Ann: Clean Seas Continues Sales Growth and Launches SensoryFresh, page-27

Can’t really discuss gross amounts, but if TSLA goes to zero, I look to make 3-4 times my money on long dated puts...almost all 2020.  Well if that happens, in part or in whole, lots of that will get put back into CSS.  If you guys are nice enough to let me back in, that is.   Hope CSS doesn’t go to .12 in the meantime but I guess that is the risk I run.
TSLA really is fascinating.  A loss-making company in a utterly ruthless industry with poor economics, and it has a market capitalization of $51B USD.   The thing that first got me interested in TSLA was that I myself used to work in a car plant years ago.  It really is complicated stuff- mass manufacturing a car at a profit is absolutely harder than putting a man on the moon.   When Musk said he was gonna do that, well I got interested.  And when he said he would do it by ignoring long-standing practices and make it at a better margin than Toyota, well I figured blood would be on the wall.  So now things are going off the rails with slow production and increasing losses.  
TSLA can probably raise money but it will be hard.  He needs 4-8 Billion.  His last set of 5% bonds are trading at 86-87 cents which is almost 3 years of coupon.  Who the hell would want to be a junior bond holder to that?  They would ask mob interest- 12-14%.   
Stock is a better choice, but 4-8 Billion will be a very large raise.   Musk has a history of massaging the numbers, over-exaggerating his production schedule and losing tons of money.  What investment bank wants to sell that to customers they would hope to have in the future?  Especially when TSLA’s Chief Accounting Officer left the company earlier this year, leaving 4 million dollars of stock options on the table.  And then the Corporate Treasurer left a few days later.  (Oh and the Head of Engineering left yesterday for “an extended break”).  
It’s great fun.  I am sucked into it like a teenage girl and her first television drama.  Someone should tell David Head to start a Twitter account and rant about rocket ships full of Bluefin and growing Yellowtail on Mars.