EX-12.1 6 a17-14896_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Statement Regarding Computation of Ratio of Earnings to Fixed Charges and Preferred Share Dividends

(in thousands)

 

 

 

2013

 

2014

 

2015

 

2016

 

Three Months
Ended March 31,
2017

 

Computation of earnings:

 

 

 

 

 

 

 

 

 

 

 

Loss before income taxes

 

$

(637

)

$

(5,670

)

$

(12,524

)

$

(23,416

)

$

(7,259

)

Fixed charges

 

18

 

21

 

23

 

34

 

14

 

Deficiency of earnings available to cover fixed charges

 

$

(655

)

$

(5,691

)

$

(12,547

)

$

(23,450

)

$

(7,273

)

 

 

 

 

 

 

 

 

 

 

 

 

Computation of fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

2

 

$

2

 

$

—

 

$

—

 

$

—

 

Estimated interest expense portion of rental expense (1)

 

16

 

19

 

23

 

34

 

14

 

Total fixed charges

 

$

18

 

$

21

 

$

23

 

$

34

 

$

14

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges (2)

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

Computation of earnings:

 

 

 

 

 

 

 

 

 

 

 

Loss before income taxes

 

$

(637

)

$

(5,670

)

$

(12,524

)

$

(23,416

)

$

(7,259

)

Combined fixed charges and preferred stock dividends

 

107

 

69

 

23

 

34

 

14

 

Deficiency of earnings available to cover fixed charges

 

$

(744

)

$

(5,739

)

$

(12,547

)

$

(23,450

)

$

(7,273

)

 

 

 

 

 

 

 

 

 

 

 

 

Combined fixed charges and preferred stock dividend:

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

$

18

 

$

21

 

$

23

 

$

34

 

$

14

 

Preferred stock dividends

 

89

 

48

 

—

 

—

 

—

 

Total combined fixed charges and preferred stock dividend

 

$

107

 

$

69

 

$

23

 

$

34

 

$

14

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividend (2)

 

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

 

(1)           One third of rental expenses is estimated to be the interest component of rental expense.

(2)           Earnings were insufficient to cover total fixed charges and total combined fixed charges and preferred stock dividends.