Within To The Stars
Can a UFO Company Serve the Public?
TTSA turned UFO advocacy into a public-benefit company that blended research promises, media products and investor participation.
On this page
- Why TTSA used a public benefit corporation
- How aerospace, science and entertainment were packaged together
- What investors were told the SEC did and did not approve
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Introduction
To The Stars Academy of Arts & Science (TTSA) stood out from earlier UFO organisations because it was created not as a membership society or a conventional media company, but as a Delaware public benefit corporation that invited members of the public to become investors. That structure allowed it to combine entertainment, aerospace research and public advocacy under a single corporate umbrella while arguing that it existed to serve a broader public purpose rather than only shareholder profit. At the same time, the model raised difficult questions. TTSA made ambitious statements about future aerospace research and unidentified aerial phenomena (UAP), but its own regulatory filings repeatedly warned investors that many proposed technologies might never succeed and that extraordinary claims remained unproven. Understanding TTSA therefore requires looking not only at its UFO messaging, but also at how its corporate governance shaped what it promised, how it raised money and what investors were told.
Why TTSA used a public-benefit corporation
TTSA incorporated as a public benefit corporation (PBC) in Delaware in 2017. Unlike an ordinary for-profit corporation, a PBC is legally permitted to pursue one or more stated public benefits alongside financial returns. TTSA described its public purpose as advancing research, innovation and education at the “outer edges of science and engineering”, while using entertainment to reach a broad audience. [SEC]sec.govtv492460 partiiOur subsidiary TTS did not compensate its executive officer and sole director, Tom…Read more…
That legal form mattered because TTSA was attempting to reconcile several objectives that might otherwise appear contradictory:
- conducting speculative aerospace and scientific research;
- producing commercial entertainment products;
- educating the public about UAP;
- generating revenue for investors.
Rather than presenting these as competing goals, TTSA argued that each reinforced the others. Books, documentaries and television projects would fund research while simultaneously educating audiences. Research findings, in turn, could create new media products and intellectual property. The company’s governance documents therefore described science, aerospace and entertainment as integrated divisions rather than separate businesses. [SEC]sec.govtv492460 partiiOur subsidiary TTS did not compensate its executive officer and sole director, Tom…Read more…
Importantly, becoming a public-benefit corporation did not make TTSA a charity or non-profit organisation. Investors purchased equity in a for-profit company whose directors retained discretion to balance shareholder interests with the corporation’s declared public mission. [SEC]sec.govtv492460 partiiOur subsidiary TTS did not compensate its executive officer and sole director, Tom…Read more…
How aerospace, science and entertainment were packaged together
TTSA’s corporate strategy depended on treating UFO-related subjects as simultaneously scientific, cultural and commercial.
Its filings described three principal operating areas:
- Entertainment, producing books, films, television, music and branded merchandise.
- Science, studying unexplained phenomena and encouraging public participation in research.
- Aerospace, pursuing long-term concepts including advanced propulsion, novel materials and related technologies. [SEC]sec.govtv492460 partiiOur subsidiary TTS did not compensate its executive officer and sole director, Tom…Read more…
This combination distinguished TTSA from traditional UFO advocacy groups. Instead of simply collecting witness reports or lobbying government, the company sought to create a self-reinforcing ecosystem in which entertainment attracted audiences, audiences attracted investors, and investment financed scientific work.
Tom DeLonge’s celebrity status formed an explicit part of this model rather than merely providing publicity. SEC filings disclosed licensing arrangements covering his name, likeness, trademarks and creative works, allowing the company to build commercial products around an established entertainment brand while pursuing its public-benefit mission. [to-the-stars-web-assets.s3.amazonaws.com]to-the-stars-web-assets.s3.amazonaws.comoffering circular dated september 29, 2017October 6, 2017 — 29 Sept 2017 — Under a Licensing Agreement, we are required to pay royalty pa…
TTSA also described plans for a “Community of Interest” through which members of the public could submit reports and data related to unexplained aerial phenomena. This reinforced the company’s presentation of itself as both a media producer and a platform for citizen participation in research. [SEC]sec.govtv492460 partiiOur subsidiary TTS did not compensate its executive officer and sole director, Tom…Read more…
How UFO claims fit into the business model
TTSA rarely framed its public case as “we have proved extraterrestrial visitors.” Instead, it argued that unexplained aerial phenomena deserved systematic investigation because they might represent:
- advanced aerospace technologies;
- misunderstood physical phenomena;
- national security concerns;
- or other unidentified but significant observations.
