douglas kennedy has all the details for us. hi, douglas. >> hi, alisyn. the u.s.been to the moon since 1976. and no one has ever been to the moon using private money. but they want to go where no one has gone before. >> it's one small step for man -- >> at least no one who didn't get government funding. >> neil armstrong took a giant leap for mankind. how would you characterize the step you're taking? >> well, i think this is even a bigger leap. this is students taking this leap. it's outrageous, and we're going to the moon. >> gretchen is a student at penn state university and is working on the lunar lion, possibly the first privately funded trip to the moon. in fact, she's currently in a space race with over a dozen other private groups, in a competition sponsored by google. >> so in order to win, you have to travel to the moon -- >> yes. >> -- travel at least 500 meters on the moon. >> right. >> send video back to the earth. all by 2016. >> all by 2016. and all on private funding. >> so we've got one rocket firing done. >> reporter: michael paul is a space syst