Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIOS
(in thousands)
| For the years ended December 31, | For the six months ended June 30, | |||||||||||||||||||
2010 | 2011 | 2012 | 2013 | 2014 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Net loss | $ | (4,412 | ) | $ | (14,201 | ) | $ | (21,194 | ) | $ | (11,149 | ) | $ | (17,209 | ) | |||||
Add: Fixed charges | 51 | 1,001 | 2,069 | 1,380 | 401 | |||||||||||||||
Earnings as defined | $ | (4,361 | ) | $ | (13,200 | ) | $ | (19,125 | ) | $ | (9,769 | ) | $ | (16,808 | ) | |||||
Fixed charges: | ||||||||||||||||||||
Interest expensed | $ | - | $ | 661 | $ | 1,325 | $ | 840 | $ | 215 | ||||||||||
Amortization of debt discount and deferred financing costs | - | 290 | �� | 664 | 488 | 161 | ||||||||||||||
Estimated interest component of rent expense | 51 | 50 | 80 | 52 | 25 | |||||||||||||||
Total fixed charges | $ | 51 | $ | 1,001 | $ | 2,069 | $ | 1,380 | $ | 401 | ||||||||||
Preferred stock dividends | - | - | - | - | - | |||||||||||||||
Total fixed charges and preferred stock dividends | $ | 51 | $ | 1,001 | $ | 2,069 | $ | 1,380 | $ | 401 | ||||||||||
Ratio of earnings to fixed charges(1) | N/A | N/A | N/A | N/A | N/A | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends(1) | N/A | N/A | N/A | N/A | N/A | |||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (4,412 | ) | $ | (14,201 | ) | $ | (21,194 | ) | $ | (11,149 | ) | $ | (17,209 | ) | |||||
(1) | We reported a net loss for the years ended December 31, 2010, 2011, 2012 and 2013 and would have needed to generate additional income of approximately $4.4 million, $14.2 million, $21.2 million and $11.1 million, respectively, to cover our fixed charges and combined fixed charges and preferred stock dividends of approximately $51,000, $1.0 million, $2.1 million and $1.4 million, respectively. We reported a net loss for the six months ended June 30, 2014 and would have needed to generate additional income of approximately $17.2 million to cover our fixed charges and combined fixed charges and preferred stock dividends of approximately $0.4 million. |
