Exhibit 12.1

RHYTHMONE PLC

COMPUTATION OF HISTORICAL AND PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES

in $ thousands (unaudited)	Pro Forma For the Six Months Ended September 30, 2017			Pro Forma For the Year Ended March 31, 2017			For the Six Months Ended September 30,						For the Years Ended March 31,
							2017			2016			2017			2016
Earnings before fixed charges:
Loss before income tax		(7,556	)		(57,773	)		(8,286	)		(10,296	)		(14,890	)		(77,181	)
Add: Fixed charges (below)		2,354			5,885			640			661			1,263			1,352
Total earnings before fixed charges		(5,202	)		(51,888	)		(7,646	)		(9,635	)		(13,627	)		(75,829	)
Fixed charges:
Finance costs (1)		872			2,439			141			84			266			198
Estimated interest portion of operating lease expense (2)		1,482			3,446			499			577			997			1,154
Total fixed charges		2,354			5,885			640			661			1,263			1,352
Ratio of loss to fixed charges (3) (4)		(2.2	)		(8.8	)		(12.0	)		(14.6	)		(10.8	)		(56.1	)

(1) Finance expense includes interest expense on finance lease obligations.

(2) One-third of operating lease expense is the portion deemed representative of the interest factor.

(3) Based on rounded thousands.

(4) The ratio coverage in the years ended March 31, 2017 and 2016 and the six months ended September 30, 2017 and 2016 was less than 1:1. We would have needed to generate additional earnings of $14.9 million. $77.2 million, $8.3 million and $10.3 million in the years ended March 31, 2017 and 2016 and in the six months ended September 2017 and 2016, respectively, to achieve a coverage of 1:1.