EX-12.1 3 a2123740zex-12_1.htm EX-12.1
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Exhibit 12.1

Statement Regarding the Computation of Ratio of Combined Fixed Charges and Preference Dividends to Earnings

 
   
  Year Ended December 31,
 
 
  Nine Months Ended
September 30,
2003

 
 
  2002
  2001
  2000
  1999
  1998
 
Fixed charges:                                      
  Interest expense   $ 359,478   $ 332,778   $ 326,861   $ 219,111   $ 129,822   $ 162,224  
  Estimated interest portion of rent expense     1,727,493     1,537,369     414,752     454,193     240,249     178,779  
   
 
 
 
 
 
 
Total fixed charges   $ 2,086,971   $ 1,870,147   $ 741,613   $ 673,304   $ 370,071   $ 341,003  
   
 
 
 
 
 
 
Earnings:                                      
  Loss from continuing operations before income taxes   $ (17,504,226 ) $ (27,932,494 ) $ (9,239,991 ) $ (8,516,873 ) $ (6,909,217 ) $ (7,480,507 )
  Add: Fixed charges     2,086,971     1,870,147     741,613     673,304     370,071     341,003  
      Amortization of capitalized interest     9,099     11,827     8,421     1,882          
   
 
 
 
 
 
 
Total earnings   $ (15,408,156 ) $ (26,050,520 ) $ (8,489,957 ) $ (7,841,687 ) $ (6,539,146 ) $ (7,139,504 )
   
 
 
 
 
 
 
Ratio of combined fixed charges and preference dividends to earnings(1)                          

(1)
For the years ended December 31, 2002, 2001, 2000, 1999 and 1998 and the nine months ended September 30, 2003, the earnings were insufficient to cover fixed charges by $27,932,494, $9,239,991, $8,516,873, $6,909,217, $7,480,507 and $17,504,226, respectively.



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