| Three months ended September 30, | Six months ended September 30, | ||||||||||
| 2010 | 2009 | 2010 | 2009 | ||||||||
|
Earnings:
|
|||||||||||
|
(Loss)/income before income taxes
|
$ |
(556,420)
|
$ |
4,040,009
|
$ |
315,448
|
$ |
4,070,791
|
|||
|
Add: Fixed charges
|
1,100,382
|
1,145,331
|
2,203,133
|
2,293,378
|
|||||||
|
Add: Amortisation of capitalized interest
|
8,573
|
-
|
18,082
|
-
|
|||||||
|
Less: Interest capitalized
|
-
|
-
|
-
|
-
|
|||||||
|
Total earnings
|
552,535
|
5,185,340
|
2,536,663
|
6,364,169
|
|||||||
|
Fixed charges:
|
|||||||||||
|
Interest expensed and capitalized
|
750,000
|
750,000
|
1,500,000
|
1,500,000
|
|||||||
|
Amortized premiums, discounts and bond costs
|
350,382
|
395,331
|
703,133
|
793,378
|
|||||||
|
Total fixed charges
|
1,100,382
|
1,145,331
|
2,203,133
|
2,293,378
|
|||||||
|
Ration of earnings to fixed charges
|
0.50
|
4.53
|
1.15
|
2.78
|
|||||||