EX-12.1 3 v458396_ex12-1.htm EXHIBIT 12.1

Exhibit 12.1

 

   Nine Months Ended                     
   September 30,       For the Years Ended December 31, 
   2016   2015   2014   2013   2012   2011 
Earnings (loss) from continuing operating                              
  before provision for income taxes  $(58,985,208)  $(14,056,484)  $12,656,239   $(374,508)  $(1,969,607)  $71,487 
Fixed charges (Interest expense)   597,910    749,134    -    9,890    218,805    94,219 
                               
Total Earnings (Loss) for Ratio  $(58,387,298)  $(13,307,350)  $12,656,239   $(364,618)  $(1,750,802)  $165,706 
                               
Ratio of Earnings to Fixed charges(1)(2)   -    -    -    -    -    1.76 

 

(1) In calculating the ratio of earnings to fixed charges, “earnings” consist of income (loss) from continuing operations before income tax, plus fixed charges (excluding capitalized interest).

“Fixed charges” represent interest incurred (whether expensed or capitalized), amortization of debt costs and an estimate of the interest within rental expense.

(2)  For the years ended December 31, 2015, 2013 and 2012 and for the Nine Months Ended September 30, 2015, fixed charges exceeded earnings by $13.3 million, $0.4 million, $1.8 million and $58.4 million, respectively.