If the offering size were to be less than $5 million and above the $1 million minimum, TTS AAS would adjust its use of proceeds by reducing planned growth of employee headcount, reducing operational costs, and slowing down projects or not making investment in projects. The company is also required under the loan to Our Two Dogs, Inc. to repay 10% of the net proceeds from funds raised in this offering, up to $400,000 in this scenario.With the offering having raised thus far approximately $2,500,000, and with the offering of shares to end on September 29, 2018, it appears likely that $5 million will not be reached, and 10% of the net proceeds will go To The Dogs.
In a similar vein, Jess Weisbein writes in Best Techie "I’m a huge Tom DeLonge fan, but don’t invest in his latest venture":
As we just discussed, $50 million isn’t even enough to work on the projects they’ve highlighted in the letter, how would $1 million help? It wouldn’t help with anything other than paying back Tom for a “loan” he gave To The Stars in 2015 and 2016.But what in the world is "Our Two Dogs"?
Dun & Bradstreet business listing for "Our Two Dogs." A retail Hot Dog Stand. Contact person: Thomas M Delonge.
Mirageman wrote,The phone number appears to be the same one as for Louis Tommasino, CPA & Associates. When I called and asked if they delivered freshly made hotdogs to England I was asked why didn't I cough four times. Whatever that meant?...
To the Stars Academy employees less people (3) than the hotdog stand and is being loaned more cash from the hotdog stand than it generates as revenue (not profit) in a year.
Key Personnel of "To The Stars". Louis Tommasino is the Chief Financial Officer.Surprisingly, Yelp (on-line customer reviews) in San Diego has no listing for "Our Two Dogs." You can find "Hot Diggety Dog," "Wobbly Wieners," and pages of other hot dog vendors listed. "Our Two Dogs" does not seem to have any customers, or any retail location, yet reportedly employs twelve people and has a revenue of over $400,000 a year. Something about this is not right!
Visiting 6265 Greenwich Drive, San DiegoSince this is not terribly far from where I live, I went down to 6265 Greenwich Drive in San Diego, which is in the business park area of the Sorrento Valley. The suite number of Our Two Dogs, 210, indeed takes you to the offices of Louis Tommasino, CPA, who is the Chief Financial Officer of To The Stars Academy.
Suite 210: Louis Tommasino, CPAI walked into the office holding a copy of Dun & Bradstreet's report on Our Two Dogs. I began by handing the receptionist my card, and asking her about the supposed hot dog stand. A gentleman overheard what I was saying, and came over. I showed the report to him, and asked "where are the hot dogs?" He looked somewhat perturbed and said, "There are no hot dogs, this is not a hot dog business. Dun and Bradstreet is garbage, you insult me by bringing that in here." I asked him if he was Mr. Tommasino, he replied that he was.
We moved briefly into a small conference area, and another employee of his joined us. I mentioned the loan payment that To The Stars will make to Our Two Dogs from the money raised by selling shares, and it quickly became apparent that Tommasino was unhappy with this line of inquiry. "Dun and Bradstreet is garbage, everyone knows they are garbage." The other employee agrees, they are garbage. (Dun and Bradstreet is, of course, the largest and most respected source of business information in the United States and in many foreign countries, founded in 1841.) "You insult me by bringing that in here." "Our Two Dogs is a management company, a highly respected management company, that I have operated for many years," he said.
Sensing that there was no point in further discussions, I began to walk out. "Do you have any other questions?", Tommasino asked, obviously quite perturbed. I pointed to the Dun and Bradstreet report (prompting another complaint that I am "insulting" him), and asked, "Is the $400,000 number correct?". "No." "Is the 'twelve employees' correct?". "No." "If you have any other questions, you can ask my attorney" (name mentioned, but no contact information given)."And my attorney will sue you if you write that this is a hot dog business." He need not worry - I am happy to report that Our Two Dogs is not a Hot Dog company.
I did not mention it at the time, but some other business information sites, such as Buzzfile and Manta, also say that Our Two Dogs is in the hot dog business. Reportedly, Our Two Dogs is listed as a "limited-service restaurant" in the NAICS (government census) database. Bizapedia and Corporationwiki have the registration information for Our Two Dogs, but do not state what the business of the company is. They place the corporation's founding in 2000, not 2008. It occurred to me that DeLonge may have described his business as a "hot dog stand" just as a joke. If so, he should realize it is a bad idea to make jokes in financial filings.
In conclusion, two things are evident from this little investigation:
1. "Our Two Dogs" is not a Hot Dog company, and
2. Mr. Tommasino (and by implication, Mr. DeLonge) are quite unhappy with someone looking into this matter.
Mirageman posted this photo to Above Top Secret of TTSA's Luis Elizondo eating a hot dog at what might be DeLonge's hot dog stand. But we believe it to be a hoax.
Source: http://badufos.blogspot.com/feeds/71562 ... ts/default
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