Briefly on Tesla's numbers. Taking $139 million of net income attributable to stockholders at face value – i.e. assuming the accounting is 100% clean – nearly $100 million of that is from Tesla's sale of greenhouse gas and zero emission vehicle credits. If we assume just $39 million worth of GAAP manipulation used to generate "income" (the real number is multiples of $39 milion) small amount of accounting games were used to generate GAAP "income," reversing out the GHG/ZEV credits takes Tesla's actual net income to zero. This means that the ability of Tesla's business model to generate actual cash income is based solely energy credit sales. This is not a valid sustainable business model. In the short term, the next big event is the maturity of the $920 million convertible bond due in March. It looks like Tesla's stock price will be below the price at which bondholders will want to convert.