EX-12.1 5 ex12-1.htm

 

Exhibit 12.1

 

Ritter Pharmaceuticals, Inc.

 

Statement Regarding the Computation of Ratio of Earnings to Fixed Charges

 

The following table sets forth our ratio of earnings to fixed charges for the years ended December 31, 2012, 2013, 2014, and 2015, and the six months ended June 30, 2016. As the ratios of earnings to fixed charges and ration of fixed charges and accretion of discount on preferred stock indicate less than one-to-one coverage for each of the periods presented, we have provided the coverage deficiency amounts for these periods. Earnings consist of (i) loss from continuing operations before income taxes, and (ii) fixed charges. Fixed charges consist of interest expense, amortization of debt issue costs and an estimate of the interest portion of rent expense.

 

   Year Ended December 31,   Six Months
Ended
June 30,
 
   2012   2013   2014   2015   2016 
Earnings:                         
Net Loss  $(3,425,840)  $(2,095831)  $(2,473,465)  $(8,787,771)  $(7,267,922)
Add: Fixed charges   27,593    10,346    216,746    3,855    2,676 
Earnings as defined  $(3,398,247)  $(2,085,485)  $(2,256,719)  $(8,783,916)  $(7,265,246)
Fixed Charges and Preferred Stock Accretion:                         
Interest expense  $24,478   $6,076   $213,516   $   $ 
Estimated interest within rental expense¹   3,115    4,270    3,230    3,855    2,676 
Fixed charges as defined   27,593    10,346    216,746    3,855    2,676 
                          
Accretion of discount on preferred stock           8,580    63,283     
                          
Combined fixed charges and accretion of discount on preferred stock  $27,593   $10,346   $225,326   $67,138   $2,676 
                          
Ratio of earnings to fixed charges²                    
                          
Deficiency of earnings to cover fixed charges  $(3,425,840)  $(2,095,831)  $(2,473,465)  $(8,787,771)  $(7,267,922)
                          
Ratio of fixed charges and accretion of discount on preferred stock²                    
                          
Deficiency of earnings to cover fixed charges and accretion of discount on preferred stock  $(3,425,840)  $(2,095,831)  $(2,482,045)  $(8,851,054)  $(7,267,922)

 

(1) Represents the estimated portion of operating lease rental expense that is considered by us to be representative of interest.

 

(2) We did not record earnings for the periods indicated in the table above. Accordingly, our earnings were insufficient to cover fixed charges or fixed charges and accretion of discount on preferred stock for such periods and we are unable to disclose a ratio of earnings to fixed charges or ration of fixed charged and accretion of discount on preferred stock for such periods.