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$TSLAQ
2/2/16 - SolarCity Board meeting management presents analysis of liquidity concerns and covenant breaches
2/9/16 - Rive pumps stockholders with growth projections
2/11/16 - Rive convenes "cash planning" meeting at his home. Decides to delay payments to vendors
2/2/16 - SolarCity Board meeting management presents analysis of liquidity concerns and covenant breaches
2/9/16 - Rive pumps stockholders with growth projections
2/11/16 - Rive convenes "cash planning" meeting at his home. Decides to delay payments to vendors
3/2016 - SolarCity develops a "stacked ranking" to help decide which payments to postpone
4/26/16 - Rive provides Board with 2016 Guidance Revision 28% lower than public guidance given in February. Warns that minimum cash covenants could be breached by May.
4/26/16 - Rive provides Board with 2016 Guidance Revision 28% lower than public guidance given in February. Warns that minimum cash covenants could be breached by May.
5/9/2016 - Instead of providing updated lower guidance to the market, Rive pumps the market by saying "SolarCity kicked off 2016 with solid momentum in installations, financing, and core cash generation"
5/2016 - Rive tells Musk that the acquisition had to happen or SolarCity would need to raise equity financing.
(SolarCity’s banks had already told Musk and Rive that an equity
offering would not be feasible)
6/2016 - $TSLA sweeps the mess under their rug
(SolarCity’s banks had already told Musk and Rive that an equity
offering would not be feasible)
6/2016 - $TSLA sweeps the mess under their rug
