Tom DeLonge's UFO Organization Has a $37.4 Million Deficit - 2018-10-15
This last project is meant to investigate the nature and origin of exotic materials that are claimed to have come from UFOs and are supposedly being stockpiled in a warehouse in Nevada. To this end, To the Stars partnered with EarthTech, a research firm connected to the Institute for Advanced Studies in Austin, Texas. These research labs were founded in the mid-80s by Harold Puthoff, who formerly directed a CIA investigation into paranormal abilities.
According to the filing, To the Stars entered into an agreement with EarthTech in August to work on both materials analysis and "beamed energy propulsion launch systems." This is related to the organization's goals of working on space time metric engineering, this is a theoretical form of advanced propulsion that would allow for faster than light travel. It has previously been investigated by some members of the NASA team trying to build an Em-Drive.
Unfortunately for DeLonge and his collaborators, their hopes of researching exotic propulsion and extraterrestrial material science may be dead in the water unless they can figure out a way to raise capital for their efforts.