A tweet from Tesla primary executive Elon Musk could land the entrepreneur in warm water once again with the Securities and Exchange Commission, at least according to some pundits.
On Monday evening, Musk was asked what progress the company is making with its solar-powered roof tiles, which presented to the planet in October 2016 earlier SolarCity was bought and absorbed by Tesla.
Musk responded by tweeting “Spooling up generation line immediately. Hoping to manufacture ~1000 solar. ”
That tweet may seem innocent enough but Musk reached an agreement with the SEC earlier this season which prevents him from talking Tesla-related production amounts on social websites which harbor ’t been formerly published by the company or been pre-approved with an experienced securities lawyer.
Spooling production line up immediately. Hoping to manufacture ~1000 solar roofs/week at the end of the season.
— e^ (@elonmusk) July 30, 2019
Fortune ran a review of Tesla’s 10-Q monetary filings for the second and first quarters of 2019 along with the 10-K for 2018 and saw no mention of production amounts such as Tesla’s solar roof panels. The auto manufacturer’s fiscal filings list the solar energy business for a branch of Tesla, which suggests Musk’s dialogue might be considered associated with Tesla production.
“If that’s broken out as one of the company lines and that he ’s handing out numbers to the company line, which ’s Tesla,” partner at law firm Dorsey Whitney, Thomas Gorman clarified. “If he was speaking about something separate, such as the Solar City company [which Tesla obtained in 2016] we all ’re doing pretty good with the Solar City acquisition — which ’s different. This is not a great argument and should they return to courtthe estimate won’t be happy. I wouldn’t like to defend that argument. ”
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