EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
| Quarter Ended March 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | Year Ended December 31, 2010 | Year Ended December 31, 2009 | Year Ended December 31, 2008 | |||||||||||||||||||
Earnings from continuing operations before fixed charges | ||||||||||||||||||||||||
Loss from continuing operations | $ | (3,092,711 | ) | $ | (4,026,482 | ) | $ | (5,569,788 | ) | $ | (3,037,917 | ) | $ | (4,817,713 | ) | $ | (2,395,709 | ) | ||||||
Equity (income) loss from less than fifty percent owned affiliates | (469,739 | ) | (172,172 | ) | 60,094 | (16,931 | ) | 249,367 | (48,496 | ) | ||||||||||||||
Fixed charges | 2,680,547 | 12,382,146 | 10,821,815 | 10,030,517 | 9,932,426 | 8,413,513 | ||||||||||||||||||
Amortization of capitalized interest | 19,450 | 77,799 | 77,799 | 77,799 | 71,836 | 24,509 | ||||||||||||||||||
Distributed income from less than fifty percent owned affiliates | — | 500,000 | 437,500 | 238,386 | 318,521 | 149,317 | ||||||||||||||||||
Capitalized interest | — | — | — | — | (270,555 | ) | (1,602,053 | ) | ||||||||||||||||
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Earnings from continuing operations before fixed charges | $ | (862,453 | ) | $ | 8,761,291 | $ | 5,827,420 | $ | 7,291,851 | $ | 5,483,882 | $ | 4,541,081 | |||||||||||
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Fixed charges | ||||||||||||||||||||||||
Interest expense | $ | 2,680,547 | $ | 12,382,146 | $ | 10,821,815 | $ | 10,030,517 | $ | 9,661,871 | $ | 6,811,460 | ||||||||||||
Capitalized interest | — | — | — | — | 270,555 | 1,602,053 | ||||||||||||||||||
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Fixed charges | 2,680,547 | 12,382,146 | 10,821,815 | 10,030,517 | 9,932,426 | 8,413,513 | ||||||||||||||||||
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Ratio of earnings to fixed charges | (0.32 | ) | 0.71 | 0.54 | 0.73 | 0.55 | 0.54 | |||||||||||||||||
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Deficiency | $ | 3,543,001 | $ | 3,620,855 | $ | 4,994,395 | $ | 2,738,663 | $ | 4,448,544 | $ | 3,872,432 | ||||||||||||
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