Tesla's IPO Prospectus Has Lots of Surprises for Investors
"So what if Tesla Motors, the luxury electric-car maker, lost $31 million in the first nine months of last year and $236 million since its inception.
So what if it's canceling its $100,000 Roadster -- its single current product -- in 2011 and a replacement won't be available until at least 2013. So what if Tesla won't even begin producing its $50,000 Model S 'family' sedan until 2012, leaving an unknown period of time when this new company won't be selling any cars at all.
And so what if Tesla admits that CEO Elon Musk (pictured, with Model S) 'does not devote his full time and attention' to the company.
Tesla's IPO filing -- the company hopes to raise an additional $100 million -- sure contains some eyebrow-raising disclosures."
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