I don't believe that they have floated any bonds yet. The Federal funding and tax incentives have most likely enabled them to not do so. If they do float a lot of debt, it will hit the stock price, which would make me cranky. But I expect that they will at some point. It is a great time to get cheap debt. Just not too much!
Keep in mind that they need to reserve for the no-risk cancellation policy of the M3 reservations. That's why the stock has not skyrocketed with the huge number of reservations. It's popped. But nearly as much as it would with 300K of firm orders. There will be a lot of people who cancel and get their 1K back for a variety of reasons. So it isn't real money to them yet. I wish it were.