Spoiler alert: Tom DeLonge stands to make a lot of money, while UFO disclosure is, to put it mildly, not a priority. The company is currently in
significant debt relative to earnings.
It's interesting to see the difference between TTS AAS’s public face and what they confess in their financial filings.
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In documents filed with the SEC, TTS AAS describes itself not as an educational institution, as DeLonge deceptively promotes it in the media with the “Academy” name, but rather as one that provides “services aligned to motion picture production.” Heck, TTS AAS even describes itself on its own website as “a vertically integrated entertainment business that develops, produces and distributes multi-media and merchandise world-wide.”
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Basically, it sure looks like it’s a media company that sees “disclosure” as the content it’s pursuing only insofar as it provides grist for the entertainment products.
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TTS AAS is authorized to sell more than 100 million shares of stock, though for its current subscription, it is limited to 10 million shares, meaning that the company values itself at $50 million—a laughably large amount for a company whose products are a couple of mediocre books, some accessories, and a pipe dream.
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DeLonge, though, is certainly a beneficiary. Documents
laying out what he gets paid make pretty clear that this is intended to be a very lucrative investment for him.
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The company also agrees to take on and pay off DeLonge’s own royalty payments to another entity, and agrees that all of its products using DeLonge’s material are works for hire made for Tom DeLonge, who owns the intellectual property in perpetuity.
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So, basically, DeLonge is giving himself a minimum $100,000 annual income
just for the use of his music and image. As I read it, he would then be entitled to even more money as president and CEO of the company and possibly still more money for the original TTS AAS products he develops as part of its regular operations—i.e., the movies.
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Given that the payments are supposed to last for at least seven years, don’t expect “disclosure” any time soon.
What is utterly astonishing is that DeLonge is using “disclosure” to sell t-shirts and CDs, and this, in turn, seems designed to create demand for TTS AAS stock. The money taken in through the stock offering—one million dollars or more—is already earmarked to the tune of $700,000 minimum to DeLonge himself.
In short, this is what TTS AAS is all about: Big cash payments in a for-profit entertainment company. This is hardly a nonprofit selflessly pursuing “truth.” “Disclosure” is simply a product sold for profit.
