Exhibit 12
Microvision, Inc.
Computation of Ratio of Earnings to Cover Fixed
Charges and Preferred Dividends
(in thousands)
| |
1996 |
1997 |
1998 |
1999 |
2000 |
Six months ended June 30, 2001 |
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pre-tax income from continuing operations | $ | (3,457 | ) | $ | (4,945 | ) | $ | (7,328 | ) | $ | (16,700 | ) | $ | (26,601 | ) | $ | (21,482 | ) | ||
| Fixed charges | 203 | 7 | 90 | 2,165 | 202 | 72 | ||||||||||||||
| Earnings available to cover fixed charges | (3,254 | ) | (4,938 | ) | (7,238 | ) | (14,535 | ) | (26,399 | ) | (21,410 | ) | ||||||||
| Fixed charges | ||||||||||||||||||||
| Interest on indebtedness | 201 | 3 | 82 | 172 | 164 | 45 | ||||||||||||||
| Interest attributable to rental property(a) | 2 | 4 | 8 | 11 | 38 | 27 | ||||||||||||||
| Preferred Stock dividend requirements | — | — | — | 1,982 | — | — | ||||||||||||||
| 203 | 7 | 90 | 2,165 | 202 | 72 | |||||||||||||||
| Ratio of earnings to cover fixed charges(b) | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||
| Additional earnings required to cover fixed charges | $ | 3,457 | $ | 4,945 | $ | 7,328 | $ | 16,700 | $ | 26,601 | $ | 21,482 | ||||||||