EX-12.1 7 flks20160318ex-121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIOS


 
 
Period from
February 26, 2014 (Inception) to December 31, 2014
 
Year ended
December 31, 2015
Earnings:
 
 
 
 
Pretax loss
 
$
(8,010,860
)
 
$
(29,141,630
)
Add fixed charges
 
45,600

 
75,900

Total earnings
 
(7,965,260
)
 
(29,065,730
)
Fixed charges:
 
 
 
 
Interest expense, including amortization of debt issuance costs
 
—

 
—

Estimated interest component of rent expense (a)
 
45,600

 
75,900

Total fixed charges
 
45,600

 
75,900

Preference security dividends
 
—

 
—

Ratio of earnings to combined fixed charges and preference dividends
 
(b)

 
(b)

Deficiency of earnings available to cover combination of fixed charges and preference dividends
 
$
(8,010,860
)
 
$
(29,141,630
)

(a) Fixed Charges consist of 30% of rental expense associated with our facility leases, which is considered to be a reasonable estimate of the interest factor.
(b) Earnings for the fiscal year ended December 31, were inadequate to cover combined fixed charges for the period presented.