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EXHIBIT 12.1
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
AMOUNTS IN $'000
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<Caption>
YEAR ENDED DECEMBER 31, SIX MONTHS ENDED
---------------------------------------------------- JUNE 30,
1997 1998 1999 2000 2001 2002
-------- -------- -------- -------- -------- ----------------
Loss from continuing operations.............. $(18,114) $(12,628) $(15,709) $(11,125) $(3,446) $(5,868)
Combined fixed charges and preferred stock
dividends.................................. 490 577 435 859 1,228 1,029
-------- -------- -------- -------- ------- -------
Earnings (as defined)........................ $(17,624) $(12,051) $(15,274) $(10,266) $(2,218) $(4,839)
-------- -------- -------- -------- ------- -------
COMBINED FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS:
Interest expense............................. $ 438 $ 472 $ 335 $ 273 $ 246 $ 118
Estimated interest within rent expense....... 52 105 100 105 238 106
Preferred stock dividends **................. 0 0 0 481 744 805
-------- -------- -------- -------- ------- -------
Total combined fixed charges and preferred
stock dividends............................ 490 577 435 859 1,228 1,029
-------- -------- -------- -------- ------- -------
Deficiency of earnings available to cover
combined fixed charges and preferred stock
dividends.................................. $(18,114) $(12,628) $(15,709) $(11,125) $(3,446) $(5,868)
-------- -------- -------- -------- ------- -------
Ratio of earnings to combined fixed charges
and preferred stock dividends *............ N/A N/A N/A N/A N/A N/A
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* Our earnings were insufficient to cover fixed charges in each of the years
in the five-year period ended December 31, 2001 and for the six-month period
ended June 30, 2002 and accordingly ratios are not presented.
** The preferred stock dividend amount includes the amount relating to
accretion relative to convertible preferred stock which is madatorily
redeemable and dividends on preferred stock.