Fast cars, slower annual report. That's the synopsis of a Tesla Motors disclosure that the maker of the Model S luxury EV missed its March 1 deadline to file its annual report.
The California-based company, in a Securities and Exchange Commission filing, cited what it called a "probable error in the presentation of certain non-cash items relating to capital expenditures on its consolidated statements of cash flows." The company elaborated, in more approachable English, that some "unpaid capital expenditures" during the past couple of years would be moved into operating activities instead of investing activities.
As a result, Tesla's annual report will be delayed until as late as March 11, though the changes won't impact previously reported income statements or balance sheets.
Tesla last month said its fourth-quarter loss narrowed to $90 million from $110 million in the third quarter, and that revenue surged sixfold to $306 million.