Galactic Suite Orbital Hotel Taking Reservations for 2012

Besides the horrible graphic design/flash and the fact that this is rife with errors... is there any proof that this is anything but a scam?

edit: according to the wikipedia article on this company, they were supposed to have began construction of the station in 2008. Here's another couple of sources instead of the atrocious official site:

http://www.reuters.com/article/oddlyEnoughNews/idUSTRE5A151N... http://news.xinhuanet.com/english/2009-11/05/content_1239037...

(according to xinhua, it's "expected to be constructed of connecting pods," which would indicate that it has not yet begun construction. I still think this is a scam- somehow I doubt they'll be able to get a station up there and ready to go in three years)

Anyone know of a good book where I can wager against this?

Here is a video: http://www.youtube.com/watch?v=ZJXpOsiphhM

Bigelow Aerospace is a competitor: http://www.bigelowaerospace.com/

It sounds so simple, just a three step process:

Spaceport, Spaceship, Space Hotel.

At least they make it sound simple on the site. Personally I don't know how they plan to get it completed before 2012. It looks to me like a great dream but not particularly feasible, though I must say that the maglev launch system looks fascinating.

I think the space lottery idea is a great way for poor people to go into space.

It's not "galactic" if it's only orbiting one planet.

Is this a joke? If not, it's simply awesome.