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.