Exhibit 12.1 WASTE SYSTEMS INTERNATIONAL, INC STATEMENT RE COMPUTATION OF RATIOS (DOLLARS IN THOUSANDS) Three months ended For the year ended March 31, December 31, ---------------------- --------------------------- 1999 1998 1998 1997 1996 Historical ratio of earnings to fixed charges Loss from continuing operations before taxes per consolidated statement of operations $(8,473) $(1,107) $(6,206) $(5,449) $(11,652) Add: Portion of rents representative of the interest factor 67 23 90 70 70 Interest on indebtedness including the amortization of debt expense (1) 2,006 434 4,074 1,355 1,182 Loss before fixed charges, as adjusted $(6,400) $ (650) $(2,042) $(4,024) $(10,400) ------- ------- ------- ------- --------- Fixed charges Interest on indebtedness including the amortization of debt expense (1) $ 2,006 $ 434 $ 4,074 $ 1,355 $ 1,182 Rents 201 69 270 210 210 Portion of rents representative of the interest factor (2) 67 23 90 70 70 Fixed charges (1) + (2) 2,073 457 4,164 1,425 1,252 Ratio of loss to fixed charges (3.09) (1.42) (0.49) (2.82) (8.31) ------- ------- ------- ------- --------- ------- ------- ------- ------- ---------