EX-12 4 mnov-ex121_6.htm EX-12.1 mnov-ex121_6.htm

Exhibit 12.1

 

 

Statement Regarding Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

 

 

 

 


  

Year Ended December 31,

 

 

Six Months
Ended
June 30,
2017

 

(in thousands)

  

2012

 

 

2013

 

 

2014

 

 

2015

 

 

2016

 

 

Earnings:

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before income taxes

  

$

(10,950

) 

 

$

(4,024

) 

 

$

(9,199

) 

 

$

(8,838

) 

 

$

(10,862

) 

 

$

(5,799

) 

Add: Fixed charges

  

 

—  

  

 

 

—  

  

 

 

1

  

 

 

1

  

 

 

1

  

 

 

—  

  

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Earnings

  

$

(10,950

) 

 

$

(4,024

) 

 

$

(9,198

) 

 

$

(8,837

) 

 

$

(10,861

) 

 

$

(5,799

) 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

  

 

—

  

 

 

—  

  

 

 

1  

  

 

 

1

  

 

 

1

  

 

 

—  

  

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

  

$

—  

  

 

$

—  

  

 

$

1

  

 

$

1

  

 

$

1

  

 

$

—  

  

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred stock dividends

  

 

Note 1

  

 

 

Note 1

  

 

 

Note 1

  

 

 

Note 1

  

 

 

Note 1

  

 

 

Note 1

  

Note 1: Earnings for the six months ended June 30, 2017 and the years ended December 31, 2016, 2015, 2014, 2013 and 2012 were insufficient to cover fixed charges by $5.8 million, $10.9 million, $8.8 million, $9.2 million, $4.0 million and $10.9 million, respectively. The Company has never paid dividends on its preferred stock.