Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
(dollars in thousands)
| Twelve Months Ended December 31, | Four Months Ended December 31, | Twelve Months Ended August 31, | ||||||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||||||
| Net loss | $ | (87 | ) | $ | (6,353 | ) | $ | (1,609 | ) | $ | (410 | ) | $ | (12 | ) | $ | (652 | ) | $ | (45 | ) | |||||||
| Interest expense1 | 7,435 | 4,139 | 1,519 | 455 | - | 299 | - | |||||||||||||||||||||
| Earnings before combined fixed charges and preferred dividends | $ | 7,348 | $ | (2,214 | ) | $ | (90 | ) | $ | 45 | $ | (12 | ) | $ | (353 | ) | $ | (45 | ) | |||||||||
| Preferred dividends | (1,714 | ) | - | - | - | - | - | - | ||||||||||||||||||||
| Earnings before combined fixed charges | $ | 5,634 | $ | (2,214 | ) | $ | (90 | ) | $ | 45 | $ | (12 | ) | $ | (353 | ) | $ | (45 | ) | |||||||||
| Interest expense1 | 7,435 | 4,139 | 1,519 | 455 | - | 299 | - | |||||||||||||||||||||
| Total combined fixed charges | $ | 7,435 | $ | 4,139 | $ | 1,519 | $ | 455 | $ | - | $ | 299 | $ | - | ||||||||||||||
| Preferred dividends | 1,714 | - | - | - | - | - | - | |||||||||||||||||||||
| Total combined fixed charges and preferred dividends | $ | 9,149 | $ | 4,139 | $ | 1,519 | $ | 455 | $ | - | $ | 299 | $ | - | ||||||||||||||
| Ratio of earnings before combined fixed charges to total combined fixed charges | 0.76 | - | - | 0.10 | - | - | - | |||||||||||||||||||||
| Ratio of earnings before combined fixed charges and preferred dividends to total combined fixed charges and preferred dividends | 0.80 | - | - | 0.10 | - | - | - | |||||||||||||||||||||
1 Interest expense includes the amortization of deferred financing costs.