EX-12.1 6 a17-19934_1ex12d1.htm EX-12.1

Exhibit 12.1

 

STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS FOR THE YEARS ENDED DECEMBER 31, 2014, 2015 AND 2016 AND THE SIX MONTHS ENDED JUNE 30, 2017

 

(dollars in thousands)

 

 

 

Year Ended December 31,

 

Six Months

Ended June 30,

 

 

 

2014

 

2015

 

2016

 

2017

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

Interest expense on indebtedness

 

$

552

 

$

1,031

 

$

1,242

 

$

579

 

Non-cash interest expense and other

 

—

 

(83

)

12

 

—

 

Interest expense on portion of rent expense representative of interest

 

464

 

443

 

517

 

307

 

Total fixed charges

 

$

1,016

 

$

1,391

 

$

1,771

 

$

886

 

Preferred stock dividends

 

$

4,951

 

$

7,335

 

$

4,566

 

$

—

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss):

 

 

 

 

 

 

 

 

 

Net loss

 

$

(12,880

)

$

(25,174

)

$

(36,210

)

$

(31,101

)

Fixed charges per above

 

1,016

 

1,391

 

1,771

 

886

 

Adjusted earnings (loss)

 

$

(11,864

)

$

(23,783

)

$

(34,439

)

$

(30,215

)

 

 

 

 

 

 

 

 

 

 

Deficiency of earnings available to cover fixed charges

 

$

(12,880

)

$

(25,174

)

$

(36,210

)

$

(31,101

)

Ratio of earnings (loss) to fixed charges

 

N/A

 

N/A

 

N/A

 

N/A

 

Deficiency of earnings available to cover fixed charges and preferred stock dividends

 

$

(17,831

)

$

(32,509

)

$

(40,776

)

$

(31,101

)

Ratio of earnings (loss) to fixed charges and preferred stock dividends

 

N/A

 

N/A

 

N/A

 

N/A