EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges

The following table sets forth our ratio of deficiency of earnings to fixed charges and ratio of combined fixed charges to deficiency of earnings for the years ended December 31, 2001, 2002, 2003, 2004 and 2005 and the six months ended June 30, 2006. As the ratios of deficiency of earnings to fixed charges and deficiency of earnings to combined fixed charges indicate less than one-to-one coverage, we have provided the coverage deficiency amounts.

Statement of Ratio of Earnings to Fixed Charges

(in thousands, except ratios)

 

     Fiscal Year Ended December 31,    

6 months Ended

June 30,

2006

  
     2001     2002     2003     2004     2005    

Income (loss) before income taxes

    $ (17,005 )   $ (21,459 )   $ (24,037 )   $ (27,257 )   $ (43,558 )   $ (28,206 )

Fixed charges

      130       561       682       781       819       1,041  
                                                

Total earnings (loss) for computation of ratio

    $ (16,875 )   $ (20,898 )   $ (23,355 )   $ (26,476 )   $ (42,739 )   $ (27,165 )
                                                

Fixed Charges:

             

Interest expense

    $ —       $ 371     $ 462     $ 495     $ 505     $ 883  

Amortization of prepayment penalty on debt

      —         —         —         —         —         —    

Interest attributable to rentals1

     130       190       220       286       314       158  
                                                

Total fixed charges

    $ 130     $ 561     $ 682     $ 781     $ 819     $ 1,041  
                                                

Ratio of earnings to fixed charges2

     —         —         —         —         —         —    

1

Estimate of interest attributable to rentals

2

Due to Stereotaxis’ losses in the years ended December 31, 2001, 2002, 2003, 2004 and the six months ended June 30, 2006, the ratio coverage was less than 1:1. Additional earnings of $17,005, $21,459, $24,037, $27,257 $43,558 and $28,205 would have been required in each of these periods, respectively, to achieve a ratio of 1:1.