That is incredibly cheap. You would think that some billionaire would finance this project just on a lark.
However, Prof Mallett is fussy about who gives him the money. "We want non-military sources. I don't want to get to a certain point and get 'top secret' slapped over the project and have it taken away from us."
I dont think using private money is going to prevent the DOD from taking this project away from him if they think he will be successful. On the other hand it may be the DOD that has prevented him from getting a private backer so far.
A Liar.