Its filings nevertheless discussed ambitious research aspirations, including beamed-energy propulsion, space-time metric engineering, advanced materials and investigations into unusual metamaterials. At the same time, the same offering documents warned investors that these projects involved substantial technical uncertainty and could fail entirely. [SEC]sec.govtv492460 partiiOur subsidiary TTS did not compensate its executive officer and sole director, Tom…Read more…
A good example is TTSA’s acquisition of pieces of material claimed by previous UFO researchers to possess unusual properties. Rather than stating that alien technology had been confirmed, the company said it intended to test the materials independently. Subsequent partnerships, including a cooperative research agreement with the U.S. Army concerning evaluation of advanced materials and related technologies, reflected interest in examining these claims rather than official confirmation that extraordinary properties had been established. Independent scientists and materials experts remained sceptical that publicly available evidence demonstrated anything beyond ordinary industrial alloys. [TWZ]twz.comThe Army Wants To Verify To The Stars Academy's…20 Oct 2019 — An official agreement makes it clear the Army wants to explore the po…
This distinction is important. TTSA consistently promoted investigation of unusual claims, but publicly available evidence has not demonstrated that its research established extraterrestrial technology or revolutionary aerospace breakthroughs.
What investors were told the SEC did and did not approve
One of the most frequently misunderstood aspects of TTSA concerns its relationship with the U.S. Securities and Exchange Commission (SEC).
TTSA used a Regulation A+ offering, allowing members of the public—not only accredited investors—to purchase shares after the SEC qualified its offering documents. That qualification required disclosure and regulatory review of the offering materials. It did not mean the SEC endorsed the company’s science, business prospects or UFO-related claims. SEC investor guidance explicitly explains that qualification of a Regulation A offering should not be interpreted as approval or validation of the investment. [Investor]investor.govRegulation A – Updated Investor BulletinRegulation A – Updated Investor BulletinApril 14, 2021 — For Tier 1 offerings, the offering circular must be filed with, and is s…
TTSA’s own filings likewise contained extensive risk disclosures, including warnings that:
- proposed aerospace technologies might never become commercially viable;
- scientific research could fail to produce expected discoveries;
- commercial success depended on uncertain media revenues;
- investors could lose their entire investment. [SEC]sec.govTo The Stars Academy of Arts and Science IncTo The Stars Academy of Arts and Science Inc. - SEC.govPRELIMINARY OFFERING CIRCULAR DATED AUGUST 15, 2017. To The Stars Academy of Ar…
These disclosures are significant because public discussion sometimes blurred the distinction between SEC qualification of securities documents and government endorsement of TTSA’s underlying UFO claims. The former is a routine securities-law process; the latter never occurred.
What the corporate model achieved—and where it faced criticism
TTSA’s structure achieved something unusual within modern UFO culture. It transformed discussion of unidentified aerial phenomena into a corporate project that combined governance, intellectual property, public participation and investment.
Supporters argued that this approach:
- attracted experienced former defence and intelligence officials;
- broadened public engagement with UAP;
- created funding mechanisms unavailable to volunteer organisations;
- encouraged more serious discussion of aviation safety and government transparency.
