EX-12.1 7 exhibit12-1.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES⁽¹⁾

Our earnings are inadequate to cover fixed charges. The following table sets forth the dollar amount of the coverage deficiency (in thousands).

																Six
																Months
																Ended
	Year Ended December 31,															June 30,
(In Thousands)	2010			2011			2012			2013			2014			2015
Earnings:
Income (loss) before income taxes	$	(111,378	)	$	(96,853	)	$	(68,881	)	$	(38,379	)	$	(35,670	)	$	(18,671	)
Add: Fixed charges		332			452			369			356			234			116
Less: Capitalized interest		—			—			—			—			—			—
Coverage Deficiency	$	(111,046	)	$	(96,401	)	$	(68,512	)	$	(38,023	)	$	(35,436	)	$	(18,555	)
Fixed Charges:
Interest expensed	$	—		$	124		$	—		$	—		$	—		$	—
Estimated interest portion of rent
expense		332			328			369			356			234			116
Fixed charges	$	332		$	452		$	369		$	356		$	234		$	116
Ratio of earnings to fixed charges ⁽¹⁾		N/A			N/A			N/A			N/A			N/A			N/A

____________________

(1)

The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges. For this purpose, earnings consist of net loss before fixed charges. Fixed charges consist of estimated interest expense on outstanding lease liabilities and amortization of debt discount and accrual of interest on outstanding debt.