EX-12.1 2 a2150635zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


Calculation of Ratio of Earnings to Fixed Charges

 
  Nine Months
Ended
September 30,
2004

  Years Ended December 31,
 
 
  2003
  2002
  2001
  2000
  1999
 
FIXED CHARGES                                      
Interest expensed   $   $   $ 82,015   $     $ 119,326   $ 84,215  
Interest capitalized   $   $   $   $     $   $  
Amortized premiums, discounts and capitalized expenses related to indebtedness   $   $   $   $   $   $  
Estimate of the interest within rental expense     129,367   $ 131,142   $ 46,901   $ 33,993   $ 35,014   $ 32,945  
Preference security dividend requiremetns of consolidated subsidiaries   $   $   $   $     $   $  
   
 
 
 
 
 
 
TOTAL FIXED CHARGES   $ 129,367   $ 131,142   $ 46,901   $ 116,008   $ 154,340   $ 117,160  
EARNINGS                                      
Pre-tax income from continuing operations   $ (15,161,477 ) $ (11,268,294 ) $ (5,433,055 ) $ (1,652,004 ) $ (807,076 ) $ (1,306,778 )
Plus: Fixed charges   $ 129,367   $ 131,142   $ 46,901   $ 116,008   $ 154,340   $ 117,160  
Plus: Amortization of capitalized interest   $   $   $   $   $   $  
Plus: Distributed income of equity investees   $   $   $   $   $   $  
Plus: Share of pre-tax losses of equity investees arising from guarantees included in fixed charges   $   $   $   $   $   $  
   
 
 
 
 
 
 
Subtotal   $ (15,032,110 ) $ (11,137,152 ) $ (5,386,154 ) $ (1,535,996 ) $ (652,736 ) $ (1,189,618 )
Less: Interest capitalized   $   $   $   $   $   $  
Less: Preference security dividend requirement of consolidated subsidiaries   $   $   $   $   $   $  
Less: Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges   $   $   $   $   $   $  
   
 
 
 
 
 
 
Subtotal   $   $   $   $   $   $  
Net Earnings   $ (15,032,110 ) $ (11,137,152 ) $ (5,386,154 ) $ (1,535,996 ) $ (652,736 ) $ (1,189,618 )
Ratio of Earnings to Fixed Charges     n/a     n/a     n/a     n/a     n/a     n/a  
Deficiency of Earnings to Fixed Charges   $ 15,161,477   $ 11,268,294   $ 5,433,055   $ 1,652,004   $ 807,076   $ 1,306,778  



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Calculation of Ratio of Earnings to Fixed Charges