TRUE STORY: Professor Ronald L. Mallett received his B.S., M.S. and Ph.D. in physics from the Pennsylvania State University. He worked for United Technologies from 1973-5, and in 1975 joined the physics faculty at the University of Connecticut in Storrs CT where he is currently Research Professor and Physics Professor Emeritus. Professor. Mallett has published numerous papers on black holes and cosmology in professional journals. His breakthrough research on time travel has been featured extensively in the media around the world, including print media such as New Scientist, the Village Voice, the Boston Globe, Rolling Stone magazine and The Wall Street Journal, and broadcast media such as NPR’s This American Life, the History Channel, the National Geographic Channel, the Science Channel, ABC’s Good Morning America and NBC’s Today Show.

He said: "It took me many years, but I finally proved through some complex mathematics that yes, circulating light could, in theory, create a space-time loop. I showed that a string of subatomic particles, or neutrons, could be arranged so that some point “up” while others point “down”, representing zeroes and ones. These zeroes and ones could then encode a binary message which could be sent into the past or the future.

Now, this doesn’t mean that a time machine will be realized soon. I’m the theoretical guy. The experimental physicists will have to take on the daunting – and very expensive – role of testing my theory. This year we celebrate the 100th anniversary of Einstein’s Theory of Relativity. So although I don’t expect time travel to be a reality in my lifetime, I do consider my part in this process a fitting tribute to Einstein and a loving tribute to my father."


The Virtual Time Machine (VTM)
Here's the theory or business model suggestion:

Other clients can view via off screen TV or PC monitors at a cheaper rate but can not choose time in history. They can hear Client talking to director too. Original Clients can reserve scenes from their own past with look-alike actor characters and actual events re-enacted. Needs a lot of pre-event client background interviews and requirements analysis. All sorts of scenarios are possible like meet and chat with Ben Franklin 1 on 1? Actually interfere with an epic battle scene and virtually change history (well at least in the virtual world that is).

This is more of a theme-park BUSINESS MODEL innovation versus a literal invention.