EX-12 4 ex12.htm EXHIBIT 12

ex12.htm

Exhibit 12

		For the year ended December 31,
		2014				2013				2012				2011				2010
Pretax income			(37,682,275	)			11,153,895				16,525,130				10,538,928				542,896
Fixed Charges:
Interest Expense			984,428				1,043,786				783,373				343,491				158,406
Total earnings			(36,697,847	)			12,197,681				17,308,503				10,882,419				701,302
Ratio of earnings to fixed charges			(37.28	)			11.69				22.09				31.68				4.43