Former Blink-182 guitarist Tom DeLonge is still done with writing pop-punk tunes and is determined to find aliens. Last year, he founded To The Stars Academy of Arts & Sciences, but he’s having some difficulty in year-one with cash flow, considering the company is now $37 million USD in debt.
A Blink-182 subreddit discovered a recent SEC filing, and Ars Technica broke it down, revealing that despite having open enrolment for Americans to purchase stocks, To The Stars has created a huge amount of debt.
Despite that, To The Stars will continue with its plans to sell stocks to make it all work, and company lead, Tom DeLonge, doesn’t foresee a need to close the business:
Had 4 very big things happen this month at To The Stars Academy. Working on something that will be international in scope, and extraordinarily ambitious. Far from done, but the interest is there. Multiple countries, and TTSA leading the “build.” It takes time to change the world-
— Tom DeLonge (@tomdelonge) September 16, 2018
Who knows, maybe DeLonge will uncover the secrets of the universe and their stocks will sky rocket. Or he could rejoin Blink-182.