EX-12.1 4 ex12-1.htm EXHIBIT 12.1 ex12-1.htm

EXHIBIT 12.1

 

 

   

Year ended December 31,

  
   

2014

    

2013

    

2012

    

2011

    

2010

  

Determination of loss:

                                        

Loss from operations

   $ (24,715 )    $ (15,411 )   $ (22,143 )   $ (23,019 )   $ (19,637 )
                                         

Add: Fixed Charges

     1,406       1,004       467       521       32  

Less: Capitalized interest

     -       (352 )     (217 )  

–

    

–

  

Loss, as adjusted

   $ (26,121 )   $ (14,759 )   $ (21,893 )   $ (22,498 )   $ (19,605 )
                                         

Fixed Charges:

                                        

Interest expense

   $ 1,326     $ 915     $ 359     $ 502     $ 32  

Estimate of interest within rental expense

     80       89       108       19    

–

  

Fixed Charges

     1,406       1,004       467       521       32  
                                         

Ratio of loss to fixed charges

     *       *       *       *       *  
                                         

Deficiency of earnings available to cover fixed charges (1)

   $ 24,715     $ 15,763     $ 22,360     $ 23,019     $ 19,637  

 

(1) For the years ended December 31, 2010 through December 31, 2014, the Company’s coverage ratio is less than one-to-one and it must generate additional funding of these specified amounts to achieve a coverage ratio of one-to-one.