Exhibit 12.1
ADOMANI, Inc.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
| Years Ended December 31, | Six Months Ended June 30, | |||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2018 | |||||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income (loss) before income taxes | $ | (21,903 | ) | $ | (10,685 | ) | $ | (6,035 | ) | $ | (2,187 | ) | $ | (1,890 | ) | $ | (8,261 | ) | ||||||
| Add: Fixed charges | 346 | 1,174 | 722 | 80 | 32 | 37 | ||||||||||||||||||
| Add: Amortization of capitalized interest | – | – | – | – | – | – | ||||||||||||||||||
| Subtract: Capitalized interest | – | – | – | – | – | – | ||||||||||||||||||
| Total earnings (losses) | $ | (21,557 | ) | $ | (9,511 | ) | $ | (5,313 | ) | $ | (2,107 | ) | $ | (1,858 | ) | $ | (8,224 | ) | ||||||
| Computation of fixed charges: | ||||||||||||||||||||||||
| Interest expense | 302 | 1,148 | 702 | 65 | 1 | 14 | ||||||||||||||||||
| Capitalized interest | – | – | – | – | – | – | ||||||||||||||||||
| Estimated interest component of rent expense1 | 44 | 26 | 20 | 15 | 31 | 23 | ||||||||||||||||||
| Total fixed charges | $ | 346 | $ | 1,174 | $ | 722 | $ | 80 | $ | 32 | $ | 37 | ||||||||||||
| Ratio of earnings to fixed charges2 | – | – | – | – | – | – | ||||||||||||||||||
| 1 | One-third of rent expense was included in the calculation as it is a reasonable approximation of the interest component. |
| 2 | Our earnings were inadequate to cover fixed charges for the years ended December 31 2017, 2016, 2015, 2014, 2013, and for the six months ended June 30, 2018 by $21.9 million, $10.7 million, $6 million, $2.2 million, $1.9 million, and $8.3 million, respectively. |
