Exhibit 12.1
Statement Regarding Computation of Deficiency of Earnings to Fixed Charges and Deficiency of Earnings to Combined Fixed Charges and Preference Dividends
| Year Ended December 31, | Six months ended June 30, | |||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | 2010 | 2009 | 2014 | ||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 52 | $ | 210 | $ | 127 | $ | 247 | $ | 461 | $ | 459 | ||||||||||||
Portion of rental expense which represents interest factor (1) | 27 | 13 | 17 | 13 | 11 | 58 | ||||||||||||||||||
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Total Fixed charges | $ | 79 | $ | 223 | $ | 144 | $ | 260 | $ | 472 | $ | 517 | ||||||||||||
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Earnings (loss) available for fixed charges: | ||||||||||||||||||||||||
Pre-tax income (loss) | $ | (16,821 | ) | $ | (8,579 | ) | $ | (5,425 | ) | $ | (6,365 | ) | $ | (5,247 | ) | $ | (7,124 | ) | ||||||
Add: Fixed charges | 79 | 223 | 144 | 260 | 472 | 517 | ||||||||||||||||||
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Total Earnings (loss) available for fixed charges | $ | (16,743 | ) | $ | (8,356 | ) | $ | (5,281 | ) | $ | (6,105 | ) | $ | (4,775 | ) | $ | (6,607 | ) | ||||||
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Deficiency of earnings (loss) to fixed charges | $ | (16,821 | ) | $ | (8,579 | ) | $ | (5,425 | ) | $ | (6,365 | ) | $ | (5,247 | ) | $ | (7,124 | ) | ||||||
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| Year Ended December 31, | Six months ended June 30, | |||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | 2010 | 2009 | 2014 | ||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 52 | $ | 210 | $ | 127 | $ | 247 | $ | 461 | $ | 459 | ||||||||||||
Portion of rental expense which represents interest factor (1) | 27 | 13 | 17 | 13 | 11 | 58 | ||||||||||||||||||
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Total Fixed charges before preferred stock dividends pre-tax requirements | $ | 79 | $ | 223 | $ | 144 | $ | 260 | $ | 472 | $ | 517 | ||||||||||||
Preferred stock dividends pre-tax income requirements (2) | 1,360 | 31 | — | — | 711 | 804 | ||||||||||||||||||
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Total Combined fixed charges and preferred stock dividends | $ | 1,439 | $ | 254 | $ | 144 | $ | 260 | $ | 1183 | $ | 1,321 | ||||||||||||
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Earnings (loss) available for fixed charges: | ||||||||||||||||||||||||
Pre-tax income (loss) | $ | (16,821 | ) | $ | (8,579 | ) | $ | (5,425 | ) | $ | (6,365 | ) | $ | (5,247 | ) | $ | (7,124 | ) | ||||||
Add: Fixed charges | 1,439 | 254 | 144 | 260 | 1,183 | 1,321 | ||||||||||||||||||
Less: Preferred stock dividends | 1360 | 31 | — | — | 711 | 804 | ||||||||||||||||||
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Total Earnings (loss) available for fixed charges and preferred stock dividends | $ | (16,743 | ) | $ | (8,356 | ) | $ | (5,281 | ) | $ | (6,105 | ) | $ | (4,775 | ) | $ | (6,607 | ) | ||||||
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Deficiency of earnings (loss) to fixed charges and preferred stock dividends | $ | (16,821 | ) | $ | (8,579 | ) | $ | (5,425 | ) | $ | (6,365 | ) | $ | (5,247 | ) | $ | (7,124 | ) | ||||||
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(1) - Assumes 5% interest factor
(2) - Assumes 0% effective tax rate
