EX-99 13 a04-3245_1ex99.htm EX-99

Exhibit 99

 

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends:

 

 

 

Year Ended December 31,

 

 

 

2003

 

2002

 

2001

 

2000

 

1999

 

1998

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss)/income

 

$

(1,980,420

)

$

(157,274

)

$

1,488,493

 

$

2,676,724

 

$

968,748

 

$

(317,406

)

Add: interest expense

 

7,867,534

 

4,144,231

 

3,181,697

 

2,167,869

 

1,696,222

 

1,357,565

 

Earnings as adjusted

 

$

5,887,114

 

$

3,986,957

 

$

4,670,190

 

$

4,844,593

 

$

2,664,970

 

$

1,040,159

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Combined Fixed Charges and Preferred Share Dividends:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

7,867,534

 

$

4,144,231

 

$

3,181,697

 

$

2,167,869

 

$

1,696,222

 

$

1,357,565

 

Preferred share dividends

 

—

 

—

 

—

 

—

 

—

 

—

 

Total

 

$

7,867,534

 

$

4,144,231

 

$

3,181,697

 

$

2,167,869

 

$

1,696,222

 

$

1,357,565

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends

 

0.75

 

0.96

 

1.47

 

2.23

 

1.57

 

0.77