Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIOS

The ratio of earnings to fixed charges as well as any deficiency of earnings are determined using the following applicable factors:

• Earnings available for fixed charges are calculated first, by determining the sum of: (a) income (loss) from continuing operations before income taxes and equity income; (b) distributed equity income; (c) fixed charges, as defined below; and (d) amortization of capitalized interest, if any. From this total, we subtract capitalized interest and net income attributable to non-controlling interests.

• Fixed charges are calculated as the sum of: (a) interest costs (both expensed and capitalized); (b) amortization of debt expense and discount or premium relating to any indebtedness; and (c) that portion of rental expense that is representative of the interest factor.

Computation of Ratio of Earnings (Loss) to Fixed Charges:

	Year Ended December 31,
	2014			2013			2012			2011
	(in thousands)
Earnings available for fixed charges:
Pre-tax loss	$	(17,946	)	$	(3,993	)	$	(6,302	)	$	(9,841	)
Add: fixed charges, as calculated below		45			3,774			105			141
Total earnings available for fixed charges	$	(17,901	)	$	(219	)	$	(6,197	)	$	(9,700	)
Fixed charges:
Interest expense, including amortization of debt issuance costs and debt discount	$	—		$	3,731		$	62		$	96
Estimated interest expense portion of rental expense		45			43			43			45
Total fixed charges	$	45		$	3,774		$	105		$	141
Deficiency of earnings available to cover fixed charges	$	(17,946	)	$	(3,993	)	$	(6,302	)	$	(9,841	)