Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERENCE SHARE DIVIDENDS
(in thousands)
| Three Months Ended December 31, | Six Months Ended December 31, | Year Ended June 30, | ||||||||||||||||||
| 2015 | 2015 | 2015 | 2014 | 2013 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Net loss | $ | (5,691 | ) | $ | (9,651 | ) | $ | (11,857 | ) | $ | (6,710 | ) | $ | (3,241 | ) | |||||
Add: Fixed charges | 23 | 35 | 60 | 30 | 7 | |||||||||||||||
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Earnings as defined | $ | (5,714 | ) | $ | (9,686 | ) | $ | (11,917 | ) | $ | (6,740 | ) | $ | (3,248 | ) | |||||
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Fixed charges: | ||||||||||||||||||||
Estimated interest component of rental expense (1) | $ | 23 | $ | 35 | $ | 60 | $ | 30 | $ | 7 | ||||||||||
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Total fixed charges | $ | 23 | $ | 35 | $ | 60 | $ | 30 | $ | 7 | ||||||||||
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Ratio of earnings to fixed charges (2) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
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Deficiency of earnings available to cover fixed charges | $ | (5,714 | ) | $ | (9,686 | ) | $ | (11,917 | ) | $ | (6,740 | ) | $ | (3,248 | ) | |||||
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Combined fixed charges and preference share dividends: | ||||||||||||||||||||
Fixed charges | $ | 23 | $ | 35 | $ | 60 | $ | 30 | $ | 7 | ||||||||||
Preference share dividends | — | — | — | — | — | |||||||||||||||
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Total combined fixed charges and preference share dividends | $ | 23 | $ | 35 | $ | 60 | $ | 30 | $ | 7 | ||||||||||
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Ratio of earnings to combined fixed charges and preference share dividends (2) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
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Deficiency of earnings available to cover combined fixed charges and preference share dividends | $ | (5,714 | ) | $ | (9,686 | ) | $ | (11,917 | ) | $ | (6,740 | ) | $ | (3,248 | ) | |||||
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| (1) | One third of rental expense is estimated to be the interest component of rental expense. |
| (2) | Earnings were insufficient to cover total fixed charges and total combined fixed charges and preference share dividends. |