Ummm, the truth hurts? Why do you think Morgan SCAMley has to come out with more hype to support the house of cards they created. Just imagine all the class action lawsuits in the future like the ones hitting SCTY in the past few days... TSLA is next.
SCTY is restating over-inflated earnings and now TSLA is next:
From the above link:
Revenues, page 78
2. Please quantify the amount of vehicle service revenue included in vehicle, options and
related sales and discuss any significant changes in the amount from the prior period as
well as the factor(s) causing such changes. In addition, if management expects the
introduction of the prepaid maintenance programs to have a material impact on the timing
of recognizing service revenue, please discuss this change in trend and its expected
impact on service sales.
Notes to Consolidated Financial Statements, page 98
3. We note per page 12 of your Business section that you announced a prepaid maintenance
program to include plans covering maintenance costs at either a fixed price per visit or
unlimited visits. Please disclose your policy for accounting for both types of plans.
Form 10-Q for Quarterly Period Ended September 30, 2013
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of
Results of Operations, page 27
4. Please revise to disclose the number of units sold and the number delivered under resale
value guarantee terms and accounted for as operating leases.
Liquidity and Capital Resources, page 32
5. We note that at the end of May 2013 you announced the significant expansion of your
Supercharger network to include coverage on the U.S. west and east costs and around the
rest of the country. Please discuss your expansion plan in more detail including the
expected associated costs to achieve your goal.