is this company structure normal?

If this company was not TTSA , but just a small upstart tech company that wanted to fund raise. Is the TTSA model something a similar company would use?

Is this just the work of a good accounting firm that works for Delonge and this is common business trade , or is this company financial structure exotic ?




edit on 18-10-2018 by Paddyofurniture because: (no reason given)




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