Exhibit 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
| Year Ended December 31, |
|
| Six Months
| ||||||||||||||||||||
(in thousands) |
| 2012 |
|
| 2013 |
|
| 2014 |
|
| 2015 |
|
| 2016 |
|
| ||||||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income taxes |
| $ | (10,950 | ) |
| $ | (4,024 | ) |
| $ | (9,199 | ) |
| $ | (8,838 | ) |
| $ | (10,862 | ) |
| $ | (5,799 | ) |
Add: Fixed charges |
|
| — |
|
|
| — |
|
|
| 1 |
|
|
| 1 |
|
|
| 1 |
|
|
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Earnings |
| $ | (10,950 | ) |
| $ | (4,024 | ) |
| $ | (9,198 | ) |
| $ | (8,837 | ) |
| $ | (10,861 | ) |
| $ | (5,799 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
| — |
|
|
| — |
|
|
| 1 |
|
|
| 1 |
|
|
| 1 |
|
|
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges |
| $ | — |
|
| $ | — |
|
| $ | 1 |
|
| $ | 1 |
|
| $ | 1 |
|
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges and preferred stock dividends |
|
| Note 1 |
|
|
| Note 1 |
|
|
| Note 1 |
|
|
| Note 1 |
|
|
| Note 1 |
|
|
| Note 1 |
|
Note 1: Earnings for the six months ended June 30, 2017 and the years ended December 31, 2016, 2015, 2014, 2013 and 2012 were insufficient to cover fixed charges by $5.8 million, $10.9 million, $8.8 million, $9.2 million, $4.0 million and $10.9 million, respectively. The Company has never paid dividends on its preferred stock.