EX-12.1 7 v400441_ex12-1.htm EXHIBIT 12.1

 

Exhibit 12.1

 

STATEMENT REGARDING THE COMPUTATION OF RATIOS

 

Our earnings are inadequate to cover combined fixed charges and preference dividends. The following table sets forth the dollar amount of the coverage deficiency (in thousands) for the periods indicated.

 

  

Year Ended December 31,

  

Nine Months
Ended
September 30,

 
  

2009

  

2010

  

2011

  

2012

  

2013

   2014 
Loss before income taxes  $(1,878)  $(2,984)  $(9,737)  $(8,181)  $(16,041)  $(7,678)
Add fixed charges:                              
Interest expense   -    4    959    232    588    438 
Amortization of costs related to indebtedness   -    3    -    56    56    52 
Estimated interest factor in rent (1)   247    254    295    325    345    243 
Earnings (loss)  $(1,631)  $(2,723)  $(8,483)  $(7,568)  $(15,052)  $(6,945)
Fixed charges and preference dividends:                              
Interest expense   -    4    959    232    588    438 
Amortization of costs related to indebtedness   -    3    -    56    56    52 
Estimated interest factor in rent (1)   247    254    295    325    345    243 
Total fixed charges   247    261    1,254    613    989    733 
Add:                              
Preferred stock dividends   -    -    1,010    660    726    839 
Combined fixed charges and preferred stock dividends  $247   $261   $2,264   $1,273   $1,715   $1,572 
Ratio of earnings(loss) to fixed charges   -    -    -    -    -    - 
Ratio of earnings(loss) to combined fixed charges and preferred stock dividends   -    -    -    -    -    - 
Deficiency of earnings available to cover fixed charges  $1,878   $2,984   $9,737   $8,181   $16,041   $7,678 
Deficiency of earnings available to cover combined fixed charges and preference dividends  $1,878   $2,984   $10,747   $8,841   $16,767   $8,517