Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - CANO PETROLEUM, INC | a10-17991_1ex32d2.htm |
| EX-31.2 - EX-31.2 - CANO PETROLEUM, INC | a10-17991_1ex31d2.htm |
| EX-32.1 - EX-32.1 - CANO PETROLEUM, INC | a10-17991_1ex32d1.htm |
| EX-21.1 - EX-21.1 - CANO PETROLEUM, INC | a10-17991_1ex21d1.htm |
| EX-31.1 - EX-31.1 - CANO PETROLEUM, INC | a10-17991_1ex31d1.htm |
| EX-23.1 - EX-23.1 - CANO PETROLEUM, INC | a10-17991_1ex23d1.htm |
| EX-23.2 - EX-23.2 - CANO PETROLEUM, INC | a10-17991_1ex23d2.htm |
| EX-23.3 - EX-23.3 - CANO PETROLEUM, INC | a10-17991_1ex23d3.htm |
| EX-99.1 - EX-99.1 - CANO PETROLEUM, INC | a10-17991_1ex99d1.htm |
| 10-K - ANNUAL REPORT PURSUANT TO SECTION 13 AND 15(D) - CANO PETROLEUM, INC | a10-17991_110k.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
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Twelve Months ended June 30, |
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Dollar Amounts in Thousands |
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2010 |
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2009 |
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2008 |
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2007 |
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2006 |
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(a) |
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(a) |
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(a) |
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(a) |
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(a) |
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Ratio |
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Earnings |
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Add: |
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Pre-tax loss from continuing operations adjusted for minority interests |
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$ |
(20,058 |
) |
$ |
(17,732 |
) |
$ |
(35,419 |
) |
$ |
(9,104 |
) |
$ |
(6,710 |
) |
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Fixed charges (see below) |
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6,049 |
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6,330 |
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9,935 |
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7,348 |
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2,127 |
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Less: |
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Capitalized interest |
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(1,987 |
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(1,406 |
) |
(2,463 |
) |
(303 |
) |
— |
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Pre-tax earnings to cover preferred stock dividend |
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(2,858 |
) |
(4,266 |
) |
(6,380 |
) |
(4,952 |
) |
— |
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Total Earnings |
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$ |
(18,853 |
) |
$ |
(17,074 |
) |
$ |
(34,327 |
) |
$ |
(7,010 |
) |
$ |
(4,583 |
) |
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Fixed Charges |
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Interest expensed (includes amortization) |
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$ |
907 |
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$ |
466 |
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$ |
861 |
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$ |
1,932 |
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$ |
2,098 |
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Interest capitalized |
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1,987 |
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1,406 |
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2,463 |
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303 |
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— |
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Estimate of interest within rental expense |
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298 |
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192 |
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231 |
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162 |
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29 |
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Pre-tax earnings to cover preferred stock dividend - Preferred dividend / (1-36%) |
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2,858 |
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4,266 |
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6,380 |
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4,952 |
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— |
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Total Fixed Charges |
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$ |
6,049 |
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$ |
6,330 |
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$ |
9,935 |
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$ |
7,348 |
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$ |
2,127 |
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(a) Since the registrant’s has recorded a loss for all periods shown above, the ratio coverage was less than 1:1. In order to achieve a coverage ratio of 1:1, the Registrant must generate the following earnings for each period as shown below.
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Earnings to increase ratio to 1:1 |
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$ |
24,903 |
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$ |
23,404 |
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$ |
44,262 |
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$ |
14,359 |
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$ |
6,710 |
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