The SEC does not disclose its ongoing investigations, but from news reports I believe the Commission has issued a formal order of investigation related to Tesla’s non-disclosure of the Florida autopilot fatality in May.

• Tesla, despite its initial claims of ignorance, appears to be under investigation by the SEC.
• I believe the Commission has likely issued a Formal Order of Investigation related to Tesla’s non-disclosure of the Florida autopilot fatality in May.
• I believe it is highly probable that there are other issues the SEC is looking at besides the lack of timely disclosure of the Florida autopilot crash.
• The Company’s ongoing use of non-GAAP revenue is likely one of these issues.

What is the state of play with non-GAAP revenue in the wake of the May 17 Interpretation? Utilizing the MyLogIQ comprehensive database, I identified Forms 8-K filed with the SEC between July 1 and August 8, 2016. This date range was chosen as it provides for companies reporting with quarters ended June 30, 2016.