Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIOS
(in thousands)
|
For the years ended December 31, |
For the six months ended June 30, |
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|
2012 |
2013 |
2014 |
2015 |
2016 |
2107 |
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|
Earnings: |
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|
Net loss |
$ | (21,194 | ) | $ | (11,149 | ) | $ | (30,712 | ) | $ | (14,197 | ) | $ | (11,164 | ) | $ | (2,010 | ) | ||||||
|
Add: Fixed charges |
2,069 | 1,380 | 767 | 725 | 408 | 18 | ||||||||||||||||||
|
Earnings as defined |
$ | (19,125 | ) | $ | (9,769 | ) | $ | (29,945 | ) | $ | (13,472 | ) | $ | (10,756 | ) | $ | (1,992 | ) | ||||||
|
Fixed charges: |
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|
Interest expensed |
$ | 1,325 | $ | 840 | $ | 500 | $ | 553 | $ | 292 | $ | - | ||||||||||||
|
Amortization of debt discount and deferred financing costs |
664 | 488 | 226 | 137 | 81 | - | ||||||||||||||||||
|
Estimated interest component of rent expense |
80 | 52 | 41 | 35 | 35 | 18 | ||||||||||||||||||
|
Total fixed charges |
$ | 2,069 | $ | 1,380 | $ | 767 | $ | 725 | $ | 408 | $ | 18 | ||||||||||||
|
Preferred stock dividends |
- | - | - | - | - | - | ||||||||||||||||||
|
Total fixed charges and preferred stock dividends |
$ | 2,069 | $ | 1,380 | $ | 767 | $ | 725 | $ | 408 | $ | 18 | ||||||||||||
|
Ratio of earnings to fixed charges(1) |
N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||
|
Ratio of earnings to fixed charges and preferred stock dividends(1) |
N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||
|
Deficiency of earnings available to cover fixed charges |
$ | (21,194 | ) | $ | (11,149 | ) | $ | (30,712 | ) | $ | (14,197 | ) | $ | (11,164 | ) | $ | (2,010 | ) | ||||||
|
(1) |
We reported a net loss for the years ended December 31, 2012, 2013, 2014, 2015 and 2016 and would have needed to generate additional income of approximately $21.2 million, $11.1 million, $30.7 million, $14.2 million and $11.2 million, respectively, to cover our fixed charges and combined fixed charges and preferred stock dividends of approximately $2.1 million, $1.4 million, $0.8 million, $0.7 million and $0.4 million, respectively. We reported a net loss for the six months ended June 30, 2017 and would have needed to generate additional income of approximately $2.0 million to cover our fixed charges and combined fixed charges and preferred stock dividends of approximately $18,000. |