Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERENCE SHARE DIVIDENDS
(in thousands)
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| Three Months Ended |
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| Nine Months Ended |
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| March 31, |
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| March 31, |
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| 2017 |
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| 2016 |
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| 2017 |
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| 2016 |
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Earnings: |
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Net loss |
| $ | (6,019 | ) |
| $ | (5,745 | ) |
| $ | (16,526 | ) |
| $ | (15,396 | ) |
Add: Fixed charges |
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| 26 |
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| 26 |
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| 77 |
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| 61 |
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Earnings as defined |
| $ | (5,993 | ) |
| $ | (5,719 | ) |
| $ | (16,449 | ) |
| $ | (15,335 | ) |
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Fixed charges: |
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Estimated interest component of rental expense (1) |
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| 26 |
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| 26 |
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| 77 |
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| 61 |
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Total fixed charges |
| $ | 26 |
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| $ | 26 |
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| $ | 77 |
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| $ | 61 |
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Ratio of earnings to fixed charges (2) |
| $ | — |
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| $ | — |
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| $ | — |
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| $ | — |
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Deficiency of earnings available to cover fixed charges |
| $ | (5,993 | ) |
| $ | (5,719 | ) |
| $ | (16,449 | ) |
| $ | (15,335 | ) |
Combined fixed charges and preference share dividends: |
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Fixed charges |
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| 26 |
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| 26 |
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| 77 |
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| 61 |
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Preference share dividends |
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| — |
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| — |
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| — |
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| — |
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Total combined fiexd charges and preference shre dividends |
| $ | 26 |
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| $ | 26 |
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| $ | 77 |
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| $ | 61 |
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Ratio of earnings to combined fixed charges and preference share dividends |
| $ | — |
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| $ | — |
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| $ | — |
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| $ | — |
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Deficiency of earnings available to cover combines fixed charges and prefernce share dividends |
| $ | (5,993 | ) |
| $ | (5,719 | ) |
| $ | (16,449 | ) |
| $ | (15,335 | ) |
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(1) One third of rental expense is estimated to be the interest component of rental expense |
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(2) Earnings were insufficient to cover total fixed charges and total combined fixed charges and preference share dividends |
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