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The Securities and Exchange Commission queried Tesla's last annual report and its latest second-quarter report in a letter to Tesla's finance chief, Zachary Kirkhorn, on September 17, according to filings it shared this week.
The agency requested further explanation for changes in Tesla's accounts, sales by acquired companies to third parties, and its exclusion of some costs from its warranty reserve. The agency also asked for more details of Tesla's accounting of leased automobiles this year, following the release of new guidelines on their treatment.
Kirkhorn responded that the changes to Tesla's accounts — including a big jump in its production costs — were largely driven by scaled-up manufacturing of the Model 3. He added that some of the companies it acquired were still contracted to sell goods to third parties. He broadly defended Tesla's accounting of warranty reserves and lease accounting as kosher.
The SEC, seemingly satisfied with his reply, closed its review on October 28.
Really busts the whole accounting fraud nonsense.The agency also wrote to Tesla's legal team on September 17, seeking unredacted copies of some financial information to assess whether the company was within its rights to withhold it from SEC filings for competitive reasons. In a follow-up letter on September 25, it agreed certain information from Tesla's filings in 2017 and 2018 could be redacted until September 2020.
SEC is clearly asleep at the wheel. They’re in on the fraud now. Something about pizza.
Really busts the whole accounting fraud nonsense.
Yeah, but they should favor selling more Teslas to whichever demographic puts the most MILES on their cars. Some of us on the forum mention not putting on many miles. Salesmen, for example, put on more miles than most so will make the biggest pollution difference. Remember the mission statement.I hope Tesla will not do that. In stead they should keep cutting production cost of current models, maintain the retail prices (or raise price), so they can have good margin to build more Gigafactories.
With the billion dollar exposure Tesla just had, who needs a commercial that most will skip over?I want to see one damn Tesla commercial during the holidays. Just one. So tired year after year watching all the holiday car commercials selling "family". Except all those cars are polluting the planet and destroying their kids future world.....oh sorry, went off the deep end there....Happy Thanksgiving!
Trump signs bills backing Hong Kong protesters into law, in spite of Beijing's objections
Macros not looking good. So tomorrow could be dip on steroids ...
I want to see one damn Tesla commercial during the holidays. Just one. So tired year after year watching all the holiday car commercials selling "family". Except all those cars are polluting the planet and destroying their kids future world.....oh sorry, went off the deep end there....Happy Thanksgiving!
I guess we're back to discussing the CT in this thread again, so I'll share this here.
I had a dentist appt Monday. The receptionist saw my S and said, "My fiancee is buying one of those new Tesla trucks!". She went on to explain that he is in construction, bought an F150 last year with a 120V outlet, but he was surprised to learn it powers very little at the job site. So he wants a CT for the utility of it. Also said he thought it was ugly, but couldn't care less.
So I rode home shocked that someone randomly brought up and knew about the CT (and had an order) in SOUTH GEORGIA, without me asking or prodding. But, it gets even better. When I arrived home, my college age son had some of his old high school buddies over and they were playing basketball. As the kids all spoke to me, shook hands, etc, one of them, who just gotten accepted to medical school asked me if I had seen the CyberTruck - and his face lit up as he said, "That will be the very first vehicle I ever buy. I want one so bad. It looks so freaking cool."
Understand that I have "brain-washed" these kids about all things Tesla for many years now, so it isn't exactly random, but still, for a 21 year old med student (soon to be) to say he likes the way it looks speaks volumes about how the younger generation might feel about the CT. I'm sure the ratio of those who find its looks appealing is far higher among his age group (18-26 let's say). We just need all of them to get to the point where they can afford one.
Yeah, still, the KWH ARE THERE and available for use for the price of 5-7 Powerwalls.It really isn't the same. With 5 Powerwalls you get the gateway/ADC, 25kW, 35kW peak, worth of inverters, and the software to sync to the grid and charge/discharge as needed. The CT will likely only have a 5-10kW outlet that can only supply power, it can't be charged by it. And can't be hooked to the grid. could you jury-rig it to your house? Yes, but it wouldn't be up to code, and could cause damage. So it wouldn't be able to power near as much in a house as 5 Powerwalls. It is also possible that the 240v outlet will be more limited to maybe 2.5kW of output.
Until more detailed specs are available we really don't know...
I always go to great effort to explain the many advantages of charging at home vs the slight disadvantage of charging when traveling (but I also try to be honest).
I bet it will fit with a good running start.CT won’t fit.
Unsworth's reputation and character might matter to the finding of libel: if there's evidence that Unsworth actually provoked Elon with the express purpose to sell his story, that he attacked Elon to increase his own value in the "story" - there might be no libel.
Unsworth didn't actually cite a single piece of evidence of anyone taking the pedo tweets seriously - most people took it as an escalating verbal splat that started with Unsworth telling Elon to shove his submarine "where the sun doesn't shine". All the while Unsworth was attacking and denigrating the actual cave drivers in private chat messages with his friend and was fantasizing about how much money he'll be able to get for the story, after one of the cave divers died and while the kids were still in the cave.
Unsworth's reputation and character also very much matters to damages: even if they find libel, the jury will have to decide whether Unsworth's reputation suffered, and put a dollar amount to it. If Unsworth's reputation was bad to begin with, if there's evidence that he actually provoked Elon with the express purpose to sell his story and win a monetary settlement, then the jury could end up finding Elon technically guilty but awarding a very low "damages" sum to Unsworth.
Also, Unsworth's partner is on record saying that Unsworth found Elon's tweets "funny", in which case they'll find it harder to convince the jury that they were in "emotional distress".
Unsworth also claims emotional distress to family members in his lawsuit: in which case the evidence that he abandoned his wife and his daughter in the UK to live with his partner in Thailand, and that his daughter is refusing to talk to Unsworth for this reason, is very much relevant to determine the extent of how Unsworth's family "suffered".
A couple of pieces of character evidence were excluded from the trial by the judge in a pre-trial ruling yesterday: such as that when Unsworth was a financial advisor in the UK there were fraud allegations and a fraud finding against him by a UK regulator, or the evidence regarding whether Unsworth viewed child porn, or his partner's alleged online messages regarding "night work" will be excluded from the trial as well. On the other hand Elon's SEC settlement and other lawsuits will be excluded too.
So all these character questions of Unsworth are front and center in the trial - and that's true on Elon's side as well: his Buzzfeed email is going to be shown to the jurors, which won't be flattering.
I agree that there's no substitute for actually having Powerwalls and effectively your own micro-grid "island" that can seamlessly charge from solar and power all major appliances.It really isn't the same. With 5 Powerwalls you get the gateway/ADC, 25kW, 35kW peak, worth of inverters, and the software to sync to the grid and charge/discharge as needed. The CT will likely only have a 5-10kW outlet that can only supply power, it can't be charged by it. And can't be hooked to the grid. could you jury-rig it to your house? Yes, but it wouldn't be up to code, and could cause damage. So it wouldn't be able to power near as much in a house as 5 Powerwalls. It is also possible that the 240v outlet will be more limited to maybe 2.5kW of output.
Until more detailed specs are available we really don't know...
I've always found that being honest about the disadvantages resonates with people because it shows that I'm giving them the full story and not just blowing sunshine up their rear. It seems like it adds even more credibility to the positives.