EX-12.1 4 exh_121.htm EXHIBIT 12.1

Exhibit 12.1

 

ADOMANI, Inc.

 

Statement Regarding Computation of Ratio of Earnings to Fixed Charges

 

   Years Ended December 31,  Six Months Ended June 30,
   2017  2016  2015  2014  2013  2018
   (in thousands)
Earnings:                  
Income (loss) before income taxes  $(21,903)  $(10,685)  $(6,035)  $(2,187)  $(1,890)  $(8,261)
Add: Fixed charges   346    1,174    722    80    32    37 
Add: Amortization of capitalized interest                        
Subtract: Capitalized interest                        
Total earnings (losses)  $(21,557)  $(9,511)  $(5,313)  $(2,107)  $(1,858)  $(8,224)
                               
Computation of fixed charges:                              
Interest expense   302    1,148    702    65    1    14 
Capitalized interest                        
Estimated interest component of rent expense1   44    26    20    15    31    23 
Total fixed charges  $346   $1,174   $722   $80   $32   $37 
Ratio of earnings to fixed charges2                        

 

1 One-third of rent expense was included in the calculation as it is a reasonable approximation of the interest component.
   
2 Our earnings were inadequate to cover fixed charges for the years ended December 31 2017, 2016, 2015, 2014, 2013, and for the six months ended June 30, 2018 by $21.9 million, $10.7 million, $6 million, $2.2 million, $1.9 million, and $8.3 million, respectively.