1
                                                                    Exhibit 12.1

               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                 (in thousands)



                                Period from inception
                                   (August 20, 1998)
                                       through            Fiscal Year Ended   Nine Months Ended
                                     December 31,            December 31,        September 30,
                                        1998                     1999                2000
                                ---------------------     -----------------   -----------------
                                                                       
Fixed charges:
  Interest expense, including
   amortization of debt expense        $   10                  $  2,145          $    4,956

  Assumed interest element
   included in rent expense                 7                       120               1,120
                                       ------                  --------          ----------
Total fixed charges:                       17                     2,265               6,076

Earnings (loss)
  Pre-tax net loss                       (890)                  (54,169)           (582,576)
  Fixed charged per above                  17                     2,265               6,076
                                       ------                  --------           ---------
  Total earnings (loss)
   before fixed charges                  (873)                  (51,904)           (576,500)

Ratio of earning to fixed charges          --                        --                  --
                                       ======                  ========           =========

Deficiency of earnings available
 to cover fixed charges                $ (890)                 $(54,169)          $(582,576)
                                       ======                  ========           =========