1/ Don't mean to distract from Cirque de Teslai, but I wanted to go back to the glory days (two weeks ago) of gumshoe reportage and focus on one point. The whole SCTY bailout stinks and I for one am looking forward to the trial. 
2/ The public announcement of the SCTY deal on June 21st came five days after Tesla received comments from the SEC in a letter on June 16th regarding critical financial metrics. sec.gov/Archives/edgar…
3/ Two weeks after announcing the SCTY deal publicly, and three weeks before releasing the Q, in response to that June 16 SEC letter which asked SCTY to quantify coverage ratios, SCTY responded, but asked for confidential treatment so as to not disclose the actual numbers.
4/ A CTO for coverage ratios? After a deal is announced? Coverage ratios that would have exposed the disaster. How does the SEC allow this to happen?
5/ CTO requests are usually reserved for trade secrets and product related detail. You know how many CTO’s F has on file? 0. RTN, a defense contractor? 0.
6/ You don’t need me to tell you this, but it is not possible to take any statement this company makes at face value. A stinking corporate culture is ingrained everywhere. If any data points were available that would obliterate the shorts, you’d be seeing them in neon lights.
7/ Maybe I’m odd, but Tesla’s history of dodgy reporting sticks in my craw. Its foul corporate culture, something we see confirmed almost daily now, was never more evident than in the SCTY deal.
This is just demoralizing, the SEC letting this garbage pass. As was suggested elsewhere, this team will ride this into the ground with no disclosure until the bitter end. You will only know when you hear the splat. I for one am looking forward to the SCTY trial.
