Well the Philadelphia Experiment is a real-life incident or at least a real-life hoax which has been around since the '40s.
The purpose, according to various myth & legend, was to make a naval ship invisible to radar/sonar or at least to degauss it making it undetectable to magnetic mines in the water. This way it wouldn't be as easy a target. Other accounts say the purpose was to make it invisible to the naked eye but that doesn't seem likely. The legend around the experiment is that the Eldridge vanished from the harbor it was in; it wasn't invisible according to this account, it actually teleported across the country to another harbor and then came back a few minutes later. Of course this account cannot be substantiated and the government says there was never an experiment of any kind.
The 1984 movie took it a step further suggesting that the Eldridge not only teleported through space but also travelled through time into the future. Now we have the 2012 remake which is based on this fiction.
Instead of "based on real events" the trailer should have said "loosely based on the movie which was loosely based on the urban legend."
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