Critics, however, questioned whether speculative scientific ambitions had become too closely tied to commercial incentives. Journalists examining TTSA’s SEC filings noted slower-than-expected fundraising, significant accumulated losses and the financial risks inherent in combining highly speculative research with entertainment and merchandising. Those observations did not demonstrate fraud or invalidate the company’s mission, but they highlighted the practical difficulty of financing frontier research through public equity crowdfunding. [VICE]vice.comTom DeLonge's UFO Organization Has a $37.4 Million DeficitOctober 15, 2018 — 15 Oct 2018 — Because it has public, non accredited inve…
The resulting tension became central to TTSA’s public identity. Its governance model encouraged long-term experimentation and public outreach, yet it also required balancing investor expectations with scientific uncertainty—particularly in a field where extraordinary evidence remained elusive.
The lasting significance of TTSA’s governance model
TTSA’s most enduring contribution may be organisational rather than scientific. It demonstrated that UFO advocacy could be structured as a branded public-benefit company rather than solely as a media project, research group or enthusiast organisation.
Whether one accepts or rejects its interpretations of UAP, TTSA showed how corporate governance, celebrity influence, public investment and scientific ambition could be combined into a single institutional model. It also illustrated the limits of that approach: a public-benefit corporation can encourage investigation, fund research and popularise debate, but its legal structure does not itself validate extraordinary claims. The distinction between corporate mission, scientific hypothesis and demonstrated evidence remains fundamental to understanding TTSA’s place in the modern history of UFO advocacy.
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Endnotes
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Source: sec.gov
Title: tv492460 partii
Link: https://www.sec.gov/Archives/edgar/data/1710274/000114420418023727/tv492460_partii.htmSource snippet
Our subsidiary TTS did not compensate its executive officer and sole director, Tom...Read more...
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Source: sec.gov
Title: To The Stars Academy of Arts and Science Inc
Link: https://www.sec.gov/Archives/edgar/data/1710274/000114420417043466/v473169_partiiandiii.htmSource snippet
To The Stars Academy of Arts and Science Inc. - SEC.govPRELIMINARY OFFERING CIRCULAR DATED AUGUST 15, 2017. To The Stars Academy of Ar...
Published: August 15, 2017
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Source: sec.gov
Title: tv525071 253g2
Link: https://www.sec.gov/Archives/edgar/data/1710274/000114420419034515/tv525071_253g2.htmSource snippet
offering circular dated july 12, 2019TTS Academy is the parent company of To The Stars, Inc. “TTS Inc.”, a vertically integrated entertai...
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Source: to-the-stars-web-assets.s3.amazonaws.com
Link: https://to-the-stars-web-assets.s3.amazonaws.com/downloads/TTSA_Offering_Circular_092917_vLAUNCH_DAY.pdfSource snippet
offering circular dated september 29, 2017October 6, 2017 — 29 Sept 2017 — Under a Licensing Agreement, we are required to pay royalty pa...
Published: September 29, 2017
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Source: twz.com
Link: https://www.twz.com/30498/the-army-wants-to-verify-to-the-stars-academys-fantastic-ufo-mystery-material-claimsSource snippet
The Army Wants To Verify To The Stars Academy's...20 Oct 2019 — An official agreement makes it clear the Army wants to explore the po...
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Source: investor.gov
Title: Regulation A – Updated Investor Bulletin
Link: https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/updated-1Source snippet
Regulation A – Updated Investor BulletinApril 14, 2021 — For Tier 1 offerings, the offering circular must be filed with, and is s...
Published: April 14, 2021
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Source: vice.com
Link: https://www.vice.com/en/article/tom-delonges-ufo-organization-is-37-million-in-debt/Source snippet
Tom DeLonge's UFO Organization Has a $37.4 Million DeficitOctober 15, 2018 — 15 Oct 2018 — Because it has public, non accredited inve...
Published: October 15, 2018
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Source: sec.gov
Title: Untitled OFFERIN G CIRCULAR DATED
Link: https://www.sec.gov/Archives/edgar/data/1710274/000114420419029517/tv522799_partiiandiii.htmSource snippet
UntitledOFFERING CIRCULAR DATED JUNE 3, 2019. To The Stars Academy of Arts and Science Inc. 315 S. Coast Hwy 101. Suite U38. Encinitas, C...
