EX-12.1 4 ex12-1.htm STATEMENT RE: COMPUTATION OF RATIOS ex12-1.htm
EXHIBIT 12.1
 





PACIFIC ASIA PETROLEUM, INC.
(A DEVELOPMENT STAGE COMPANY)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                     
                     
   
For the nine
              
From inception
   
months ended
              
(August 25, 2005)
   
September 30,
  
For the years ended December 31,
  
through December 31,
   
2009
  
2008
  
2007
  
2006
  
2005
Loss from continuing operations
  
 $(7,725,163)
  
 $(5,446,649)
  
 $(2,383,684)
  
 $(1,086,387)
  
 $(51,344)
Income tax expense
  
 30,726
  
 13,082
  
 38,826
  
 -
  
 -
Noncontrolling interest
  
 (61,336)
  
 (11,968)
  
 (7,077)
  
 (1,220)
  
 -
Interest expense, including interest portion of rentals*
  
 53,991
  
 36,636
  
 26,054
  
 9,490
  
 -
                     
Loss, before provision for taxes, noncontrolling interest and fixed charges (interest)
  
 
(7,701,782)
  
 (5,408,899)
  
 (2,325,881)
  
 (1,078,117)
  
 (51,344)
                     
Fixed charges: Interest expense, including interest portion* of rentals
  
 53,991
  
 36,636
  
 26,054
  
 9,490
  
 -
                     
Ratio of earnings to fixed charges
  
 (143)
  
 (148)
  
 (89)
  
 (114)
  
 -
                     
* Estimated at 1/3 of rentals, which is considered to be a reasonable approximation.