EX-12.1 4 fs32017ex12-1_kanditech.htm RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
   Six Months                     
   Ended June 30,   Years Ended December 31, 
  2017   2016   2015   2014   2013   2012 
RATIO OF EARNINGS TO FIXED CHARGES                        
Fixed Charges:                        
Interest expensed and capitalized   2,207,275    1,831,667    2,214,635    3,480,646    4,395,353    2,775,848 
Amortized premiums, discounts and capitalized expenses related to indebtedness   -    -    -    -    -    43 
Total fixed charges   2,207,275    1,831,667    2,214,635    3,480,646    4,395,353    2,775,891 
                               
Earnings:                              
Add:                              
Pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investees   (26,719,421)   1,478,299    8,950,868    10,249,792    (17,063,319)   7,642,643 
Fixed charges   2,207,275    1,831,667    2,214,635    3,480,646    4,395,353    2,775,891 
Less:                              
Interest capitalized   1,044,012    -    -    -    -    - 
Total earnings (losses)   (25,556,158)   3,309,966    11,165,503    13,730,438    (12,667,966)   10,418,534 
                               
Ratio                              
Earnings to fixed charges   -    1.8    5.0    3.9    -    3.8 

 

NOTE: For the six months ended June 30, 2017 and the year ended December 31, 2013, we incurred losses from operations, and as a result, our earnings were insufficient to cover our fixed charges by $2.2 million and $4.4 million, respectively.