EX-12.1 5 a2236562zex-12_1.htm EX-12.1

Exhibit 12.1

 

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

 

 

Fiscal Year Ended
December 31,

 

Six
Months
Ended
June 30,

 

 

 

2013

 

2014

 

2015

 

2016

 

2017

 

2018

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense on indebtedness

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

Non-cash interest expense and other

 

—

 

—

 

—

 

—

 

—

 

—

 

Interest expense on portion of rent expense representative of interest

 

113

 

125

 

106

 

107

 

108

 

77

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

113

 

$

125

 

$

106

 

$

107

 

$

108

 

$

77

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) before income taxes

 

$

(18,032

)

$

5,459

 

$

(41,270

)

$

(43,888

)

$

(55,064

)

$

(20,167

)

Fixed charges per above

 

113

 

125

 

106

 

107

 

108

 

77

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings (loss)

 

$

(17,919

)

$

5,584

 

$

(41,164

)

$

(43,781

)

$

(54,956

)

$

(20,090

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

—

 

44.7

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency of earnings available to cover fixed charges

 

$

(18,032

)

$

—

 

$

(41,270

)

$

(43,888

)

$

(55,064

)

$

(20,167

)