Published: June 3, 2019
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Source: sec.gov
Link: https://www.sec.gov/Archives/edgar/data/1710274/000110465920072815/tm2022367d1_partii.htmSource snippet
te its executive officer and sole director, Tom DeLonge in cash.Read more...
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Source: tothestars.media
Link: https://tothestars.media/pages/research?srsltid=AfmBOorD17Nxk_RzLj5aeHnEy2XTDjsOWC-y-hJk9FQCz34bS3DSuxUg -
Source: to-the-stars.webflow.io
Link: https://to-the-stars.webflow.io/Source snippet
To The Stars* | Early InvestorsTom DeLonge of Blink-182/Angels & Airwaves Opens To the Stars Inc. to Investors Via New Reg A Crowdfunding...
Additional References
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Source: jasoncolavito.com
Link: https://www.jasoncolavito.com/blog/not-quite-a-ufo-ipo-tom-delonge-is-seeking-your-investment-in-to-the-stars-to-give-himself-a-700000-or-more-paydaySource snippet
Not Quite a "UFO IPO": Tom DeLonge Is Seeking Your...11 Oct 2017 — DeLonge is soliciting investment by registering TTS AAS as a public b...
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Source: sec.state.ma.us
Link: https://www.sec.state.ma.us/divisions/corporations/general-information/benefit-corporations.htmSource snippet
ssachusetts Secretary of StateBenefit CorporationsThe new Chapter 156E, signed into law as part of the Acts, governs the establishment...
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Source: docs.house.gov
Link: https://docs.house.gov/meetings/SY/SY21/20180411/108175/HHRG-115-SY21-20180411-SD003.pdfSource snippet
or spies: foreign plots targeting america's research...11 Apr 2018 — at ProPublica, a non-profit website for investigative [reporting]({{ 'reporting/' | relative_url }})...
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Source: augment.market
Title: SE C rules for private companies: what every investor should know
Link: https://augment.market/manual/sec-rules-for-private-companies-what-every-investor-should-know-augmentSource snippet
SEC rules for private companies: what every investor should knowApril 27, 2026 — Explore key SEC rules for private companies, including e...
Published: April 27, 2026
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Source: reddit.com
Link: https://www.reddit.com/r/Blink182/comments/1k4nico/is_tom_still_active_in_to_the_stars_are_they/Source snippet
Is he still doing To The Stars at all? Feel like there were some major disclosures (kind of?). What's...
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Source: clsbluesky.law.columbia.edu
Title: sec commissioner speaks on offerings exempted from registration
Link: https://clsbluesky.law.columbia.edu/2024/01/23/sec-commissioner-speaks-on-offerings-exempted-from-registration/Source snippet
Commissioner Speaks on Offerings Exempted from RegistrationJanuary 23, 2024 — Nearly fifty years after the adoption of former rule 146, t...
Published: January 23, 2024
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Source: pryorcashman.com
Link: https://www.pryorcashman.com/publications/sec-proposes-sweeping-reforms-to-registered-offerings-and-reporting-obligations-for-public-companiesSource snippet
SEC Proposes Sweeping Reforms to Registered Offerings and...May 26, 2026 — The SEC's proposal would eliminate both the one-year seasonin...
Published: May 26, 2026
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Source: thebrag.com
Link: https://thebrag.com/tom-delonges-to-the-stars-academy-has-allegedly-obtained-metamaterials-not-of-this-world/Source snippet
However, will 'metamaterials' be enough to pull the academy back from the brink...Read more...
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Source: torresbusinesslaw.com
Title: What Does SEC’s Proposal Mean for Form S-3 Eligibility?
Link: https://www.torresbusinesslaw.com/blog/sec-proposal-could-expand-form-s-3-eligibility-what-public-companies-should-know/Source snippet
June 9, 2026 — Form S-3 is a short-form registration statement that allows eligible public companies to conduct registered securities off...
Published: June 9, 2026
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Source: reuters.com
Link: https://www.reuters.com/legal/litigation/metas-social-media-litigation-who-pays-lawyers-2026-06-23/Source snippet
designing features to exploit teenagers' developing brains and foster...Read more...
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