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EXHIBIT 12.1
SIX MONTHS
ENDED
(IN THOUSANDS) YEAR ENDED DECEMBER 31, JUNE 30,
1998 1999 2000 2001 2002 2003
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FIXED CHARGES COMPUTATION:
Fixed Charges - - - - - -
Preferred stock dividend $ - $ - $ 14,382 $ 8,563 $ 2,344 $ 297
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Total fixed charges plus preferred
dividends - - 14,382 8,563 2,344 297
EARNINGS COMPUTATION:
Loss before equity in income of investee (114,426) (1,063,444) (329,527) (16,417) (22,659) (1,685)
Add:
Fixed charges - - - - - -
Preferred stock dividend - - 14,382 8,563 2,344 297
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$ (114,426) $ (1,063,444) $ (315,145) $ (7,854) $ (20,315) $ (1,388)
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Ratio of earnings to fixed charges N/A N/A N/A N/A N/A N/A
Ratio of earning to fixed charges plus
preferred dividends (a)
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(a) For the years ended December 31, 2000, 2001 and 2002 and for the six months
ended June 30, 2003 earnings were not sufficient to cover fixed charges plus
preferred dividends by approximately $329.5 million, $16.4 million, $22.7
million and $1.7 million respectively.