Where do we start...
First they blame the money on the Obama administration, it was awarded under a program initiated by Bush.
While the Roadster is low production and their income is certainly not matching their expenses, this was by design as part of a long range program intended to make Tesla a mainstream manufacturer in coming years.
They didn't mention the nearly 3000 site-unseen $5000 deposits on the upcoming Model S.
They didn't mention the numberous significant partnerships such as the recent one w/Toyota, the prior w/Daimler, the recent with Panasonic for batteries.
Is this still a high risk tech stock company...yup. But to suggest that the loan was a bad idea is just not fair to Tesla. The loan program was specifically designed to promote companies just like Tesla to bring new ideas, new vehicles and greener vehicles to the market place.