Exhibit 12.1
STATEMENT RE COMPUTATION OF RATIOS
The following table sets forth the ratio of earnings to fixed charges and preferred stock dividends for the periods indicated below:
| For the nine months ended September 30 | For the years ended December 31, | |||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Pretax income (loss) from continuing operations | $ | (19,527,535 | ) | $ | 450,479 | $ | 3,313,786 | $ | 3,226,430 | $ | 4,819,306 | |||||||||
| Fixed Charges | 4,628,023 | 10,008,280 | 11,046,512 | 4,591,673 | 449,164 | |||||||||||||||
| Dividends distributed to shareholders | 2,631,744 | 3,522,036 | 2,932,122 | 44,827 | — | |||||||||||||||
| Total Earnings | $ | (12,267,768 | ) | $ | 13,980,795 | $ | 17,292,420 | $ | 7,862,930 | $ | 5,268,470 | |||||||||
| Fixed Charges: | ||||||||||||||||||||
| Interest Expense | $ | 4,628,023 | $ | 10,008,280 | $ | 11,046,512 | $ | 4,591,673 | $ | 449,164 | ||||||||||
| Preferred stock | 2,631,744 | 3,522,036 | 2,932,122 | 44,827 | — | |||||||||||||||
| Total Fixed Charges | $ | 7,259,767 | $ | 13,530,316 | $ | 13,978,634 | $ | 4,636,500 | $ | 449,164 | ||||||||||
| Ratio of earnings to fixed charges | (2.65 | ) | 1.40 | 1.57 | 1.71 | 11.73 | ||||||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends | (1.69 | ) | 1.03 | 1.24 | 1.70 | 11.73 | ||||||||||||||
| Deficiency of earnings to fixed charges and preferred stock dividends | (12,267,768 | ) | — | — | — | — | ||||||||||||||
