Exhibit 12.1
STATEMENT REGARDING THE COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
The following table shows our unaudited ratios of earnings to fixed charges for each of the preceding three fiscal years.
(In US dollars except ratio amounts)
| For the years ended June 30, | ||||||||||||
| 2017 | 2016 | 2015 | ||||||||||
| Earnings | ||||||||||||
| Income before taxes | $ | 22,301,280 | $ | 12,881,842 | $ | 29,219,646 | ||||||
| Adjustments: | ||||||||||||
| Interest expense | 2,094,587 | 524,409 | 188,173 | |||||||||
| Interest component of rental expense (1) | 82,561 | 90,452 | 63,413 | |||||||||
| Total earnings available for fixed charges | $ | 24,478,428 | $ | 13,496,703 | $ | 29,471,232 | ||||||
| Fixed charges | ||||||||||||
| Interest expense | $ | 2,094,587 | $ | 524,409 | $ | 188,173 | ||||||
| Interest component of rental expense (1) | 82,561 | 90,452 | 63,413 | |||||||||
| Total fixed charges | $ | 2,177,148 | $ | 614,861 | $ | 251,586 | ||||||
| Ratio of Earnings to Fixed Charges | 11.24 | 21.95 | 117.14 | |||||||||
(1) Interest component of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.
